It might be time to look at other options for your career path.
This could mean embarking on a new career or self-employment.
Starting a Business at Age 45 and Older
Starting your own business is a dream of many who never had an opportunity until becoming unemployed. You could start your dream business, buy an existing one or enlist in a franchise program.
If you've lost your job through no fault of your own, are age 45 and older, and are interested in starting your own business, DEED's Project Gate II Program can help.
Project GATE II (Growing America Through Entrepreneurship) consultants can train you in the fundamentals of starting and managing your own small business, evaluate the potential of your proposed business, guide you through the steps of business planning, and help put you on the path to success.
Some Things to Consider
Going into business for yourself has an enviable advantage in that the only person who can fire you is yourself. But self employment is not for everyone.
An absolute requirement of the approach is that you will have to become an entrepreneur. You will have to find and nurture clients, manage business partners and staff, network, research, learn new skills and be a self-starter. Self-discipline is a necessity.
On the whole, the traits needed for exploring these options sound a lot like the activity involved in finding a job, don’t they? Halfway through a job search you might decide to buy or start a business, grow one or become a consultant.
The leap toward consulting from job hunting isn’t all that much of a stretch, especially since many job seekers consult while they look for jobs. Some even stop trying to find a job because they have become successful consultants and like the flexibility. They sometimes even surpass their previous salaries and can logoff early for a game of tennis, a bike ride or family needs.
Millions of Americans have found some satisfaction and success by going off on their own. It is still the American dream. It is not easy. It is not without real challenges, such as the cost of health insurance. Still, in a time when it can seem like no one will hire you, there is one person who can hire you — yourself. It may be a time to go for it.
Starting a Business in Minnesota
If starting your own business appeals to you, it's best to seek some expert guidance.
DEED's business consultants have got you covered at most any stage with expert advice and analysis to help you avoid -- or recover from -- costly mistakes. Get help from our experts.
Check out the suite of web content we've developed for Starting a Business in Minnesota. Order a copy of our popular Starting a Business in Minnesota Guidebook.