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Written by: Michelle Caba, CEO Fama Agency
My name is Michelle Caba. Two years ago, I decided to leave my career of almost 20 years on Wall St. Like for so many, my identity was tied to my career. I’m a single mom with a mortgage and a lifestyle my son and I had grown accustomed to. So you can imagine this seemed outrageous to my friends and family. I share this with you because I know uncertainty all too well. I didn’t instantly know what I was going to do or how we were going to survive. Truthfully, it was giving myself the time to be still and center myself that lead to a series of opportunities. During that time, I found my passion. I want to emphasize that planning and strategy was equally important in transitioning towards being an entrepreneur.
Once I figured out my passion, and my transferable skills from my years on Wall Street, I successfully bought a business and flipped it. Then I found myself consulting other business owners from the pedicure chairs of my salon. So many were curious as to how I leveraged social media, digital marketing, and influencer collaborations that made my business a success from day one. As a result, I founded Fama Agency. I love talking business and everything about it. My agency is founded on the idea that through a holistic approach, beginning with strategic business consulting and development through executional digital marketing tactics, we help your business go from problem-focused to problem solved. (Of course, I had to plug my business!)
Before I get into the how's and to's, I think it’s really important to frame the uncertain times we are living in and how that leads to opportunity. This pandemic has changed our relationship with each other. We are more dependent on social media and conference platforms like Zoom, to fulfill the need to stay connected and find life’s simple pleasures to stay grounded. It’s times like these that we get creative, find new ways to make the best of this situation, and become industrious. If you’ve been inspired to change careers or found yourself unemployed, this new reality has the potential to propel you towards your Second Act.
I wouldn't be a business consultant if I didn't observe the trends. So where are the opportunities to create a business that’s profitable and needed? According to Pinterest, since this pandemic started, they have seen four emerging consumer behaviors. They are: (Of course I had to plug my businesses!)
1. Triage and information
2. Empathy and Relevance
3. Escapism and Optimism
4. Recovery and Rebound
These consumer behaviors uncover new business ideas. Here are a few examples:
· Freelance writing
· App development
· E-commerce like selling on Etsy or Amazon
· Online tutoring
· Selling courses on topics you are an expert in (fitness, cooking, etc.)
· personal/professional consulting.
Finding a new business to start or your second act is no easy feat. It takes time, strategy and planning. If you follow the steps I detail below, I can promise you'll get closer to your Why.
First, start by listing your skills and interests. Here are some sample questions to help establish that list. What do you love to do? Do you have a technology-related expertise that can help someone become more profitable? Are there any tools you can create to make it easier for people to do their job, accomplish their goals, or enjoy their hobbies? What opportunities can you create in your area of expertise to connect? Remind yourself that your experience, your story could be what someone else needs to learn and/or hear.
Secondly, enlist family and friends to encourage you. You may find encouragement, support, and honest feedback from people that know you well. Seek out individuals that have successfully found their second act and ask them questions about how they made the transition. Nurturing relationships is crucial and could lead to great opportunities.
Lastly, I want you to learn and build on new skills that can assist you in moving forward with your second act. Find books to read that will further your knowledge in the area of business you’d like to pursue. Search for online courses. Udemy.com and Teachable.com offer online courses for a modest price. Build on your public speaking, sales, marketing, and social media skills to name a few.
Mindset is everything when embarking in a new venture. Confidence is pivotal. You have to believe in yourself and what you are setting out to accomplish. Because people buy into you.
To conclude, I’ll leave you with this quote I came across on Foundr. It is a go-to resource for entrepreneurs. You can find them online and on Instagram.
“Believe in yourself and all that you are. Know that there is something inside you that is greater than any obstacle.”
Good luck! Remember, Fama Agency is here to help. Feel free to email us at info@famaagency.com with any questions.