Twenty years ago, I witnessed firsthand the crushing blow of losing a long-held job.
The experience was demoralizing, stripping away the sense of identity and purpose that had been tied to a title for years. This absolutely left a lasting impression on me.
Too often, our self-worth and social standing are so entwined with our job that we forget where the work ends, and we begin.
It’s as though the title becomes our entire identity.
Personally, I’ve been fortunate to avoid this fate by embracing the art of the pivot. But a recent reminder showed me just how devastating an unexpected job loss can be—especially for someone later in their career.
With that in mind, I want to offer some thoughts on how to navigate these challenging transitions and regain your footing.
Mindset: We’re not all destined to be entrepreneurs, but it’s wise to explore your passions and consider ways to monetize your skills.
While I don’t advocate planning for things you don’t want, we live in an extraordinary era of technology and opportunity. Carving out a space where you can thrive as your authentic self is simply smart.
More importantly, this proactive approach provides you with a cushion—so if the unexpected happens, you won’t lose your sense of identity along with your job.
Full disclosure: I’m not a financial attorney or tax advisor, and there are certainly tax implications to consider with my recommendations.
But I strongly recommend creating an LLC for your passion project or side hustle, even if it’s not making money yet.
I can already hear the objections—“Why set up an LLC if I’m not earning anything?”
Trust me, if you ever need to rely on that side hustle, having an established LLC will position you far better to get your business off the ground.
In addition, the less money you have, the more diligent you need to be against protecting yourself from bad actors that are everywhere, waiting to take advantage of an opportunity.
There are also significant opportunities for women and minority groups. One of the bigger factors of qualification, is how long the LLC has been in existence. Not how much money it made!
My other recommendation is to secure an EIN (Employee Identification Number) for your LLC.
I'm sure a number of you who have already tried to change your personal TikTok into a business account to receive the benefits and have discovered that without a valid EIN number, you're not going to get very far!
I have dedicated my business at Doltam Creative Solutions to address these fundamental needs, and what is necessary to create clarity in the life you desire through a myriad of programs.
But one step at a time.
Since clarity comes from taking action, not thought, I would like to invite you to take the time to set up a complimentary 45-minute consultation with me by clicking HERE.
You can also view my full video about how losing your job does not have to mean losing yourself on YouTube.
We only have one go around in this life. Don't defer to later when the only time you actually have is right now.
I look forward to speaking with you.
In Light & Love,
Heather
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