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What do I do after shutting my business?

By Nishchal Par on 38 Comments / 1701 views

https://www.chrisducker.com/wp-content/uploads/2010/10/business-fail.jpg
(My first reaction)

Unlike what I otherwise write, this is not a ‘how to’ post rather this is a ‘I need some real advice’ post. So if you are reading this, please share your thoughts, I’ll really appreciate it.

Here’s the scenario:

I wrapped up my three and a half year old business, last month. Gave back my office and let go of my staff, read my last rites. And walked off.

So, why did I do it?

Simply put, I lost the fire and I couldn’t fake a ‘vision’ for the company. I couldn’t lie to myself and push myself.

After the initial relief of doing what felt right, a fear crept into me. The fear of what next. I still feel it. For two weeks post the ‘pack up’, I sat paralyzed by the idea that I have to take up a job now. Atleast, till I found another business.

Shit, how does one do that!

So after a lot of thinking and overcoming inertia, I made my CV (I never imagined doing that again). Went back to my old outdated Naukri and Monster account, wiped the dust off them and uploaded my CV.

When I wrote my CV, I was thinking to myself – look at me! I’m this cool guy with 9 years of collective experience in sales, advertising and running my own design business, companies will snatch me like that. 

But all I hear are crickets.

To be honest I don’t even know what post to apply for. Suddenly I feel my experience is far too general from what is being offered out there.

So, if you are still reading this, please tell me what you think I should do? Or what would you do in my situation?

Thanks!
Nishchal
nishchal.par@gmail.com | 095 45 86 33 44 | Pune

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38 Comments

  1. nishchal, 

    hang in there. sometimes all of us need to step back and re-organise our thoughts. the little i know of you, i really think you need a co-founder. AND A MENTOR (on the vision part, etc.) 

    i’m connecting you to rudrajeet who is also based in pune. pls meet him – he is one helluva guy who can give you some great advice.

    https://www.therodinhoods.com/forum/topics/ask-rudrajeet-anything-about-starting-up

    ps: i will speak to you after i’m back from delhi. promise.

  2. Nishchal,

    I can relate to what you are probably going through. Try and take some time off and travel…maybe go to Goa and hangout with Asha for sometime…:)

    In the meantime try and think about what you really enjoyed doing…take a look at some startups in Pune which might be doing that…might be a better idea to work with them rather than looking for a job on Naukri.

    Give me a call if you need to chat sometime on +91 9999 334 995

    Cheers

  3. Nishcal… guys like you (us) are some of the most sought after hires… getting someone to lead a job, team, BU etc who has the entrepreneurial mindset and skill is priceless… most companies hire folks and then expect them to be entrepreneurs… 

    Big VCs call this as EIR – Entrepreneur in Residence… 

    Can we meet in Pune and discuss the possibilities for you over a coffee… I have a few things I am involved in and always am on the lookout to work with experienced entrepreneurs… Let me know – I am based in Kalyani Nagar 

  4. ASHA Great!!!

    I’m amazed how quickly you did that. You’ve given a hope(infact more than that) of revival for Nischal. You’re truly awesome.

    ~Sunil Suri

  5. Hi Nishchal,

    It takes guts to be so open about shutting down. Hope things work out.

    Just a couple of questions – are you looking for opportunities only in Pune? And how big a constraint is money, i.e., what kind of remuneration are you expecting when you are looking for a job? I am sure a lot of start-ups will find your experience invaluable but am not sure how much they will be able to pay!

    Good luck,

    Ravi

  6. sunil,

    nishchal, like all my rodinhooders, is close to my heart. he has many times volunteered his time and designed our logos for us. he is an awesome designer!

    check his post – https://www.therodinhoods.com/forum/topics/the-push

    his one ppt posted on trhs got him amazing traction. that can happen again 🙂

  7. Thanks Asha! As always you are awesome!

  8. Hi Rudrajeet,

    I would love to have a cup of coffee with you. Let me know when you are available.

    Thanks, Nishchal
    95 45 86 33 44
    nishchal.par@gmail.com

  9. I’d say take it easy and don’t be hard on yourself.

    Use time wisely. Take a break. Go with the flow for sometime.

    Do one thing for yourself every single day that makes you feel truly happy.

    Write stuff down. Whatever comes to mind. It could be catharsis.

    Your best investment in your future – visit a life coach and work with him / her to structure your thoughts and figure out a plan. A good coach will help you derive your own answers. I can recommend an outstanding one.

