Fulfilling Work, Meaningful Life with Anthony Craiker

Overcome Fear, Start Your Second Act Career, & Build a Business You Love (with Shannon Russell)

• Anthony Craiker | Fulfilling Work, Meaningful Life • Episode 14

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In this episode of Fulfilling Work, Meaningful Life, host Anthony Craiker chats with Shannon Russell, former TV producer turned successful entrepreneur and career coach. Shannon shares her journey from the high-paced entertainment industry to establishing her own franchise and coaching business, Second Act Success Coaching. The conversation delves into the challenges and triumphs of transitioning careers, especially for those seeking more purpose and freedom. Shannon offers practical advice on how to navigate career changes, emphasizing the importance of financial planning, leveraging existing skills, and overcoming perfectionism. She also highlights inspiring stories from her coaching clients and shares the personal meaning she's found in her second act career. This episode is a must-listen for anyone contemplating a significant career shift or looking to find greater fulfillment in their professional lives.

00:00 Intro Clip

00:39 Meet Shannon Russell: From TV Producer to Entrepreneur

02:31 The Tipping Point: Transitioning Careers

03:20 Starting a Franchise Business

04:39 Skills Transfer from Entertainment to Entrepreneurship

05:43 Challenges in Entrepreneurship

06:55 Launching a Coaching Business

08:04 Women and Career Transitions

10:27 Tips for Career Transition

15:22 Balancing Finances and Planning Your Exit

19:54 Identifying Transferable Skills

21:45 Reflections and Final Thoughts

25:36 Conclusion

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About Shannon Russell:

Shannon Russell is a Career Transition and Business Coach, an Exit Strategy Expert, and the CEO of Second Act Success® Coaching. Shannon spent over 16 years as a Television Producer before she decided to stop producing shows for others and start "producing" her own life. Shannon pivoted her career from the entertainment industry to entrepreneurship, and she now empowers women to leave unfulfilling careers and build joyful, purpose-driven businesses that allow them to live their best lives in their "second act." Shannon is the author of Start Your Second Act: How to Change Careers, Launch a Business, and Create Your Best Life , and she hosts the Second Act Success Career Podcast.

Connect with Shannon:

CHECK OUT SHANNON'S FREE RESOURCES FOR LISTENERS!

PRE-ORDER SHANNON'S BOOK

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How to Start Your Second Act Career and Build a Business You Love with Shannon Russell

Shannon: [00:00:00] it's just getting out there and knowing that no one started. Perfect. And that it just takes time. And if you have a passion behind it and you know this is what you wanna do, it makes you hustle.

It makes you like push through those fears and keep going. Especially if you don't wanna go back. Like for a lot of people who may be left a toxic job or something that they really hated, you've got to make this work. And that's like kind of that fire under you that hopefully pushes you through that perfectionism to get to the other side. 

Anthony: Have you ever felt like the career you once dreamed of no longer fits the life that you're living now? In this episode, I'm joined by Shannon Russell, former TV producer, turned successful entrepreneur and career coach. We explore what it really takes to start your second act in life. If you're craving more purpose, more freedom, or just wondering if a new chapter is even possible.

This conversation is for [00:01:00] you. Stay tuned. This is fulfilling work, meaningful life, the show that helps you find and create greater meaning in the most important aspects of your life. 

Welcome to another episode of Fulfilling Work Meaningful Life with Anthony Craiker. I am joined today by Shannon Russell, a career transition and business coach and CEO of Second Act Success Coaching. Shannon, thanks so much for being on the show today. 

Shannon: I. I'm excited to chat with you. Thanks for having me, Anthony.

Anthony: Absolutely. So you've had , a pretty interesting career. You started out in the entertainment industry as a television producer. , let's start there. Tell us a little bit [00:02:00] about , your background in television. I. 

Shannon: Yeah. , it was my dream since I was a little girl to work in Hollywood. And, , yeah, and I began my career in New York City, worked in LA for many, many years and came back to New York City.

It was about 16 years total that I produced. , even a little stint in Orlando near you. 

Anthony: Oh, okay. All right. 

