3 Things to Consider When Choosing to Break The Corporate Handcuffs

Are you a professional who finds yourself trapped in the corporate world, bound by golden handcuffs? Breaking free from this corporate confinement can create a whole new world of possibilities. This article will cover three important factors to consider when breaking the corporate handcuffs: opportunity cost, time freedom, and push vs pull reasons.

1. Opportunity Cost: When contemplating a departure from the corporate world, it's crucial to weigh the opportunity cost. This refers to the potential benefits and gains you might miss out on by staying within the corporate structure. Consider the personal growth, independence, and fulfillment that may come from pursuing your passions outside the corporate environment. Assess the long-term costs of sacrificing your dreams and aspirations for the financial security and comfort of a corporate job.

"Sandy" is a coach who works for an organization working 40 hours a week doing what she loves but she realizes that the pay she earns is less than creating one paying client a month.

She was worried about losing her $3000 a month secure income but inside there was a feeling that controlling her financial destiny was more important than the security of a pay check.

I encouraged her to focus on facts and not emotion. The fact was that she charged $3000 for her services. In order to replace her salary her game was to create one client a month. Her monthly plan was to create 4 enrolment conversations (one a week) with people that have a problem she can solve and invite them to work with her to solve that problem. She leveraged her network and had her first $10k month as a result.

Sometimes the stories we create in our mind about the "work" it is going to take to create revenue in business stops us from trying in the first place. The industry has you believe that marketing and funnels and automations are necessary in order to be successful. In the beginning, that is not the case. Simple conversations and a network is all you need to get started.

2. Time Freedom: One of the most significant advantages of breaking the corporate handcuffs is gaining control over your time. Time freedom allows you to allocate your most valuable resource, your time, as you see fit. While corporate jobs often come with demanding schedules and limited flexibility, transitioning to a more independent career path grants the freedom to design your own work schedule and prioritize personal and family commitments. The ability to dictate how you spend your time can contribute to a healthier work-life balance and overall well-being. Ask yourself this question: What could I create with 40 hours a week to create my dream instead of someone else's?

"Angie" was a coach that I worked with who had 30 years of experience in the corporate space. For her, money was not a factor in her reasons for leaving her corporate job. Her husband was retired and she was financially secure. She wanted to create a boutique coaching business where she could leverage her life experiences and expertise but didn't want to trade time for money. She wanted to work 4 hours a day and feel fulfilled knowing that she wasn't leaving the world without giving away her knowledge and expertise.

Angie had no idea that the experiences she had in corporate were super valuable for organizations and she focused her efforts on reaching out to mid sized companies in her city. She built relationships with people and gave value through workshops which opened doors to working with the leaders in the company. She secured high end contracts working less than 4 hours a week.

Yes it took time to build those relationships but she never saw it as work. She woke up every day committed to leveraging her expertise and having conversations with people that could open doors for her and the doors opened quickly.

3. Push vs Pull Reasons: It's essential to assess your motives and reasons for wanting to leave the corporate world. However, relying solely on push reasons may result in a reactive decision-making process rather than a thoughtful and strategic transition.

It is equally important to develop pull reasons, which are the positive factors that attract you towards a new path. Pull reasons can include the freedom of time, pursuing your passions, making a meaningful impact, and finding true fulfillment. Having pull reasons makes the transition process more effortless and sustainable, as it becomes a journey driven by intrinsic motivation and joy.

"Sara" was a coach I worked with that left corporate due to burnout. When she left she thought it was the toxic work environment she was leaving behind but what she created was a business that left her feeling even more burned out.

What she didn't realize is that the situations that contributed to the burnout were actually fuelled by her lack of personal awareness. She was running from corporate but didn't see the internal shifts she needed to make in order to not produce the same results in business.

Sara was unwilling to look within and look for patterns in her habits and behaviours and ended up quitting coaching and going back to the security of her job. She also ended up in another "toxic" situation.

We can learn from her story and see why 82% of coaching businesses fail in the first 5 years. Breaking free from the corporate handcuffs is an empowering decision that requires careful consideration. Not everyone is wired to be an entrepreneur. Not everyone is cut out to be a coach.

With a proven track record of success in corporate, you can transfer those skills to your own business.

The question becomes this: Are you willing to put yourself out there and play full out to create it?

If you answered "Absolutely I am" then let's have a conversation so that I can support you to avoid the pitfalls that many professionals make when transitioning to becoming entrepreneurs and building their own boutique coaching/consulting businesses.

"Tina, I want to leverage my corporate experiences to grow a Boutique Coaching Business in 90 Days or Less show me how."

Not quite ready to commit to growing a business but you want to learn what it's going to take? Come to my free workshop so I can help you create a roadmap to get you started.

"How to Create a Boutique Coaching Business in 90 Days or Less" Free Workshop for professionals wanting to grow a business without ads, funnels or tech set up.

See you soon

Tina