Plan Your Finances

A career change in the middle of a pandemic? It is a bold move to make by any stretch of the imagination. And you’ve probably heard it all by now–the job market’s slowing down, lack of financial security, no benefits, etc. While your friends and family are only concerned for your well-being, however, this may be just the right time for you to make a bold move towards the job you have always dreamed about. After all, the pandemic has triggered a paradigm shift in how Indians think about work.

Since the pandemic, the gig economy has grown leaps and bounds, and careers once labelled unconventional are finally getting the recognition they deserve. Gone is the 9 to 5 routine, with businesses now witnessing firsthand the remote work model’s productivity, morale, and cost advantages. Case in point: Indian Influencers across niches have flourished since the lockdown, with everyone from broking apps to consumer goods brands betting big on them.

If you have already found your calling, you’re ready for Step 2. This is where you put together a solid plan for developing the skills and resources for turning your passion into your profession. It will help you prioritise and stay focused.

In this article, we bring you a step-by-step career transition strategy that will give wings to your dreams.

Plan Your Finances:

The lack of a steady paycheque is perhaps the biggest challenge you’ll face as you pursue your passion. If you plan to quit your job, it is critical to have sufficient savings to see you through the next 6 to 12 months. It is also helpful to stick to a budget and keep discretionary expenses to a minimum.

That’s not all. Whether you are a budding chef, visual artist, or fitness trainer, you need equipment. Think cooking paraphernalia, tablets and drawing software, workout gear, etc. Buying second-hand may be cheaper upfront, but you can never guarantee reliable performance. You are probably better off investing in the latest equipment with a personal loan. After all, you’ll need capital to fund your business sooner or later. IDFC FIRST Bank Personal Loans begin with a competitive interest rate of 10.49%, giving you the much-needed breathing space to make strategic decisions regarding the future of your business.

Set Up a Social Media Presence:

A great portfolio alone isn’t enough to impress prospective clients. To succeed, you need to create an engaging narrative around your work. You can ‘show’ customers with video content rather than ‘tell’ customers what you do. It is a much better alternative to sending cold pitches. For example, a YouTube channel or an Instagram handle with quality content can help you build instant credibility with customers while supplementing your networking efforts. Think of it as a live, interactive version or an extension to your elevator speech. The result: you’ll be able to build an audience and find collaborators to partner with rapidly.

Of course, you’d have to use a quality camera and premium software for shooting and editing videos. It can help you to churn out crisp, sharp content. At the very least, you’ll need a phone with a high-res camera and built-in editing apps. Don’t forget to invest in a proper lighting kit, either. Remember, brand building is all about creating the right impression.

Invest in a Professional Website:

Engaging with your audience on social media platforms will certainly help spread the word about what you do. However, you also need a branded website to showcase your best work, including testimonials and any awards you may have won. This could be the tipping point for potential clients considering signing up with you. Be sure to include a brief bio about yourself or your company, contact details, and pricing information so that you can close new contracts faster. Offering online payment options to customers will undoubtedly be a bonus.

Skill Enhancement:

The real work begins once you build up a social media following. As you grow, you will need to set up analytics to monitor your performance and learn about the likes and dislikes of your viewers. Customer feedback can also help you iterate your product or service for changing customer needs. The idea is to differentiate yourself from the competition by creating valuable content.

All of this requires continuous learning. Thankfully, there is a vast array of online learning platforms that creative people like you can use to learn everything you need about growing your business—from market research and product development to pitching investors and building a team. Besides, you can also get real-time feedback and inspiration from a global community of creators and entrepreneurs at the click of a button. Who says creative folks are a lonely lot? 

Refurbish Your Workspace:

When you’re in business, you cannot afford to wait for inspiration to strike before working on a new design or presentation. If anything, you need to develop ideas and concepts on demand. Now that may be a tough ask for many people. However, research shows that the environment around you can significantly impact your productivity and creativity. Organising your workstation and adding an ergonomic chair can certainly help. However, if you are working from home, you need a physical boundary that separates your living room from your workspace. If that isn’t practical, invest in a pair of noise-cancelling headphones, sufficient lighting, and even a portable coffee maker to help you perform at your best.

Embracing change can be difficult in the best of times. It is always essential to have a Plan B to get through the uncertainty that comes with a career change. Having a strong support network of friends and family can also be of great help. When it comes to your financial needs, IDFC FIRST Bank offers a range of competitive solutions to give you greater flexibility. With a personal loan from IDFC FIRST Bank, you get financing worth up to Rs 40 lakh, repayment tenures of up to 60 months, and affordable interest rates in addition to a top-up facility. 

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.