Shannon: But yeah, it, , was a fantastic career. High pace. Lots of fun travel stories for years to be able to tell, but then I became a mom and things started changing after that. 

Anthony: So was that the tipping point when you became a mom that, that you decided it was time to transition career wise?

Yeah, it was. 

Shannon: Yeah, it was when I had my, I was pregnant with my second son, so I had a 3-year-old and then a newborn, you know, a little one on the way. And that's when I just had this moment in New York City and the subway station of like, this is just too much. I was stressing to leave the city, catch the bus to get back to the suburbs and pick up my little one from daycare, and I just said, 

I can't keep doing this. I had missed a first birthday, I had missed a first [00:03:00] Halloween. , and yeah, I just realized that, you know what, I can check the box on that career and accomplishing that and let's see what else I can do. 

Anthony: Yeah. , makes sense. Different phase of life and, , sometimes we have to make different, , choices about what we do career-wise when we enter those different phases, .

Mm-hmm. , , so what did you do after that? What was the next step for you in your career? 

Shannon: That was me really figuring out what I could do and how I could transfer my skills into something else. So it was about a year of me figuring it out, , alone, kind of in a silo, trying to take the nine to five job I thought would fit me and that I was supposed to do because I needed to contribute to my family.

I started a master's degree program thinking, oh, I'll be a teacher that's nice and stable, um, none of which fit me. And I decided to leap into entrepreneurship and open a business and kind of produce my own life at that point and see if I could use my production skills to produce and grow this business.

And 

Anthony: , how did that work out for you? 

Shannon: , it was amazing [00:04:00] actually. It was a franchise business that I ran for eight years. I sold it successfully last year. , but it was fantastic. So for your listeners, like franchising is amazing. It's almost like a business in a box because you get that support from the corporate office, you get marketing materials, you have other franchisees to lean on.

So for me, as a first time business owner, it was. The best thing for me, , to learn about business and I grew that business pretty quickly and then wanted to do it again and opened my coaching business shortly after that. 

Anthony: That's great. , what kind of skills did you acquire working in the entertainment industry that transferred , to entrepreneurship?

Shannon: Great question because I did not think anything would transfer when I was trying to figure it out. But then I really started looking at all of my skills and I had written scripts. I had hired teams, I worked with big budgets. I was pitching show ideas to talent agencies and celebrities and. Really, a producer takes an [00:05:00] idea for a show and does everything to get that on the screen.

And I looked at entrepreneurship as the same way I was starting a business and I needed to let my community know that this business was out there and I had to do the marketing and the hiring and manage the money and just all of that. So I started realizing like. There's a lot of the same skills and most of it's communication, talking with people and talking with employees or crew and cast and, , a lot more than I gave myself credit to, I think, when I first started.

Anthony: Yeah. Yeah. So , I imagine it wasn't , all roses. When you started Euro business, what were some of the challenges that you faced? , maybe challenges you weren't even aware that you were gonna face when you, , decided to become an entrepreneur? 

Shannon: Yeah, there were many. It definitely wasn't, , roses at first.

It honestly, it was, I think the hardest part where I think a lot of people, a lot of my clients for sure struggle with is that that fear of the unknown and then the identity piece. Just saying, wow, well, everyone knows [00:06:00] me as this. This is what I spent my career working towards, and now I'm. Giving it up to try something else.

So it's that identity, which I had to realize, you know what, I'm still the same person. I can still be a producer 10 years from now if I want to. I still have the skills. So it's really more about me as a person and adding on, , than really losing anything. , and then that fear of not knowing what tomorrow will hold.

I'm someone who likes challenges, but growing a business is a lot of fear and it takes longer to build than I had ever anticipated. So it was probably a year, 18 months before I paid myself because everything I was bringing in was getting invested back in the business. Right. And I think that's something a lot of new entrepreneurs might not know, that you're not just taking whatever you make and putting it in your pocket.

There's a lot of growth there. 

Anthony: Yeah. Yeah. It takes a lot of patience and, , tenacity , to get to where you need to be. Yeah. . So, , now you started a second business, your, your coaching business. , tell us a little bit [00:07:00] about that. 

