Tips for Starting a Business Out of a Career Setback

There’s no getting around it: career setbacks are hard. Whether you were demoted, missed a promotion, or got laid off, it can be a disappointing (or devastating) experience. However, as difficult as it is to start over, a career setback can also be a door that leads to something better. By starting your own business, for instance, you can take control of your destiny, do something you love every day, work from home, and/or enjoy many of the other benefits that come with it.

With that said, getting a business off the ground and realizing long-term success is a lot of work. But if you plan and strategize well from the beginning, it doesn’t have to be overwhelming. Consider these tips if you’re thinking about starting a business after suffering a career setback:

Check Your Hobbies

The first thing to consider is if you have any hobbies that you would like to turn into a business. In order for this route to be worth taking, two primary elements are needed:

  1. You must have a passion for the hobby.
  2. You must be able to make money from it.

Whether it’s a hobby that you just do every other weekend or something you’re doing as a side gig to pad your income, you need to be passionate about it because that passion will carry you through the good times and bad. And some hobbies should stay just that—your hobby. If you can’t develop a business plan where you can make a living doing it, you will need to consider taking another route.

Check Your Side Hustles

If you have a side gig that you’ve been doing for some time, can you expand it? Similar to a hobby, turning your side hustle into a full-time business will require passion and a strategy for profit. The advantage here is that you already have experience in the craft and maybe even a small network of clients or customers. Nonetheless, converting a part-time job into full-time is no simple task, so be ready to brainstorm and work tirelessly to build it. One way to find more work is to take advantage of online freelance staffing boards. These job boards have a large pool of individuals and businesses looking to hire freelancers in many different fields, including writing, web development, logo design, and IT.

Carve Out a Workspace

No matter what kind of business you start, you will need an adequate workspace. In most cases, setting up at home makes the most sense, at least in the early stages. Find a location in your home that will allow you to work productively, whether it’s in the garage, basement, spare bedroom, or hallway closet.

Along with outfitting the space with all the furnishings you need, make sure you have every piece of equipment necessary for you to fulfill your daily duties, whether it’s an office chair, desk, computer, set of headphones, shop bench, or anything else. And if you plan on working online and/or using tech, be sure to prioritize online safety, cybersecurity, and identity theft protection.

Decide Now to Learn and Adapt Later On

Finally, understand that you probably won’t get to the top of your field overnight. To be successful in any industry, at least long-term, requires you to work relentlessly at your craft. Before you even launch your business, make a promise to yourself that you will always look for ways to learn about your line of work and how you can be better. And since industries are changing each year, commit now to being adaptable down the road. To upgrade your business skills and increase your chances of success, check out some helpful business manuals from e-Training Manuals.

If you’re willing to work for it, you really can be the master of your destiny by turning your career setback into a business opportunity. Think of any hobbies or side gigs that you could make into a business, and create a workspace that facilitates productivity. Lastly, remain eager to learn and adapt on your journey.

Tourism Saves Small Town

small town tourist market

Salvation through Tourism

A small town with a declining population and economy looked to rebuild their town. The locals held meetings; the most common thought was “we need to attract more people to our town”. Suggestions included murals, food festivals, art shows, novelty festivals and many other things. Enthusiastic people organised a clean-up of the town encouraged shop and building owners to repaint. With funding help from local authorities, visitors started arriving. The visitors are welcomed by the townsfolk and there is a mutual feeling of satisfaction. There are new business opportunities for locals and money flows into the community along with the visitors. Euphoria.

As tourism grew, the town realised it needed to develop proper ways of greeting visitors, dealing with their requests instead of just chatting to them like friends. Formal arrangements were put in place, signs erected to stop the incessant requests for directions. Notices were placed in shops explaining the festival details. The flow of visitors was steady every year, in fact, it steadily increased. Making tourism a good investment enabling local businesses to plan for the future knowing tourists would always be there. Apathy had set in.

After just a few years tourism was the lifeblood of the town. So numerous were the tourists that motels had to expand, new cafes and restaurants were built. New folk moved into town growing the population and bringing new ideas. Even a new car park had to be constructed in the town centre. Although many locals disliked the demolition of the village hall to make way for the car park, it was too difficult to park in town without this progress. The volume of traffic from the highway necessitated traffic lights at the crossroad at the edge of town. The Saturday morning farmer’s market now boosted more drink stalls, jewellery stalls, and fashion stalls than the traditional fruit and vegetable and fresh produce stalls it used to have. Not all locals were happy with changes, it seemed to many locals the nature and spirit of the town was disappearing. So many tourists made it hard to get simple things like weekly shopping done, and prices had gone up. Not to mention trying to find a tradesman who wasn’t just too busy with big jobs in town. The volume of tourists led to prices in town being jacked up as locals became unable to supply the demand. No longer could locals nip down to the jetty for a quiet spot of fishing and the queue at the boat ramp was always long.

