Transitioning to a Full-Time Job
Are you looking to return to full-time work after running your own business? You’re in good company. According to the Small Business Administration, only about half of small businesses with employees survive for five years. Meanwhile, a recent study by the National Academy of Sciences indicates that if the crisis lasts for four months, only 47% of businesses expect to be open in December compared to 72% if the crisis lasts for just one month.
Note: You are not the only one looking to return to the corporate world. Many business owners are in similar positions, evaluating their options for the next phase of their careers. Additionally, some of the most successful entrepreneurs stumbled before finding their winning idea. Do you remember Traf-O-Data, Virgin Cola, or Oswald the Lucky Rabbit? Probably not, and that won’t be surprising to Bill Gates, Richard Branson, or Walt Disney, respectively.
Transitioning from Freelance to Full-Time Employee
Regardless of the reason you’re seeking a full-time job, the transition from entrepreneur to employee can be challenging. The Balance Careers spoke with Octavia Goredema, an award-winning career coach and founder of Twenty Ten Agency, and Don Rosenberg Mackay, a job specialist and resume consultant at DRM CareerHelp, to learn more about how to manage this transition successfully.
Here’s how to find a job, pique the interest of hiring teams, and thrive in the workplace, no matter how long you plan to stay.
Give Yourself Time to Grieve
The first step is the most important. Allow yourself to grieve before you start your path back to a full-time job. You’ve lost something you worked hard to achieve, and even though you’re not responsible for it, it still hurts.
Note: Positivity is important in a job search, especially after a significant transition. You’ll need to be able to show potential employers that you’re excited about the opportunity and make a case that your experience and skills make you the right person for the job, regardless of your winding career path. It’s hard to do that if you’re still mourning your previous work.
It may help to put your situation in proper context. “If entrepreneurship didn’t work out the way you planned, that doesn’t mean you failed,” Goredema said. “Every experience is valuable, and what you learned is what matters most.”
Turn Disappointment into Positive Action
“Your career journey is yours to define, not anyone else’s,” Goredema noted. “Focus on what’s ahead. Look to the future, don’t look back.” According to the career coach, refusing to let go of hope in the past will help you focus on what you can control, explore what interests you, and help you determine what you want to do in the future. “Keep moving forward, one step at a time,” Goredema advised. “Turning disappointment into positive action will drive you, and you might be surprised by what awaits you.”
In the end, she emphasized that everyone faces setbacks, but no matter what happens, it won’t define you forever. “Instead of directly comparing yourself to others, think about what you have achieved and what you have learned from tough times,” Goredema said. “These experiences, even the bad ones, are the building blocks you can use to carve out your career path as you continue to move forward.”
Consider the Positive Aspects of Returning to Work for Someone Else
One thing that may help—whether you’re processing your grief or preparing for job interviews—is to think about the positive aspects of returning to employee status. “It may feel shocking to let go of control, but remember that transitioning from freelance to full-time work also means relinquishing responsibility for everything that happens in your company,” Rosenberg Mackay said. “As an employee, you will certainly take your work seriously, but your responsibility will be limited to your role.”
And with
returning to work, you should be prepared for significant changes, including a less flexible schedule. “This doesn’t mean you didn’t work hard when you were self-employed, but it’s likely you didn’t have to stick to a strict schedule, as your employer will expect you to do,” noted Rosenberg McKay. “Perhaps you were working early in the morning or late at night, taking advantage of times when you were most productive or had fewer family responsibilities.”
Highlight Relevant Skills for Employers
Before you even sit down to update your resume, make a list of the skills, qualifications, and relevant experiences you possess. To get an idea of what will be attractive to hiring managers, review job postings in your field, paying close attention to the keywords that appear frequently in the job descriptions.
Remember that your experience has equipped you with valuable skills. Entrepreneurs wear many hats and become skilled at managing priorities and getting things done – all of which is impressive to employers.
