Business success story: Infopreneur
One day after she received the highest possible raise and performance review, Melanie Jordan’s employer laid her off. Rather than hunt for another job, Melanie created her own job. She became a successful infopreneur, author, and coach. I interviewed Melanie about her story.
What type of career did you have before you launched your business?
I was a marketing professional for over 20 years (including being a former vicd president of marketing for one of the country’s largest banks). I also did a fair amount of sales training.
Describe the circumstances of your job loss, how long you looked for a job, and how your job search went.
I lost my job for the second time in my professional career when a private financial education company I worked for had over expanded and had to reduce its sales force. As the second trainer hired, I was the first to go — exactly one day after I got the highest possible review and raise!
I looked for a job for well over a year, but knowing that it was unlikely, given the economy and workplace changes, that I would get anything commensurate with my talents or pay level, I focused just as hard on working on taking my sideline business full-time. I wasn’t counting on others to give me a job—I created my job!
While I hadn’t planned to go full time with my business at that precise time, getting laid off again was to me a sign that maybe it was the right time.
How did you survive financially while you started your business?
I had savings — I was never one to live from paycheck to paycheck. Plus, I viewed my unemployment as a “federal grant” that would help tide me over until I could get my business going strong enough in the event I couldn’t find an appropriate job.
How does your current income compare to your previous income?
I’m not at the level of my prior income … yet — that should occur next year. But I’m completely self-sufficient, and making enough that I don’t have to worry about how I’m going to pay my bills, and can instead focus on my business.
What skills and previous experience were you able to bring to your business that are helping you to succeed?
My extensive marketing, sales and training experience were a natural fit and gave me skills that I could instantly offer to others. And then all my experience online since 2001 as a writer and publisher, and in doing online marketing, which eventually evolved into original content infopreneuring, gave me the experience I needed to take my work to the next level. I divide my time between client work and furthering my original-content information products and services.
What is the best part about running your business?
The freedom to have a completely flexible lifestyle as a home-based entrepreneur. If I want to work from anywhere in the county, or the world for that matter, as long as I have my laptop, a good internet connection and a phone (and I don’t always need the phone), I’m good. I love to go to the gym when it’s least crowded, and to get time off from the boss (a.k.a. me) at a moment’s notice. I never have to ask to take a vacation.
What is the most challenging part about running your company?
I’m my own toughest boss — very self-motivated and I love what I do — so sometimes it’s hard for me to stop working and disconnect for a while.
What new skills did you need to learn to be a successful entrepreneur?
Managing my cash flow, social media / new media and to stop looking at the job classifieds when the going got tough and just persevere.
What career advice do you have for job searchers who are considering an entrepreneurial path?
Make sure that you are honest about your financial situation first. Don’t just pull a "Jet Blue" and be the flight attendant who pulls the emergency chute without first deciding if you can afford to quit your day job. The least stressful way to take an entrepreneurial path is to make your business a sideline first and then go full-time when it makes sense, or at least have it as a "Plan B" so that if you lose your job, you’re already well on the way to being able to stand on your own two feet in case you can’t get another job, or you simply don’t want to.
That’s one reason I believe original-content infopreneuring (what I do and discuss in my latest book—see author bio below) makes a great moonlighting venture since it’s virtual, can be done from a home office or really anywhere, has flexible hours and low start-up costs.
Anything else you would like to share?
Most people think being an entrepreneur is risky, but I think being an employee is far riskier because you are never in control of your own destiny — today’s workplace bears this out. If you can approach your entrepreneurial path the right way and stay the course, it’s so worth it!
Thank you, Melanie!
Melanie Jordan is the founder of SunLover Publishing LLC, a publishing, media properties and marketing coaching / consulting company. She is also a six-time author. Her book about infopreneurship is What You Know Is Worth More Than You Know.
Update in 2024: Melanie Jordan added a new line of business. She is now a weight loss and health transformation coach.