Shannon: Yeah, I started that maybe four years into my franchise.

I had customers asking me, oh, were you a teacher? Because my franchise taught children STEM education. And so they all thought I was a teacher beforehand, and when I would say I was a producer, they would say, oh, and then it started being, well, can you help me? I really don't want. To do this career anymore, how did you move from that to this and it, so it was really organic and I started having friends asking me, oh, your business is doing great.

Can you help me figure out a business to start? And I started realizing that, especially in that like midlife, you know, your, you have young kids, you're trying to figure it out, your career doesn't really align. And so I said there's a need, especially for women. Who are sitting here trying to handle the house and the kids and all of it that were feeling really stuck and unfulfilled and misaligned.

And so I, I wanted to really serve other women like me to kind of be that accountability partner to help them [00:08:00] figure out what else to do. So that's how it, it began. 

Anthony: Now , I've heard , that women in particular have struggled more with making career transitions. , is that true in your experience?

, and if so, why do you think that is? 

Shannon: Yeah, I've definitely worked with some men as well, but I feel like the women hold the weight of. And again, to go back to like guilt, right? Like just that guilt of wanting to make a change and I don't wanna disrupt my life and the flow of my family. And I've actually had women say to me, well, who am I to want to make this change?

Doesn't everyone hate their job? Mm-hmm. And so you just. You know, it's, it really comes back to putting everyone else first, I think, and just figuring, oh, I'll suck it up and then one day I can figure out a, a career change, or I'll open that business one day. So, yeah, I feel like it's just that, . Feeling like you hold the weight of the entire family on your shoulders, and even if you are not, if you don't have a family, maybe you're taking [00:09:00] care of elderly parents or you've got friends, you know you've got other obligations and you feel like you're in charge of it all.

I. 

Anthony: . Yeah, I can imagine that that would be a, a little overwhelming to want to make , a change , in those circumstances. So, , as you've worked with, people in your coaching business, I'm sure you've seen a lot of success. Can you share a story or two, , from, , your coaching business that , has been inspiring to you?

Shannon: Oh yes. , one is fairly recent. Is it? There's one client, , that I worked with for a couple of years and she wanted to leave her teaching job. I. And she started a teaching business, but teaching babies and toddlers sensory play. So it was a little small side business where she taught classes within the community.

She was able to grow that business, leave her teaching job, and then she said to me, I wanna open a brick and mortar. I wanna have my own center play center. I wanna have coworking spaces for parents so that the kids can be taken care [00:10:00] of when the parents have to work. She had this really big vision and I had owned a brick and mortar.

With my franchise. So we really worked to figure out how is she going to work up to scale into a brick and mortar. And she opened it last fall. And so that's been incredible to see like from working full-time as a teacher to starting this business on the side and now having , this hub for her community.

, yeah, I'm very proud of her for that. 

Anthony: Yeah. , that's amazing. Mm-hmm. , so if somebody's thinking about a career transition, what are , some tips, , , to help them know whether or not they should be making a change, , , at whatever point in life they're in at the moment. 

Shannon: I always say that the most important thing is to do your research, so learn before you leap.

So if there's some ideas that you've been thinking about or ideas swirling in your head, write them down and just start looking at them. So look at what someone in that role I. Does or how running that particular business is on a day to day. [00:11:00] So you can research other businesses online or other roles.

You can reach out to people on LinkedIn. Have those conversations of like, Hey, I'm thinking about getting into this field. Can I chat with you a little bit about your experience? Because the more you learn about a field, an industry, a business. You might say, you know what, that's not really what I thought it was.

So it's not for me. And you can check it off your list. , and then as you realize, wow, this is really what I want. That's where the confidence comes in, and then you wanna start taking those next steps. So I think , the research equals confidence. And then you're not only confident to take those ne next steps, but you're confident when you talk to your partner, your parents, your family, other people that may be the naysayers in this situation, but your confidence kind of trumps that and you say, Nope, I did my research.

This is what I want to do. , so yeah, I think that anyone who's thinking about it can start with that just a few minutes a day or once a week for 15 minutes just to start doing that research. 

