Don’t Come Monday

Now that it has finally happened, I’m feeling a bit drained and over it all. More than a year ago, my senior manager indicated that projected work was not at the level previously anticipated and that this may have in impact on the team. A few months ago, he announced the process to be undertaken for a resources review within the team. A few weeks ago, he advised me that my position would not be carried forward into the new financial year and a few days ago, he confirmed the date and details of my departure.  Because of ongoing projects, that won’t be for three months yet, but at least there is a definite date.

Some people have no notice of impending redundancy, having their work ID card and mobile phone retrieved as they are being ushered out the back door. I can’t complain about the lack of notice, nor the redundancy payout which is more than fair. Between the sudden death approach though and the painfully drawn-out process that I have experienced, there should be a realistic and compassionate compromise.

All is not lost however. For some time the joys of corporate life have not necessarily been waning but the joys of working with decreasing autonomy and increasingly restrictive policies and procedures palled a long time ago.  Most people hit a peak in their career a long way before retirement age.  From then on, the opportunities are fewer, and career moves seem to be sideways rather than forwards.  Increasingly, I have been thinking ‘Is that all there is?’ Motivation has been at an all-time low, driven only by the salary that was deposited into my account each month.

I have been planning my escape route for a while and my redundancy payment will help to fund the start-up phase.  Of course my nearest and dearest are advising that I should be taking all sorts of actions now to attempt to secure another job and not to rely on my own devices, but you know what?  I am not going to listen.

For a start, I am what would be described as a mature-aged female and I know that options for re-employment are limited.  From about 40 onwards, I found that opportunities dried up significantly.  If I think back to the times in my working career when I have been the happiest and the most engaged, it has been when I was self-employed.  My success record has been a bit erratic, but in hindsight, I can see that I was under-funded, lacking in crucial knowledge or experience and without appropriate mentors.  In spite of those impediments, I still managed to support myself.

This time, I have a wealth of life and commercial experience, and a better understanding of what I don’t know.  I am up-skilling and on a massive learning curve.  At times it seems totally over-whelming but it’s exciting too and I can’t wait to be able to devote myself to growing the business full time.

It won’t be without challenges, and I will put together a risk management plan to mitigate those.  Social isolation, demotivation, and time management are a few of the issues that I will have to address.  I am relying on planning and networking to help here, plus explaining to others that working from home is still ‘working’ and explaining to my two cats that just because I am  here through the day, does not mean that I am available to constantly refill the food bowl.

I am really interested to learn how others have tackled the career change later in life, and in particular if you have started an entirely new business.  Did you feel more confident as an encorepreneur?  What were the problems that you encountered?  Are you glad that you did it?  Tell me.

At any given moment you have the power to say that this is not how the story is going to end.

In Praise of the Entrepreneur

A few days ago, I read an article online about several bright young millennials who were feted for their entrepreneurial spirit, and rightly so for they had done well. I picked up the assumption on the part of the author that she thought that Gen Ys or the Millennials as they are also known, are a go-getter breed of entrepreneur, the likes of which have not been seen before.

Lemonade Stand

There were several reasons flagged for this by those who were interviewed within the article:

  • Millennials are not afraid to question authority;
  • They are flexible and entrepreneurial;
  • They harness new technology in the interest of getting things done easily and efficiently; and
  • They are hungry for success and have the confidence to go out on their own.

It was even said that ‘this special generation benefits from knowing how things were done before mobiles, the cloud and Google.’  (I snorted so hard my tea nearly came out my nose when I read that claim. Most millennials have never known a life without a mobile phone, or Google.) It was also noted on the negative side that Gen Ys can be impatient and too focussed on technology over face-to-face interaction.

It made me review my own businesses start-ups, the first of which was when I was 18.  It was an abysmal failure as I had no idea about marketing, location, pricing, or any of those essential details.  I had learnt a bit by the time that little enterprise folded.  My next businesses were in my twenties and they were more successful.  One, I now realise in hindsight would have probably set me up for life if I had developed it further and hadn’t sold out too soon.  I lacked formal business and financial training however and learnt on the job, often by making mistakes.  I so wish that I’d had a good mentor during those times but I was a female trespassing in traditional male spheres and the welcome mat wasn’t exactly thrown out.

The point is however, that although I am now a baby boomer, in my earlier years when I didn’t have mortgages, and a child to support and educate, I was able to act on my bright ideas.  I never saw them as taking risks, but more rising to the challenge and having a go.  I suspect that this has always been the case, and the Millennials of today are merely following in the footsteps of generations who have gone before.  With the benefit of internet-based technologies though, they are able to harness information and learnings that were not so easily accessible before.  They can contact other people online who are engaged in similar activities and set up mutually supportive networks.  They can even use crowd-funding to finance new ventures.

I have never stopped having the ideas, and have a file full of incipient business plans for the next great scheme that might just be challenging, and a bit of a winner.  An online bookshop did well for a decade, before more cashed up competition prompted its slow demise.   I also didn’t know what I didn’t know about internet marketing. Once more, I’ve learnt a lot.

Now that said child is off my hands and I have a little more financial flexibility, I can again consider the options for casting aside the corporate 9-5 and pursue some of my dreams again. I suspect that I’m not alone and that there are a few more budding seniorpreneurs working on their business start-ups.

What about it all you Gen Xs and Baby Boomers?  Has that entrepreneurial spirit spluttered and died, or are you biding your time for when you can give it a go again?  Are business start-ups the province of the young?