Maybe it’s time to throw in the towel and find a JOB
A few years ago, while at a networking event for coaches, I met an enthusiastic senior level manager who had recently left his corporate job to follow his calling to become a life coach. A couple of weeks later we arranged a coffee chat. He was buzzing with excitement about his new direction. He’d gone through a coach training program and was ready to use what he’d learned to help people. I cheered him on as a fellow solo entrepreneur.
Sadly, about a year later, he announced that he was returning to the corporate world.
And sadly, this wasn’t too surprising to me because I’ve seen far too many coaches, personal consultants, and self-help professionals struggle to make it. Running your own business is very different than working in someone else’s business as an employee.
Frankly, neither option comes with guarantees or actual, real security. It’s just as financially risky to work for a company who can terminate you at will as it is to work for yourself. I know because as a career consultant, I’ve personally coached hundreds of downsized employees, many of whom thought they were secure but weren’t. Some of them have even gone on to successfully launch businesses. I must admit that I’ve always felt especially honored to stand at the threshold with them as they explored that option.
In my work, I’ve also often coached freelancers, consultants, and small business owners who are thinking it’s time to throw in the towel and find a JOB. Most of the time, it’s family pressure that’s behind the decision. The business isn’t earning enough money to sustain the family’s changing needs. For the solo operators, I sometimes hear, “I miss working with a team.”
While both reasons – finances and loneliness – can be legitimate reasons to throw in the towel, I’ve learned that if you look beneath the surface, what you’ll frequently see is a structural problem that if addressed and fixed can change things entirely.
Unfortunately, by the time they come to me, they’re weary and worried. Should they quit the business and find a job? The first thing I do is determine if there’s any passion left. I also assess whether they have resistance to finding a job. If some passion is still mixed in there with the frustration, then we explore ideas to salvage their dream of business ownership.
Nine times out of ten, they need structural fixes for their business. This might mean adjusting operational plans, creating new sales and marketing approaches, developing a networking strategy, finding alternatives for health insurance (and thank goodness there are options), outsourcing tasks, collaborating with colleagues, inviting strategic partners, etc.
At that point, it’s a reality check. Like I said, running your own business is very different than working in someone else’s business as an employee.
Running a business means that you must have a vision, as well as a strategy with accountability to execute that vision. Employees don’t come up with a vision. And employees only take a small role in executing someone else’s vision. As a business owner, it’s all on you.
Running a business requires you to have so much passion for what you’re doing that you will venture into and work hard to master your discomfort zone. Or should I say discomfort zones? Because it might be more than one area for you.
Is that bookkeeping? Is that marketing and sales? Is it planning and follow through?
So, basically, working on your business, not just working in your business, is a structural thing.
The solution for financial need is structural. It’s having a plan and executing it, as well as consistent marketing and sales efforts.
The solution for loneliness is structural, which also means having a plan and executing it. This might include collaborative projects, strategic partnerships, volunteering, and perhaps even using your loneliness as fuel to earn the money you need hire staff.
Bottom line: You might be brilliant at what you do. You might be a rock star at helping clients solve problems and achieve their goals. But you must also develop your business acumen so that you are a rock star business owner too.
Maybe it really is time to throw in the towel and find a JOB. But before you do, consider this. If the thought of finding a job merely makes you feel relief or resigned, but not excited, then maybe what you actually need is a structural solution for your business.
And whether you choose to be a business owner or an employee, please be sure you’re following your calling!
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Angela Loeb helps people follow their callings. If you’re thinking of starting a coaching or consulting business or if you’re already in business and want to kick it up to the next level, join the 7-week cohort program she’s co-facilitating in Austin, TX. More at BizBuilderBootcamp.com.
