Turning a layoff into opportunity

January 26, 2011
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unemployedIf you were to be faced with unexpected unemployment, would you treat the situation as an opportunity?

That’s the idea behind Succeed on Purpose, an incubator recently featured in the New York Times that takes what the founder calls “reluctant entrepreneurs” and turns them into business owners. How to do that? Well, the first thing is to help former employees discover what their true passions are, and how they can use their strengths. The goal is to help each business bring in an annual revenue of $1 million in the first three to five years; they provide a $20,000 cash investment, office space, training and more in exchange for an equity stake.

That’s an example of one business helping other businesses get off the ground — are there room for more? With the unemployment rate as it is, more and more people are giving up on finding a job and instead creating their own. If there was an organized system for helping people start their own businesses, would more get off the ground?

Here’s something to think about: Jerry Seinfeld, Michael Bloomberg, and Robert Redford were all once fired and found success later on.

Of course, a big problem with going from unemployed to entrepreneur is the lack of capital to do so — especially if you’re unemployed and not making the money you need for a startup. But if Succeed on Purpose turns out to be, well, a success, perhaps there will be more investors out there who come forward to give budding entrepreneurs another chance in a different career.

This post is brought to you by the good folks at Dale Carnegie Training of Central Indiana. We would love to connect with you on Facebook.

Image courtesy of The 4/30 Murders via Flickr
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