Life after Redundancy What Next?

UnknownIt is disturbing for anyone to lose their job, particularly after years of service. During the current economic climate a number of industries have been so severely impacted that people are having to  reinvent themselves to consider completely different career paths and many are setting up in business themselves, which may seem a risky prospect taking into account the current state of the economy. It certainly needs a good idea and an effective business plan to make a successful venture.

But how do you go about coming up with that ‘good idea’? Well let me tell you Daniels’ story. Daniel was made redundant from his role in Human Resources in the Educational Sector. Now of course Daniel’s skills were quite transferable across sectors but he was actually thinking of doing something new and he considered the redundancy payout he’d received a gift and he wanted to ensure he invested it in the best possible business venture, one that would be fulfilling for him and sustain him and his family in both the short and long term.

We talked about his interests and hobbies, one of which is scale model making, an unusual idea you may be thinking but sometimes the more unusual and unique the idea, the easier it is to research. So Daniel went about researching his idea and in the meantime he kept himself busy with a little painting and decorating, for his own home and also for friends and family who were happy to engage his services to carry out work they themselves didn’t have the time or inclination to do.

Well as I’ve come to learn once you have an awareness of what you want, you’ll begin to see opportunities in the most unexpected of places. It’s just like when you buy a new silver Mercedes (I wish), all of a sudden you’ll see silver Mercedes everywhere.  Well true to this belief, Daniel discovered a woman who had an established scale model making business who was due to retire and he bought the business from her.

This was a good brand with an established customer base and great potential. The woman didn’t use computers and as a result didn’t utilise the web, Daniel has built an effective web marketing plan into his business plan and with hard work and a fair wind it should provide a nice income stream to supplement his savings and investments. The good thing is the margins are lucrative and the costs are low.

On top of that Daniel has become a School Parent Governor at his daughter’s school, which he’s finding interesting and he’s enjoying applying past learnt management and people skills in a new context.

The moral of this story: There is life after redundancy and with creative thinking and strategic planning you can move to the next stage of your career and life with a renewed zest for life.

*Published with client permission. Name has been changed.

Evolving Careers Players can help you establish your next career. We deliver 121 career coaching, group learning and development, and outplacement services. We devise community forum theatre, corporate drama workshops and role-play scenarios. Get in touch to discuss your needs:

Published by Carmel O' Reilly

I’m Carmel O’ Reilly, Founder of I’m the author Your WorkLife Your Way, blogger and podcaster on the subject of WorkLife. My work focuses on helping people to live their best WorkLives, by managing their learning, development and growth, through effective self-feedback, insightful self-questions and the ability to shape and tell their unique story. My Mission is: “To spread the power of WorkLives lived with Passion, Purpose and Pride by creating continuous WorkLife learning programmes that are accessible to everyone.”

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