Turning Setbacks Into Successes

Posted by: Jennifer Fishbein on June 16

In speaking to readers about their workplace concerns, one near-universal theme has cropped up among those who have become entrepreneurs in the traditional sense. Many had launched their own businesses after getting laid off. All said this was the best thing that ever happened to them.

There’s Steve Shelby in Delray Beach, Fla., who founded his computer security services company after being let go from Motorola. Then there’s Christine Janssen, of New York City, who launched a market research firm after Citibank gave her the ax.

Have cutbacks inspired you to go the entrepreneurial route? Have you turned a career setback into a success?

Reader Comments

Christine Janssen

June 17, 2008 09:39 PM

Indeed - the best thing to happen to me was getting laid off last year. It gave me the opportunity and the kick in the rear to finally launch my own business. Granted it's no small feat (especially in challenging times), but I genuinely believe that entrepreneurs fuel the economy and that's precisely what this country needs more of right now. My advice is to make sure you do your homework before you jump into a new endeavor. Know your industry, market, customers, and competitors inside and out to ensure you competitively position yourself and increase your chances of success. It will pay off handsomely in the long run.

Carlo

June 17, 2008 12:37 PM

I am definitely thinking about pursuing an entreprenuerial route....even though I still have my job at a major Fortune 100 firm that is doing just fine. That's because even folks in stable companies are feeling worried and insecure about their jobs right now.. You start to realize that you can either show up to work each day, and give all your energy and time to some big firm, which has no loyalty to you...or you can channel all your energy, drive, creativity, analytic and leadership skills into your own business...and trust yourself to deliver for yourself. I really want to start my own business and set my own destiny, vs. letting some big firm decide it for me...this is about taking control! Go entrepreneurs!

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Staying Entrepreneurial contributors

Renowned executive coach Marshall Goldsmith, serial entrepreneur Jeff Bussgang, a partner at Flybridge Capital in Boston, and Dr. Steven Berglas, executive coach, management consultant, and expert on "the stress of success," share their tips for staying entrepreneurial in trying times.

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