Employment gap due to exploring business idea

[oldbird]

Left a job and spent 1 year exploring a business idea.

Partner pulled out after several months and nothing much was achieved. Did some technology exploration but no actual product development done. No business development and no customer served as portfolio to show work done.

Now planning to find a proper job again.

1. Can I put self-employed and explain the 1 year gap as a failed business idea that failed to materialise and gain traction?
   
2. Or simply put unemployed for 1 year?
   
3. Or put it as spending time on a personal project rather than self-employed?

[terminator]

Originally Posted by oldbird

Left a job and spent 1 year exploring a business idea.

Partner pulled out after several months and nothing much was achieved. Did some technology exploration but no actual product development done. No business development and no customer served as portfolio to show work done.

Now planning to find a proper job again.

1. Can I put self-employed and explain the 1 year gap as a failed business idea that failed to materialise and gain traction?
   
2. Or simply put unemployed for 1 year?
   
3. Or put it as spending time on a personal project rather than self-employed?

In my opinion, option 1 would be the best.

I suggest don't put the word "failed" on your resume, just self-employed would be enough. You have any document to prove that you were self-employed or active during that period? Like business registration cert.?

Only if the interviewer wants more details you can go tell him. It is okay to fail, more important is to rise up again stronger after failing. So most importantly, you should be able to suggest what were the lessons learned and how it helped you grow into a stronger person. Don't think of yourself that you are a failure, but rather a self-confident, daring and independent thinker who takes risks. Don't give the impression that your entrepreneurial spirit has faded away, rather you should focus on showing that you have learned that how should avoid failure in future.

One more thing, beauty is in the eye of the beholder. Someone with bad judgement may see you as a failure or an outlier. However, some sensible employer (and you should hope that a sensible employer may hire you) will see the brave side of you.

As a side note only, and in my humble opinion, I personally think "exploring" an idea could be done with your full-time job, but to leave a job in order to "work" and focus on an idea is understandable. So you should think how you would get around this question. If possible, just list out some other activities or personal growth activities you undertook during the gap year, like traveling, volunteering, etc.

[terminator]

Adding on to above, just say everything positive about the outcome of your stint. If you are positive, a (sensible) interviewer will be positive as well. Like if they ask you: "why you want to work on job now, why don't you continue to pursue self-employment." DON'T say "I realized from my failure that self-employment is not for me" or that "I have run out of money". Rather you can say "Being self-employed helped me to be more independent and handle tough situations alone, however I have realized that I am more energetic or better contributor by working in a team" and "I prefer to have more stable income now".