How did you know when it was time to leave your 9 to 5 to focus on your business full-time?
This is a continuation of the previous post Leaving Your 9 to 5. If you are thinking about taking that leap, here are nine things to consider beforehand.
- Create a realistic plan with multiple versions. I seriously wrote out a plan A- E. I considered all my what if situations. My plan E involves going back to corporate full time. It’s only a few months in and I’m still on plan A.
- Create a financial plan. My financial plan is similar to my realistic plan but it focuses solely on money. I looked at all my savings, IRA and 401K plan. My savings would get me started. I also decided I was willing to tap into my IRA and 401K if needed. I feel that strongly about what I’m doing. Consider both your business expenses and your personal living expenses. I made the conscious decision not to downgrade my life at this time. I believe that my future earning will allow me to maintain my same lifestyle. Of course, I have to cut back on shopping and dining out but I’m ok with that.
- Create a spiritual and/or self-care plan. Consider how will you connect with your inner self when times get tough. Entrepreneurship requires courage and self-motivation. Start to surround yourself with the things that will feed your spirituality. We all have different belief systems so there is no one size fits all. Even if you do not believe in a higher power, surround yourself with things that motivate you. Keep handy anything that brings you peace and allows you to find clarity.
- Put yourself in the rooms with other entrepreneurs. You need to surround yourself with like-minded people. In my experience entrepreneurs are the most supportive. It’s like you are joining a community and they are all giving you that nod of approval. You will learn from some and others you will teach. Know that at some point it will be your turn to pass the torch to the ones coming behind you so learn all you can.
- Ask questions about other people’s journeys. I personally do not want to learn the hard way on every aspect of entrepreneurship. There will be some challenges that are specific to you, your energy and your industry. For everything else learn quickly from other people’ mistakes. Find inspiration in their journey’s.
- Identify your support team. There are people who will support you to the ends of the earth with no questions asked. There are people in your life that will challenge you to be the best version of yourself. Then there is everyone else. Identify who is who and if for any reason you are lacking a support team this is your opportunity to create one. We are born into a family but we all come here with a tribe. It’s time to find your tribe.
- Become aware of your inner critic and be able to identify it when it shows up. Your inner critic can take many forms get to know him or her. Be vigilant and wary of the messages he/she brings. Find the tools to face your inner critic.
- Know that at any time, you can make another decision. We are never stuck and we have choices. At any point in this journey, it is your right to make another decision. Usually, the only people questioning your decision-making are the people sitting on the sidelines anyway so why are you listening to them? Thank them for their service and send them on their way. Then refer back to your plan A- E and adjust it according to what’s in your own best interest.
- Trust your process. Your experience is unique to you and will be determined by the summation of your thoughts, words, and actions. On your journey, others on similar journeys will be revealed to you. We are always in the right place at the right time.
It’s a lot of planning but it’s necessary to think of all areas that might impact you on the front end. This is my list but evaluate and add to it as you see fit. Good luck.
Peace and Blessings