The CEO Who Ended Up on Unemployment Benefits

Originally published in Vísir on February 22, 2026 | By Rakel Sveinsdóttir | Translated from Icelandic

Sigrún Guðjónsdóttir held management positions in Iceland and received an offer for a CEO position at Nissan in Sweden. But she ended up on unemployment benefits in Switzerland. She was on those benefits when she founded her company, which today has an annual turnover equivalent to nearly 400 million Icelandic króna.

“Carlos Ghosn was an idol for us in the MBA program in London, as he was famous for turning Nissan's massive losses into profit,” says Sigrún Guðjónsdóttir, business coach, recalling the moment she met this former CEO of Nissan.

A moment that, a few months later, led to Sigrún being offered the CEO position at Nissan in Sweden, where about two thousand people worked at the time.

“I knew nothing about cars and had no idea that a few months later there would be a banking crisis in Iceland,” says Sigrún, laughing at how an answer to an interview question helped her land the offer.

“In the interview, I was asked what I would do about the fact that in Iceland there were quite a few unsold cars. I answered: I would go get them.”

Something that Nissan's upper management surely kicked themselves for not having done, but of course no one foresaw how massive Iceland's banking collapse would be.

Sigrún decided to say No to the CEO position. She felt she actually had some experience for the role, as she herself had turned losses into profit at Innn and had tried to do the same for Tæknival.

“I was in love, and he lived in Switzerland, so that's where I moved. I had no worries about not finding the right job, having an MBA degree from one of Europe's most prestigious schools in its field, London Business School,” says Sigrún, adding:

“I was 38 years old and had been single for several years.

I wanted to give love a chance.”

Sigrún met her husband Martin Uetz from Switzerland in 2008, said no to the CEO position at Nissan in Sweden, and decided instead to give love a chance.

The Woman in Red

Sigrún always wears red.

Her company's annual turnover amounts to nearly 400 million Icelandic króna, or the equivalent of about 2.6 million euros.

Sigrún lives in Switzerland and employs about 20 people.

Sigrún almost always travels in business class when she flies.

“We were once offered an upgrade on a flight from San Diego in the United States. The upgrade cost 900 dollars, which my husband thought was nothing at all, so we decided to go for it,” says Sigrún, adding:

“The first thing I noticed when I sat down in business class was how few women were sitting there. I thought to myself: I am empowering thousands of women around the world. From now on, I'm going to travel in business class as often as I can, as part of leveling the playing field for women.”

Sigrún always wears red, and although success characterizes her story, she also went through the experience of starting a company without knowing what she should actually do. Teaching women to run online courses was ultimately what broke through.

Living in Switzerland is extremely expensive by Icelandic standards.

“Wages here are higher though. The gardener, the CEO, and the preschool teacher. Everyone earns higher wages in order to sustain themselves in a society that is more expensive than Iceland.”

Sigrún's husband is Martin Uetz. The couple met at a Tony Robbins lecture in London, where Sigrún sat next to Martin and his mother.

That was in 2008, and Sigrún's two stepsons, Michael and Dominik, are now both in their thirties and have moved out.

Sigrún goes for a daily walk around the neighborhood.

And always dressed in red then too?

“Yes.”

Sigrún's hourly rate today is 2,500–3,000 euros, but her methodology is based on giving online courses for free and then selling attendees further courses. Up to 30,000 women can attend Sigrún's largest courses.

The CEO Who Went on Benefits

Sigrún's hourly rate is 2,500–3,000 euros. That says the least about her work, however, because first and foremost, Sigrún's clients are women who attend her online courses to learn how to run their own online courses.

The success didn't come immediately or out of thin air.

Before turning forty, Sigrún became unable to work for seven months and went on rehabilitation benefits. She found it even harder to go on unemployment benefits: The woman who had been a CEO was suddenly on benefits because she couldn't find work.

If we quickly run through Sigrún's story, she was born in 1971 in Reykjavík, the daughter of Guðjón Jónsson and Sigrún Ásta Bjarnadóttir. Sigrún has one older brother and one younger sister.

She has previously told her story in the media. She was at one time interviewed by all the major business outlets in Iceland, and in 2021 an interview with Sigrún appeared in Morgunblaðið where she outlined her story in broad strokes.

For example, after studying architecture in Germany, she worked as an information architect and later as a department head at Landmat, then turned the web company Innn from losses to profit in a short time, or took on the CEO position at Tæknival at just 33 years old.

Sigrún has learned today never to sit still for too long or get stuck in repetitive movements. That made her sick at the time and eventually unable to work.

Alongside her work, Sigrún had enrolled in an Executive MBA in London and later moved there to complete the degree.

“At first, I didn't think it would be a problem to find work in Switzerland because I spoke German and had studied in both Germany and Switzerland,” says Sigrún, adding:

“Martin was at the time a manager at Cisco Systems and earning very good wages. He therefore had no worries about this.”

After a six-month job search, Sigrún got a position at a Swiss medical technology company, but within a year she fell ill.

“I didn't understand what was happening. The pain was so severe, starting in the neck and radiating up into the head and out into the arm,” says Sigrún, describing how her body gradually started giving way.

