Here's how you can navigate the challenges of transitioning from a corporate career to entrepreneurship.

Unless you have an incredible passion for the concept behind the startup, the market the startup is targeting, and believe in the others involved, you're in a very risky position. It's the passion and belief that will carry you through the guaranteed tough times. The only reason that there can a big upside to a startup is the inherent risk. If it was a sure thing, everyone would do it. You will spend more time than you ever imagined working. You need to be a fast learner. All that support you have in a corporate world doesn't exist in the startup. There is no one to hand things off to that need to be done. Forget days off. If you have trouble handling stress, you will really struggle. If you are built for risk, it's addictive.

Self-Assessment and Planning 1. Evaluate Your Skills and Interests: Assess the skills and experiences you've gained in your corporate career and how they can be applied to your entrepreneurial venture. For me I knew I had lost interest in the career - however the skills are a part of who I am , so I use some of those skills in my decision making as an Entreprenuer. 2. Identify Your Passion: Ensure that your business idea aligns with your interests and passions. This will keep you motivated during tough times. While I struggled with this , as my interest required alot of capital then I set Clear Goals on how to get there. Define what you want to achieve with your business in both the short term and long term.

You need to have a source of funds to pay the bills while you build the company. That means a partner with an income, investments, or enough savings to live without additional income for more than a year. The idea that 2 months from now your business will replace that corporate paycheck is an illusion. Learn everything you can about the business you want to launch, market, legal landscape, licensing, facilities, outside services needed. Getting a license, legal work, location, can all take more time than you thought and more money. Don't start this process after you leave that steady paycheck. Nights and weekends are yours, invest in yourself. Check non-competes and understand if you have any issues.

No advice is more important that this: unless you have to spend that dollar to move the business forward, don't spend it. Cash is very hard to get and easy to waste. I've watched a thriving business die in a short time because the owner wanted a bigger office, better location, more prestigious image. None of his clients cared, but his ego killed the business. He took on so much in debt and expense run rate the business failed. Build a worst case, likely, best case forecast and manage finances early based on the worst case. Within a short period of time, you will know which of the three you are actually tracking. Be optimistic but prudent.