Conquering the Career Cliff: Navigating the Transition from Employee to Entrepreneur
Patricia A. Muir
Working with women business owners, micropreneurs, and executives. Programs include Executive Encore, Thrive After Cancer, WBO Quality Management Systems, and Supplier-Diversity Certification.
Stepping away from the sense of stability of a steady paycheque to start your own business is a bold and challenging choice. It requires courage and a deep belief in your abilities and the value of your skills and experience. Your success is deeply connected to your self-trust, resilience, and optimistic mindset. With careful planning and a thoughtful approach, the transition can be experienced with ease and grace.
This blog focuses on the first steps in building a solid foundation for both success and fulfillment.
Start with a New Mindset - The Entrepreneurial Mindset
Accountability: A character trait, a life stance, a willingness to own your actions and your results; regardless of the circumstances.
Commitment: Keeping promises with yourself builds integrity, self-esteem, self-trust, and success.
Greatness in the Moment: A discipline to do what you know you need to do even when - especially when - you don't feel like it. Results are not the essence of your greatness; your results are simply the confirmation of it.
Approach Goal-setting in a Different Way
Set Your "Best" Environment for Envisioning Your Future
Cultivate an environment that allows you to envision and experience what your life would be like when achieving a specific annual income or making a meaningful impact on countless lives.
Set Clear Goals Based on a Clear Vision
Define what being a successful entrepreneur means to you. Start with a clear vision. Honour your goals and respect yourself. Don’t treat these aspirations like fleeting New Year’s resolutions—80% of resolutions fail or are abandoned by February, and only 8% succeed throughout the year. This isn’t just about a one-year project; this is about remastering your life and work. It could be the rest of your life. It could be the life you dreamt of while you were an employee. Why wouldn’t you commit to the effort it takes to achieve something significant?
Dreams are imaginary. Goals are based on reality. ~Anonymous
You've likely heard this advice before, and there are countless ways to reflect on and express your Vision—whether through a vision board, a written plan, a list of SMART goals, or another method that resonates with you. Here's something different to think about...
Elevate from SMART to SMARTER Goals
Setting goals involves decoding your Vision and identifying manageable, actionable, executable, and measurable activities and steps. Practical goals are aligned with your Vision. Effective goals serve your life, work, and self. For entrepreneurs, the best goals are not only strategic but also inspiring and ambitious—pushing boundaries while remaining purposeful. Entrepreneurial goals are also "Exciting" and "Risky." (Think SmartER!)
Maintain a Financial Safety Net
By now, you’ve likely realized that true success isn’t measured by money alone. However, financial responsibility remains a cornerstone of entrepreneurship - personal and business success.
Most importantly, consult with qualified professionals to ensure your business is set up for success. Avoid the common mistakes of taking a DIY approach or relying on untrained friends or family for critical tasks such as governance, financial setup, or due diligence. When entrepreneurs tell me they can’t justify hiring an accountant, I always respond, “You cannot afford NOT to have one.”
Entrepreneurs have limited energy and resources, and a DIY approach to finances can leave them vulnerable to costly tax errors and audits. An accountant isn’t just an expense—it’s an investment in peace of mind and long-term success.
Expand and Strengthen Your Networks
Your personal and professional networks have become a unified, powerful resource and asset. Share your goals with trusted former colleagues, mentors, family, and friends. They can offer insights and connections and serve as supportive sounding boards. However, remember that you are the business owner, you are the decision-maker. Trust in your own judgment, seek guidance from qualified professionals, and follow your inner counsel. Strengthening your network requires careful discernment, identifying those who uplift and support you versus those who may hinder your growth.
Keep Growing Through Learning
Enhance your business skills by attending workshops, enrolling in online courses, or working with experienced business coaches. Focus on mastering essential areas like business development, mindset, sales and marketing, networking, time and energy management, efficiency, and the effective use of business tools. Always prioritize hiring experienced professionals with proven expertise over candidates lacking qualifications or credible references.
Connect with Fellow Women Entrepreneurs and Small Business Centers
Entrepreneurship isn’t about going it alone. The notion of "loneliness" in entrepreneurship is often a misconception, serving as a mask for deeper issues such as insecurity, a preference for transactional interactions, or a lack of effective networking skills. Building meaningful connections and relationships requires both effort and knowledge, plus personal integrity and commitment to mutual respect. Overcoming these challenges is key to thriving as an entrepreneur.
There are countless programs and peer advisory boards designed to help you build meaningful connections and relationships—whatever form that support may take for you. Seek out mentors, peer advisory boards, business accelerator organizations, and support systems that understand the unique challenges faced by aspiring women entrepreneurs.
Resources for Aspiring Entrepreneurs and Small Business Owners
Starting your small business may feel overwhelming, but countless resources can guide you along the way. Here are some to consider:
Business Mentorship Programs: Organizations like Boundless Accelerator, PARO, Futurpreneur Canada, Coralus (formerly SheEO), and WEConnect International in Canada offer mentorship and leadership coaching for women entrepreneurs from start-up to scale-up. In the United States, organizations like NAWBO, the Women's Business Center Network, SBDC, SCORE, DreamBuilder, and Women's Venture Fund provide comparable support and resources.
Peer Advisory Boards: The following is a brief snapshot of the support available as of February 2025 in Canada and the US. Many peer advisory boards are global. Keep in mind that this list is constantly evolving, expanding, and adapting. If your favourite isn’t included, my apologies—it’s likely just one of many yet to be listed.
Join organizations or online communities specifically aimed at women entrepreneurs. These networks double as sources of inspiration, collaboration, and encouragement.
Navigate the Transition to Entrepreneurship: Conquer the Career Cliff
The career cliff might seem daunting, but it’s not the end—it’s the start of something remarkable. It’s your opportunity to transform your expertise, passions, and vision into something extraordinary.
Every successful entrepreneur I know started with a single step. What will yours be?
Whether you’re still exploring ideas or ready to launch your dream business, the journey starts with one essential commitment: believing in yourself. Many of my video podcast guests and others have shown that the career cliff isn’t a fall—it’s a launchpad.
Next Step - Call to Action
Ready to take the leap? Let’s talk. Your next chapter is waiting.
Schedule a call with me so that you can start your journey and do it differently, aligned with your aspirations and needs.
Schedule an Executive Encore Complimentary Call. Ask and learn about the two-hour program Master Your Approach to Goal Setting for Transition from Employee to Entrepreneur.