Just six days left until the Escape from Cubicle Nation workshop in Charlotte, NC on Thursday, 8/13. If you can't make it, check out Pam's website for a list of workshops near you.
If you read yesterday's post, Lesson One: Find the Right Fit, and realized that you are stuck in the zoo and your shoes don't fit, then you're probably feeling anxious and fearful today. You want to find the right fit but, as Pam Slim says, "you don't want to end up living in a van down by the river." That's normal and Pam wants you to know that "you aren't crazy."
She's not crazy either. She doesn't expect you to quit your job right away because simply "hating your job is not a business plan." But you can get started right now.
Lesson Two: Start Now
The first thing to acknowledge is that, even though leaving your job is risky, staying in your job isn't safe either. The current economic downturn and rising unemployment rate are painful reminders of this fact. Because of this, you need to be ready to leave your employer, especially because your employer might leave you first.
"As I watched formerly high-flying corporate employees slink our of their offices with their personal effects in cardboard boxes, I asked myself: 'Who feels better today, those employees who put all of their effort into their job, or those who took the time to develop a wide social network, invest in self-development, and pursue a small business on the side?'" I think the answer to that question is obvious, I call the second group, part-time freaks. They still have their job but they flaunt their weaknesses on the weekends.
"Probably the easiest way to turn your passion into your job is to do it gradually. If possible, don't quit your day job before launching your business. If you want to podcast, start with a monthly show or with a very short weekly show and see how it works. If you want to open up a yogurt shop, take a part-time job in someone else's yogurt shop and learn everything you can about how to run the business. If you're passionate enough, it won't even feel like work. In many cases, if your idea is a good one, you'll eventually become so busy or successful in your part-time endeavor that it will be clear when you should quit your day job and become a full-time independent business owner."
This is great advice. I've gradually built my business over the last five years while still maintaing my job as a college professor. I've slowly invested more and more time, energy and money into the business as it has built momentum and become more profitable. Yesterday I got a call from Bob Fink at Educational Resources of MN. During our conversation, he explained that he has also developed a tremendously successful business while continuing his job as a fourth grade teacher. We both started small and built our businesses steadily during the evenings and weekends.
If you think that you don't have any time to build a business on the side, tune in tomorrow and let Pam show you how to find the time you need.
In the meantime, Pam has at least ten other great suggestions for getting started, without leaving your job.
- Take responsibility for your decision to keep your job.
- Learn as much as you can during the workday.
- Look for projects that relate to your business idea.
- Find a mentor and/or coach.
- Network with other entrepreneurs and potential customers.
- Attend conferences and workshops.
- Take advantage of your company's tuition reimbursement policy.
- Get out of debt.
- Save up six-months of living expenses.
- Simplify your life and reduce your monthly expenses.
The last three tips related to personal finances are especially important. You're not really afraid of losing your job. You're afraid of being unable to pay your bills. By increasing your savings account and reducing debts and living expenses, you are reducing the probability that your business will fail. This is because your new business won't have to generate nearly as much profit as it would if you didn't follow these three steps.
Don't make it harder than it has to be. Adjust your lifestyle, at least in the beginning, to fit your dreams of becoming an entrepreneur. You can always get back in debt and live beyond your means once your business has become a phenomenal success.
The key lesson for Day Two is that you don't have to quit your job to begin your entrepreneurial journey. You can get started right now. On Day Three, we'll look at strategies for finding the time to begin building your business.
Do you like what you're reading? Do you want more? Get a free sample chapter from Pam's book. [No registration is required. The link opens directly into a PDF document.]
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