Making that step to become an entrepreneur can be one of the scariest decisions in your career. It’s taking that step from being an employee to an employer.
The first question you ask yourself is…
How exactly do you transition from being an employee to a business?
Well, there are 2 types of people in the world.
The first are those that are happy working 9am to 5pm and coming home at the end of the day, repeating the process until they retire at the age of 65+. This is when they begin their life out of full time work.
The second type are those that are wanting more flexibility in their lives. They are looking for freedom in their day, flexibility on their work and schedule, creating the life that they want and making their own work decision. It’s those that make the days count, instead of counting the days.
If the second type sounds like you? Read the next 3 tips to taking that step to coming out of full time employment.
What You Need To Get You Started
When you first start a business, it’s important that you have the capital and cash flow to keep the business running until you build your client list. There is no point giving up your job and jumping head first, only to realise after 2 months that you’ve run out of money! It’s crucial that you give your and yourself the business the chance it deserves.
Start Your Business Part Time
Starting your business part time, allows for the reassurance of the salary coming in every month, while you get the business setup and start to find your first clients.
This, of course, means that you’ll be working overtime, late at night and at weekends. If you set yourself daily, weekly and monthly goals to achieve all the tasks to get your business setup, then this makes the thought of working extra hours easier to process.
If you don’t like hard work and this doesn’t sound appealing to you, then you shouldn’t start a business. If you want your business to succeed and for you to live the life that you have always wanted, then you have to put in the hard work at the beginning. It will pay off.
Learn, Learn and Learn Some More!
If your new business on outside of your current knowledge base, you have to get some experience before you take the leap to setup a business. If it’s already in your current field, then you’ve got a great head start!
People go to university for 4 – 6 years to learn the skills in their chosen field, and they pay to go too! Spending 6 months studying in your new business field is nothing in comparison.
How do you get experience in the field?
- Find a leader in the same field and ask them. Send them an email and ask them for tips and tricks, and how they got into it.
- Find a course on that field, whether it’s classroom or online. Spend you’re nights and weekends studying and ups killing yourself.
- Make that investment into yourself and your future.
- Read and listen. Find books and blog posts in that niche and listen to podcasts about setting up business.
- Find a Business mentor.
- Attend free workshops in your local area or on FaceBook in your niche.
- Immerse yourself in the community of that niche.
- Take time to plan and set your goals in your learning.
It’s right what they say – 80% of all new businesses fail within the first 5 years.
EXCEPT – 65% of all new businesses succeed if the person was already in that industry.
If you’re serious about changing your life and setting up a new business, you need to be prepared to work and admit to yourself that you don’t know everything.
Your business isn’t going to take off overnight, by taking a step back and seeing your process as a slow and steady investment in your future.
To Learn More:
Check out these books I’ve read from my library, that helped me get started!