In recent months, I have met people of all ages and backgrounds who are having to come to terms with the fact they have been made redundant by their employers. Apart from the obvious financial implications of redundancy, there are underlying factors which impinge upon an individual’s ability to maintain a positive and healthy lifestyle. Redundancy can have a serious effect on self esteem – the word itself – “redundant” speaks volumes to us about how we may see our position in the world, once we are told that our services are no longer required.
Having faced redundancy myself some years ago, I found huge consolation in remembering that it is not the person who is made redundant, but the position. Realisation of this fact enabled me to reflect on the many possibilities that may be waiting in the wings, opportunities which I had been unable to see beforehand. With the benefit of hindsight, I can say I am glad to have experienced redundancy, as it afforded me the chance to build a better and more rewarding lifestyle. Without redundancy, I doubt whether I would have achieved the fulfilment in life that I now experience.
Some people, when faced with redundancy, decide to use their redundancy payment to start their own business. If you are one of these people, I ask you to consider seriously the fact that you have probably worked extremely hard for that money. Before rushing out and opening a business due diligence should be applied to finding out how to plan and run a successful business.
You may be an expert in your chosen field. However, to be successful, running your own business will necessitate acquiring business skills such as marketing, financial forecasting, financial management, and knowledge of the rules and regulations appertaining to self employment. The ability to examine the concept of a business idea and assess its viability is key to identifying risk factors. Investing your redundancy money in a business wisely, will depend on assessment of the risk factors involved. Once you know the risks, you will be able to see whether you are comfortable with these, and whether or not you firmly believe that through starting the business you will obtain a return on your investment. With the right product or service at the right time, a bright future awaits the right person. You really cannot afford to gamble money, especially in challenging economic times, without taking the time to ensure that you are equipped with the tools to do the job.
One of the great ways to overcome redundancy is through the avenue of self employment. Gaining independence through working for ourselves has a profound effect on confidence and self esteem. There are so many different avenues for us to develop skills and abilities that may be at this moment untapped. Many new businesses take pride in the fact that they can offer employment opportunities to others. However, before we can yield these kinds of benefits, we must take the time to prepare ourselves properly. The right knowledge is priceless!
Choosing to attend the Best Start Business Planning Course with Best Support will raise your levels of awareness to all the matters you need to consider when deciding whether or not to run your own business. The course will show you how to plot and plan your proposed route on the business journey. Having confidence in the knowledge you need to run a business will underpin the knowledge you have relating to your chosen product or service. If you decide to open your own business, you will be doing so knowing you have assessed the risks involved. Having been through the course, you may decide that self employment is not for you. If that is the case, your time on the course will have not been wasted. The skills learnt can be applied to other areas of life.
Remember you have not been made redundant, your position has been made redundant. This is a very powerful message on the road to overcoming redundancy.
By Joseph Barrell, Business Support Specialist, Best Support