    Lastly – keep the faith. It all happens for the best. There is something better and bigger waiting for you as long as you realise that and learn and move on. The realisation and action is key – as the hardest battles are those we fight within ourselves.

    Good luck and god speed.

    Riitu

  10. I found myself in the same predicament in 2012, after running my business for five years. The fact that when I put the shutters down finally, my store ranked as one of the country’s top 100 concept store, did not deter me one bit from doing so. I was fidgety and the store seemed to have played its role, and it was time for it to beat a retreat. Except that I did this with only one goal in mind: to travel. 
    I love how life has panned out since.

    I know that my reply might not help you see the light in context to your job-seeking query, but I felt like stating the reason for why I went out and created that void in my life. To fill it with a light of a different kind. 

    It takes courage to do what you have done; to let go. 

  11. Thanks for the encouraging words Abhik. I’ll call if need some advice. Thanks!

  12. Thanks Ravi!

    Yes currently I’m looking at opportunities in Pune. Money at this moment is something I haven’t thought into, what do you recommend 🙂

    Thanks again!

  13. Thanks Ritu! Appreciate your advice.

  14. Couldn’t have been said better! Thanks Divya!

  15. First of all, dont take life so seriously, as someone said “no one comes out alive” ! so here is what you can/should do

    1. Don’t be in a hurry to join a job back, its like trying to date immediately after a breakup, you need sometime to normalize.
    2. Take a break (assuming you can afford), travel as much as you can, go to Goa, or abroad on an exploration trip, discover the world and see what all amazing things are happening in the world.
    3. Join some conferences in your area, meet the community, see who is doing what
    4. Be a mentor to some startups in your area of expertise
    5. Just speak to your old boss (before you started your job) and tell him, I need a job. 

    All the best !!

  16. Nishchal,

    I know exactly how you feel. I have experienced what you have. In 2010, at age 40 I walked away from an export business I built from scratch for 12+ years. My daughter was born the same year. I gave interviews and found suddenly I was unemployable. bad economy i was told. Without a business i felt a loss of self-worth. I know exactly how you feel. 

    And then something happened. I guess sometimes, in life you need to reach the ground hurtling towards certain death exactly like a bungee jumper, till suddenly the rope pulls you up. it happened to me! My brain that had gone into hibernation for so many years resulting in business losses, kicked back into gear. And I restarted an old business working on what I thought I could do best. And I am still here. surviving and standing. Hungry for more. 

    My friend, hang in there. Swami Chinmayananda used to say: “this too shall pass.” Nothing lasts forever. Stay focussed on your strengths and your talent will come through. I will call you .

  17. Went thru the same drill five years back.

    Believe me there are lot of folks out there who need your kind your experience. A headhunter or a Hr manager may not be able to fit you in a corporate job profile but talk to people running businesses (either of their own or a unit in a large company). They want folks like you. Just that you need to reach out to them and let them know that you are available. 

    PM me if you want to know how it worked out for me. Maybe that can give you a few ideas. 

  18. Being an underpaid entrepreneur myself, I am hardly the one to recommend about the kind of salary you should ask for! I guess it is a bit like hard disk storage – u can make do with whatever you have while at the same time, no GB is enough storage!

    Have you considered some freelancing options through some of the popular websites? Might be a good way to keep yourself busy while you work things out. 

    cheers

    Ravi

  19. Hey Nishchal, it needs guts to do this. Let’s talk. 

  20. We all are here with you Nishchal,  

    “Even this shall pass away” is my fav poem : 

  21. Nice suggestions Rishi 

  22. *LIKED*

  23. Hello Nishchal,

    First of all, pat your back to have the courage to exit the business without having a golden parachute to catch on. Not many people can do that. They just linger on and on, fearing the unknown.

    Second, in my opinion, you won’t achieve much by taking a break and thinking till you get a job because you in that mindset of getting a job. So get a job and then may be take a break or explore other options before joining. At the same time, stop worrying/fretting and start working.  A good start can be to ask following questions

     1. The reason why you had to shut down. What was lacking – Money, passion, Security, Energy?? It will help you pickup the right kind of profile in your next job.

     2. When you started your business, you might be trying to solve a problem for business. Are there players who are trying to solve that problem and have been successful (better than you) at that? If yes, these are your first target. Because in that organization, you will learn why they are able to do what you could not (solve the same / similar problem).

