Seeking Advice on Applying for Positions Below My Experience Level

I’m looking for some guidance on how to navigate my current job search.

After taking a few months off to reassess my career, I’ve realized that my previous trajectory wasn’t aligning with my aspirations. A few years ago, I thought I had found my dream job after more than a decade of climbing the ladder in my field. Unfortunately, after two years in that role, I discovered it wasn’t the right fit for me. During my break, I explored various business ideas and have identified one that shows promise. However, until I can resolve some debts and establish a steady income, I need to find a job to support myself and my partner. I’m not yet in a position to fund my venture fully, but I believe that with my business plan, I could transition to full-time work on it within two years.

Currently, I’m applying for positions that are a couple of levels below my previous roles—positions I’m fully qualified to do. Regrettably, I’m facing a lot of rejection, and in some cases, I’m not hearing back at all.

I recently went through the application process for a senior management role in the manufacturing sector, which seemed like a good fit for my skills and experience. However, I ultimately had to withdraw my application because it wouldn’t allow me the flexibility to build my business.

I’m no longer interested in the high-stress environment of senior management, and I don’t need the salary I once earned. I’m willing to live modestly while I develop my business.

I understand that many suggest I should tone down my CV, but I feel that would be misleading. I’ve thought about discussing this in a cover letter, yet I worry that being honest about my desires may lead to my application being disregarded even faster. As a result, I’ve chosen to omit cover letters altogether.

I had expected at least some phone calls or interviews where I could explain my intentions to step down, as I’ve done in the past with other candidates.

I don’t want to be dishonest, but my fear is that transparency may hinder my chances further. What should I do?