Sigrún went on a seven-month sick leave.

“In short, I became ill because I sat at a computer 42 hours a week and always repeated the same movements,” says Sigrún, adding:

“Up until this point, I had always been in office jobs where I was moving around. Getting up to go to meetings, even walking out to the car and driving to meetings, and so on.”

While Sigrún was still home due to illness, she was offered the position of managing director at InfoMentor, which was establishing itself in Switzerland at the time.

“I accepted that position since I could work from home. After a few months, however, I suggested they hire someone in Germany instead, where wages are 30% lower.”

Sigrún therefore started looking for work again.

“I had a good résumé and a good education but no network in Switzerland. There I was considered a nobody, and it didn't matter what I had done or studied before.

Eventually, I applied for unemployment benefits, and I'll fully admit that I found it a difficult step.

The woman who had previously been a CEO was now on unemployment benefits.”

When Sigrún and Martin got together, Martin was a highly paid employee at Cisco Systems. He therefore had no worries about Sigrún not finding work. For an independent woman from Iceland, however, it was difficult.

On Benefits but Starting a Business

Sigrún teaches women to earn from online courses using the same methodology she has employed for over a decade now.

“In my largest marketing campaigns, up to thirty thousand people sign up for a free course with me,” says Sigrún, adding:

“The magic, however, is to start selling as soon as the free course ends.”

More on that later, because the first question is: How did you get this idea?

“It actually came about because I went on unemployment benefits!” says Sigrún, bursting into laughter.

“The thing is, while on unemployment benefits, I was required to apply for at least eight jobs per month and meet regularly with my unemployment counselor. Who one day said to me: There's no chance you'll find a job, Sigrún.”

Sigrún was taken aback: What did the man actually mean?

“He then explained to me that I was actually too experienced for the jobs that were available. But then he asked: Have you ever considered starting a company?”

Yes, Sigrún had indeed considered it and even dreamed about it. She just didn't know what kind of company she should start.

“The benefits system in Switzerland is such that you can make an agreement to start a company and they will still pay you unemployment benefits for four months.

But after that, you're on your own, and this is the agreement I decided to make.”

Sigrún had no idea what kind of company to start when her unemployment counselor in Switzerland suggested she start a business since she wouldn't find a job there anyway. In Switzerland, people who start companies continue to receive benefits for four months but are on their own after that.

Sigrún says she didn't know what kind of company she was going to build.

“I tried all sorts of things. Everything from being a portrait photographer to selling Icelandic designer products or writing a travel book. I was good at creating business plans and knew I could make many things work, but I wanted to do something I truly had passion for.”

Sigrún decided to hold a course for women, teaching them how to run an online course.

“The course went really well, but then I made a mistake,” says Sigrún, laughing.

What Sigrún says was missing was that she didn't have anything to sell following the free course.

“In the international market, you can't offer a course without having something free beforehand—something I actually often see done in Iceland.”

Sigrún says various things have changed in sales in recent times, not least after Covid. She does notice, however, that women who are offering, for example, knitting courses, crafting courses, or something practical seem to find it easiest to break through.

Love and Work

For an independent woman from Iceland, it was a shock to be unemployed while living with a man who earned very good wages.

“Martin didn't think it was a problem at all to support me, but I found it uncomfortable to be financially dependent on someone else. Being on paid sick leave actually felt better to me than being on unemployment benefits.”

Sigrún explains that there is a psychological difference.

Of course, there was a certain security in having a partner who was highly paid.

“But we were a new couple and still really getting to know each other,” says Sigrún, laughing.

Today, however, it is Sigrún who is the breadwinner.

“Martin lost his job in 2016 and hasn't returned to the job market since.

When he first lost his job, I thought to myself: I want to be able to do this. Now I want to be able to support him the way he supported me.”

Sigrún's business has done so well, however, that there's no reason for Martin to return to the job market.

“Because he often helps me and handles certain projects related to events and organization. Which of course means I regularly fire him and he regularly quits!” says Sigrún, highly amused.

“We actually have this rule that the relationship always comes first. Which means that if things start getting really strained, it's the relationship that takes priority over everything else.”

Work, however, tends to try to take over often.

“When we go out to dinner and suddenly realize we've started talking about work.

Then I have to stop and say: No, no, no. We're on a date right now and not discussing work.”

Martin lost his job in 2016 and hasn't returned to the job market since. Sigrún is now the breadwinner, and Martin handles various things for her. The rule, however, is that the relationship comes first.

In everything Sigrún says, it's clear that she considers it very important for women's empowerment that women are financially strong.

How do you feel then about being the breadwinner in your marriage; how is this for your partner?

“We've regularly discussed the possibility of Martin going to work for someone else. But then I always start thinking: Wait, then you can't come on vacation with me when I can get away. Or: Then you can't come with me on work-related trips,” Sigrún answers cheerfully, adding:

“It's our choice as a couple that Martin doesn't work for someone else. It simply suits us better that he handles certain projects for me and then he's just free in between and can play golf.”

