Hats off to every entrepreneur out there! Until you’ve walked a mile in the shoes of running your own business, it’s hard to grasp the intricate balancing of juggling, multitasking, staying the course, and maintaining mental perseverance. Just talking about it takes me to the next level of questioning, “What have I gotten myself into?”
I’ve always believed I possessed the entrepreneurial spirit, harbouring a long-standing dream to start my ‘own thing.’ However, having the spirit is a world apart from having the necessary skills, right? I put my desire out into the universe, and it responded, making my dream a reality. Regardless of how prepared you think you are, there’s always something waiting to surprise you – sometimes in a positive light, and sometimes not so much.
Transitioning from working for corporate bosses for almost three decades (close to 29 years to be exact) to being my own boss has granted me some interesting perspectives. The corporate world provided everything you could possibly need to excel at your job – best practices, training opportunities, and extensive resources. Now, as I navigate my own business, I often find myself longing for some of those invaluable resources and support. However, this journey has also forced me to become more resourceful, and when I say, “a little more,” it’s a bit of an understatement.
Over the past four years and a bit, I’ve learned that it’s possible to shift gears and change direction, even though it remains daunting at times. Throughout this transformative journey, I’ve adhered to some basic principles. For instance, the fundamental skills and principles you applied when working for a company remain relevant. It’s a matter of shifting your mindset. Understanding your product and target market mirrors comprehending your job and its deliverables. Same same, but different. Another example is that if you’ve managed projects or multiple work activities before, the experience is transferable to running your own business. The challenge lies in the absence of a safety net – initially, you’re responsible for everything. Managing your time effectively becomes paramount.
In comparing working for someone versus working for yourself, a few additional things come to mind. Working for yourself offers more freedom but demands a self-imposed structure. It’s about finding a balance between independence and maintaining a disciplined routine to ensure productivity. Entrepreneurship involves more risk, but the potential rewards are also greater. Be prepared to embrace uncertainty and view challenges as opportunities for growth. While corporate jobs provide established networks, being an entrepreneur requires actively building and maintaining your own network. Networking becomes a vital aspect of success in your venture and in my own case, this is not only a vital aspect but rather a priority. Another point is that the learning curve is steeper when you’re your own boss. Continuous learning and adaptability are crucial as you navigate various aspects of your business.
If I could go back in time, the advice I would have given myself when I first started my entrepreneurial journey would be to stay informed about the industry trends, market dynamics, and any new developments that might impact your business. Reach out to mentors, peers, and fellow entrepreneurs to share experiences, seek advice, and provide support to others in the same boat. Ensure you have a solid financial plan in place. Understanding the financial implications of your shift and being prepared for potential fluctuations in income is a nail-biting adventure but you learn very quickly how to get into a rhythm with this. Another important thing to remember is to establish achievable short-term and long-term goals for your business. This helps you stay focused and motivated, especially during challenging times.
Remember, the journey may be challenging, but the rewards of being your own boss are often well worth the effort. Embrace the change, stay resilient, and keep pursuing your entrepreneurial dreams!
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