From Layoff to Business Ownership
I was recently working with an absolutely amazing guy. He has an MBA, incredible sales and business skills, and a track record of exceeding expectations.
And he just went through his fourth layoff in five years.
Can you imagine how exhausting that must be? Every time he gets back on his feet and builds momentum, another layoff sends him right back to square one.
And here’s the thing: He did everything right: consistently meeting his numbers and going above and beyond what was expected of him. Yet despite his qualifications and performance, ongoing disruption in his industry left him facing repeated layoffs.
When we started talking about his next steps, one thing became very clear:
He was determined to never go through this again.
So we started putting together a strategy, and the first step was one you probably wouldn’t expect: getting another job.
Let me explain why.
When Doing Everything Right Still Leads to a Layoff
For years, many of us were taught that if we worked hard, performed well, and continued climbing the corporate ladder, we’d have a secure career.
But we’re seeing how quickly that can change.
Companies restructure, industries evolve, technology changes the way work gets done, and sometimes even the most valuable employees find themselves on the receiving end of a layoff.
You can be excellent at your job and still have very little control over whether that job exists tomorrow.
That’s a difficult reality to face, especially when you’ve invested years building your career. But it can also prompt some important questions:
- Do I want to keep depending entirely on someone else’s decisions for my livelihood?
- What would I do if this happened again?
- Is there another way to build the future I want?
I’ve talked before about how a layoff can create an opportunity to redesign your future.
Sometimes, an unexpected career change is what finally gets you thinking seriously about opportunities you’ve been putting off for years.
And for many of the professionals I work with, that conversation eventually leads to business ownership.
Your Next Job Can Be Part of Your Business Strategy
That brings me back to the guy I mentioned earlier.
After four layoffs, he was ready to build something of his own and gain more control over his career and income. But first, he needed to get back on solid financial ground.
We developed a strategy that started with finding another job, but with a different perspective this time.
Instead of focusing solely on salary or title, he would also consider how a position could support his long-term business goals.
Could he find a job with greater flexibility and enough time to explore franchise opportunities? Could the income help him build the financial resources he’d need to eventually become a business owner?
His next job would become an important part of that plan. And this is something I want anyone who’s been through a layoff to recognize:
You can return to corporate America and start building toward something of your own at the same time.
For some people, combining the two may be the most practical way forward.
Two Paths Toward Business Ownership
There’s no one-size-fits-all approach to becoming a business owner. Your financial situation, family responsibilities, lifestyle goals, and timeline all matter.
When someone comes to me after a layoff, we typically start by exploring two potential paths.
Path 1: Transition Directly Into Business Ownership
Maybe you’ve been considering business ownership for years and have built up savings, have access to investment capital, or received a severance package that gives you some financial breathing room.
If the timing and resources make sense, you may be ready to explore franchise opportunities right away.
Of course, starting a business requires careful planning. You’ll need to consider the initial investment, ongoing expenses, working capital, and how long it may take before the business can support your financial needs.
Every franchise is different, and you’ll have the chance to talk with existing franchisees who were once in a similar position and learn what the transition looked like for them.
The goal is to find an opportunity that aligns with your resources, skills, and vision for the future.
Path 2: Return to Work While Building Toward Ownership
This is the approach we started developing for the guy I mentioned earlier.
If you need consistent income right now, returning to work can provide the financial stability to explore business ownership while building toward your next chapter.
Some franchise models may allow you to start with a manager in place or transition into ownership gradually, while others require full-time involvement.
That’s why it’s so important to understand what a business actually requires before making a commitment.
Will your employment and business timelines line up perfectly? Maybe. Maybe not.
You might find an opportunity sooner than expected, or you may need more time to build your savings and find the right fit.
The important thing is to have a direction and start taking steps toward it.
Build a Game Plan That Works for Your Life
So how do you actually start putting a strategy together?
This is where I love working with people because everyone’s situation is different. We get to look at the bigger picture and figure out what makes sense for you.
Here are a few of the questions we’ll work through.
1. What does your financial situation look like right now?
Do you need to replace your income immediately? Do you have savings or severance to work with? How much could you realistically invest while maintaining financial stability?
Understanding your financial position helps us identify realistic opportunities and timelines.
2. What do you want your life to look like?
Think beyond your next paycheck.
Do you want greater flexibility, more time with your family, or the opportunity to build something in your community? Do you eventually want to leave corporate America altogether?
Your lifestyle goals help determine what type of business might be a good fit.
3. What kind of business makes sense for you?
You may have spent decades developing skills in sales, leadership, operations, or management.
Those skills can be incredibly valuable in business ownership, even if you decide to enter an industry you’ve never worked in before.
Franchising offers a variety of business models, investment levels, and owner involvement requirements. We’ll explore opportunities that align with your strengths, interests, and goals.
4. What’s your timeline?
Are you hoping to become a business owner within the next six months? A year? Three years?
Everyone’s timeline will be different. What matters is understanding your goals and developing a realistic plan to move toward them.
And remember, embracing change and transition often begins with small, deliberate actions. You don’t need every detail figured out today to begin exploring what your future could look like.
Don’t Let Uncertainty Keep You Standing Still
After experiencing multiple layoffs, it’s understandable if you feel hesitant about making another major career or financial decision. You may be worried about the economy, the future of your industry, or the financial risks of starting a business.
But if you’re waiting for the world to become completely predictable before you start making plans, you’ll be waiting a very long time.
Maintaining a positive mindset during uncertain times can help you focus on the decisions within your control. You may have little influence over corporate restructuring or technological changes, but you can choose what opportunities to explore and what steps to take toward your future.
This could also be the time to start thinking about what it would look like to live life on YOUR terms. Business ownership can give you the opportunity to build around your goals, create more flexibility, and have greater influence over your career and income.
Start researching franchise opportunities, learning about different business models, and building a financial plan. You can take these steps while working another job and preparing for a potential transition into business ownership.
Business ownership comes with its own challenges and uncertainties, of course. But exploring the possibilities can help you make a more informed decision about your future.
Let’s Create Your Path to Never Again
When I think about the guy I mentioned earlier and everything he’s been through over the past five years, I keep coming back to his determination to never repeat that cycle.
Right now, his priority is getting back to work and restoring his income. But he’s also committed to a longer-term strategy of becoming a business owner while meeting his financial needs.
And that’s what I want others in similar situations to understand. You have options.
Maybe you’re ready to pursue business ownership today. Maybe you need to find another job first. Or maybe you’re still employed but want to start building something of your own.
Wherever you are, we can put a plan together that fits your goals, financial situation, and timeline.
Business ownership comes with its own risks and challenges, but exploring your options can help you build a future with greater influence over your career and income.
If you’re ready to start creating your own path to never again, let’s chat. I’m here to help you figure out what comes next.
