CV Help: Putting My Closed Down Business on CV...
Discussion
Hi.
The year before last I had been unemployed for 2 years. I'd had enough and when the opportunity came to open my own business I took it...
I borrowed money for stock and shop fittings and opened a Pet Shop in an In Shop...
I Built it from scratch. but around 9 months later, I wasn't doing very well. lots of bad press came to the in shops due to the owner being part of a business scam. (Basically taking rent off stall holders and not paying any bills etc. for the building).
So I had to the shut the shop.
Now how can I word what's happened in my CV? Am I best not wording the scam and putting it down to the recession?...
Can I put pictures of the shop in my CV to show what I achieved?...
Being only 21 I think that this in my CV could help me get a job..
Thank you in advance
The year before last I had been unemployed for 2 years. I'd had enough and when the opportunity came to open my own business I took it...
I borrowed money for stock and shop fittings and opened a Pet Shop in an In Shop...
I Built it from scratch. but around 9 months later, I wasn't doing very well. lots of bad press came to the in shops due to the owner being part of a business scam. (Basically taking rent off stall holders and not paying any bills etc. for the building).
So I had to the shut the shop.
Now how can I word what's happened in my CV? Am I best not wording the scam and putting it down to the recession?...
Can I put pictures of the shop in my CV to show what I achieved?...
Being only 21 I think that this in my CV could help me get a job..
Thank you in advance
It was an incredible learning opportunity, sometimes we learn much more by failing than by bouncing along the bottom. It also makes for a conversation topic in any interview, just don't appear whiney or blame everything on other people.
Did you leave any debts when you closed the company or did you take all the losses on the chin for yourself?
Did you leave any debts when you closed the company or did you take all the losses on the chin for yourself?
MrPicky said:
It was an incredible learning opportunity, sometimes we learn much more by failing than by bouncing along the bottom. It also makes for a conversation topic in any interview, just don't appear whiney or blame everything on other people.
Agreed. I'd definitely mention it, but blame the economy for needing to move on if you're asked. It takes a lot to set up your own business, and I'd play up these skills and experiences rather than worrying about the reasons why it didn't work. I'm always impressed by those who have genuinely had a go at self-employment.I reckon most employers will be able to understand why a new small retail business might have failed in recent years.
I ran a small business for three years, and worked on top (2nd and weekend agency shifts) to cover the mortgage etc.
I couldn't attract much investment when I started and whilst I broke even and had a few honourable mentions in the press, my set up was a volume model (for luxury/bespoke goods). If I wanted to make a profit I needed much higher turnover than I managed.
I also got bored of it to be honest. It got to the stage where I realised I'd have to sell my home to get the kind of money I needed to invest in advertising and premises, or stop working the 2nd job and risk losing my home. I didn't want to do either. Plus recession was looming and luxury goods are the first things that people tend to cut back on. So it made sense to move on.
The business was supposed to be a 5 year plan, where I'd then sell it and go back to some kind of data job. I'd already identified which field I wanted to get into from an advert I'd seen when setting the business up. So I did just that.
It was technically a failed business, although I made total losses of only a few hundred in the 3 years I ran it. I paid my one investor back with interest.
To be honest, no one really asks about it these days. And even before that, I'd point to the fact I took the risk in the first place, that I wound it down by choice based on a realistic assessment of the businesses future and that I was financially intact at the end of it.
You learn a lot from having your own business - proactivity, budgeting, discipline, customer service, business planning etc - that you might not have got from being an employee. Emphasise that on your CV.
Businesses fail every day. The trick is not to go to the wall yourself, and you haven't, so you did OK.
I couldn't attract much investment when I started and whilst I broke even and had a few honourable mentions in the press, my set up was a volume model (for luxury/bespoke goods). If I wanted to make a profit I needed much higher turnover than I managed.
I also got bored of it to be honest. It got to the stage where I realised I'd have to sell my home to get the kind of money I needed to invest in advertising and premises, or stop working the 2nd job and risk losing my home. I didn't want to do either. Plus recession was looming and luxury goods are the first things that people tend to cut back on. So it made sense to move on.
The business was supposed to be a 5 year plan, where I'd then sell it and go back to some kind of data job. I'd already identified which field I wanted to get into from an advert I'd seen when setting the business up. So I did just that.
It was technically a failed business, although I made total losses of only a few hundred in the 3 years I ran it. I paid my one investor back with interest.
To be honest, no one really asks about it these days. And even before that, I'd point to the fact I took the risk in the first place, that I wound it down by choice based on a realistic assessment of the businesses future and that I was financially intact at the end of it.
You learn a lot from having your own business - proactivity, budgeting, discipline, customer service, business planning etc - that you might not have got from being an employee. Emphasise that on your CV.
Businesses fail every day. The trick is not to go to the wall yourself, and you haven't, so you did OK.
Tell the truth; and as others have rightly stated, it's what you learn on the way down that will add value as you head back up. In your CV make sure it's the outcomes that are highlighted, ie what you did achieve during the time the business was in operation, including the setting up, and then what you have learned from the experience that will be of value to a future employer. Happy to provide some feedback on your CV if that would help. Good luck!
As has been said, bullet point the skills you gained from your business, but to not mention why you stopped/left. If anything, I would put 'Business closed). You can go through the details at interview, maybe with photos.
As an interviewer, if someone came in for a job who had recently run their own business then I would be concerned how they would deal with the transition to being managed, i.e. NOT being the boss. As you are 21 and relatively young this is less of a concern than someone who has been running their own business for a decade or more. I would also wonder if you would want to leave as soon as you built up some cash.. Would you start up in competition?
So I would advise you to consider how you can demonstrate that you are enthusiastic and committed (to doing a good job for at least a couple of years) to anyone who interviews you.
As an interviewer, if someone came in for a job who had recently run their own business then I would be concerned how they would deal with the transition to being managed, i.e. NOT being the boss. As you are 21 and relatively young this is less of a concern than someone who has been running their own business for a decade or more. I would also wonder if you would want to leave as soon as you built up some cash.. Would you start up in competition?
So I would advise you to consider how you can demonstrate that you are enthusiastic and committed (to doing a good job for at least a couple of years) to anyone who interviews you.
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