Monday, September 8, 2008

Making the Transition

How long does it take for someone to make the transition from Corporate America to self-employment? I have friends who took several years to make the transition...their steps were steady and planned. However, I have other friends who just went COLD TURKEY. One day they were working for their bosses...the next day they were working for themselves. Of course, that comes with many challenges.

One of my friends who took 'the plunge' just told me the other day that she was starting to have second thoughts. Don't get me wrong, she is happy that she finally stepped out on faith to start her own business. But on the other hand, she said she didn't realize just how good she had it when she was receiving a steady paycheck. Instead of getting paid regularly every two weeks... she gets paid monthly now....and that has to cover a lot of her business expenses. She's doing okay...but no where near where she was when she worked full time for her previous employ

I am in the midst of making that transition now. I am fortunate to to have a very flexible schedule which allows me to be very efficient in both areas of my professional life. But at some point, I know I will have to make a decision. Until then, I am making every preparation possible to make that transition a little smoother.

I'd love to hear from some women who made a successful transition to entrepreneurship. How did you make it work for you?


Mrs. NearlyWed said...

You have to plan. No question. You work your butt off and stock pile savings and find or develop business that will help to sustain you and bring in income once you are ready to leave.
Research health benefits and understand what it will cost to pay for your own. You need to see in a budget what you need to generate in income monthly to survive.
Cut back on everything non essential and focus on bringing in business so that you can live off earnings and not savings. What you sell makes a difference to your transition. One contract can set you up in a good position or it might be 150 widgets you need to move - Very different.I believe your plan will dictate when you can make the move into complete self employment.
Also remember there is part time employment to supplement your earnings once you do leave your employer. Good luck! said...

Hi, Shani,
I am also in the transition phase. Our company recommends working your regular job, until you can no longer afford the time to go in!!! Also, until you have more than replaced your income.
I am fortunate to work with a very successful team, and an incredible company. Ours is the only home-based business to ever be endorsed by the U.S. Chamber of Commerce. If you know of anyone who may be looking for a fabulous opportunity, please send them my way!
Have a great day! Wishing you all the best for success!!! Take care and be well!

Natalie Boecker

Melaleuca: The Wellness Company