Sadly, the environment everyone loved, tourist and locals alike, had changed forever. Tourists still came but a different type now the vibe of the town was different. In the scramble to capture the tourist dollar, the community overlooked the fact that the things the residents and early visitors once valued in the area, had changed irrevocably. The outcome could have been so different with proper planning. Regret

A Feasibility Study, although seemingly tedious and often thought to be unnecessary, could have made a massive difference to the business plan.

Reading our e-book: How to complete a Feasibility Study and Business Plan would have made a massive difference.

How to become a Consultant

Career development

In tough times many people start dreaming of starting a consulting business. What separates those who achieve their dream from those who don’t is knowledge and planning. The road to success is rocky, but those who arm themselves with the best resources and solutions from the outset have the best chance of success.

e-Training Manuals “How to Become a Successful Consultant in your own field” is your roadmap to consulting success. From taking the plunge to finding the right business concept, writing a business plan, setting consultant fees this manual gives you a distillation of years of experience. Written in an easy to read step by step way, this manual will enable you to avoid costly mistakes and little known pitfalls.

Many people fail when they start new businesses because they don’t have enough business knowledge. Knowledge is the first step because knowledge gives you clarity and clarity give you purpose.

At the end of the day, most businesses fail because the people behind them stop doing the right actions or continue doing the wrong actions (often a combination of both). With the e-Training Manual How to Become a Successful Consultant in your own field”, you can learn how to function like a consultant with years of experience.

Think Tanks and Brainstorming

Staff Training

Collective decision-making is so much better than individual decision-making if it’s done well. It’s been the secret behind many organization’s success. The problem is, it requires being radically truthful and radically transparent with each other. People say it’s emotionally difficult. Not if you plan and create your meetings properly. Allow people the freedom to speak truthfully in a productive way. There is a method; it’s detailed in our eBook How to Conduct a Productive Brainstorming Session

Why staff leave organisations, it’s not money

Team development

Why are your best people leaving?

Research from the Saratoga Institute indicates of the top seven reasons money isn’t one of them.

  • Mismatch between person and job
  • Not enough training and feedback
  • Feeling undervalued or unrecognised
  • Loss of trust in leadership
  • Too few growth opportunities
  • Job or workplace not as expected
  • Stress from overwork

So what’s the answer? Learn how to select staff better by improving your interviewing skills, see our eBook How to Prepare and Conduct Staff Selection Interviews. Ensuring the right people are placed in the right jobs and understand their role and future in the organisation.
Improve your training by first understanding what training is required see our eBook How to Conduct a Training Needs Analysis.
By improving your training by providing training for the right things, your staff will be more empowered, included and understand where their future lies.

Work Less do more

There is evidence that working fewer hours is more productive. Perhaps it’s to do with fatigue but it’s equally likely to be; if you know you can only be there for seven hours, you might be more focused on your tasks. Too many managers attribute merit and value to workers who put in long hours, rather than examining their productivity or effectiveness. Read what The Economist Newspaper had to say on the hours issue here .
For my money, people who work long hours are inefficient; managers who favourably judge employees who work long hours are lazy, ineffective managers.

What music should I play in my shop?

It doesn’t matter what music you choose, someone will love it, someone will hate it.
What you like, in the way of music, is no guide to what your target market likes. There isn’t a type of music that is universally liked, in the past ‘muzak’ was widely used in lifts and other public areas. Supposedly bland enough not to offend anyone, yet pleasant. However, just about everybody hated it. If you are going to use music in your store use a variety of songs and artists played at random, and keep the volume to a level that doesn’t offend anyone. So that mother and daughter shopping won’t pass by because mother’s “Not going in there with that racket”.
Read more in our eBook ‘How to Increase Retail Sales’

Training in the 21st Century

To remain competitive, companies need to offer training and career-focused education throughout people’s working lives. Low and high-skilled workers alike for the best chance of success. But the practicalities are daunting for a start what training? There are numerous companies offering specific training: LinkedIn Learning, Amazon, Pluralsight, plus several Universities. Before you spend large amounts of money on specific training, what training is needed by your staff? How do you assess what training is required in your organisation and for which people? Our Training Needs Analysis eBook guides you step by step through the analysis process.

Are Robots stealing your job?

It’s a common idea that robots will soon steal our jobs, even though there is little or no evidence to support the notion. The Luddite weavers in 1811 thought weaving machines were going to cause mass unemployment, the advent of the tractor has reduced agricultural employment to reduce by 95% since  1910; yet employment participation remains stable.

Employment 1890 to 2016 -David Autor


Jobs are lost due to automation within an industry but are made up for by jobs in new areas. Education is our defence against robots, no one can predict what the new jobs of the future will be, remaining flexible in our abilities will allow us to take up the new jobs in the future.

Economist David Autor discusses this issues in depth in a recent TED talk