Lost your job or business? Where to from here ? 5 ways to move forward

Losing your job or business is scary, and the uncertainty of a secure financial future can make you feel hopeless. It can feel like you’ve been punched in the gut and are caught completely off-guard and you are thinking where to from here! 

An interesting stat is that the average millennial will have at least 17 careers over the course of their life - they need to treat these moves as an opportunity to learn and grow 

A fallout from the pandemic is that the economy and the future of work is changing and will eithereithereither

1. Lose their job - get retrenched - (maybe to a robot) 
2. Look for a change 
3. Lose their business 

It has given the employer, employee - and the business owner and leader an opportunity to make a change.! 

You may be retrenched tomorrow and your lump sum retrenchment looks amazing, or your Jobkeeper subsidy or grant may feel like a windfall - but let me tell you - it goes quickly !!!

It is super scary 

You are doing fine and boom - the next thing - - - - you do not know where to go tomorrow you are lost, confused and stressed about the future - your livelihood and way of life is in jeapardy!

Below are some 5 that you can help go forward

1. Get into the right mindset 

 Treat this time as an opportunity

 You will be hit with a flood of thoughts and emotions – anger, anxiety, sadness, hopelessness – these negative feelings can affect you and prevent you from pushing forward.

Do not veg in front of the TV or binge on Netflix or computer games and go down that rabbit hole 

By doing - by taking positive action  - will lead to more opportunities - Join a network group - with a view to connect, collaborate and grow  - work for a not for profit  - in an area you want to focus in - target your customers - and connect with them  - remember the motto (Gpwtwaygwyw) give people what they want and you will get what you want! Plan to get in front of your boss or ideal client base 

2. Treat finding a new job or business like a job  

• Look in newspapers,
•  online job boards , seek.
• Speak to friends and family
• Look to the  new- economy - Uber, Airbnb 
• Commercialise your hobby 
• What else? Share in comments below 👇🏻👇🏾👇🏿

3.  Don’t feel ashamed about applying for Centrelink or government support 

That’s why you pay your taxes. The cool thing in Australia is that no-one needs to starve! 

3. Analyse your financial situation and budget like your life depended on it! 

List your assets, liabilities - your income and expenses for the last 12 months 

 Only keep the bare essentials (food and shelter - and cut out the rest . 

Ask for a reduction in rent and potentially pause your mortgage payments. 

Avoid touching your super - and maybe look to have your insurances for need by super 

4. Re skill become a lifelong learner 

Take the opportunity to learn a new trade, profession  or business. Speak to Nexttech (www.Nexttech.edu.Au  or www.BSILearning.edu.au) (Message me and I will refer you)

Treat yourself as a lifelong learner . 

Did you know that every Australian has the ability to get up to $100k government loan - worth of accredited education - that only needs to be paid back when you earn more than $50k per annum. 

Make sure you do it with others - ideally in an area that you feel you can carve out your next career. Make sure you max out this opportunity!!!  

5. Get yourself a mentor and a coach or be part of a #bbgforum

Get them to hold you accountable - this will probably be your best investment (and in my view an essential payment) 

As my mother in law says - you’ve got to speculate to accumulate 

Remember - any change evokes the same feelings - by most people - and the one thing you can be certain about in life - is change 

Don’t just choose action - choose “the right action” 

Look at every cent you spend as a cent towards your survival, and every minute  you spend as a gold coin - toward getting back on your growth path 

Inspired by Smart Ways to Manage Money After a Job Loss

By Tracey Edmonds