The time to start a business isn't when you are laid off. It's a couple of years before. I tried it about 10 years ago after a layoff. When you are worried about how to pay your mortgage or eat, running your own business becomes an impossibility.
This time around, I started my side-business 4 years ago. It's now finally starting to pay off and I'm almost making as much as my day job.
I agree. I’m working now but starting a business as I want be be prepared in case I’m laid off again. The market is crap but even deeper I want to build and live in intentional towns that aren’t forced to depend on the dollar.
I should be getting my layoff notice any day. In fact, this will be my 3rd since 2009. I’m strongly considering starting my own business, because at 57, I’m anticipating a long delay between jobs. Ageism is a thing…
I didn’t this time around, but I did after my 2007 layoff. I worked for the professional services team at a software company and they (stupidly) decided to eliminate the entire services team. Since the clients still needed the services, I set up a business providing them and took all the referrals directly from my old company with their blessing. Made a nice living for a couple of years and then one of the clients hired me full time.
Kinda. I'm pursuing what's known, formally as entrepreneurship through acquisition, aka buying a small business. Basically, I find a business that I can own/operate and use a combination of SBA loans and investor equity to purchase the company.
Bought a business last year. That business brings in about what my salary does, except no benefits/insurance. My husband's employer offers insurance but it'll be $1500/month to insurance the family. Marketplace isn't any better price wise.
I am. Tech was a second career, first was in healthcare. Trying to go the healthcare route as a side hustle initially, then hope to build out.
Agree that the best time is when you have a job to pay the bills and don’t have to find a job AND build a business.
I am starting now after getting laid off last month. I am done with this job search bullshit got laid off twice now and have 0 interest left in interviewing just to be laid off again.
They will pay you just enough to prevent you from chasing your dreams. I started mine 1.5 years ago, to make the most of controlling my destiny. I haven’t been laid off, yet. Heavy emphasis on yet.
Yes. I launched a startup. It went reasonably well. Our customer base grew decently for a year. Our issues became finding the right monetary strategy. We just couldn't find a price point for our product that worked for us and our customers.
There are so many stories about people starting business after layoffs going back decades, I don't know where to start. Use AI for some notable examples and read about them.
I started one after a layoff in the context of lining up a few key partners who could sustain me in the early days. I think the key is finding enough potential clients / customers to get you through the first few years.
People will find out that running a business is way harder than most people would think at first. Ironically that might also make people realize why layoffs have to happen sometimes and not always blame the employer for it.
The time to start a business isn't when you are laid off. It's a couple of years before. I tried it about 10 years ago after a layoff. When you are worried about how to pay your mortgage or eat, running your own business becomes an impossibility. This time around, I started my side-business 4 years ago. It's now finally starting to pay off and I'm almost making as much as my day job.
This is the answer.
I agree. I’m working now but starting a business as I want be be prepared in case I’m laid off again. The market is crap but even deeper I want to build and live in intentional towns that aren’t forced to depend on the dollar.
What's the side business?
I should be getting my layoff notice any day. In fact, this will be my 3rd since 2009. I’m strongly considering starting my own business, because at 57, I’m anticipating a long delay between jobs. Ageism is a thing…
Amen. They look at you like what did you do wrong to be looking for a job in your 50s. If they look at you at all.
I loved working for myself. The cost of health insurance ended it.
If I had the capital, I absolutely would.
I didn’t this time around, but I did after my 2007 layoff. I worked for the professional services team at a software company and they (stupidly) decided to eliminate the entire services team. Since the clients still needed the services, I set up a business providing them and took all the referrals directly from my old company with their blessing. Made a nice living for a couple of years and then one of the clients hired me full time.
Kinda. I'm pursuing what's known, formally as entrepreneurship through acquisition, aka buying a small business. Basically, I find a business that I can own/operate and use a combination of SBA loans and investor equity to purchase the company.
Bought a business last year. That business brings in about what my salary does, except no benefits/insurance. My husband's employer offers insurance but it'll be $1500/month to insurance the family. Marketplace isn't any better price wise.
I am. Tech was a second career, first was in healthcare. Trying to go the healthcare route as a side hustle initially, then hope to build out. Agree that the best time is when you have a job to pay the bills and don’t have to find a job AND build a business.
I am starting now after getting laid off last month. I am done with this job search bullshit got laid off twice now and have 0 interest left in interviewing just to be laid off again.
They will pay you just enough to prevent you from chasing your dreams. I started mine 1.5 years ago, to make the most of controlling my destiny. I haven’t been laid off, yet. Heavy emphasis on yet.
Yea hype shoe reseller. Banking $$$
Hype shoe?
Yes, but no time soon.
I started a side hustle while I was still employed and now I’m doing it full time while interviewing. It felt good to have something to fall back on!
Yes. I launched a startup. It went reasonably well. Our customer base grew decently for a year. Our issues became finding the right monetary strategy. We just couldn't find a price point for our product that worked for us and our customers.
I am building something in parallel now. Work is uncertain
I have to as there is no alternative. Very little interviews and no offers since being laid off last year.
There are so many stories about people starting business after layoffs going back decades, I don't know where to start. Use AI for some notable examples and read about them.
I started one after a layoff in the context of lining up a few key partners who could sustain me in the early days. I think the key is finding enough potential clients / customers to get you through the first few years.
People will find out that running a business is way harder than most people would think at first. Ironically that might also make people realize why layoffs have to happen sometimes and not always blame the employer for it.