Startup Failure: Building your career afterwards

In our lives careers, identity, purpose, and experiences often intertwine, shaping our responses and the trajectory.

According to the website, Exploding Topics, 90% of startups fail in the long term. Only 18% of first-time startup founders succeed. An imperfect parallel would be that your medical tests showed you had an 82% chance of being hit by cancer.

For potential cancer victims, this could provoke lifestyle changes to improve the outcome. However, for your startup to succeed, it's not all that simple.

Here's how to navigate your way into a career incase the worst happens. You'll find that vulnerability, resilience, and a willingness to adapt are essential to your success.

Redefining Identity in Transition

Transitioning from leadership to job seeking requires redefining your personal identity and professional value perception.

This shift can be disorienting, as one must reconcile past achievements with present circumstances. The story of a former executive illustrates this struggle; he learned that embracing his multifaceted identity allowed him to present himself authentically to prospective employers.

So if you called yourself CEO, a title like "Ex-Operations Founder" on your résumé may seem less threatening to future employers. For you, it's another way of seeing yourself.

Embracing vulnerability in job search can foster authentic connections and open unexpected opportunities for collaboration.

Vulnerability can be a powerful tool. A study by Brené Brown highlights how sharing struggles can build trust and deepen relationships, ultimately leading to unexpected partnerships that can transform one’s career trajectory.

Remember that the growing part of a tree is it's tip, the most vulnerable part.

Your vulnerability is your source of growth. Through a good mental fitness practice, you can learn to be vulnerable, so that you can grow.

Networking is not just about contacts; it’s about cultivating genuine relationships that can provide support.

The importance of meaningful connections cannot be overstated. Research shows that individuals who focus on building authentic relationships often find more rewarding opportunities, as these connections lead to referrals and insider knowledge.

The secret to building meaningful and trustworthy relationships is deep connection at an emotional level. Steve Jobs had a few such relationships when he was thrown out of Apple.

He was able to get back on his feet quickly.

Navigating the Job Market

Continuous learning and adaptability are crucial for navigating career transitions in an ever-evolving job market.

Rapid changes in industries demand lifelong learning just to remain in demand as a professional. An example is the tech sector, where professionals must constantly upskill to remain relevant, as illustrated by the rise of certifications and online learning courses.

While you are in a job transition, it might be very useful to certify the knowledge you have gained while running your startup.

So if you learned to manage projects, a certification in project management would send a signal to potential employers.

Resilience in the face of rejection is essential; each setback can lead to new possibilities.

Resilience is a common trait among successful individuals. J.K. Rowling’s journey, filled with rejections before her first book was published, serves as a testament to the power of perseverance in achieving one’s goals.

Resilience is best built on a deep connection with oneself. This is built with a daily mental fitness practice.

We feel and process our emotions without trying to kill or bury them. This way, we are not beaten by negative experiences and the emotions they provoke.

Every day, we return to a state of inner peace and harmony.

Leveraging past experiences creatively can differentiate candidates in a competitive job landscape.

Unique experiences can be a candidate's greatest asset. Marc Andreesen's unique experience in starting Netscape, when the Internet was the new frontier, has helped immensely in his new role in mentoring and funding new startups.

Every startup is different. Since things are very much in flux, you'll have to try many new things. You might end up being really good at some of these things even though your startup ends up dead.

Building Connections and Skills

Seeking mentorship can provide valuable insights and guidance during challenging career transitions.

Mentorship can illuminate paths not previously considered. A Harvard Business Review article discusses how mentors can provide critical advice and networking opportunities, significantly enhancing career prospects.

Understanding industry trends can empower job seekers to align their skills with market demands effectively.

Staying informed about trends is essential. A report from McKinsey emphasizes that job seekers who align their skills with emerging industry needs are more likely to secure desirable positions.

At present, incorporating AI tools into one's work is the trending thing. Before this, trends were about analytics and data-driven decisions. There may be also trends specific to an industry or a role.

Job descriptions are an excellent way to know what's trending.

Emotional intelligence plays a significant role in building rapport and navigating professional relationships successfully.

Emotional intelligence can be a game changer. Daniel Goleman’s research shows that individuals with high emotional intelligence are better equipped to manage relationships and navigate workplace dynamics effectively.

The importance of Self-Leadership is often ignored. But it turns out that self-leadership is the best preamble to all other kinds of Leadership.

It comes through the patient work of building self-awareness, learning self-regulation and finally, finding one's purpose through self-determination.

Conclusion

In navigating career transitions, it is clear that resilience, vulnerability, and continuous learning are vital. As we reflect on these insights, consider how you can apply them in your own journey. Whether it’s seeking mentorship, embracing new learning opportunities, or fostering authentic relationships, each step taken can lead to a more fulfilling career.

Take the first step today—reach out to a mentor, enroll in a course, or simply share your story with someone who understands. Your next chapter awaits.

For faster growth for yourself or your enterprise, get in touch with a scrappy marketer, ex-marketing co-founder and mental fitness enthusiast: Renjit Ebroo.