A few years ago I created the model below to help my career transition clients see and name more options than the two most common; a new job much like the last one, or entrepreneurship. I also thought it would be helpful to show the economic factors and degree of difficulty for each option. Take a look. What option(s) are you considering? We all need a plan A, plan B, and why not an additional seven, just in case we need them too?
Intentional time off for personal reasons, professional renewal and/or development.
Very similar or identical work, environment and employment terms.
Change industries, work culture, size or type of firm, but continue in a similar function.
Change in compensation terms, including contract work, part-time, and/or flexible schedule.
Starting a consulting practice, buying or starting a business or buying a franchise.
To move from your most recent role to a lower level of responsibility and/or lower title.
Redistribution of time committed to work, community and personal activities.
Significant change in the nature of work, using different skills and/or expertise.
Strategically moving from one option to another over time, establishing timelines and personal, work and financial benchmarks. Building bridges to the next step, while engaged in the current path.