What Happens When You Leave Your 9-5 Job: The Best Steps for a Solid Foundation

February 3rd, 2017 Tags: business ideas, Dexter Montgomery, Pamela Montgomery
Posted in Leaving Your 9-5 Job, Podcasts

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What Happens When You Leave Your 9-5 Job

What Happens When You Leave Your 9-5 Job: The Best Steps for a Solid Foundation

What happens when you leave your 9-5 job? It can be scary and overwhelming to think about leaving your job. But with the right mindset and a smart plan, it does not have to be. In this podcast and article, we give you a 3- step process that will help you build a solid business foundation. Following this process will give you a better idea of what happens when you leave your 9-5 job.

Step 1: Does Your Business Idea Excite You?

Does your business idea excite you? Is it something that you will eagerly jump out of the bed and commit to doing for the next year? Your business idea does not have to be a grand passion. But you do need to have a feeling of anticipation and a thrill for trying this new challenge. If your business idea does not excite you, go back to the drawing board!

Step 2: Does Your Personality Mesh with Your Business Idea?

 Being an entrepreneur is more than being someone who is an expert in a skill or topic. You must be someone who does several things to significantly impact your client.

For example, will you:

·     Transform and clarify your clients’ understanding of something they are currently doing

·     Help clients’ see the “why” behind the “how”

·     Share your clients’ excitement over their success.

Whatever you decide to offer your clients must be aligned with your core beliefs and personal values. Does your business idea allow you to be authentic?

You must believe that your solution to your clients’ problems will make the world a better place. Because you are the perfect person to supply the solution to their problems!

To help you understand your entrepreneurial personality, take this quick assessment from Harvard Business Review: “Assessment: Identify Your Entrepreneurial Personality Type.”

Step 3: Is this the Right time to Launch Your Business?

Timing is always a tricky question. You wonder whether you should you quit your 9-5 job now or ease into your business gradually.  Dexter and I started our business while working full-time. That worked for us. You should make an individualized assessment of your situation.  Then you can decide whether to quit now or to ease into your business gradually.

Here are a few issues to consider:

·     Is there a paying market for your business idea?  If you and your brother are the only two people interested in this idea, you may want to find something else.

·     Do you have adequate start-up capital? You do not need a million dollars in your bank account. Countless numbers of entrepreneurs have started a business on a shoestring out of their garage or dorm room. It does help to have some savings and budget that you plan to follow.

·     Is your niche narrow enough?  Remember you want some competition, but not too much. If “weight loss” is your niche, it is probably too big. But if you target “vegans” that specific small segment you probably can serve.

·     Is your business idea one that is sustainable and scalable? For example, once you teach them how to solve one small problem, are there issues that you can teach them? Is there a next step? Can you create multiple products and services?

·     Have you done your research? Make sure to check on Amazon for any books on your specific topic. Look in grocery stores to see if there are magazines on the subject. What are the leaders in your niche doing to serve their clients?

·     Do you have any clients lined up? It would be fabulous if you had a waiting list for your products or services.

·     Have you tested your idea? Perhaps you want to share your new products or services with special group of “beta” testers. Perhaps for a reduced fee, they can give you feedback.

·     Do you already have credentials or experience that instantly qualifies you as an expert? Are you already doing it or teaching it already? Do you have a strong network of connections?

Take your time to think through these issues. Do not act impulsively. Really dig deep and then decide.

Leaving you 9-5 job can be an exhilarating time in your life.  It is the first step in achieving your goal of creating the life of your dreams.

Conclusion/Call to Action

 What happens when you leave your 9-5 job? With the right plan and a strong mindset you can deal with the feelings of uncertainty and overwhelm. This article sets forth a 3-step process to help you build a solid business foundation.

Step 1: Does your business idea excite you.

Step 2: Does your personality mesh with your business idea?

Step 3: Is this the right time to launch your business?

Let us know if you are ready to leave your 9-5 job. Contact us to help you develop a plan to launch your business idea and put you on the strategic pathway to success.

I am Pamela Montgomery, an attorney, author, and online business strategist working with entrepreneurs, speakers, and authors as they create the life of their dreams and achieve uncommon results!

Also published on Medium.