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5 Benefits of Starting a Small Side Business

5 Benefits of Starting a Small Side Business

Entrepreneurship: a word I simultaneously adore and despise. As someone with aspirations to one day start a successful company, the idea of growing a fledgling business into a powerful corporation is exciting. Others would shun my dream scenario in favor of a stable job that puts food on the table. Neither path beats out the other. It all depends on what someone wants in life.

So, why are so many online entrepreneurs yelling from the rooftops about how it’s stupid to stay in a job and that everyone should quit the 9-to-5 and dive into a business full time? That’s not only an overgeneralization, it’s a limiting mindset. Entrepreneurship is not just for the likes of Elon Musk, Mark Zuckerberg, or Reid Hoffman. You can easily flex your entrepreneurial muscle while working full time with a small side business. In fact, I recommend that you try it at least once. Not only will it be a rewarding experience, but there are many benefits that will help you in your career, or even open up a new one.

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1. Tax Advantages

You can write off many purchases as business expenses, including home office space, office supplies, furniture — even business miles driven. If you detest handing your hard-earned cash over to Uncle Sam (I’ve yet to meet anyone who doesn’t!), you should be running to get your LLC.

2. Side Revenue Stream

The average “non-employer” (one-person) business has revenues of more than $40,000 a year. Even if only $10,000 was profit, that would mean more than $300 a month in your pocket. And remember, $10,000 is the average, not the limit. Nothing is stopping your business from bringing home far more. What would you do with an extra $300, $600, even $1000 a month (that’s Chipotle every day for me!)?

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3. More Control

The average millionaire has seven revenue streams. If one disappears, that millionaire has six others to bank on. A side business gives you an additional source of income that not only puts more money in your pocket, it gives you more control over your life. The second revenue stream means that your job no longer owns you. You can decide to quit your job and scale your company. You won’t be (too) upset when your boss doesn’t give you that raise. You won’t complain when your lazy coworker gets the promotion over you. Why? Because your job isn’t your everything. At home, you’re nurturing a business that’s earning you hundreds, even thousands, a month.

4. Experience to Add to your Resume

If your side business is successful, you can add the experience of running it to your resume. That can easily distinguish you from other candidates who just have MBAs or standard managerial experience. Personally, I’d rather hire a high school dropout with real business experience and success over a Harvard MBA with nothing.

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5. Increased Happiness

When it comes to happiness, 77% of business owners are happier than the average worker, while 52% of American workers are unhappy with their jobs. You may be of the 48% in love with their work, so enjoy the benefits of being an employee and a business owner. If you hate your job, the side biz is an opportunity to escape the daily grind and maybe even replace it. Take the chance — you have nothing to lose.

You don’t need to launch some super-sophisticated tech startup to become an entrepreneur. Running a company alongside your full-time job is not only viable, but advantageous. I’ve already listed out the benefits. Now, you need to take the next steps. So launch the blog, open that eCommerce store, make a freelance business with your skills — just start your own side business and enjoy the control and freedom it brings.

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Last Updated on April 25, 2019

How to Write a Career Change Resume (With Examples)

How to Write a Career Change Resume (With Examples)

Shifting careers, tiny or big, can be paralyzing. Whether your desire for a career change is self-driven or involuntary, you can manage the panic and fear by understanding ‘why’ you are making the change.

Your ability to clearly and confidently articulate your transferable skills makes it easier for employers to understand how you are best suited for the job or industry.

A well written career change resume that shows you have read the job description and markets your transferable skills can increase your success for a career change.

3 Steps to Prepare Your Mind Before Working on the Resume

Step 1: Know Your ‘Why’

Career changes can be an unnerving experience. However, you can lessen the stress by making informed decisions through research.

One of the best ways to do this is by conducting informational interviews.[1] Invest time to gather information from diverse sources. Speaking to people in the career or industry that you’re pursuing will help you get clarity and check your assumptions.

Here are some questions to help you get clear on your career change:

  • What’s your ideal work environment?
  • What’s most important to you right now?
  • What type of people do you like to work with?
  • What are the work skills that you enjoy doing the most?
  • What do you like to do so much that you lose track of time?
  • Whose career inspires you? What is it about his/her career that you admire?
  • What do you dislike about your current role and work environment?

Step 2: Get Clear on What Your Transferable Skills Are[2]

The data gathered from your research and informational interviews will give you a clear picture of the career change that you want. There will likely be a gap between your current experience and the experience required for your desired job. This is your chance to tell your personal story and make it easy for recruiters to understand the logic behind your career change.

Make a list and describe your existing skills and experience. Ask yourself:

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What experience do you have that is relevant to the new job or industry?

Include any experience e.g., work, community, volunteer, or helping a neighbour. The key here is ANY relevant experience. Don’t be afraid to list any tasks that may seem minor to you right now. Remember this is about showcasing the fact that you have experience in the new area of work.

