All Employees Are Entrepreneurs: Many Just Don’t Know It

6 Steps For Starting a Successful Side-Hustle

Think about it — your employer isn’t paying you for your dazzling smile or your rocking body. No, they’re paying you for your skill and the value you bring to their company. And guess what? That skill set is valuable and not exclusive to your current employer. Other people and organizations need those same skills.

So, think of yourself as a business called You Inc. Your employer is just one customer, but if you start a business with all the skills you have, you can serve several people with the same skill. Ultimately, you can scale your business by leveraging the internet and the connections?you?have?built?already.

I know this firsthand because, in 2019, I bid farewell to my corporate job and became a freelancer, building a business around my skills and passions. And let me tell you, it's been a game-changer!

Feeling stuck in a job that is draining your energy and not fulfilling your needs? It’s time to take charge and start building the life you truly want.

So let’s dive in and explore how you can leverage your skills and experience to launch your successful entrepreneurial venture?— while still employed.

Identifying Transferable Skills

As an employee, you gain a range of valuable skills and experience through your work, including project management, communication, problem-solving, time management, leadership, and more. These skills are transferable to various entrepreneurial ventures and can give you a significant edge when starting your own business.

For example, if you work in a project management role, you may have honed your skills in planning, organization, and team coordination. These skills can be applied to launching and running your own business, as you'll need to manage timelines, delegate tasks, and ensure that all aspects of your business are moving forward in sync.

Similarly, if you work in a customer-facing role such as sales or customer service, you likely have developed excellent communication and interpersonal skills. These skills are critical for networking, building relationships with clients, and creating a strong brand reputation for your business.

Many successful entrepreneurs have leveraged their work experience to launch and grow their businesses.

For instance, Brian Chesky, the co-founder of Airbnb, worked as a designer at a startup before launching his venture. He used his design skills to create a compelling user experience for Airbnb, which helped the company stand out in the competitive travel industry.

Here are some other examples of transferable skills:

• Writing
• Selling
• Coding
• Designing
• Presenting
• Organizing
• Making sense of data.

All the above skills are transferrable skills.

So, whether you work in a corporate job or a more traditional field, there are valuable skills and experiences that you can transfer to your entrepreneurial ventures.

The first practical step I took in 2019 was to list all the skills I possessed vis-a-vis the value I delivered to my precious employers using those skills. And perhaps there may still be other problems you can solve with a combination of some of the skills you possess.

List them all. You’re gradually drilling down into identifying a stand-out business idea you can start, one that solves a definite problem utilising the skills you already possess.

Now, let’s deal with a common enemy that stops most employees from starting a business.

Overcoming the Employee Mindset

Many employees dream of starting their businesses but often struggle to leap due to various challenges and fears. These may include a lack of time or resources, a fear of failure, and a reluctance to take risks.

Lack of Time

One of the biggest obstacles to starting a business while employed is finding the time to pursue it. After all, most employees have demanding schedules and responsibilities that take up a significant portion of their day.

However, with effective time management strategies and prioritization, it is possible to carve out time for your entrepreneurial pursuits. This may mean waking up earlier, working on your business during weekends, or outsourcing tasks that can free up your time.

Fear of Failure

Another common fear that holds employees back from starting a business is the fear of failure. After all, starting a business involves taking risks and stepping outside of your comfort zone.

However, reframing failure as a learning opportunity can help you overcome this fear and push past your limits. Rather than seeing failure as a personal setback, view it as a chance to learn, grow, and improve your business.

Finally, seeking mentorship or support can be invaluable in helping you overcome the challenges of starting a business while employed. This may mean finding a mentor who has experience in your industry, joining a networking group or mastermind, or seeking out a supportive community of fellow entrepreneurs who can provide guidance, advice, and encouragement.

Actionable Steps

If you’re ready to start building your own business while still employed, here are some practical steps you can take as soon as you’re done with this article.

• Identify your skills: Take inventory of the skills you currently use in your job, and consider how you can apply them to your business venture.
• Develop a plan: Create a business plan that outlines your goals, target audience, marketing strategies, and financial projections.
• Build your brand: Develop a strong brand identity for your business, including a logo, website, and social media presence.
• Network: Build relationships with other entrepreneurs, potential customers, and industry experts to gain insights, support, and potential business opportunities. You may also want to consider partnering with somebody/people who have skills required for the success of the business?— skills that you do not possess, such as marketing, sales, etc. I recently did this for one of my businesses.
• Manage your time: Balancing a full-time job and a side business can be challenging, so manage your time effectively by setting clear boundaries, prioritizing tasks, and scheduling dedicated work time for your venture.
• Seek mentorship: Find a mentor who can guide you through the process of building your own business and provide valuable advice and support. If you need one, this writer has at least a decade of experience both as an employee and an entrepreneur. Feel free to reach out.

Wrapping Up

Remember, the skills you already possess and use for your current employers may be all you need to build your own business. If in any case there are other skills you still need, life is all about learning and developing yourself. So, start learning. And while all of these ideas may seem overwhelming, with the right mindset and the practical steps discussed, you can turn those skills and experiences of yours into a successful personal venture. I know this firsthand because today I have a 7-figure business and it all began with the same ideas I shared with you in this article.