5 Common Fears Facing Leaders Leaving the Public Sector to Start their Own Businesses

If you had told me 7 years ago that not only would I be running my own business but that within 3 years of starting my business I would have been named as one of Britain’s Top 50 Business Advisers, I would have laughed in your face.

You see, I spent my entire career working in the public sector, the civil service to be exact.  Starting out in one of the most junior roles, progressing to senior manager, I thought I was going to be there until I retired.

But it all changed in 2010.  The austerity measures introduced by the then coalition government saw public sector jobs being cut like never before. Rather than stick around for the golden clock, I made a decision to take voluntary redundancy and leave after almost 28 years to start my own business.

Some people thought I must have been going through a midlife crisis to be leaving the organisation I had worked in for so long at this time of my life, and not only that, to start my own business as well.

Whilst starting my business had its ups and downs as I navigated through the many challenges, it is a decision that I do not regret.

I have learnt many lessons on this entrepreneurial journey and discovered skills I didn’t even know I had (one being my love for writing).  I have also been able to bring many skills gained as a leader in the public sector and apply them in my business (all that leadership development over the years paid off!).

If you are a leader in the public sector thinking of taking the plunge to start your own business, I would like to share 5 must knows about the fear of making this change that will hopefully help you short cut some of the lessons I learnt and that I help my clients to avoid.

     1.  Who am I?

Many of us let our roles define who we are and when you’ve been part of an establishment for many years like I had been, in some ways you become institutionalised.  I will never forget that sense of loss as to who I was that I felt in the early days transitioning to get my business started.

During the period of leaving work and before starting my business, I would go to networking events and when asked what do you do, having become so used to introducing myself in my previous role, not yet confidently able to articulate what it was I was in the process of going to do, it felt like, oh, what do I do? It felt as if I had lost a part of who I was.

If you’ve been ‘institutionalised’, don’t be surprised if you feel a sense of loss as to who you are but remember, the role doesn’t maketh the man.

     2.  I’ll end up broke

Going from the relative security of your monthly pay cheque to the insecurity of not knowing when you’re next going to get paid, or doing work but having to wait 60 days for payment because of contractual terms, can leave you anxious at times, wondering how you’re going to pay the bills.

If you are leaving on a redundancy package, whilst it may seem like a decent amount, by the time you pay out your day to day living expenses, support children through their higher education etc, it is surprising how quickly it goes. Invest it wisely and spend it prudently.

It may take a while before you start to see regular income coming in so have a backup plan to help you out during those dry spells.

     3.  New kid on the block

Remember back in the day when you made the transition from junior school to high school and felt like a fish out of water?  Having gone from ruling the roost to being last in the pecking order, that’s a bit like how it feels when you put yourself out there in the big wide world to start your business.

You’ve got to start from scratch.  Building your name, building your credibility and building your reputation.  It may feel a bit lonely at first and you may feel apprehensive about putting yourself out there.

But, just like you eventually came to rule the roost at high school, or just how you managed to establish yourself as a respected leader in the public sector, you can also do the same in the business world.

Tap into your existing connections and start building your network before you leave your job.

     4.  Sales is a dirty word

Do your thoughts about sales people conjure up images of used car salesmen trying to flog a ringer?  Does the idea of having to sell your service make your stomach churn?

The fear of selling is a biggie for a lot of people starting out in business, not only those from the public sector but the private and not for profit sectors as well.  Many people find it easier to sell a product than they do themselves as a service. 

Selling yourself as a service may make you feel vulnerable due to a fear of rejection.  But remember, if you have done your research and identified that there is a demand for what you have to offer, people need what you are selling.  Take the focus off you and put it on how much what you have to offer will benefit someone else. 

Not everyone will like or need what you have to offer and that is ok.  Some will want it and some won’t.  It is a matter of finding those that do.

     5.  I won’t succeed

Stepping out into new territories of the unknown can be very scary.  It is that fear of the unknown that causes us to feel insecure.  We like to be in control of our circumstances and when we can’t see what the end result looks like, we panic.  When we feel insecure we are more likely to believe that we won’t survive.

We are incredibly resourceful beings and when faced with challenging situations, we have it within us to develop the resilience to get through.

Rather than focusing on what if I fail, what about, what if you succeed?

Think back over your entire life at situations that you were fearful of.  Situations where you thought you were going to fail but you went ahead and did it.  You got through it and lived to tell the tale.  What can you draw on from those experiences to apply to your situation now?

You did it before, you can do it now.

Making that leap from a long public sector career to start your own business is scary.  It is challenging, full of uncertainties and obstacles.  It is also very rewarding and could be the best thing you’ve ever done.  And if you don’t do it, you will never know.

Are you about to make that leap or thinking about it, if so, what fears are going on for you?

If you’ve done it and got through it, what were your fears and what did you do to overcome them?

ABOUT ME:

I am a Personal Development, Career, Business Coach, Writer, Speaker, UK top 50 Business Adviser and the founder of Abounding Solutions. I help women to be authentic, bold, confident leaders  and excel in their careers and businesses. I also help organisations develop the talent pipeline of women employees so that more women make it to senior management roles.

I write here on LinkedIn, on my website and on Huffington Post on subjects to help women achieve optimal potential in their careers and businesses.

Are your fears getting in the way of you making changes that you want to make? Are you getting in the way of you?  If so, join in The 30 Day Mind Cleanse starting on 2 May 2016. For 30 days I will challenge you to take action that will help you stay focused, stay motivated, stop procrastinating, take action and get results.

It is free to take part and Women can join the 30 day challenge in my High Achieving Women Facebook group here. For the men who want to take part and women who want the daily challenges emailed to them, sign up here.