How Should I Explain Closing My Own Business in a Job Interview?

Inside a tough economy, self-employed individuals and employees alike may transition in and out of their normal work environment to create a living. An employee who loses his job may find it time for you to follow his passion and make money with it, while a sole proprietor may lose her clients and have to seek full-time employment. The discussion of losing your business might have its challenges during an interview, but with the correct response, you can turn it around to your benefit.

1. Discovered Imperfect Fit

While running a small business can give the proprietor valuable experience that an employee may not receive at work, it also can bring more stress. Added pressures for example improving profits or lack of job security can consider their toll. Explain to the hiring manager that you closed your business because you discovered the it was a bad fit for you. Mention that career growth and security inside an organization are more appealing. This is not an untruth, even though you had to close your business because you lost clients. Self-employment can be a lonely existence; mention that you miss being a part of a real team.

2. Personal Growth Achieved

Your resume should reflect your company management history. Be honest with the interviewer about your time and efforts to start and run your business. Rather than say the company failed, be upbeat and positive in discussing your endeavor. Convey the initiative and passion you had to set out by yourself; mention the challenges you tackled along the way. Stress the positives concerning the experience, such as personal growth and confidence. Explain how taking risks made you find out about your character.

3. New Skills Developed

Every small business proprietor has to wear many hats. When you are the head of your company and responsible for your own bottom line, you can learn skills that will assist you bring a fresh approach to a new career or even job. Express to the interviewer that your business venture made you feel a multitasking expert who worked flexible hours and adapted quickly to ever-changing scenarios throughout the work day. Bring up how you honed your period management and organizational skills. Emphasize the client-facing skills a person improved while managing your client roster. Good customer service is really a desired trait in any industry.

4. Considerations

Lying about anything on your resume or during an interview will be worse than explaining why you closed your company. Always account for your self-employment history on your resume or personally. Reach out to your ex-clients and ask them if they provides you with a referral that emphasizes your skills, service and high quality of work or product. Use the title of "business owner" in your resume instead of "self-employed. " To some interviewers, the actual former has more credibility.