Wait! Read This Before You Quit Your Day Job
Who can resist the allure of luxury and freedom offered by little to no work? Based on the Great Resignation, I dare say social media’s inaccurate portrayal of entrepreneurship is reeling in droves of people who will soon be surprised. Easy money via entrepreneurial ventures sounds fabulous! The untold story is that this life isn’t all sunshine and rainbows. Oh, I’ll be the first to tell you nothing compares to work that reflects your life mission. However, the warm and fuzzy sense of fulfillment coexists with a disciplined work ethic and grit. It’s concerning, to say the least, when I see paid ads and influencers failing to mention the long hours, steep learning curves, and the all-around frustrations to conquer before your business finances can fund a trip to St. Barts. People shy away from reality. Not me. Not us. Not now.
As an entrepreneur who’s served as a coach and consultant to emerging entrepreneurs for more than a decade, I have a balanced view of what this journey entails. Yes, a major draw to starting a business is the potential to make a lot of money and build something that is truly your own. I totally get that! I myself enjoy the perks of being my own boss, setting my own hours, and working from anywhere in the world. Such flexibility is a beautiful thing, but there is a flip side.
Despite the glitz and glam of owning a business, the pathway to profitability usually isn’t smooth sailing. Risk is involved. You’re not just betting on yourself. Factors come into play like marketplace value, knowing how to engage with your customer base, and having the capital to stay afloat until your idea catches on. The first few years are typically spent being the owner and the employee, which neither feels luxurious nor liberating. Thankfully, brighter days do come to those who are tenacious. Consider these questions while you’re in this double-dutch place of should I or should I become an entrepreneur:
Is my idea for purpose, profit, or both?
Do you have the time and energy it takes to launch and grow a new venture?
Am I physically, mentally, and spiritually prepared for the unknowns that lie ahead?
Taking inventory of yourself and ownership of where you are in life enables you to make a decision from a play of wisdom rather than feelings. It’s about honestly assessing your skill set, emotional wellbeing, resilience, finances, and deficits. Even if you find that you aren’t ready to go all-in, that still does not mean completely dismissing your dream.
Might I suggest tipping your toe into the water of running your own business from within the walls of a larger organization? Doing so is known as intrapreneurship, aka having the best of both worlds. Working full-time in a specialized role allows you to earn income while growing in your expertise. Creating content, writing books, and getting hired for speaking engagements makes while still working in a traditional role gives you a taste of entrepreneurship without disrupting the predictable cash flow you’ve grown to appreciate.
Thought leadership is an amazing option as well! No matter your niche, being a thought leader is all about building a personal brand while sharing your knowledge and ideas with the world, getting booked for paid speaking engagements, and being sought out for consulting work. And, best of all, you can do it all while still working a full-time job.
Long story short, entrepreneurship does not demand an all-or-nothing experience. Before quitting your day job, take time to figure out what works best for you. Entrepreneurship isn’t as easy as it’s been portrayed to be, but it can be an incredibly rewarding experience if you’re willing to put in the work. Thank me later!
So, what do you think? Are you still gung-ho on quitting your day job to pursue your entrepreneurial dream, or will you dip your toe in the water first?
Let me know your thoughts in the comments below! And, as always, thanks for reading!
