One of the top mistakes new entrepreneurs make when transitioning from their “steady job” to going all-in with their business is that they put too much pressure on their business to support them financially.
When I first considered leaving my policing career to start my own business, my mentor Dr. Lise Janelle, instilled in me that it takes time to start a business and the importance of this principle.
This is something I have passed down to my clients and that I think is worth highlighting.
On average, it takes between three to five years to establish a successful business.
Depending on the industry, it can take more time or less, but it’s three to five years in most cases.
Like most things worth lasting, it takes time!
It doesn’t happen overnight.
Knowing that it takes time, the key is to plan your strategy accordingly.
Having a financial strategy not only will take the pressure off you and your business to perform, but it will also allow you the freedom to build from a place of love and inspiration.
However, let’s say you decide to leave your “steady day-job” and expect your new business to support you financially. What often happens next is that you become “needy” and desperate for new clients.
I’m sure you can think of a time when someone was trying to sell you on something, and they came off as “needy.”
No matter how badly you wanted it, if the salesperson came off as too desperate, or wanted it more than you wanted it for yourself, then it became a huge turn-off, and most likely a “No Thank You!”
Rather than creating something from love and inspiration (like we talked about in the last blog), it quickly turns into fear and desperation, which are not attractive business qualities.
A more loving and long-lasting approach is coming up with a financial plan to support you while growing your business.
Here are four ways that can help you lovingly transition into having a successful business:
- Have a partner who can help support you financially.
- Get a part-time job to cover your expenses.
- Have at least two years of savings (aim to have enough money so that if you weren’t to make any money in those two years, you would be ok).
- Stay in your current job and build your business on the side.
Choose which feels most in alignment for you.
It may even be a combination.
The key is to remember that it takes time to start a business.
The more you try to force it, the more you’ll get frustrated.
One of my key takeaways from transitioning from my policing career into my business is how important it is to have a coach or mentor in your corner. Or at the very least a blueprint or strategy that can help get you there faster.
Although it takes time to start a business, there are also things you can do to move forward with less resistance and greater ease.
One way to do that is to find someone who has a track record of success and has already done what you want to do.
If you are looking for more guidance in moving your career or business forward faster, you can apply to work with me directly.
There is also an opportunity for you to attend my upcoming Career Fulfillment Masterclass.
This workshop is for entrepreneurs, executives and professions looking to reach the next level of success in their lives.
During the 1-Day virtual event, you will:
- Gain more clarity on your top career goals and map out your long-term vision.
- Gain more purpose, freedom and fulfilment in the work you do.
- Create a blueprint with the next best steps and how you can move forward with love, inspiration and get to where you want to go faster.
To learn more about the Career Fulfillment Masterclass, CLICK HERE.