It’s Time to Fly!

A crash course in learning to use your wings

 when you get pushed out of the ‘corporate nest’

By Rosemary E. Rys, APR

o here you are, later in life, having endured all the trials and tribulations of working for others for years. You’ve decided you've learned enough. You’ve paid your "dues.”  You deserve to have your own consulting business at last. But wait, that involves leaving a safe haven—the company you've been with for years. Hey, it's practically your family! Then darned if the family doesn’t push you out of the corporate nest, and you no longer have a choice. It’s time to learn how to fly.

     When my company downsized me in January of 2001, it was exciting at first—a jump-start into action, I thought—since I’d been contemplating starting my own public relations consulting business for years. Now, at last, mini-MBA behind me, I would actually be able to practice what I've been preaching and teaching to others as a practitioner and a Drexel University professor. And I had plenty of “coaches” I could turn to for advice–other successful friends who'd “taken the plunge” (as Lipton's Iced Tea would have you believe is the only way to refresh yourself), and gone out on their own to prevent burnout.   I had some money to work with, plus six months of unemployment as a cushion.

     Yet lately, those same friends who earlier encouraged me to take the plunge with them, saying the water’s fine, are heard bespeaking words of caution: "My clients are leaving, saying they can't afford marketing or PR right now." Or, "My biggest client has bailed due to internal financial problems." And so the question becomes, now what?

      Don’t Be Afraid to Try Something New. What really happened is that colleagues who knew about my work came forward with opportunities to write-—for a magazine, for an architectural firm, for a nonprofit and as a freelance consultant. But learning to change stride and try something new, like journalism, can be scary and time-consuming, I’m using “muscles” I’d forgotten I had. My last 19 years of writing public relations materials were well spent, but they didn’t prepare me for the rigors of writing for a general consumer audience.  I found I needed to summon up all that I learned years ago in those seven-plus writing courses I’d taken about headlines, feature stories, leads, intros—the works. Now, with 15 short interviews under my belt, it’s getting easier. But the first few months were HELL! Unemployment runs out soon, and as an editor friend of mine succinctly noted the other day, "Who ever said writers make money?"

     Self-Promotion Is Your Best Asset.  The trick to flying solo, I’ve decided, is to find a way to do something you enjoy AND make money doing it. The experience of going it on your own will test every skill you have—and some you didn't even know resided within you.  You must concentrate your efforts on what you do best and consider self-promotion your most important skill.

      My dream to start my own PR and marketing consulting firm still lives. I’ve just discovered that it isn’t going to be as easy as I had thought it would be. Where are all those architectural and engineering clients who said they needed public relations back when? Some are ready to commit to a monthly consulting gig; others aren't sure what they need. But I’ll keep plugging away at growing my business.

     “The Check Is in the Mail”—and Other Stories.  In the meantime, I have bills to pay. Creditors don’t just hang around waiting for you to hit the big time.  Yes, a rich uncle did die two years ago, and I'm in his will, but it’s taken forever for it to be probated.  I’m getting used to hearing the words  “the check is in the mail” (as noted by one client who "accidentally" paid me half what they owed and are sending the rest soon). But my creditors aren’t as kind.

     To make matters worse, I'm probably the world's worst credit-card "abuser."  I seem to forget that you have to actually PAY for the items at some point in time. As a co-dependent child and adult, I never questioned what my father made or where the money came from, nor was I trained in money management. It's pure luck that I have a 401K, now a self-directed IRA, and a financial consultant who cares that I'd like to retire in style some day. With his help, I believe I can.

     In the meantime, my efforts are paying off—some work is finally coming in and the future looks promising, albeit a little scary. I tell myself: If you don't believe in yourself, who will? And my wings grow stronger every day. Maybe I can soar with the other eagles, up there where the air is rare, one of these days.

When the Paychecks Stop Coming:

Tips for Managing Your Money & Your Life

1.  Get yourself a good financial planner and take his or her advice religiously.  Mine advised me to move my 401K into a self-directed IRA that I can control.  Also think about moving some cash into a money market account. You can borrow against it for 60 days without taking a tax "bite"—and even without paying a penalty, depending on your age.

2. If you get severance and or other monies, think about putting at least a portion of it into a special high-interest savings account that is readily accessible. I opened an ING Direct  "Orange Account," where you can earn 4- 3/4 percent interest, your money is FDIC- insured up to $100,000, and you can get it out within a day or two turnaround if you need it.

3. Get your home office in order—upgrade your computer, make sure you have the necessary resources, and think hard about what you'll need to succeed. NOW is the time to buy that laptop you've been wanting if you're going to start your own business—it's a business expense, as is a fax, second phone line, DSL, or anything else along those lines.

4. Keep receipts and write off ALL business expenses against your taxes, such as your printer and computer supplies, resume paper, start-up costs, travel, etc.

5. Consider taking some small business/entrepreneur courses at a local college or university to help launch a new career. Most are free or very inexpensive.

6. Network with friends—pass the word that you're ready for work, assignments, consulting gigs, whatever. It may take six months or so (as it did for me), but suddenly, opportunities are coming in almost daily.

7. If you search, you can find a $12 haircut that works even better than the $60 one you’re used to.  (And the hairdresser will probably have less attitude!) And gals, you can go three weeks without a refill on your nails—just do your own polish the last week if necessary.

8.  Always be on the lookout for ways to trim costs. Rite-Aid takes back cosmetics you hate without question and gives refunds. (And who among us hasn’t bought a new shade of lipstick on impulse and regretted it when they got home?) Shopping for a knockout interview suit? Designer consignment shops have wonderful finds. Save parking costs–take the train or walk whenever you can. Or how about riding your bike–extra health benefits there.

9. Consider teaching. It pays well and often your practical knowledge will suffice if you don't have, say, a master's degree in a subject area but do have years of professional experience. You can often teach at college level.

10. A word to the still-employed: Credit protection taken out on a major credit card or large-ticket item expense such as a car loan is expensive to maintain but it could save the day if you lose your job (this is an emergency measure only!)

       Some caveats in closing: it's a given—your home computer and vacuum cleaner, trusted tools until now, will definitely crash, and in that order. Your car will need new tires, an expensive part, or your prayers if it's on its last legs.

       Just keep telling yourself, when that happens: with a little persistence and the courage to reinvent yourself, you, too, can earn your wings and fly high!

_______________________________________

An accredited member of the Public Relations Society of America, Rosemary Rys, APR, sits on MAKING BREAD’s Editorial Advisory Board. She is forming a new firm as president of Creative Public Relations (CPR for Your Communication Needs).

E-mail this article.