"What now??"
That is the question I hear from a lot of women when they are facing a change in life and career. Those familiar roles have been left behind, or the role has left them behind.
And it IS a big question that doesn't have to be answered right away. Life evolves. Our careers evolve and it takes time to develop our NEXT as I outlined in a recent post Change - It Takes Time.
We are living longer lives and staying engaged in our middle years is definitely achievable. But it will require thinking outside of your comfort zone or be willing to take work below your ability and income level.
Something that I have always advocated and encouraged is to consider entrepreneurship. Even as a solo entrepreneur to create a career and income that is suitable to the life you have in place.
Here are some reasons:
- You can scale up or down and create the income you desire
- There are fewer obstacles to overcome. Yes, there are obstacles in owning your own business but you have the flexibility to find the solutions and to create a result for yourself.
- You can remain relevant and grow
- You have experience to draw from
- You have a circles - a network in place
- You have resources
- You can create something that is all your own.
- A flexible schedule
- Do and build something you are excited about and believe in.
Yes, there are risks involved and having to rely on yourself for a paycheck. It can be stressful so planning and thought are encouraged.
But in the current climate of the workforce combined with a personal life and ageism becoming a real issue, how certain can you be of continuting employment? Especially a C-suite position or executive level position you have work for and acquired - and continue to be employed through your late 40's - 50's as a woman?
Studies show even men are struggling to stay gainfully employed past 55 and we are living into our 90's.
This is an issue that we all hadn't considered during our 30's but is in fact a problem for a growing segment of our population Episode 7 on NEXT with Elizabeth Ribons Podcast, spotlights this very real issue with author and TED Speaker Elizabeth White. Her book: 55 Underemployed and Faking Normal outlines her story as a highly qualified and well paid executive suddenly finding herself unemployed. She also spotlights other's stories, providing insight and options outside of becoming an entrepreneur.
At this juncture in life, does it mean you are unnecessary or irrelevant? No. Consider it an opportunity for engagement and growth. It will require a creative approach to charting your journey, thinking outside of your comfort zone to reinvent and create a new chapter.
Many get overwhelmed and choose to take lesser paying jobs that provide stability. And that is ok but for some, but others see this time as an opportunity to branch out and do the thing they always wanted to. And it may be the best time to do it.
In fact, studies show women in their 40's and mostly 50's are the ones who are succeeding as this Next Avenue article reports. The article points to an almost perfect fit - especially the section: "Midlife Women and Entrepreneurial Mojo" These are small businesses that are not "disrupting" anything but consistently growing and building.
What most think of when the word "entrepreneur" is suggested are Startups. Startups are businesses that require large amounts of capital and real commitment but the rewards are there if you are can go the distance and have the dream to see it through.
And again, women in midlife are a good fit for it as shared in this piece, Mid-life Startup Tips - Forbes It is inspiring, but it is not the only kind of entrepreneurship to consider. It depends on what you want to achieve for yourself and the life you see yourself living.
Last is the option of becoming a solo or micro-entrepreneur.
For example, if you have a talent and experience that you can market as a service and keep your overhead low - a financial consultant, teaching the english language virtually, being a VA, etc. small businesses that you can grow - that is a way to build a solid business without taking on as much.
Remember, nothing is easy or push button. It takes effort and you have to research and discover what will be best for you.
The articles given provide insight but you may still be in the "What Now?" phase and not sure What's NEXT for you or even how it might look.
The Compass Course can provide insight into next steps. It's a workbook (no cost) to start the journey of knowing yourself and your life in place well enough to begin to consider what in fact could be NEXT for you. It's a start and that is usually the biggest hurdle but this is an opportunity to begin to answer your "What Now?" and embark upon what could be a terrific time in your life.
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