OUR ENTREPRENEUR DIARIES| BEING AN ENTREPRENEURIAL EMPLOYEE
Are you still working in a 9 – 5 but you have big dreams to run your own successful business?
Running a business around full time employment is not easy but before you take the leap of faith to go full time into your business, you should always remain cautious and ensure that you have enough savings to keep you afloat for a while.
I recently met a very lovely and extremely inspiring lady called Valerie in a coffee shop. We had connected on Facebook and instantly clicked.
Valerie runs a quite a lucrative wedding planning business and went full time into her business in the Summer of last year. Life could not be any better for her. She had been working this business tirelessly around full time employment and two children. During this time, it had been a real struggle for her but she always had her eye on the end prize and that is what kept her going throughout.
She told me that she had the set date firmly fixed on her vision boards – 1st July 2016 as to when she wanted to go full time into entrepreneurship this year. Every bone in her body was willed on and excited as when the day hits – that is the day when the next chapter of her life begins. It is the day that she had set herself up to for a while The day that she was going to become the master of her own time and can fulfil that time doing what she truly loved doing.
She revealed that the journey was not an easy one. Your desire needs to be strong. As this is going to effectively become a life changing moment in your life. Your decision needs to be firmed up in your head. Your thoughts need to be focused and your mind needs to be absolutely clear about achieving this end goal.
She advised that it is entirely possible for each one of us but you have to have a plan in place before you leave. It is not about flipping over a desk whilst screaming “I QUIT”, as most have probably considered doing the day you leave your 9 – 5. You have to be smart and build yourself up both mentally, physically and financially to the point of when YOU START LIVING A LIFE DESIGNED BY YOU.
Valerie left me with these nuggets of advice, which I want to pass on to you all today. Take note:
You need to be able to measure your desire to change – You have it set in your mind that you have had enough and that you deserve to go after what you want. This has got to be more than just a bad day in the office (unless every day is like this!) Do you literally get mad at the entire world when you pull up to the doors to your workplace? !f so, you may want to weigh your options and make some changes. Most people don’t make a change for themselves until it gets to the point that they don’t even have another option. Don’t let it get that far. Repair your roof while the sun is still shining.
You need to give yourself a realistic time frame – Carefully prepare your exit strategy and give yourself a clear enough lead up time to leave, which includes having some financial support behind us as we have other commitments like family, mortgage etc.
You need to evaluate your outgoings including bills, expenses and live on budget – In order to hot foot into your business, I would definitely advise get your business up and running to the point where your monthly business income matches that of your 9 – 5. This way you can get used to feeling what it would be like if your job income were to go away. Try and get it to the point for at least 6 months before saying “bye bye” to the 9 – 5. Sit down with all of your bills and expenses. Calculate how much money you are spending on a monthly basis, figure out what items you can cut, and create a budget.
You need to run your business in your lunch break – and during bathroom breaks, during your commute to and from your job, after the kiddies go to bed, etc. Anytime we have some down time, we make those calls, send and reply to emails, host conference calls, sold products and made deliveries and everything. You are going to have to work double time to accomplish this (which won’t feel like extra work if it’s something that you love doing, right?). You’ll also need to have great time management skills and a planner.
You need to invest in yourself and your dream – Once your income starts to increase by working both your job and your business, it’s time to allocate the funds where you need them. Invest in you. Take classes, attend workshops, read more books, etc. Do these things to help you to become a better entrepreneur and to also mentally prepare yourself to ‘fire your boss. You can also invest in products, inventory, etc. Whatever you need to pursue your dreams.
Making the shift from employee to entrepreneur is a large feat, but with proper planning and education, you can do it!
Our ultimate aim is to do whatever we can to live a happy life and pursue our dreams. Don’t fall into the category of regretful people who wish they could do something, but just don’t. Have faith.
Valerie like me truly believes that we were all put on this earth with a specific purpose. Go after what is promised to you. Will it be hard? Maybe. But it will be absolutely worth it.
I would just like to shout out Valerie and wish her well as she continues to grow in her business.