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Lost Job – 3 Ideas to Get Started Again

Lost Job – Recently I got one e-mail from a Blog reader. I lost my job. Now what? How I can take care of my family? How am I going to take care of my mom? What am I supposed to do?

It’s very nerve-racking, it’s very frustrating, and very depressing thinking about how I’m going to pay rent, how am I going to eat, and do I need to use my credit card when I’ve already maxed out my credit card. What am I going to do when I’m already in debt? What to do Shitanshu?

Well, I know many of you are going through the same thing on the surface you wanna be calm, in control, and collected. But deep inside it’s nerve-racking.

You don’t want to share that with your family. Well, first of all, you’re thinking it won’t help. Even if you share, it just makes them worry too much and you just don’t feel like sharing.

You think you wanna take on this burden and today I wanna give you 3 ideas and some tips that can help you and, over the years, what has helped me.

lost job fired

Lost Job – 3 Ideas to Get Started Again

#1 Get Another Job

The first idea is to be another job. Maybe you kind of polish your resume, update your resume, send it to these sites and talk to people and hand out resumes and try to find another job.

Sometimes, I’ve seen people. They got laid off not because of performance, it’s because, sometimes, the upper management made some bad decisions or the industry trending downward, so there’s a lot of downsizing.

Just recently I was reading an article, Twitter is laying off tens of thousands of people. 

And Twitter got money. But because of whatever structure they have,or they wanna cut back the overhead, they laid off a lot of people.

May not be a fault of your own, right? So, you could look for another job, that’s always a possibility.

And in some cases, maybe you can get a similar job that pays you the same or maybe, unfortunately, you might need to take on a job that actually pays you less or, in some cases, the skill that you have is no longer relevant, then you couldn’t even get a job.

It would take you months to do it. That’s one scenario.

#2 Start your own Business

The second idea is to start your own business. Some people, a lot of people, think, “Well, you know what I got laid off, I’m gonna start my own business.”

I always say the worst time to start a business is when you have no money because you can’t help but make decisions that may not be best for yourself and the company long-term because you’re desperate.

You cannot make wise decisions when you’re desperate.

Michael Gerber talks about that in his book, E Myth. Michael talks about how most entrepreneurs are actually not entrepreneurs.

They are employees suffering from an entrepreneurial seizure. 

The employees that are thinking about, “Hey, you know what that’s something that I could do better than that or I can create a product, I can create a widget, and I could go out there and start my own business.”

But most of the time, almost all the time, they don’t have the business skills or business acumen to make a business work.

So, that’s not a very good reason to start a business. Just like not everyone is supposed to play golf, not everyone is supposed to be a basketball player.

You can play as a hobby, but you can play business as a hobby.

But to be a professional, business person, to be a successful entrepreneur.

That’s a whole different story. But there is an option if that is what you want to do, but knowing that it is going to be very difficult.

It’s gonna take years. Businesses don’t make money in months.

Businesses take years to make money. So you have to ask yourself, are you prepared for that? Are you ready for that?

Are you in a financially viable position to do that? That is your choice.

#3 Develop a High-Income Skill

The third idea is my favorite. You could develop a high-income skill. Now, what is a high-income skill?

I define a high-income skill as a skillset that can make you more than thousands of dollars or more per month. It is not a job. It is a skillset.

It is something that you know, expertise, a skill that you have.

You could go to the marketplace in exchange for money. It could be graphic designing if you’re very, very good. It could be a website design. It could be copyrighting. It could be digital marketing. It could be closing.

There are so many different high-income skills and some high-income skills that I teach.

Why is high-income skills so important?

Because high-income skill gives you financial confidence and financial confidence equals income at will.

Meaning you have the ability, you have the capabilities to generate income at will. Your income doesn’t depend on the economy.

It doesn’t depend on the company. It doesn’t depend on some investment.

It depends on the only person that you can count on. Yourself.

That’s income at will.

Doesn’t matter where you are in the world. You can work from anywhere in the world. You can go into any industry that you know you have the flexibility and the capability, say,” You know what, I could sell my skillset and make money from that.

That’s financial confidence and that gives you peace of mind.

So, it doesn’t matter, even though you made the money, and sometimes in life that happens. Crisis happens. And you lose everything, but you know with a high-income skill, you could be successful again and get back in the game very, very quickly.

Can you see how important that is? Why it’s so vital for you to have that high-income skill? 

You could still look for that high-income job, but, in the meantime, what gives you true security and peace of mind is that high-income skill.

And that’s what I’ve been focusing my whole life on, honing my skillsets, and developing my high-income skills, because I know everything else is an illusion.

A job is an illusion. Even a business is an illusion. What I could always count on are my skillsets. I know the value that I could bring to the marketplace in exchange for money and, at the end of the day, that’s what money is.

Money earned is a byproduct of value creation. So, to make more money, you got to deliver more value.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.