The Transition from Employment to Self-employment

Date: 20-Dec-2013 Post in: Entrepreneur , Startups By: Raj Dhonota

Let’s face it: acquiring sufficient capital and taking bold risks to embark on a business venture isn’t everybody’s bag. It’s a whole different ball game and some folks find it hard to adjust to the new landscape. It takes a certain kind of entrepreneurial mindset to boldly go down this road.

Core Flexibility

When setting out to start a business, know that you no longer have just one job description to fulfill, with a clearly defined scope of work. The nature of your work as an entrepreneur will undoubtedly include multiple job functions and, often at times unpredictable activities.

You are no longer in a position to “pass the buck”. You absorb all the risks and are fully accountable. You’re the sole decision-maker, so be flexible enough to understand and realize your new role.

Self-motivation

The tables have turned here; you’re not just responsible for being self-motivated but your team is going to be looking up to you and thrive off your motivation. Nobody’s dropping work on your desk or telling you what to do next. You must make proactive efforts to go out there and acquire business. This can unquestionably be a difficult change to encompass for someone who’s had a full-time job throughout their career.

Identifying Opportunities

Surveying the potential market for an audience with an eagle eye is a responsibility that rests solely on your shoulders, at least in the start-up phase anyway. You must take it upon yourself to scan the horizon and position yourself so that investors and prospective clients feel compelled to give your services a go.

The Unknown

Unlike full-time employment, there’s no guaranteed success ladder or map for a self-employed individual. Know that payments or profits may not always come strolling in as you plan. Be ready for the uncertain. Keep at it, be patient and persevere. With enough determination, you should be able to create a map for success.

Commit Fully

Putting your heart and soul into it means you’re confidently standing by your product or service. Believe in your product and yourself. Be prepared to work long hours. Be ready to continue working on holidays. Your level of commitment will surely influence business prospects to give you a chance to prove yourself.

Having a reliable knowledge and support system in place is a good way to make this transition as pain-free as possible. Good luck!

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