Anthony: , [00:12:00] as you've worked with your clients, have you found that some people struggle with perfectionism and that that holds them back , from being able to move forward?

Shannon: Yeah. Yeah, and I think probably we all have some degree of that, but yes, I think it's perfectionism and also wanting it right away. And so I'll work with clients who have started their businesses and it does start slow. It takes a while to see that growth and that makes them feel. They're doing something wrong or it's not right, or they're not good enough.

And I think that's what you're asking, right? It just comes into play and then, you know, it's someone like me or someone else on the outside who has to say, no, you're doing it. It's going to take six months. Plus just keep at it and keep doing what you're doing. And , you've got all the pieces there.

But yeah, it's not all perfect all the time. It's, what is that saying? Done is better than perfect. Just get out there and start. 

Anthony: Yeah, I was at, , pod Fest, , back in, I guess it was [00:13:00] January. I think I was there too, Anthony. 

Shannon: Oh, were you? Okay. I was, 

Anthony: yeah. , maybe next year. , we'll see each other there, so let's do it.

Yeah. , so, , did you go to the, , keynote with John Lee Dumas? Yes. Who I adore. Okay. He's amazing. Yeah. I mean, what an inspiration, right? Yeah. Just a amazing, , guy, amazing show, , with him , and his wife, working together. Yeah. , so , he said something in that keynote about perfectionism, and it was kind of a strong statement, , when I first heard it, I was like, wow, that's, you know, that's pretty strong.

But he said, and , I'm paraphrasing the quote. I don't have it exactly, but it was something to the effect of perfectionism is cowardice. And, , you know, at first I was like, wow, that's, you know, that's kind of strong a as I thought about it, I think I understand what he was getting at, which is sometimes , we let our.

Sense of perfectionism or our desire , to have everything, , right. And , all our ducks in a row hold us back from taking [00:14:00] action. And that , it's much better to take action and move forward than it is to, you know, waste a bunch of time worrying about whether , we're doing it perfectly.

So there's, I think there's a balance there between what you were talking about doing , the research part, which is essential. I mean, if you're gonna make a transition, you don't just. Jump into the pool, right? Mm-hmm. I mean, you've gotta do the research, but at the same time, I think it's important to not let , the fear of not being perfect prevent you , from moving forward.

Shannon: Mm. Yeah. I absolutely, and I kind of got chills when you paraphrase that because it's true. It's that crutch , that veil we can hide behind. But yeah, it's just getting out there and knowing that no one started. Perfect. And that it just takes time. And if you have a passion behind it and you know this is what you wanna do, it makes you hustle.

It makes you like push through those fears and keep going. Especially if you don't wanna go back. Like for a lot of people who may be left a toxic job or something that they really hated, you've got to make this work. And that's like kind of that fire [00:15:00] under you that hopefully pushes you through that perfectionism to get to the other side.

Anthony: For sure. So if somebody's done the research, , they kind of know where or think they know what they wanna transition to, what are the next steps? What are some practical steps they can take to make that transition, , to make it as smooth as possible. 

Shannon: Practical wise, , it's looking at your finances, to be honest.

It's looking to see, okay, if, especially if you are currently working, looking at the finances , and saying, , can I leave now? Should I leave in six months? Is it a year? Like, to be honest with yourself, knowing that if you are leaping into business. It's going to take some time for you to see that money in your bank account.

So just being as realistic as possible, because I think the more you plan, the more success you will have. And , I would love the idea to say, put that date on the calendar and just jump. But realistically you want to feel safe and secure so that you're not just running back to where you left. So I think [00:16:00] having that honest.

Financial discussion with yourself, looking at that, deciding, well, what can I do now? Because if you are working, you can start setting up that LLC, you can create the website, you can do things now while you're still earning a paycheck that this way you feel like you're still moving that momentum along.

, but you're doing it in a really strategic way. And then of course, planning your exit strategy and making sure. That you're not leaving your team an lurch, that you're being as respectful and thankful to your boss and , your team, , so that you don't burn a bridge because you never know where that can lead down the road.

