Tired of the daily grind of a 9-to-5 job? Have an interesting business idea that you know in your gut could be the next big thing? Below are some tips on what to consider before you quit your day job and make the transition to becoming a full-time entrepreneur.
Ask yourself why you want to become an entrepreneur. It should be for the right reasons – you have an idea that you believe in,
The Boy Scouts’ motto holds true in almost any sphere of life, particularly when it comes to a major decision like investing your time and money into launching your own business. When you’re running a business, you’re in it for the long haul, so be prepared for a demanding journey; the highs and lows can be constant – and draining. “Building a business from the ground up requires guts,” says Murali Murthy, career coach and author of the Canadian bestseller You Are HIRED! 40 Invaluable, Easy-to-Implement Career Tips to Land Your Dream Job Quickly. “To make the transition from a job-focused employee to an independent entrepreneur, you need passion, motivation, self-belief, hard work, and disciplined dedication.” Your business is your baby, so it will effectively consume your life. One moment you might be looking at your sales figures, the next you might be scrubbing your office floor. Get ready for uncertainty.
Just because you’re quitting your day job, it doesn’t mean you have to quit your colleagues. Keep your professional network intact while you make fresh connections as a new entrepreneur. There are endless resources for you to explore, from services like Meetup, to specialized Facebook groups, to face-to-face networking events in your area. Actively seek out strong, quality relationships with potential mentors, customers and advisors who can benefit your new venture. As music mogul and Def Jam co-founder Russell Simmons famously said, “Surround yourself with people who are smarter than you.” Successful entrepreneurs who have already experienced the highs and lows that you’re going through are some of the best people to get advice from. And most importantly, remember to give back – networking should be a give-and-take relationship where both parties have something to offer. Don’t make it just about you.
Entrepreneurship is not for the faint-hearted. As Murthy says, “Each one of us has the inherent ability to win and be self-dependent. Take the first bold step and the rest will be easy.” With the right idea and unwavering passion, the life of an entrepreneur is quite a ride.
Baisakhi Roy | The Edge Blog