113: Side Hustle or Second Career? Navigating Midlife Entrepreneurship with Shannon Russell

“Do your research. Do your planning yourself until you get that confidence to project it to the world, and whatever they say will bounce off your armor because you know you’re doing the right thing.” -Shannon Russell   Thinking about trading your day job for a business of your own? You’re not alone—and you’re not crazy.   Our hosts, Stephanie McCullough and Kevin Gaines, talk with Shannon Russell, a career transition coach who specializes in helping women reinvent themselves through entrepreneurship. Shannon shares her journey from TV producer to franchise owner to business coach, along with insights from her new book, Start Your Second Act.   They dive into everything from identifying whether your passion project can really become a business to managing financial risks, exploring different business models, and handling the emotional side of career reinvention. Shannon emphasizes the importance of doing your homework—researching the market, testing ideas on a small scale, and being honest about your needs and goals.   Whether you’re chasing flexibility, meaning, or a new income stream in your second act, Shannon’s here to offer your encouragement and practical advice for building something that truly fits your next chapter!   Key Topics: Shannon Russell’s Story (02:56) Hobby vs Business (05:39) “If It Were a Job, I Wouldn’t Enjoy It As Much” (10:43) “It’s Not Gonna Be an Overnight Success” (16:10) Adding Extra Streams of Revenue (20:31) The Importance of Having a Mentor or Accountability Group (24:35) About Shannon’s Upcoming Book (31:32) What Shannon Would Do Differently in Business (33:19) Overcoming Potential Identity Crises When Entering Your Second Act (36:36) Getting Clear On Your “Why” (41:58) Takeaways (43:48)   Resources: Shannon’s new book: Start Your Second Act Second Act Success Second Act Success Podcast     If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com   You can find the transcript and more information about this episode at www.takebackretirement.com.   Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.  Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.