How to gracefully shift into entrepreneurship

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Over the past two years, a lot of people started rethinking what they wanted out of their careers, and life overall. That’s why over 33 million individuals have left their jobs over the past year in a seismic shift called the Great Resignation , to pursue greener pastures at other companies or take a pause after extensive burnout.?

As part of this self-reflection process, some people are considering leaving corporate life completely to become an entrepreneur. Hey, I get it. Most of my early career was spent working in corporate jobs, then I owned a public relations firm for more than a decade before deciding, happily, to return to a corporate job in 2014.?It’s all about moving towards more fulfillment in your professional life as you change and grow.?

One of the greatest challenges holding people back from making this kind of leap is knowing how to do it. Read on for some great advice from experts about how to gracefully leave a corporate job for life as an entrepreneur.?

You got this!

Regards,

Shira

How to gracefully shift into entrepreneurship

Corporate life has been skewered numerous times in pop culture. Sometimes that’s done gently, as in The Office or 30 Rock, and other times on full tilt, like in The Big Short, Office Space, and 9 to 5 (try getting that delightful Dolly Parton theme song out of your head now).?

Those comedic tropes aside, most people are perfectly content to stay on someone else’s payroll for their entire career. However, a desire for greater professional freedom in our post-pandemic world has prompted more individuals to consider being their own boss.?

In fact, QuickBooks projects that as many as 17 million new small businesses could be set up in 2022. A survey they commissioned in November 2021 revealed that almost three out of five (57%) U.S. employees want to start a business and of these, one in five (20%) will make the leap in 2022.?

Do some quick math and you’ll see that a large percentage of people who were dreaming about being self-employed don’t do it. Why? The answers range from the fear of not having a regular paycheck and no clear focus about the kind of business they’d own to not having a clue about how to transition from a corporate job into being self-employed. If that’s holding you back, remember that you don’t have to make a big leap all at once. Here are three ways to gracefully – and gradually – shift into entrepreneurship:

Start a Side Hustle?

Want to test out an idea for a business? Start a side hustle while you still have another job to determine if its viable. It has become increasingly common to pursue additional sources of income beyond your primary job; a recent Zapier survey conducted by Harris Poll found that one-third of Americans (34%) currently have a side hustle.?

As branding expert and bestselling author Dorie Clark notes in this Harvard Business Review article, “For many professionals, a side hustle is the perfect way to develop new skills, explore professional passions, and develop new income streams.”

For example, maybe you work as an office manager each day, but your passion is planning children’s parties. Think about what you’d charge for those services and start planning events for kids a couple of times a month. Do you still enjoy it now that it has become a paying venture? Could you make your desired income with this as your main gig? Testing your idea in this manner let’s you refine the concept and see what’s possible. And if it doesn’t work, then you can try something else out while still having the safety net of your day job.??

Plan Your Transition

The thought of starting your own business after working a long-time corporate gig can feel overwhelming. However, advance planning can go a long way in promoting an effective transition into?entrepreneur life.?

Jeffrey Shaw , self-employed strategist, speaker, and the author of The Self-Employed Life: Business and Personal Development Strategies That Create Sustainable Success, recommends that you ideally start planning this transition 12 months in advance, and have at least 18 months of salary in reserves. He has created a complimentary, step-by-step timeline to help facilitate that process that can be accessed here .?

“We go into business for ourselves to control our future but enter into what seems like completely uncontrollable circumstances. So many different types of people to serve, the ups and downs of the economy and the occasional crisis in the world,” said Shaw. “Yet you can have far more control over your business than you previously thought and learn how to manage what you can’t control so that it doesn’t derail you.”

Get Support

When it comes to your area of expertise, you crush it. But there are likely some areas where you don’t. For example, my primary skills are communication strategy, executive coaching, speaking and writing – but start talking to me about taxes and my brain shuts down. There may be two types of help you need in shifting into entrepreneurship – practical and emotional. Let’s take a look at each.

By practical support, I mean outsourcing certain needs outside of your wheelhouse – legal, marketing, accounting, IT support and more. Sometimes software can help while you’ll need to engage actual people for specific functions.?

With emotional support, I’m talking about professional coaches, counselors, and groups of like-minded souls who can be there to provide guidance, accountability, cheer you on and challenge you when needed.?

“You will be bombarded by suggestions, creative ideas, people who claim to know better and plenty of money to spend to get your answers,” noted Shaw. “Some may be worth, most won’t. You need one solid confidant as a coach to keep you on course.”

How did you transition from a corporate job into having your own business? What have you learned from that process??

If you have been feeling a little – or even a lot – stuck these days as we navigate our post-pandemic world, check out my?“What Kind of Stuck Are You?” Quiz ?to gain more insight on what may be holding you back – and what to do about it.?

Looking for a step-by-step process to help you get unstuck and stay that way for good? Check out?Free and Clear: Get Unstuck and Live the Life You Want . It is chock-full of helpful tips, easy-to-use tools and inspirational stories of individuals who overcame obstacles against the odds.

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