Planning alternative careers for some of us may not feel intuitive. Spend sometime opening your search to new ideas. You just may find something new is in order for you. Think through all the alternatives for your next phase – new role same position, new role lesser position, contract work, consulting, starting a business, buying a business and investing in a franchise business. The latter 3 ideas tap into both your entrepreneurial skills and the disciplines you have learned over the years in corporate environment. Explore why many decide at mid-stage to become their own boss. Business ownership allows you to build an asset which is more valuable to you than a salary – $100K-$200K cash flow in a business is an asset that is greater than a corporate salary as it can be sold for a multiple. Join our NPN community and learn about the B Plans that have led to new career success.
Financing Your Business
Seek all alternatives to financing your own business. Beyond your personal assets of savings accounts, stocks or home equity credit lines, many new business owners tap Small Business Loans, personal loans from friends & family and leveraging their 401K savings without penalty through Roll Over Business Start Up (ROBS).
Buying A Business
Many small business owners from the Baby Boomer generation are ready to retire and they have no offspring that want to take over their existing business. Bizbuysell.com is a resource to review the small businesses for sale in your area or maybe in that dream place where you wanted to relocate. Review of financial P&L, lease obligations, owner’s income and the valuation of the business are critical factors to analyze to assure you are making a good investment.
Consider A Franchise
A franchise is a type of license that a party called franchisee acquires to allow them to have access to a business’s or franchisor’s proprietary knowledge, processes, and trademarks to allow to sell a product or provide a service under the business’s name. In exchange, the party pays a start up fee as well as ongoing licensing fees.
Lifelong Learning & Success
NPN Preferred Members enjoy free access to webinars to learn a multitude of topics such as reinvigorating your resume, planning for multi-stream income generation, creating a business plan, etc. Sign up now!
Opportunities for Pros
Next Phase Network Preferred Members enjoy free access to job openings for mid-stage career professionals across a variety of functions and industries. Search new openings and find your next phase opportunity.
Start an Action Plan
Take charge of your next career move now. The current job market for mid-stage professionals is challenging to navigate. Proactively seeking new opportunities is critical to reaching your success. Your future starts with a plan.