, so yeah, I think those kind of planning steps make you realize that maybe it's a long game and not happening tomorrow, but you can start those little action steps to work towards it. 

Anthony: , do you recommend, , kind of starting a side hustle or side business before going all in? , I mean , to some extent.

 I'm guessing it just kind of depends on the financial situation as [00:17:00] to whether you can jump right into a full-time career change. , especially , if you're going in the entrepreneurship route. But , what are your thoughts on, , kind of starting on a part-time basis , and moving into full-time?

Shannon: Yeah, I think that's , the safest way if you can. Absolutely. I had left my job and had to jump in, but even in my franchise, there were several people who were doing it on a part-time basis while they worked. So I think , any kind of business can be run like that, , at least in the beginning. And also depending on if you have a business that needs full-time attention and you have the funds to hire people while you're working, then that's great too.

But I. Yeah, you can start off slow on the side. And it's a great way to test the market. It's a great way to find customers to start, , advertising on social and putting yourself out there. , I have a book coming out and even when I was writing the book, my team was telling me start promoting it now, and that sounded really weird.

I was just writing it, but it's kind of the same way you can promote your business [00:18:00] slowly to get it out there, get people following you and into your world, and then when you're ready to do it full time, you can go full steam ahead. But it's just that all those little pieces that take forever to start any big project, you can start on the side , and hopefully that will just make you more excited about it. 

Anthony: how can somebody know , if they've started side hustle and they're starting to see some success, , how can they know when it's time to, leave , the nine to five and go all in with , a business idea? I. 

Shannon: I think if you are seeing success and you see there's , a market need for your products or your services, , it's always good to ask your customers, for their opinion.

What else would they like to see you offer? Really use them as that, market research team 'cause they're already in interested in you and what you're offering. And then kind of look at your product suite and say, okay, I think I can add something on, or I think I'm really in a good place and do the, the projections for the [00:19:00] next six months and see again how much will I be bringing in and how much more can I bring in if I'm full-time?

So it's a little bit of math and and projections, but then looking at like, okay, if I take away my salary, am I okay? And I think if everything kind of aligns there. Then you just give that little bit of hope and magic knowing that if you're a thousand percent into this and your focus isn't on anything else, you're really gonna grow and you're gonna grow that much faster.

When I sold my franchise last year, I knew I could go a hundred percent or a thousand percent into my coaching, which freed up my space and helped my creativity. So , it's kind of along those lines of just if everything lines up and you can do it, then go for it. 

Anthony: So if somebody's, , thinking , of making a transition of becoming a small business owner, , but they're wondering whether they have the skills to do that from, , a previous job.

How do they go about identifying , those necessary skills? And, you know, in your case, , you [00:20:00] worked in the entertainment industry. , that's somewhat, unique, , in terms of, , a career, , history. But, what should people be thinking about , to determine whether they have the skills that will help them succeed as an entrepreneur?

Shannon: It. It sounds silly, but it's as simple as writing it down and making a list, because I think a lot of us feel like what we do is not exciting and not unique, and that everyone can do it, but what? But that's not true, right? Mm-hmm. No matter what your job is, you have skills that other people don't have, so write down every skill that you have, every experience, every duty that you might be doing at your job, and look at it and you can think back to.

Your , waiter, waitressing, job you had in college or working retail somewhere, because those are all skills that can apply, especially in business. So write everything down, look at your experiences. , think about even like for teachers for an example, like you're presenting in front of people, you're managing a classroom.

, you know, there's so many skills that you might take for granted. So you [00:21:00] can compile all of those and then look at the business options that you're thinking about and really see. Those threads that can go from what you have to, what you're working towards. And then you can find any gaps of where you might need some training or certification.

, and then there's also like career assessments. I'm certified in one called You Map where we take all of your strengths and personality and skills and it gives you a profile. So you see everything that you can do and everything you enjoy. And that helps you make sure that you're moving towards a business or a role that is truly aligned.

So there's a ton of those out there as well. , but by digging in a little bit, you might surprise yourself. I know I did. Of what you can actually do. 

