Are you one of the people who aspire to leave the confines of a corporate or government job and run their own small businesses?
If so, what are the barriers preventing you from doing so?
Sometimes those constraints revolve around the need for a paycheck, along with an aversion to risk. It is possible for you to shift to the life of your dreams, but it may not be easy, and certainly will not happen overnight.
You must take a strategic approach to a major life transition such as this.
What is Your Compelling “why” for Aspiring to be a Business Owner?
Making a leap to the life of a small business owner or entrepreneur is easier if we can imagine a compelling why. Have you read the book Start With Why by Simon Sinek? If you haven’t, I encourage you to do so. You should also view a few of the videos about the book.
Take some time to reflect on your “why” and what motivates you.
- What is the “burning idea” or desire related to a business that is frequently on your mind?
- Why do you want to start the business?
- Is it to gain more control of your time, or to control your own destiny as opposed to allowing others to?
We live during a time in history when choices are somewhat limitless if you are prepared and willing to take necessary risks to become a business owner.
There is Risk Involved in Staying, as Well as Leaving
There is risk with starting and running your own business. There is also risk associated with full-time employment.
We’ve seen this both prior to and during COVID. We are constantly hearing about companies severing large numbers of people. You may have experienced a job loss or you may currently be in a situation where you consider yourself “safe.” Know this could change in a minute.
Goal Setting is Critical for Shifting Successfully
To transition, it is important to understand your purpose, create a vision and mission, and then set goals with action steps.
You should also establish timelines for the actions you commit to taking. If you don’t, the likelihood is that you will remain stuck where you are.
Begin Where You are and Do it Now
- Develop a business plan while still working for a paycheck and seek opportunities to test out your business idea. Some people moonlight. They take a part-time job in the industry in which they are interested, or they create a “side hustle.”
- Think and act like an entrepreneur as you work in your current job. This has been referred to as intrapreneurship.
- Network with others who are running a business similar to the one you are considering. Networking widely will allow you to build relationships that will help when you transition.
- If you don’t have a financial plan, partner with a fee-only financial advisor and have a plan developed. Make it a priority to be disciplined about saving your money and executing your plan with a transition in mind.
- Hire a business or life coach to help you build your plan.
As you take these steps, you will build confidence and become more excited about the possibilities before you. I heard someone say, “If you don’t start your own business, you will spend the majority of your life working for someone who did.”
Moving from a paycheck mentality to a life as an entrepreneur is not easy, but it is possible if you take a strategic approach and shift from dreaming to taking action.
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