Sigrún is excited about the times ahead, now that artificial intelligence has entered the picture. Her methodology of giving everything away first and selling afterward is an approach that works well with AI.

Artificial Intelligence and the Future

Sigrún says her methodology is essentially about giving away first—and then selling.

“In 2022, I published a book that can be accessed on Spotify and costs nothing. I remember wondering at the time whether I should really give everything away in one book, whether it would be bad for revenue,” says Sigrún.

“Now that artificial intelligence has arrived in full force, I couldn't be happier. Because AI can only utilize what has been published online. If nothing exists from you anywhere, there's simply a risk that you won't count. If something exists from you online, it gives you an advantage.”

In Sigrún's view, a changed worldview is manifesting itself in many ways now. Among other things, many sellers are finding it harder to sell now than before.

“For example, it's harder for some to sell online courses,” says Sigrún, explaining:

“During Covid, online courses of all kinds flourished. But sellers vary in quality, and if people have attended online courses they weren't satisfied with, it's understandable that they're cautious and not too eager to buy the next online course.”

Although this means a new challenge, Sigrún finds the times ahead very exciting.

“I see, for example, among my clients that women who offer online courses in some kind of handcraft or crafting are doing amazingly well. Knitting, sewing, crafting,” says Sigrún, listing even more examples.

“Because even though people have perhaps become more cautious and want to better evaluate whether, for example, a business coach like me is credible, it's as if people trust tangible things more. Signing up for a course where the goal is to sew a skirt is quite certainly going to result in you sewing a skirt.”

For women, Sigrún says the times are particularly exciting. They are a great group for creating online courses as extra income or as a full-time job. Women are also more likely to seek out online courses.

“Many women who are with me are women who are at home with children and have chosen the path of running online courses rather than going back into the job market. Likewise, the trend is that people prefer to attend courses and events online rather than driving long distances or flying.”

Sigrún says online courses are also a way to think big.

“In Iceland, an online course can allow you to reach clients from anywhere in the country. Those who want to think bigger can also choose to run their courses in English and reach a larger target audience.”

Sigrún says Icelanders shouldn't be shy about this.

“I've realized, for example, that many women who come to my courses are women who choose me specifically because I'm a ‘foreigner' like them,” says Sigrún, explaining:

“People absolutely shouldn't only advertise their courses in the United States or the UK, even if they choose to run courses in English.

These are saturated markets in English, while other markets often choose someone like me, who teaches in English without English being my native language.”

Family photo. Sigrún had been single for several years when she met Martin at a conference in London and decided to take the plunge and move to Switzerland. Something she certainly doesn't regret having done.

The Size That Matters

Sigrún says exciting and also challenging times lie ahead with artificial intelligence and changing consumer behavior. First and foremost, the present is about meeting the challenges that changing times call for.

“But I've also been wondering: How big a company do I want to create?” says Sigrún, adding:

“In 2021, I had to be away for six weeks due to illness, and in addition to that, I was in Tenerife for two months because my father was hospitalized. I couldn't work during that time, but the business continued and revenue only dropped by about 200,000 dollars.”

Sigrún says that in the aftermath, she decided that the current size of her company is possibly the size that suits her best.

“A few years ago, I had dreams of growing the company to a billion Icelandic króna in annual turnover — around €6.5 million — but after Covid, I've reconsidered that goal. I'm very content with 350–400 million króna in annual turnover and a lifestyle that allows Martin and me to do what we want to do. I currently have 20 full-time employees, but with artificial intelligence, I see that number decreasing.”

When Sigrún and Martin met, the stepsons were little, but now they've moved out, and the woman who couldn't find work and ended up on benefits has become the breadwinner, traveling in first class whenever the opportunity arises.

It's therefore quite clear that things are heading toward a more prosperous future for Sigrún compared to the aforementioned former Nissan CEO Carlos Ghosn. Because although Ghosn had given lectures at prestigious schools around the world and become a bestselling business book author, Ghosn was accused of financial crimes in Japan in 2018. A case that attracted worldwide attention at the time.

“I always imagined myself becoming an author. Because when I was six years old, we were assigned in school to write a story, and some were selected to be read on the radio,” says Sigrún, smiling.

“My story was chosen, and for me that was just the pinnacle. I was going to become an author.”

The childhood dream, however, didn't find support among the adults.

“The grown-ups were diligent about telling me that in Iceland, no one could live a decent life on an author's wages,” says Sigrún, laughing.

“Hopefully that has changed today with publishing opportunities abroad. But that's how it was then, and no doubt this practical consideration influenced why I chose architecture.”

In the end, though, it's up to us how we play the opportunities or challenges that life presents us with.

“I often say that the best thing that could have happened to me was losing my job at the medical company and becoming so ill that I had time to think: What do I want to do with my life? Having been a CEO and then ending up on unemployment benefits meant I had to swallow my pride,” says Sigrún, adding:

“And although I've made many mistakes, I often say: We women tend to overthink. We think so much that we end up thinking ourselves out of projects instead of just diving in and asking ourselves questions like: What do I want to do?”

“I suppose my short answer today is that my business is essentially about teaching women to take action.”