The prospect of losing gainful employment is a difficult one to stomach, particularly where your responsibilities include a family. Things being as they are, finding a new job might take some time but, hard though it may be to see, there can be an upside to being made to have some time off work.
Being made redundant can, believe it or not, be turned into an opportunity. Redundancy payments tend to be such that employees have a few months’ pay in hand and little more to do with their time than to focus on finding another job. How about turning all that extra time into a little bit of extra cash? Much as most people will find it hard to spin news of redundancy into a positive thing, a period of a few months may be just the opportunity a budding entrepreneur may have been looking for to dedicate to setting up a new business.
What are you into? What are you passionate about? Is there something about a service provided locally which you know you could do better? Is there a gap in the market for a service or product you’ve come across elsewhere which can’t be found in Gibraltar and which, had you not been employed full time, you could have imported? Business opportunities come along in the oddest of circumstances and they’re often staring you in the face for some time before they actually become obvious. It often takes a particular event, even a random chat with a man on the street, for that bulb in your head to come alive. And when it does, I assure you, you won’t sleep for days!
I keep harping on about it and I’ve certainly written about it in the past, but finding your business a home on the internet or even running an internet-only business makes absolute sense when you’re looking to keep your costs and your investment to an absolute minimum. Go online and spend some of those hours wasted on chat and gaming investigating online businesses. Visit the online shops, forums and affiliate websites relevant to the things you love the most and you might be surprised to come across an opportunity or two just waiting to be seized. Think about who you are and what you can offer. Most of us are sufficiently bilingual that we might be able to offer some kind of intermediary service for the large and growing community of Brits in Spain. Don’t limit yourself to what you can do here, let your imagination fly you right over the border and wherever it may take you.
If you’re going to start a business, there’ll be many issues you need to think about but first, have a clear image of what it is the business is setting out to achieve. Try and draw up a simple business plan as it’ll prove indispensable to keep you on track and be particularly useful if you need to approach a bank for a business loan. Don’t be afraid to think big but keep your feet planted firmly on the ground. If you need some finance, you’ll need to consider bringing a friend or family member on board to share the cost. Alternatively, you might be able to attract investment from a third party, independent investor. Either or both of these options can be a minefield to be carefully navigated. A decision to share or sell part of your idea cannot be taken lightly and you’ll need to think about taking steps to protect yourself as much as possible. Whatever you do, it could be the most exciting, if unexpected, project you’ve ever taken on.
Still finding it hard to be upbeat? Lance Armstrong, the cancer survivor and seven-time winner of cycling’s Tour de France, journeyed through hell and back and endured an ordeal too many people in Gibraltar are all too familiar with. Reading about what drove him through the tough times there’s a regular mention of his mother’s influence and her favourite expression, one which pulled Armstrong through the toughest of physical challenges and which can no doubt help anyone in a difficult situation to rise to the challenge and face it head on. “Make every negative into a positive,” seize control, bleak though the prospect may seem, and turn the unavoidable difficulties of a crisis which was out of your hands around, and make it work for you. No use just sitting worrying, is there?