    Third step could be to find out a relatively newer organization which is doing something good in your field and has been funded decently. This will expose you to the process of scaling a business. Skill and money are not the only things that are required to scale any business. Understand that missing part in your skill set and work on that so that it helps you in your next startup if you decide to do that.

    Last but the most important one. ReDo you website. I just checked out your website and frankly speaking, I was not mighty impressed after looking at that. Your conceptualization is fantastic, the thought process is amazing which finally gives the logo. But it is not represented well. And wherever you apply to, they will check the website first (thats your 3.5 years reviewed in 1 min). As they say “jo dikhta hai wohi bikta hai..”

    I have recently exited my business and have taken up a job. And I can tell you, there are enough business leaders who are looking for people to replace them so that they can move on to bigger, better things. We can take that place, but we need to work hard for that.

    Regards

    Rituraj

    PS: Sorry for being a bit harsh, if you felt that way.

  24. Nischal, as a fellow rodinhooder and longtime escapee from the Dilbert Cube my advice is – burn that CV, shut down down your naukri account, empty your mind, and let the sunlight stream in.  

    We live in the age of content and design.  Design is critical to our lives.  Most people don’t recognize it but they can see/experience its effects. Good design makes you ‘happy’, great design is invisible, and conversely bad design is “evil”.

    When you say your vision dried up that’s probably because at a cognitive level you are struggling with the larger issues of design within the human spectrum…. and maybe you are actually butting your head against the central question (IMO) in design: how do you love all the children, of all species, for all time.  

    Listen to the crickets.  They’re singing the songs of the universe.  🙂

  25. Hi Nischal – This article in forbes about “general” experience you write about yourself, will encourage you.

    https://www.forbes.com/sites/michaelsimmons/2015/08/06/the-one-trait-that-elon-musk-benjamin-franklin-and-marie-curie-have-in-common/

    Good Luck!

    Ajay

  26. Thanks Rishi, I’ll keep these suggestions in mind !

  27. Thanks for the inspiration Prashant!

  28. Hi Vivek,

    Thanks for the advice, would love to hear from you. How do we get in touch?
    Here’s my email id: nishchal.par@gmail.com

  29. Thanks Omkar!

  30. Rituraj, this was by far the best advice. The real the advice the better 🙂

    Thanks! I’ll update the website if not completely redo it.

  31. You went really soft on me. I was expecting some ass kicking from you 🙂
    But thanks, I’ll listen to the songs of the universe. Quite trippy 🙂

  32. I was really tempted to with your ass stuck up in the air like that.  :)))

    All the best.  

  33. By the way, thanks for calling Kaanchan! Appreciate it 🙂

  34. Thanks for the article Ajay! Appreciate it!

  35. Dear Nishchal,

    Prior to my current assignment, I worked in IBM for 11 years and I hired a lot of people in IBM. The only thing we looked for is talent. Degrees, companies worked for earlier did not matter too much. I have seen one person who worked for me rise from being a call center agent to Head of Procurement of a large BPO.   You are certainly talented!

    I would recommend that you do as many face to face meetings as possible and doors will open for you.  Have a target to do 5 face to face meetings per day.  Ask for an informational interview where you can have a discussion on your skills and strengths and potential opportunities.  

    Also, there is something called luck and luck improves when we are calm and relaxed. So do something to calm down and relax.

    Take care and wishing you all the best.

    Warm regards,

    Bharat

  36. Hi Bharat,

    That was one of the sanest piece of advice shared! Thank you!
    I am currently talking to people and aligning myself to opportunities like you have recommended, I’m going slow right now.

    Thanks again!

    Regards, Nishchal

    PS: I would love to keep you posted on my developments, if there is anyway I could connect with you, let me know.

  37. Been in similar place. https://proteans.wordpress.com/2015/04/27/reinvention-after-a-startup/

    Ask people for problems that you can contribute to be solved.

    Reach to more people and more people. People would miss to respond to you in their day. You are sellling yourself and have a good resume, better Linkedin profile. Give them a way to remember you.

    10 years + experienced, be ready to have 3 to 6 months haul to get right job. Keep visting one enterpreneur a week and ask above questions. Connect two you have met with each other. Contribute to non-profits and teach, if you can

  38. Get a nice, decent, demanding, high quality job

    work till you get burnt out and then startup again

    in short – raise the perfect fire

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