Working for other people has its perks, but there is something special about working for yourself.
At a job (such as in corporate or in education), you are often guaranteed many perks like consistent salaries, simple taxes, insurance, and vacation days. As an entrepreneur, nothing is guaranteed. There’s a risk to it. But like they say, no risk no reward.
As an entrepreneur, you can make as much money as the amount of work you put in. You can choose your hours, you can choose who you work with, and choose the course of action each day.
Making the switch into entrepreneurship can be tough. In this post, I’ll review 5 tips for transforming your mind, skillset, and way of life from a day job working for others to your own gig.
1) Make a Decision
First, you need to make a decision. When you’re ready to quit your day job, you have to follow through on that decision. You should be prepared to make little to no income your first 9 to 12 months. Do you have the funds to support yourself if you don’t make any money for a year?
If you’re mentally ready and are passionate about your business idea, just say “yes” and go for it! You may also want to start a side gig. This process may not work though because your time is still spent at your old job and it’s hard to focus the energy needed to build a business when you don’t have the time. It comes down to your personal situation.
2) Be Prepared for a Grind
As mentioned above, starting a new venture as a first time entrepreneur is not easy. It is going to take you tons of initial effort. It’s like farming, you have to do a lot of work before you see the yield of your crop.
Many entrepreneurs give up within their first year. It is very mentally tough to lose the structure of working for an employer. It is also mentally tough to not see money rolling into your bank account, or not having any customers.
Be prepared to struggle.
3) Expect to Work Harder than You Are Now
Another tip for entrepreneurship is to expect that you’ll be working harder than you are now in your current job. One of the major differences many experience is that you don’t get paid to sit around in your own company. While working corporate (unless you’re in sales), you probably have a lot of down time where you still get paid. Not so much in entrepreneurship. As an immigration lawyer in Miami, Florida, I find myself working much harder for myself than I ever was required to do for other companies. The great news is, your new business is YOURS. All the profits are YOURS.
Also, find ways to work smarter. Automate as much as possible.
4) Have an Attitude of Gratitude
It’s important to be positive, especially as an entrepreneur. Things will go wrong, and things don’t always go to plan.
Here are a few tips:
- Write down your successes, even if they are tiny
- Be grateful for your ability to work hard
- Find joy in the small things. Your success is a million tiny things added together
I cannot emphasize this enough, learn to be positive and have an attitude of gratitude.
5) Set Your Eyes on the Prize
Why are you wanting to be an entrepreneur? Do you want to help people? Do you want financial gain? Do you want to retire early? Make sure you have at least 1 reason. Passion is needed, but long-term vision is crucial to continuing your journey past the initial excitement you may feel.
My Final Thoughts
Thank you for reading my post on 5 tips for transforming into an Entrepreneur. I know it’s not easy, but if you’ve got passion, a service or product that is in demand, and a whole lot of grit, you can make it as an entrepreneur!