Work/Careers

How Will You Choose Your Next Career?

Ready to leave the 8 to 5 daily grind? Here’s a few thoughts that will help you make the transition.

How are you going to choose your next career?

Like any decision that can potentially affect your income and how you spend your time, you’ve probably looked at others who are doing something similar and measured their results against your expectations.

The first comparison is usually money.

How much are they making? Is that the average for the niche market they serve? It is enough to replace your current paycheck? And most important, can you grow it with greater effort or more effective marketing?

For example, if you want to make $250K a year and the average income for, let’s say, a podcaster, is seldom enough to pay for their equipment and hosting, then it’s probably wise to consider another way of making a living. Certainly, podcasting can be a part of a marketing plan. But as a stand-alone business, very few podcasters make enough money to pursue the activity as a core income generator.

And what about the investment of your time?

Are those who are generating an enviable income devoting a reasonable amount of time for the return they’re receiving? Or are they working 7 days a week, 12 hours a day? And if that’s the case, are you willing to the do the same?

I’ve heard many business gurus, bloggers and podcasters claim that financial success is found at the intersection of passion and talent. In practice, that means making a list of those things that get you excited — the activities that motivate you to the point that you’re willing to get up every morning and do them again, day after day. When you’ve identified those, then make a second list of your talents and expertise. When you find a match between the two lists, that’s your passion — what you should pursue as your occupation.

If you’ve done the exercise, you know the results are usually nothing more than a projected fantasy. You can’t trust the outcome — you can’t know for sure — because you haven’t tried it.

Here’s the truth: We find our passion by trying out new and different things.

We may be terrified of public speaking, but after forcing yourself into making that training presentation at work or giving the best mans’ speech at your friend’s wedding, you find out you really enjoy holding the attention of the audience while you tell a story, teach, or entertain.

Most people discover their passion by doing the work, and then becoming passionate about it — because they enjoy it, or it brings them a sense of accomplishment, or they can make money at it.

Discovering your passion comes from doing, not dreaming.

So when it’s time to consider what you want to do next — especially when it’s another way of making a living — don’t spend your time looking for some magic correlation between your interests and talents. Instead, think about new things you can try, new activities in which to participate.

Need more information?

The process of research can often lead you to a new career because of what you don’t find.

If an internet search brings up sources that are missing the details you need, or you don’t think they represent the current state of the industry or market, consider starting a website and provide the content you believe is important for others to know.

Teaching others how to create desired results or change is a great way to develop a curriculum that can be sold online. If you have some level of expertise in a particular subject, write about it. Submit your articles to online publications or post them to your website.

You can also create videos or podcasts that will help establish yourself as an online expert. And if the market is there, you can offer educational products for sale in the form of books or training courses.

Just keep in mind that when creating an online business, you have to put the emphasis on providing value for the consumer.

The fact that you use the internet to market your product or service doesn’t alleviate the responsibility of making a clear and concise presentation, building trust, eliminating risk, streamlining the process of purchasing, and delivering your product within a timeframe that meets the customer’s expectations.

And don’t be coaxed into thinking that building an internet business automatically gives you license to lower the market’s objective standards of quality. Hiding behind a landing page doesn’t grant you the privilege of trying to hawk a piece of worthless junk or a well-worn piece of information that has no real value.

If you don’t feel comfortable with the idea of sitting down with a prospective customer face-to-face and making the same presentation you plan to put online — including the feature-benefit story, the testimonials, the price and guarantee — then why would you offer it via a website?

Make a commitment to stand behind whatever you’re selling.

If a buyer has a problem or a question, make it clear you’re there to help. And if the product doesn’t meet their expectations — for any reason — you’ll gladly refund their money.

Certainly, use the internet as a tool. But build your business on the same traditional concepts that have made small business owners successful — with or without the internet.

While you’re in the process of considering new options, try asking yourselves these questions:

• Will your new business lead you to your life’s work? Or is it simply a way out — a feasible alternative to a job you hate and need to leave?
• Are you looking for meaning in your work or just the promise of more money and financial independence? One doesn’t necessarily lead to the other.
• How long do you see yourself doing this type of work? Are you ready to commit to a new profession for five years? It takes time to build brand recognition and a reputation for quality. If you’re not prepared to make the commitment, it’s the wrong choice.

Any new plan to acquire or build a new business should also include an exit strategy.

How will you separate yourself from the business when it’s time to move on? If you plan to sell it, keep in mind that some business can be evaluated based on their net cash flow, brand recognition, customer base, or the cash value of assets. Others are valuable because of the individual running them.

If you plan to build value through celebrity status, you’re not building a business, you’re creating a personal brand. If your goal is to build a business that can be sold in the future, design systems and processes that can be replicated by others.

Finally, don’t eliminate a business opportunity simply because it’s not internet-based.

Yes, the idea of creating an automated money machine feeding your bank account 24 hours a day is appealing. But many of these so called “lazy ways to riches” are often nothing more than click-bait.

Typically offered as an online business program, you’re promised the “inside secrets” to acquiring wealth and influence. What you end up with is a blueprint to create a duplicate copy of the same business — including the identical pre-packaged insider secrets, landing pages, and advertising copy. Little more than a digital version of a Ponzi scheme, these programs waste your money and time.

Whether you decide to work as an employee or follow the path of the self-employed, the success you ultimately achieve will reflect your commitment to do the work. There are no shortcuts or “easy ways to riches.” (At least, I haven’t found them.)

If you’d like to share your experiences from a recent startup or career transition, please leave a comment. Your perspective may help others who are also ready to change their professional direction.

© 2021 Roger A. Reid. All Rights Reserved.

Roger A. Reid is the author of Better Mondays: The New Rules for Creating Financial Success and Personal Freedom (While Working for the Man)

Roger A. Reid, Ph.D. is the host of Success Point 360 Podcast and author of Better Mondays and Speak Up. A certified NLP trainer with degrees in engineering and business, Roger offers tips and strategies for achieving higher levels of career success and personal fulfillment in the real world.