Write a rejection letter for a job position as the applicant.
I assume you mean the applicant is about to reject the job. Here it is:

Dear [Hiring Manager],

Thank you for considering my application for the [Job Position] role at [Company Name]. I appreciate the time and effort you and your team have invested in reviewing my qualifications and experience.

After careful consideration, I have decided to withdraw my application for the position. While I was excited about the opportunity to join your team and contribute to your organization, I was inspired by friends and decided to start my own business.

Please accept my apologies for any inconvenience this may cause, and please convey my gratitude to the rest of the team for their time and consideration. I would like to take this opportunity to express my admiration for the work that you are doing at [Company Name], and I hope that our paths may cross again in the future.

Thank you again for your time and consideration.

Sincerely,
[Your Name]
Make it a bit less formal, please. I want to come off as a professional, but not stoic.
Sure, here's a slightly less formal version that still maintains a professional tone:

Dear [Hiring Manager],

Thank you so much for taking the time to consider me for the [Job Position] role at [Company Name]. I appreciate the opportunity to have gotten to know your team and learn more about the organization.

After much thought and consideration, I have decided to withdraw my application for the position. Although I was impressed by the work being done at [Company Name], I have decided to pursue another opportunity that aligns more closely with my personal and professional goals.

I wanted to express my appreciation for the time and consideration you and your team have given me. I hope that we can keep in touch and that our paths may cross again in the future.

Thank you again for your time and all the best to you and your team.

Sincerely,
[Your Name]
Their name is John Doe and they applied to work at RealCompany. Put that into the document for me please