Will post chapters from UPLIFT! for the next ten weeks, then back to FLAWED GENIUS.
Chapter Twenty-Six
WANT A BETTER JOB?
Work Two For A While
I'm more motivated to work hard for myself than for someone else. I don't think I'm unusual. Taking the step into self-employment can be intimidating. For many people, though, the potential risks can be minimized with some preparation.
In my mortgage business, I often met clients in financial trouble because they changed their employment without thoughtful planning. Some of these people suffered an injury at work or were laid off, which makes these circumstances difficult to anticipate. More often, people left their jobs because they focused primarily on what they wanted without planning the best way to make an employment change.
My clients had the most difficulty shifting from paycheck employment to self-employment. They discovered that doing the work that earns the income is only part of the effort required to run a business.
One client I interviewed had been employed for twenty years as a sheet metal worker. He felt he knew everything there was to know about his business, having accumulated the needed skills and tools over the years.
Five months before I met him, he had quit his job and opened his own business. He had not starved, but business was slower than he had hoped. His van needed to be replaced, and he was behind on mortgage payments. The paperwork needed for his business was proving to be a challenge.
This client was skilled in his profession but unprepared to be a businessman. If he had taken business management and computer classes, created a reserve fund by taking out a loan on his home, and bought a newer van before quitting his regular job, he would have had a much better chance of succeeding. We found a second mortgage for this client and helped him stabilize his business. For a while, he had to pay higher interest and deal with a ton of stress, which could have been avoided.
Another client was struggling in his job as a painter because his employer did not provide him with steady work. We worked on a marketing plan. He stayed at his old job long enough to acquire office equipment. Six months later, this painter had as much work as he could handle and managed his self-employment well, even though more office time was required than he had anticipated.
The sheet metal worker had done sporadic freelance work on the side for several years before leaving the security of a paycheck. Had he increased his self-employment workload while keeping his paycheck job for a transition period, he would have improved his chances of staying out of financial trouble. Often, to create a new job for ourselves, we need to work two full-time jobs for a while.
My clients were willing to take risks in their lives, some more successfully than others. But each person put themselves on the line, staking their financial freedom on their ability to make their plan work. They all learned a great deal about planning, working, and risk-taking.
Here is a partial list of steps that have proved helpful:
· Take a thorough look at your current job, including likes and dislikes.
· How many of the dislikes might be negotiable?
· How many could you adapt to with reasonable effort?
· Discuss the significant aspects of your job with your employer.
· Be positive and flexible.
· People respond best to those who show they are willing to change and meet a situation halfway.
· If the job is not meeting your needs, plan a transition, whether into self-employment or another job. Consider taking classes, working a second job to gain new skills, consulting a career counselor, or discussing your career goals with friends.
Unemployed? Doing almost anything constructive will help. View any job as a stepping stone to the next one and as part of your ongoing education. It's easier to get a job if you already have a job.
The rough times a sudden transition can create are worth it if freedom is at stake. In this situation, adopt a crisis budget and a full-time job search. Hopefully, more fulfilling employment is on the horizon.
Not sure what to do next? Being active and interacting with others can help clear out cobwebs and freshen perspective. Mixing regularly with people and trying new organizations or activities can help. Ask people about their work and experiences. Someone at the next table in the coffee shop may be employed in what could become a new line of work for you. A casual conversation may lead to a better job opportunity.
A new job can be created. Taking the time and making an effort to prepare will help limit risks and smooth the transition.
NOTE: Soon after writing the first draft of UPLIFT!, I lived through a work transition similar to some of my clients. Bored to tears with the mortgage business, I jumped at the chance to develop box car racing on Oahu. My version of working two jobs was: 60 hours a week for the box car project; 20 hours devoted to mortgage clients. It was an imperfect transition...:)
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