“Start a business in this economy? Are you crazy?” Maybe not so crazy. For the moment, set aside the fact traditional employment options might be limited because of this economy. (It isn’t a news flash the job market is tight.) Instead, let’s focus on different questions: Is a business started today likely to succeed or to fail? Are there good recession resistant businesses? It all depends on the kind of business. This might not be a great time to start a business selling luxury goods. But aren’t there other options? What about businesses selling necessities? Better yet, what about businesses selling necessities at a good value? Maybe this is a great time for that kind of recession resistant business. Tutoring services, for example, are famously steady in an off economy. No matter how tight money might be, many parents will make it a priority to see their children have the resources needed to succeed in school. What about businesses that operate almost independent of the economy? Yes, there are some. Have you ever had the misfortune of having a flood in your home? A problem like that happens just as often in economic booms as it does in a recession. There are businesses that provide exactly that kind of disaster repair. It’s hard to think of a reason a disaster repair business can’t do well in a recession. What else? What about businesses with greater demand in a down economy? There are plenty of business owners struggling today. Wouldn’t this be a great time to sell services that can help turn around someone else’s struggling company? Not to mention anyone who sells a product that will help a business to lower its costs. Wouldn’t this economy help that sort of business to prosper? There are certain demographics that are growing quickly. It might be a great time to own a business that sells to the fast growing population of senior citizens. There are several types of businesses that sell to seniors. Some might provide skilled medical care, and others non-medical care. Still other businesses provide home modification services, installing wheel chair ramps, stair lifts, or shower adaptations. If you are providing this type of service, you might do very well in a world with a fast growing population of seniors. Corporate America has cut so many positions they have created an excellent opportunity for temporary staffing companies. Many retail businesses continue to do well – sales are way up at dollar stores. And, given more people than ever work from home, pack-and-ship stores are doing more business than ever. We could go on and on. Yes, this economy has hurt a lot of businesses. But it has also created opportunities for many others. There truly are some great recession resistant businesses. This might, indeed, be a great time to start a business. You just have to find one that has the right kind of market.
The new year is here! For many of us, January is the perfect time to reflect on our lives and set new goals, hoping to become better versions of ourselves. Most people make personal resolutions, like getting in shape, quitting smoking or drinking, or learning a new language. But what about career resolutions?
A career resolution is exactly what it sounds like: a resolution for your career intended to help you grow into a better professional. At Work It DAILY, we believe that you need to work on your career every day (yes, you do, in fact, need to "work it daily"). So, everyone should make a career resolution or two along with those other ambitious personal resolutions. They can be little things like learning a new skill or growing your professional network, or bigger goals like landing a promotion or getting a new job.
But how do you know what kind of career resolutions to make?
You can begin by asking yourself, "Am I where I want to be in my career?" If your answer is "no," you need to take a closer look at your career goals.
Here are five more career questions you should be asking yourself this new year to figure out how to grow your career and become the professional you know you can be.
1. Am I Proud Of My Job Title?
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You could be a janitor or a neurosurgeon, it doesn't matter. If you aren't proud of what you do for a living, there's something missing: passion and purpose.
Career burnout is real, but sometimes it's deeper than that. Our passion at 25 won't necessarily be our passion at 40. And that's okay.
When we are passionate about what we do, we are proud because we are doing what we think is important, what we love doing. We feel a sense of purpose. We are adding value to and making a difference in this crazy world—in a small, but significant way.
Every job is important. No matter what your job title is, if you aren't proud of it, and don't feel like you can leverage your strengths as a professional in the position, you should absolutely change that. Identify that one problem you want to find a solution to and go after it. What are you waiting for?
Remember, the only bad job is the one you aren't passionate about, the one that isn't allowing you to leverage your professional strengths and reach your potential.
If you don't know what your professional strengths are or what kind of work you'd find purposeful and fulfilling, we recommend taking our free career quizzes.
- Career Decoder Quiz - discover your workplace personas
- ISAT Quiz - discover your communication style
Take the quizzes now to learn your unique combination of professional strengths and how they can help you get better career results so you can be proud of what you do.
2. Do I Feel Secure In My Career?
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This is a bit different from job security. Actually, job security doesn't exist. Every job is temporary. Think you can stay in the same job for decades and then retire? Think again. While that may have been commonplace for past generations, today's workforce and job market are completely different than what they were a decade or two ago.
So what does it mean to feel secure in our careers? When we believe as professionals that we can add value wherever we are.
You are a business-of-one. A company won't want to invest in you if they don't know the kinds of services you provide, the kind of value you could add to the organization, and the problems you could solve for them. Here are some examples of questions that will help you determine if you're secure in your career:
- Are you adding value at your current job?
- Are you honing your skills, expanding your network, and building your personal brand?
- Do you feel confident that if you lost your job, you'd be able to find a comparable one in the same field?
- Do you feel confident you'd be able to demonstrate to potential employers how you add value?
Since every job is temporary, it's extremely important to constantly work on our careers and ask ourselves these questions frequently so we always feel secure in our businesses-of-one.
3. Will I Be Able To Achieve Wealth?
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When most people think of "wealth," they think of dollar signs and anything that you can attach a monetary value to. Our jobs help us build wealth. We're not going to tell you that money isn't important. Of course it is! It allows you to live the life you want to live. In many ways, money equals freedom.
But the truth is, there are other forms of wealth that are more important that you can't attach any monetary value to.
Real wealth comes in the form of family, friends, hobbies, experiences, knowledge, and community. If you don't have these things, money will never fill that void.
So, is your career allowing you to build this type of wealth? The intangible kind? Or are your relationships suffering because of your job? Is your work-life balance nonexistent? Do you have any time to pursue hobbies, learn, or volunteer?
Your career should never inhibit you from achieving real wealth. The best job isn't the one that pays the most. It's the one that pays the bills and gives you enough time to live, too.
4. Do I Have Any Regrets?
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Just asking ourselves this question can be difficult because maybe we don't want to know the answer. Acknowledging that you regret something in your life is the first step to making a change. Guess what? There's still time to chase your dreams!
If you do have regrets, that doesn't mean you haven't been a successful professional. That also doesn't mean you haven't had a good career. You could be the most successful person, but if you never got up the courage to start that business, make that career change, or go back to school, you'll most likely think, "What if?" for the rest of your life.
You'll never know if you don't try. Don't be afraid of failure. Life is just one big experiment, and it's your job to learn from those experiments. That's how you discover what works and what doesn't. That's how you discover what's possible.
And even if you do "fail," that's an incredibly more valuable experience than waiting out the clock on a mediocre career. So, don't give up on your dreams just yet.
5. Can I Reach My Full Potential In This Role? In This Career?
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When we feel like we have more to contribute to society, that's a sign we haven't yet reached our full potential. Do you feel like you're wasting your potential at your current job? Do you think you'd reach your full potential in another career?
Really think about what you want your professional legacy to be. It's a lot harder to get up in the morning when you don't find fulfillment in your work. When it comes time for you to retire, are you going to look back on your career and feel like you could have accomplished much, much more with those 50 years?
Everyone has unique gifts, skills, and expertise. When we focus on developing ourselves as individuals, as businesses-of-one, it's a lot easier to share those things with the world. Give yourself a chance to reach your full potential. If you haven't taken our free quizzes yet, your results will help you do just that. You may be surprised by what you can accomplish.
Before you get back into the same routine at work this year, we hope you take a few minutes to ask yourself these career questions. Listen carefully to how you answer them. You may need to make a career resolution or two.
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