UNITED STATES—Did you make a decision during the height of the COVID pandemic that you’d change career tracks once the worst was over? Then you’re like many other working adults who realized that it makes sense to build a more independent professional trajectory, one that is not reliant on major corporate employment, commuting, and living in a big city. The good news is that now is an opportune time to begin the transition, and you don’t need to quit your day job to do so. The main guideline for getting started is to obtain top-notch advice from a professional career counselor. Once you discover an area in which you can thrive, it will be time to put all the building blocks in place.
Begin by taking out a business loan to cover the initial expenses. Remember to start small and retain your current job until the new one provides enough capital to foster an independent lifestyle. Pay for essential training if you need it, and don’t neglect to start building a professional network immediately. Finally, pay attention to paying all bills on time and setting up a separate bank account for your new entity. That will help establish credit in the company’s name and make future borrowing much easier. Here’s how to get started.
Get Professional Guidance
If you are interested in a career change, licensed career counselors can give people several helpful directions within a short consulting session. Unless you’re already set on a particular field and job, take the time to speak with a counselor who can make suggestions based on your experience, talents, skills, and personal preferences. From there, the choice is yours, but you’ll still have plenty of options from which to choose.
Take Out a Small Business Loan
Unless you have enough savings to finance a brand-new business or career venture, consider applying for a small business loan. Aim to work with a reputable lender who can offer loan packages in a variety of sizes. Borrowing is also an excellent way to build up your commercial credit rating. By making timely loan payments and meeting your other business obligations on time, you’ll be well on the way to a solid credit rating for your new company. Whether you choose an Accion small business loan or another resource, try and find loans that come with helpful support networks, relevant managerial coaching, and educational resources that can guide you into a new career.
The most successful organizations start small. Avoid the common urge to do everything on a grand scale and hit high profit goals within the first year. In most cases, that kind of unrealistic thinking will only be detrimental in the long run. Instead, aim to start small and acquire your first few customers, one at a time. This approach accomplishes several things at once. Not only can you gain vital experience before taking on large numbers of customers, but you will acquire an appreciation for all the fine points of daily operations without being overwhelmed and falling into a workaholic mode. Another core benefit of starting slowly is the ability to discover mistakes and glitches in business plans and operational methods.