Are you reaching the point where it is time to move on in your career?
Why are you staying?
Inertia. Inertia is a dangerous thing. You might be saying:
I have been here too long to just leave.
I am too valuable to let go.
I will wait for the next package to come along.
Or, are you just comfortable in your position, and to move on would be a lot of work?
Either reason is dangerous. In most cases, you probably have not yet formulated a Plan B.
I am currently working with a gentleman who has worked for a large technology company for over 30 years. Last year, everyone on his team was offered an early retirement package. My client turned the offer down.
The problem was that everyone else on his team took the package! His boss even took the package.
He is now doing the work of four and, best he can tell, there are no plans to back-fill the other positions.
He has been offered a generous retirement package again.
Is it time to move on? You tell me!
I just talked with a nice lady today who has been programming IBM mainframes for the same company for 20 years. Her employer has rarely laid anyone off. The plan is to migrate off the IBM mainframe over the next few years.
She is being offered opportunities to learn new programing technologies, but it does not excite her. She really does not know what she wants to do. She is in her early 50s and has been doing the same thing for a very long time.
It is time to move on! The problem is what to move on to.
18-24 Month Plan
She is like several clients that I have whose time to move on is very near. With each of these clients, we are putting together an 18-24 month plan. They know the future lies in working for themselves in one way or another. That plan includes:
- Performing market research on starting a business, freelancing, or finding multiple employers that would be interested in their services on a contract basis
- Creating the business plans for the next step
- Establishing their business on paper as either an LLC, LLP, S-Corp or C-Corp
- Creating a budget and allocating resources
You are probably saying, “How will I do all that?” I am sending all of them to their local Small Business Development Center for help! These centers are funded by the U.S. Small Business Administration (SBA) and are FREE!
When the time comes that they are approached with a business opportunity or told by their current employer that their services are no longer needed, they will be ready.
They are ready financially.
They are ready with the business plan.
They are ready emotionally.
It is the third piece that is really crucial.
When I started Career Pivot, I had my business plan in place. I knew the financials. I am a recovering engineer, so I had everything logically laid out.
That still did not stop me from waking up at 3 AM every morning in a sweat thinking, I do not have a paycheck.
Being ready emotionally, when the time to move on comes, is critical.
Are you going to be prepared when the time is right to move on?
This will be my last post for the Personal Branding Blog. You can always find me on the Career Pivot Blog every week.
Check out my book Repurpose Your Career – A Practical Guide for Baby Boomers