Rosenberg McKay emphasized that it’s essential to focus on the skills you gained from running your own business, such as problem-solving and communication. In your resume or during job interviews, she advised discussing what you miss about working for a larger company – for instance, the opportunity to work as part of a team – and warned against talking about the downsides of freelancing.
Quantify Achievements
Even if your recent business venture failed, there may be aspects of your operation that were impressive. Perhaps you used outdated technology in an innovative way that saved money for your business. Maybe you solved a recurring problem by inventing a solution that could be beneficial in the targeted job.
“Make sure to focus on transferable skills as an entrepreneur and quantify your achievements,” recommended Jouridema. “Monetary amounts, percentages, timelines, and volume are some ways you can use to make your accomplishments stand out on paper.”
Connect with Contacts from Your Previous Work
As an entrepreneur, you have a significant advantage in your job search that other candidates do not: your network. Every client, employee, and colleague is a potential source for recommendations, referrals, or constructive feedback. A contact in a similar role to the one you’re targeting might be able to review your resume and tell you what works, and a former client might have glowing reviews of your work to share with potential employers.
Highlight Your Qualifications in a Summary Statement
If you’re looking for a new role for the first time in a while, updating your resume can be overwhelming. However, Jouridema noted that “each version will become stronger and stronger as you tailor your resume to the roles you are targeting.”
As you pivot your career path, try using a summary statement at the top of your resume. “A strong, concise statement that highlights your most relevant experience and skills and their impact aligned with the role you’re targeting will make you a compelling candidate,” she said.
Capitalize on Your Most Feared Interview Question
Has it been a long time since you were on the candidate side of the interview table? If so, Jouridema advised asking a friend to conduct a mock interview. When you do that, she said it pays to “focus on the questions that scare you the most in the interview.”
Note: One of the scariest questions might be the most open-ended. Since there’s usually an introductory question like “Tell me about yourself,” Jouridema said: “You want to start your interview strong, and this is your chance. Smile, then highlight your experience and skills that align with the role. This is an opportunity to explain your transition from entrepreneurship to employment. Don’t apologize or downplay it. Stay positive and work-focused, and close your answer with an example of your achievement.”
After completing your mock interviews, ask a friend to give you honest feedback. Goredima also suggested recording your interview via Zoom or another video platform so you can see yourself and how you present.
Main Ideas
- Don’t rush the transition: Give yourself time to grieve and process the experience before moving forward.
- Stay positive: Focus on what you learned and how you will use that knowledge to solve employer problems.
- Emphasize your achievements: Use numbers, percentages, etc., to showcase what you have accomplished.
- Practice before meeting with hiring managers: Use mock interviews to practice presenting your arguments.
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Sources:
- Small Business Administration, Office of Advocacy. “Frequently Asked Questions.” Accessed August 21, 2020.
- National Academy of Sciences. “The Impact of COVID-19 on Small Business Outcomes and Expectations.” Accessed August 21, 2020.
Was this page helpful?
Thank you for your feedback!
Tell us why! Other
Tell us why!
Other
Submit
Sources:
- Small Business Administration, Office of Advocacy. “Frequently Asked Questions.” Accessed August 21, 2020.
- National Academy of Sciences. “The Impact of COVID-19 on Small Business Outcomes and Expectations.” Accessed August 21, 2020.
Was this page helpful?
Thank you for your feedback!
Tell us why! Other
Tell us why!
Other
Submit
Sources:
- Small Business Administration, Office of Advocacy. “Frequently Asked Questions.” Accessed August 21, 2020.
- National Academy of Sciences. “The Impact of COVID-19 on Small Business Outcomes and Expectations.” Accessed August 21, 2020.
Was this page helpful?
Thank you for your feedback!
Tell us why! Other
Tell us why!
Other
Submit
Sources:
- Small Business Administration, Office of Advocacy. “Frequently Asked Questions.” Accessed August 21, 2020.
- National Academy of Sciences. “The Impact of COVID-19 on Small Business Outcomes and Expectations.” Accessed August 21, 2020.
Source: https://www.thebalancemoney.com/how-to-find-a-job-after-running-your-own-business-5075375
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