Second Act Success: Business Tips & Career Change Advice for Women Use Your Severance Package to Start a Business and Invest in Yourself | #211
Sep 8, 2025
Laid off? Learn how to reframe severance as startup capital and time to pivot. Short guidance on budgeting severance for essentials and business investments. Ideas for creating a flexible side business and using coaching to speed progress. Steps to validate ideas, build imperfectly, and use severance as seed money to reclaim control.
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Severance As Startup Capital
- A layoff can be reframed as an opportunity rather than rejection.
- Shannon Russell calls severance a rare combo of time, money, and motivation that can serve as startup capital for a second act.
Cover Essentials Before Investing
- Cover essential expenses first by budgeting mortgage, utilities, and health insurance.
- Shannon Russell recommends creating a budget so you know how long severance will realistically last to avoid fear-based choices.
Create A Business Investment Fund
- Set aside a dedicated business investment fund from your severance after essentials are covered.
- Use it for coaching, LLC formation, insurance, branding, or website work and spend intentionally rather than impulsively.