If you've experienced a career setback like getting laid off, getting back on your feet can be tough. You may be discouraged by your career prospects and lack motivation. One positive step you can take is to start your own business. Entrepreneurship lets you call the shots and can be an empowering way to regain control of your professional life. Read on to discover the benefits of entrepreneurship and how to make it work for you.

Take the time needed to mourn your old career

It's understandable to be upset after a job loss or similar setback. Give yourself the time you need to mourn this loss. Your future plans and vision have changed, and you should acknowledge that shift. HeadSpace offers practical pointers for bouncing back after job loss. For example, it can be useful to create a routine while you're unemployed and to explore new opportunities. It's also important to avoid internalizing rejection, which can take a toll on your confidence and interfere with future endeavors.

Figure out what kind of business to start

There are many different types of businesses you can start, from graphic design to blogging, handiwork, resume writing, and online tutoring. When deciding what path to pursue, consider the resources and skills you already have at your disposal. For example, if you have a teaching degree and classroom experience, an online tutoring business may be the right fit. Alternatively, if you love to bake, you might set up a bakery. If you love to sew, you might start a tailoring business.

Consider getting additional education or training

Depending on the type of business you pursue, you may want additional credentials or education. For instance, if you want to work as a graphic designer, a certificate in design can help prove you've got the necessary talents. More generally, certifications and degrees in areas like business management and leadership can help you gain confidence as an entrepreneur. By honing your leadership abilities, you'll be better able to manage a team.

Address the logistical aspects of entrepreneurship

Starting a business requires you to jump over some logistical hurdles. First, register your business as a formal legal entity, like a limited liability company. An LLC provides administrative flexibility and tax benefits. Be advised that different states have different LLC formation regulations. You can use an LLC formation service to structure your business, which is cheaper than a lawyer.

Write a business plan

Once you know what kind of business entity you're going to set up, it's time to write a business plan. The US Small Business Administration explains that this is like an operational handbook for how your business will be structured and run. It should include basics like a company description, market analysis, organization and management overview, marketing and sales plan, and financial statistics. Once it's complete, you can use your business plan to request funding.

Determine how to get funding for your business

Most businesses require some kind of startup capital to invest in inventory, supplies, and technology. You can cut down on the needed startup expenses with tricks like starting a home-based business so you can skip the cost of commercial rent. If you don't have enough money to fund your overhead costs at the beginning, look to external sources like banks, crowdfunding platforms, and angel investors. When comparing funding options, be sure to consider points like interest rates and payment timelines.

Invest in marketing to promote your business

Marketing allows you to boost your brand and gain an audience. There are many cost-effective marketing tactics you can try, from blogging to social media. With social media marketing, it’s all about making your posts stand out so users won’t scroll right past them. You probably want to create a PDF online in order to add some graphic appeal to your social media updates. PDFs are great for creating digital flyers, coupons, and other images that will ensure you really pop on user timelines, and there are a variety of tools you can use to create PDFs from scratch or make edits so they deliver exactly the message you’re trying to send out.

While digital marketing is important, don't ignore traditional techniques like business cards. A business card leaves a more lasting impression than an email and is a great way to get customers to remember you. You can use pre-made templates to design your own business cards, personalizing details like the text, colors, images, and font. Make sure to have cards on you when you go to networking events — more on that next.

Network to connect with other entrepreneurs and mentors

Networking is a great way to connect with other people in the startup world. They can provide encouragement and wisdom. Plus, they may end up becoming business partners or customers. Through networking, you can also find a mentor. This is someone more advanced in your field who can provide tips when you encounter setbacks. Mentors offer many benefits, from helping you grow your skills to providing encouragement when you may be feeling disheartened.

Starting a business can be a positive step toward greater career satisfaction, especially after a professional setback. Take care of essential tasks, like registering your business as a formal legal entity and using PDFs in your social media marketing. By following these steps, you're destined for entrepreneurial success.