When you got to jump, you got to jump but you can jump the way you want to and with the kind of landing you want!
The thought of starting your own business is super exciting but it can also have fear associated with it. Let’s face it, whenever you do anything new and a bit out of your comfort zone, the fear can kick in. This fear comes from our in built desire to stay safe and protect ourselves BUT that does not align with personal growth and achieving goals. To achieve anything you need to stretch yourself and that can feel scary and a little painful at times. It’s not a reason to not do something however.
So a recent client asked me;
How do you make the jump from from a full time job to having your own business?
Now the answer is different for everyone but it’s based on the same theory; you have to make the jump to find out! It will be a totally different experience for everyone and there are no guarantees in business (or life or in your current job either)
There are some things you can do to make the decision on WHEN to jump and HOW. Some people might go feet first and give up there job and dedicate all their time to building their new business. There are pros and cons for this;
PROS
You are solely focused and dedicated on helping your business grow.
You have time to study and develop your marketing plan.
You have a clear identity and vision.
You can do what you want all the time.
CONS
You have put all of your focus into one thing.
You may need to adjust to a new cash flow situation.
You will need to take ownership of your business and lead it to become a success.
In terms of how we can help you with the CONS, we have lots of resources to focus your attention on building your business and loads of support to encourage you along the way. You can ask any questions and sound ideas out on me and the rest of the community. To adjust to the cash flow, you can plan using our Baby Business Plan so that you know what cash you might be receiving into your business and you can make any adjustments. Planning always helps protect against risks and helps you feel happy with the direction you are going in.
The other alternative is to start to study and keep working part time in your existing job to bridge any gap and to make the transition less big. Again there are pros and cons;
PROS
You might be able to get started sooner
You can balance the transition into self employment
You can be a little more relaxed around monthly income
You can study in your own time and launch when you are ready
CONS
Your focus might get diluted
You might not make the leap into self employment.
I think when making the decision a big thing to ask yourself other than the financials is about what being happy and successful looks like to you. If you hate your job, then staggering launching into self employment does not seem sensible. If you want to be with your children, again why wait? There are many elements to the decision and they all need to be weighed up on order of importance.
I went from a salary of over £40k to a salary much less than that when I starting teaching baby massage but the benefits of self employment such as being my own boss, having flexible hours, being with my children etc meant I knew I had to do it. I got round the drop in salary but adjusting my lifestyle to allow me to have the work, life balance with my family. Many people thought I was being a little crazy but I did not care as being with my daughter and being authentic was worth walking away from the salary. As I built my business up, I was able to make between £60-£100 an hour and be with my daughter so I felt more than satisfied. I also was being paid for something I loved to do.
What you can do next to take action
Now I am not making it all gooey and romantic, it’s a real balancing and planning act but take a look at our Baby Business Plan and try on how being self employed might feel. The first step is a plan, the next is action. The good news is we support you throughout the whole process. There will be ups and downs but there will always be someone to talk to.
Much love
Gayle