Picture: REUTERS
Picture: REUTERS

Being retrenched is devastating, and unfortunately the Covid-19 pandemic has forced many companies to cut jobs as a way to survive. But being made redundant could be the prod you need to become your own boss.

“You might have something to offer the marketplace and taking ownership of your own future is empowering and rewarding in a way a salaried job usually isn’t,” says Lyndy van den Barselaar, the MD of ManpowerGroup SA.

She has the following advice on how to turn yourself into a successful entrepreneur:

  • Work out want you want to do that can generate income and will be meaningful for you. It may be expanding a side gig you have had or even turning a hobby into something that pays the bills. “Consider all your options, weighing up the pros and cons, until you decide on something that makes sense for you.”

  • Is there a market for what you have chosen? Spend some time on this so you can get to know your customers.

  • If you need funding or investment, you will need a business plan that includes income projections, the findings from your market research and a clear outline of how you will turn your idea into an actual business.

  • Take time to learn about how to market and run your business. There are online courses you can take to get started and then commit yourself to staying up to date with the developments in your industry through regular courses and seminars.

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