For many people, owning a business is a long-time dream. However, when this dream doesn’t pan out, it’s time to jump back into a more traditional role and find a job working for someone else. This can be a slightly uncomfortable change and may take some getting used to on the part of the former business owner. In order to ease the transition, consider these points:
Come to terms with the change
If you weren’t totally thrilled about the idea of selling or closing your business, it may be hard to come to terms with the fact that you’ll now be working for someone else. If possible, give yourself some time to accept your new reality. If you jump back into job interviews when you’re still feeling bitter, you won’t have the success you would if you were to wait a few weeks.
Think about how you can use your skills
Some people feel ashamed about the fact that their business venture didn’t work out. In reality, this experience can actually be hugely beneficial when you step into an interview situation. Though the company may not have enjoyed the success you had hoped, you still learned a lot during your time as a business owner. Promote these skills during your job interview. Whether you learned bookkeeping, recruiting, or computer skills, don’t be afraid to talk about the experienced you gained. You can use these abilities again when you get a job working for someone else.
If your business’s closing made headlines in local media, you may feel slightly embarrassed about venturing into a job interview in that same town. In this instance, relocating may be a smart decision. A fresh start in a new city can be a confidence boost. Plus, now that you’re not tied to a specific area, you can begin searching for jobs in places where the economy is booming and your industry is experiencing significant growth.
Be aware of the shift in roles that will be required
Probably the most difficult thing will be shifting roles as you go from being the boss to being a staff member. Even if your new position includes a management title, it will still feel different when you’re not the business owner. Be conscious of this in your new position. Make sure that you’re listening to directions and are not inadvertently stepping on other managers’ toes.
How did you make the transition from business owner to employee? Share your story with us in the comments!