What Do You Want to Do with the Rest of Your Life?

One of the results of our current recession and the high unemployment that has accompanied it is the increase in entrepreneurship. As more people lose their jobs and face a shrinking job market, increasing numbers of workers are evaluating their skills and going into business for themselves. Running your own business can be exciting and rewarding, but it is critical to evaluate exactly what skills and assets you have to offer and to figure out what type of business will be a good fit for you. If you’re an older worker who has lost a job, the business you start may be what you’ll be doing for the rest of your working life. This is also a good time to evaluate what else you want to accomplish or focus on beyond work. Here are some ideas on how to get started with this process.

The first thing you should do is put your thinking cap on and make a series of lists to help you concentrate:

• Make a list of at least 25 valuable professional relationships along with ideas for what that relationship could do for you.
• Make a “bucket list” of things you want to do in your life.
• Create goals for the number of years you plan to work and what income you need over that time period.
• Catalog any other LIFE goals that will govern how you will address this period of opportunity.
• Build a list of your assets. This would include your level of education, professional designations that you have earned, and a list of proven job credentials.
• Make a list of your areas of interest in terms of businesses. Do you want to stay in the same business area where you have been working or is now the time to start that business you’ve always dreamed of in a completely different field?

Once you have your lists made, you can begin the process of determining the type of work that will:

• Be interesting and rewarding
• Successfully use your skills and assets
• Allow you to merge your personal goals and dreams with your work life
• Provide the income you need

Be sure to use your list of valuable professional relationships to help you narrow down what you want to do and how you can accomplish your goals. Chances are, in this economy, some of the people in your network have gone through the same process and will be wonderful resources. Now, go get started on the rest of your life!

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Karen D. Corsaro is President of The Corsaro Group, an Indianapolis based strategy development firm focused on converting ideas into assets. Recent projects have included strategy development for Pedcor, MediaSauce, Local Initiatives Support Corporation, The Nature Conservancy, American Health Network, Indianapolis Downtown Incorporated, Indianapolis Cultural Districts, The Indiana State Museum, Eli Lilly, L’Oreal, General Mills, Crystal Food Services, The Café Group, Coffee Etc., and Dine Magazine. Prior to her own firm, Karen served as President of Simon Brand Ventures, the strategic marketing division of Simon Property Group, Inc., the largest publicly traded retail Real Estate Investment Trust (REIT) in North America, where she grew profits to over $50 million in a three-year period. Ms. Corsaro is also credited with developing “Simon” as the first national shopping center brand and introducing corporate sponsorship to the industry through a first of its kind program at Mall of America. Karen has been recognized by the Indianapolis Business Journal as a “Woman to Watch” and one of the ’40 Under Forty; she was named PROMO Magazine’s 1998 Retail Marketer of the Year. Her coaching profile can be found at TheCoachingAssociation.com.