Changing Careers - Part II

After my first post on this subject some time ago I got some very positive feedback and more recently I heard that I had inspired someone which made me want to write a follow up. I really hope though that I did not result in anyone jumping ship whilst not quite being ready. Because of the positive feedback I decided that I would write this so that people could have a realistic rather than romantic image of being your own boss. Firstly let me clear this up, you are never your own boss. Today instead of reporting to anyone in particular, my bosses are my clients, because they are the ones who pay my overheads. Another really important note to anyone thinking of starting up on their own is that the idea of more freedom to do what you want is a myth. The fact of the matter is that as an employee you are contracted to work certain hours and after that you are free. As a business owner you truly never switch off. Recently, on a trip I was referred to as a workaholic because any free moment I got my laptop was open, I was preparing reports, researching and replying to emails. The big difference is that I do this today without any sense of obligation. I do this because I truly want to do it, I want to provide the level of service I expect from my suppliers and I want people to talk about my business as being responsive, efficient and reliable. So there is a difference between feeling obliged to work and feeling inspired to work. I am now 10 months into a new industry and a new business and as I said before there still hasn’t been a single day that I have regretted my move. I would be lying if I said all the time has been sunshine and roses but the roller coaster itself is what keeps things really exciting. The challenge of having a vision and a path to achieving that vision being in your hands and relying on your own ability to motivate your team to achieve the vision is the kind of seat of your pants stuff that makes life so much more interesting. After the last post somebody commented that changing industry was raising the bar too high and I totally respect that viewpoint but I must say that anyone coming from a technical background will soon realise that in achieving seniority in their field they had already leaped above a very high bar and in moving into a service business, though the bar is different it certainly is not unattainable.  So what have I learnt over the last 10 months that anyone considering such a move should think about:

• There is no hiding place - In a large business it is too easy to hide from decision making or from the limelight. I would actually suggest that anyone in a big business who feels it necessary to hide probably shouldn’t consider starting their own business anyway, but if they do, they should know this. The buck stops with you.
• Be ready to make tough decisions – Remember that this is a business and it is sometimes difficult to make employee related decisions because the team is so small and the morale effect is so big. You have to keep in your head that the decisions you make are for the best for the business and sometimes that means you have to be ruthless. Business ownership is not for the lighthearted.
• You have responsibilities that you never considered – Anyone who sits back and thinks about it realises that in a small business you have families who are not your own, relying on your success. Your employees rely on their monthly salaries and that puts an added pressure on a small business owner to make sure the business is managed effectively. Otherwise you’re dipping further into your savings and you want to avoid that where possible. Don’t get me wrong this is the same in a big business but you feel it more in a small business.
• Don’t take knock backs personally – Certainly in this business losing pitches to competitors happens and you just have to suck it up and move on to the next opportunity. The employee who phones in sick probably is genuinely sick and I must say sometimes for me it’s hard to get my head around the fact that no matter how much you motivate or incentivise they will never be as invested in this business as you are. For them this is a job, for you this is your investment in terms of time and money, you need to get that!
• Be prepared to sacrifice – I had to miss my daughters first birthday because I had to do a pitch in the Seychelles. Of course you have to do what you can to make these things up but this is just a single example of multiple sacrifices I have had to make this year. I try very hard to get home every night before the kids go to bed but that isn’t always realistic. Also financially you should be prepared to make sacrifices today as you are gambling on your own ability to get a better return later.
• Finally, have a vision – One comment made on the last post said you should start with the end in mind. This was a great piece of advice. You need to think about what success looks like and strive to achieve it, I would also add to that that you should break this up into what success looks like this month, what success looks like this year and what success looks like in 5 years. That way you can feel the small successes and you have the feeling of moving forward. You also need to keep moving the goal posts. The image of success should be flexible so that you don’t rest on your laurels once you’ve achieved what you wanted.

My experiences over the last 10 months have truly been interesting, new and exciting and I hope that these posts are showing people the true story of being a business owner. I definitely don’t want everyone to jump ship and go for it on their own but for those that do I hope my experiences can help you be prepared.