Anthony: That's awesome. , so looking back, , on your career, what do you wish you had known about starting a second act career, , as you were making that decision to leave the entertainment industry?

Shannon: Hmm. Honestly, , I think about this sometimes, and [00:22:00] I wish I had started my own business earlier. I wish I had started while I was working in television and maybe allowed myself to think outside of where I was sooner. Because I think, with the way. The world is right now in so many layoffs that it's wise, no matter how secure you think your job is, is to kind of have that plan B in the back of your head to think about what could you do if you needed to do something on your own.

, so I often think about that of like maybe just starting something or, or incorporating myself. While I was working in television, you know, , kind of planning ahead and then just knowing to save, save, have that emergency fund. I think that's really important for rainy days, career changes, starting a business, any of that.

Anthony: That's good advice. So , not to get too philosophical here, but, , one of the things that we talk about on this show is, , how we can find and create meaning in the most important aspects of our [00:23:00] lives and certainly the work that we do, our career, , whatever, , it is , that's a big part of our lives.

So how has your second act, , brought meaning into , your own life? Hmm. 

Shannon: Well, my whole why in really making this was to be that present mom for my kids. And so it's brought that meaning to know that I'm with them. They're now, they just, this is birthday week in our house, so they just turned 10 and 13, but I've been with them since they were three and newborn and, you know, growing businesses on the side and writing books and podcasts and doing all of that.

So they get to see all of that. But I feel like. I am present. I'll never regret not being there with them. And I'm showing them that you can change and you can try new things and you don't have to have this one path in life. So I really think that's the meaning behind my second act, is just being able to create two really amazing, I.

Boys to, you know, men to, you know, bring into the world and have [00:24:00] them be independent and out of the box thinkers. , and then of course, just serving other women that I work with and letting them know that they're not alone and they don't have to stay stuck because they think that society tells them to, that they can change at any time, any age.

Anthony: That's great. That's great. , I love that, , that's always been my driving force behind, , my career and what I do is , my family, my kids wanting to, , provide , a good life for them, but also to be there , for them and, , , not spend. Hours and hours away , from home, , every week.

, it's really rewarding , when you're able , to do that. So , that's beautiful. , where can people connect with you and learn more about, your, , coaching business? 

Shannon: Yeah. I met second Act Success everywhere on social and second act success.co is my website, so you can learn about my book and my free resources and coaching and all of that.

Anthony: Awesome. And we'll be sure to drop all your, links in the show notes for our listeners to check out. , when does the book come out? 

Shannon: May [00:25:00] 7th, so very soon. Oh wow. 

Anthony: Okay. So fast approaching. All right. Yeah, it's 

Shannon: called Start Your Second Act. So yeah, I'm doing all the marketing and stuff right now. It's exciting.

Another act that's 

Anthony: for me. Yeah, yeah, yeah. , a third act. Right? 

Shannon: Exactly. 

Anthony: , yeah. And so I will that be available on Amazon and. Noble and all those places. Yep. 

Shannon: It'll be, should be available everywhere. So yeah. And , I just recorded the audio book, so it's audio ebook, paperback and hardcover. So yeah, I'm very proud of it.

That's 

Anthony: great. Well, congratulations on that. Thank you. , well, as we wrap up here, any final words of wisdom for our listeners about, , career transitions or second acts? 

Shannon: I think, , I always say give yourself grace because just the fact that you're thinking about something else is a sign that you deserve it, that you want something else that's something in your current world is not sitting right with you.

And so it's okay to explore it, I think Just let yourself explore it and you'll learn a little bit about yourself and options in front of you. 

Anthony: . Well, thank you Shannon, so much for, , coming on the [00:26:00] show today. It's been a real pleasure chatting with you. 

Shannon: It's been so much fun, Anthony. Thank you very much.

Anthony: Thanks so much for listening to today's episode. Please remember to check out my website, fulfilling work meaningful life.com to sign up for my monthly newsletter, meaningful Insights. When you do, I'll send you a free digital resource that will help you find or create a fulfilling career. Until next time, let's make it a meaningful week.