Do you wonder if it is really a good transition when your job description has changed? Maybe you heard through the grapevine that your company is downsizing. With more tech tools every day that bring confusion and implementation of new systems that don’t include your position, should you retire honorably or wait out the inevitable notice that you’re no longer needed?
Things that used to sound smart and trendy to you are now old school. Saying something you think is clever garners rolled eyes from your kids. Lately you’re hearing She’s experienced, which sounds like the words said after a blind date, She has a nice personality! Chances are, there won’t be a second date! Maybe a good transition is what you need. This is a common scenario at the halftime of life.
You keep telling yourself you’re not getting that old. Sure, there are a few grey hairs, (well, maybe more than just a few!), but with your wise counsel and people skills, you’re an invaluable asset to your company, aren’t you? You’ve given a good part of your life to this company. What in the world will you do if it’s really over?
A Good Transition
You’ve thought about starting your own business for a long while. In fact, you’re ready for a good transition as your present job has become monotonous and unchallenging. Plus, with recent cuts and increased driving time, you’re making less than you need every month and it feels like you're working more. But why make this supposedly good transition now? The kids aren’t even through college yet! Is this the right time?
There is a certain amount of fear as to where to start. You know starting a new business is hard. In fact, statistics tell you the odds are not good you will make it past the first year: 20% fail the first year and 30% the second. (https://www.fundera.com/blog/what-percentage-of-small-businesses-fail ) Build it and they’ll come doesn’t work any more. Can you really do this? The principles below will help you with your decision.
Three Principles for a Good Transition
PRINCIPLE ONE: Create a strong brand. Don’t just see what’s trending and follow it. That is a major mistake many make. What about the songwriters who all start sounding the same? If that's you, you may feel like quitting after just one year! The ones that break through have something unique. Find what is uniquely yours. Don’t be afraid to get help with this and take some time to discover your why, what and how.
PRINCIPLE TWO: Start slow with a great business plan. I know of several who have taken huge hunks of inheritance to invest in the business they’ve always dreamed of only to lose everything within a year or two. Definitely meet with a qualified financial advisor and if pursing a franchise, please talk with a trusted franchise attorney or even the International Franchise Association. (See https://www.franchise.org/ for more information)
PRINCIPLE THREE: Create a strong support system. It is very important to have a close circle of trusted contacts. You don’t need a lot of people in this group. Even three to four people as trusted advisors and confidential friends will help you emotionally weather the storms that will surely come your way. When putting my small circle together, I hand-picked trusted contacts I had worked with closely in the past. We are all in different fields, but they each understand my purpose, beliefs and goals.
These are very basic principles and steps, but I hope they dispel some of the fear as you face your own good transitions. We are all on the train, gaining experience and knowledge and all will be said and done at some point. In some eyes, our increasing years are valuable and others, not as much. Gaining your own independence with confidence and wise guidance is what I hope you employ to make your good transition truly great!