I might get asked this question more than any other question… it’s what every entrepreneur out there dreams about! Being able to wake up each day and love what they do (for the most part!) whilst creating their own schedule and responding to their own team. Not to mention, making their own financial way.
But when is the right time to shut off the tap to a job that is paying your bills, keeping a roof over your head as well as food on your plate? When is it time to go “all in”?
The tricky thing about it, is there is no one answer, however I can throw back some questions back at you that hopefully will help you discover the answer for yourself!
1) Do you have a business plan? I know this question is as dull as unbuttered toast to most entrepreneurs out there, especially creative ones, but I wouldn’t be doing you any favors by not asking this question. A business plan is one of the surest ways to make sure that your business can sustain you full time.
2) What is the nature of your business? Does this business require that you are there 9-5, in person at all times to greet customers? Between being the face of the business, along with doing all the work to prepare for the next day, your model might not allow for anything BUT to leave your 9-5! If this is you, be sure to have a solid business plan in place as well as reliable resources to call on!
3) How “in demand” are you? Have you been working in your business at every opportune time around your day job and is there a line-up of people waiting to access your products/services?
4) What is your risk tolerance? Each person is different when it comes to taking on risk. Some people can operate extremely well with high risk on their shoulders… for others, it paralyzes them into a dark corner of the closet as they rock themselves back and forth! Don’t take on anything that you know will bring you emotionally to a screaming halt!
5) What is your skill level and how desirable are you within your market? It’s one thing to be great at what you do, to be highly trained, or highly educated. But if the “desire” for what you do are not there, or the industry is already saturated with others doing what you do, it might take some time to get a line-up of people at your door while you start to own and become recognized for your niche.
6) How big is your safety net? What back up do you have from a partner, investment, or accumulated savings? Again, what are you willing to risk?
7) What is your market pool? Are there enough fish in your pool willing to bite on your offers?
8) How do you want to live? What are you willing to sacrifice in order to grow your business? YES there are always sacrifices in business growth… be it time with loved ones, finances, sleep, or letting go of a job you also love! Are you ok living a more simple life for a while until your business is where you want it to be?
Getting to full-time within a business is no easy feat, it also doesn’t become easy once you have made it to full-time. It is constant, committed effort, just as if you were an athlete! IT IS however, incredibly rewarding once you find your feet, your foundation, and you’ve become resilient in the face of adversity.
I’m a small-town girl with big dreams and a passion for empowering women to create businesses that support the life they deserve. Pursuing your calling should never be an isolating endeavor, so I’m here to provide you with all the encouragement, guidance, tools and reassurance you desire on your path to success. From impactful biz tips and inspiring stories of success to favourite sweats to rock in the home office, I’m grateful for this SHE community, and invite you to join us!