What will the hiring manager care about and how can you demonstrate this?

Based on your research you’ll have an idea of what you’ll be doing in the new job or industry. Be specific and show how your existing experience and skills make you the best candidate for the job. Hiring managers will likely scan your resume in less than 7 seconds. Make it easy for them to see the connection between your skills and the skills that are needed.

Clearly identifying your transferable skills and explaining the rationale for your career change shows the employer that you are making a serious and informed decision about your transition.

Step 3: Read the Job Posting

Each job application will be different even if they are for similar roles. Companies use different language to describe how they conduct business. For example, some companies use words like ‘systems’ while other companies use ‘processes’.

When you review the job description, pay attention to the sections that describe WHAT you’ll be doing and the qualifications/skills. Take note of the type of language and words that the employer uses. You’ll want to use similar language in your resume to show that your experience meets their needs.

5 Key Sections on Your Career Change Resume (Example)

The content of the examples presented below are tailored for a high school educator who wants to change careers to become a client engagement manager, however, you can easily use the same structure for your career change resume.

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Don’t forget to write a well crafted cover letter for your career change to match your updated resume. Your career change cover letter will provide the context and personal story that you’re not able to show in a resume.

1. Contact Information and Header

Create your own letterhead that includes your contact information. Remember to hyperlink your email and LinkedIn profile. Again, make it easy for the recruiter to contact you and learn more about you.

Example:

Jill Young

Toronto, ON | [email protected] | 416.222.2222 | LinkedIn Profile

2. Qualification Highlights or Summary

This is the first section that recruiters will see to determine if you meet the qualifications for the job. Use the language from the job posting combined with your transferable skills to show that you are qualified for the role.

Keep this section concise and use 3 to 4 bullets. Be specific and focus on the qualifications needed for the specific job that you’re applying to. This section should be tailored for each job application. What makes you qualified for the role?

Example:

Qualifications Summary

  • Experienced managing multiple stakeholder interests by building a strong network of relationships to support a variety of programs
  • Experienced at resolving problems in a timely and diplomatic manner
  • Ability to work with diverse groups and ensure collaboration while meeting tight timelines

3. Work Experience

Only present experiences that are relevant to the job posting. Focus on your specific transferable skills and how they apply to the new role.

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How this section is structured will depend on your experience and the type of career change you are making.

For example, if you are changing industries you may want to list your roles before the company name. However, if you want to highlight some of the big companies you’ve worked with then you may want to list the company name first. Just make sure that you are consistent throughout your resume.

Be clear and concise. Use 1 to 4 bullets to highlight your relevant work experiences for each job you list on your resume. Ensure that the information demonstrates your qualifications for the new job. Remember to align all the dates on your resume to the right margin.

Example:

Work Experience

Theater Production Manager 2018 – present

YourLocalTheater

  • Collaborated with diverse groups of people to ensure a successful production while meeting tight timelines

4. Education

List your formal education in this section. For example, the name of the degrees you received and the school who issued it. To eliminate biases, I would recommend removing the year you graduated.

Example:

Education

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  • Bachelor of Education, University of Western Ontario
  • Bachelor of Theater Studies with Honors, University of British Columbia

5. Other Activities or Interests

When you took an inventory of your transferable skills, what experiences were relevant to your new career path (that may not fit in the other resume sections?).

Example:

Other Activities

  • Mentor, Pathways to Education
  • Volunteer lead for coordinating all community festival vendors

Bonus Tips

Remember these core resume tips to help you effectively showcase your transferable skills:

  • CAR (Context Action Result) method. Remember that each bullet on your resume needs to state the situation, the action you took and the result of your experience.
  • Font. Use modern Sans Serif fonts like Tahoma, Verdana, or Arial.
  • White space. Ensure that there is enough white space on your resume by adjusting your margins to a minimum of 1.5 cm. Your resume should be no more than two pages long.
  • Tailor your resume for each job posting. Pay attention to the language and key words used on the job posting and adjust your resume accordingly. Make the application process easy on yourself by creating your own resume template. Highlight sections that you need to tailor for each job application.
  • Get someone else to review your resume. Ideally you’d want to have someone with industry or hiring experience to provide you with insights to hone your resume. However, you also want to have someone proofread your resume for grammar and spelling errors.

The Bottom Line

It’s essential that you know why you want to change careers. Setting this foundation not only helps you with your resume, but can also help you to change your cover letter, adjust your LinkedIn profile, network during your job search, and during interviews.

Ensure that all the content on your resume is relevant for the specific job you’re applying to.

Remember to focus on the job posting and your transferable skills. You have a wealth of experience to draw from – don’t discount any of it! It’s time to showcase and brand yourself in the direction you’re moving towards!

More Resources to Help You Change Career Swiftly

Featured photo credit: Parker Byrd via unsplash.com

Reference

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