Have you ever questioned how to transform your ideas of owning your own company into an actuality? I started my own Construction Company (entrepreneur female) with my father at 26, and the business is now 33 years old. In my late 40’s, I felt that online or e-commerce would be the face of the future, and I started a digital online store.
Then in my mid 50’s I became a Founding Member of Rodan and Fields Australia 2017. Joining this business has allowed me to utilise my Digital Marketing, Social Media Marketing and Personal Branding skills. I researched and came up with the data that the Anti-aging skincare market would continue to grow alongside eCommerce.
Having this business has empowered me, and I have made it my mission to share these inspirational stories with you so that if this is you. Their road ahead is not a lonely as you might think, to leap into becoming an Entrepreneur.
Going From An Employee To Entrepreneur Female.
If you’ve worked in 9 to 5 jobs for your entire career, you might be unsure how to turn to start your own company. But, in reality, forget about the uncertain—you may even be scared to do it. “Fear, confusion and doubt are always at the top of the mind when people think of breaking out on their own,” says Jill Jacinto, a millennial career expert. “It’s a gamble and a risk to take this step.”
I am here to say that you don’t have to be afraid. There are ways to make this transition smoothly.
Realise it’s normal to be afraid.
It’s perfectly normal—and even healthy—to feel a little fear when leaving a stable career. And it would be best if you didn’t push that fear down: In fact, as long as your anxiety doesn’t keep you back, it can support you make intelligent and effective decisions as you start your own business.
You can either operate your own business while you have the luxury of an income, or you can dive in and quit your “Job” and focus entirely on your new business.
However, it must be noted that there will be a grieving process, even when you are sure about the choice they have made. Or there is the worry that you have made a mistake; I agree with those who say take your time to go through the natural grieving process that will arise for you. Realise that it’s normal and does not mean you’ve made the wrong decision. It’s a life change, and a big one at that—and with those can come emotions you have to work through.
For Me, I Chose To Ease Into It.
What I did was while I still have my career, I am doing what I can for my new business, rather than diving in all at once. In my free time, I developed my blog/website. I began recruiting future clients and business partners. I took the time to learn anything about my new business and industry before officially saying Sayonara to your old salary worker gig.
Many of my partners choose to start working part-time in this field for a small business owner if it’s a new direction. Enabling you to see the complete picture of the day to day operations. While also gaining greater confidence
I Started By Creating A Business Plan.
Before I started, I took the time with my sponsor /coach to create a business plan of yearly, monthly, weekly, and even daily items that I need to accomplish. “Being organised can help relieve uneasiness but also helps ensure your new gig is successful.
My business plan included source clients, set budget expectations, and a marketing and sales plan, whether you provide services or products. I made sure I hit my targets on my daily items to give me a slight sense of achievement. I record my weekly targets and again evaluate if I succeeded to accomplish these targets.
Before I knew it, I was a month in. I had my coach/sponsor check in to ensure I hit just those small daily and weekly targets when I began.
I Expect To Do It By Myself.
As an employee, you might find it easier to depend on others to manage to ship, prepare a report for a client, or answer correspondence. As a business owner, I did not have the financial resources to secure an assistant, so on a bootstrap budget. I became a successful PA.
As the CEO, President of Audrey Anderson World, I am the one who speaks to Customers / Clients; I was the personal assistant who arranges meetings to talk to other Business Partners (sales Teams). In addition, I am the one who is accountable for doing all my Social Media marketing on all platforms; I am the only one writing copy for my posts and updated blog posts.
I am “IT”, and I leant quickly that we entrepreneurs wear many hats – from top management to office custodians. Chances are you’ll undertake many different business activities, so learn to shift gears quickly during each workday.
The Meaning Of Bootstrapping For Entrepreneurs
Bootstrapping refers to the creation of a company solely based on your savings as an entrepreneur as well as the initial sales of your company. For example, we started with very little with the construction company, and I did not get paid for a while. I had my husband working, so we lived on one income.
With the Side Business of Consulting for Rodan Fields, it was a breeze. A joining fee of, AUD 65 and I bought a Business Kit for AUD 1200 filled with products. It is much to get access to world-class products, shipping, digital marketing assets and a website than when I started my Construction company.
This is a challenging task, as all financial risks are put on the entrepreneur, and there is little scope for mistakes. Furthermore, if the company fails, the founder will also lose all of his savings.
However, what is more exciting is the benefit of bootstrapping. An entrepreneur can run a company with your own vision without outside intervention or an investor seeking fast income. That being said, sometimes, getting an outsider’s assistance will help a company rather than harm it. Many organisations have succeeded in adopting the bootstrapping technique. I am here to attest to it.
I Learnt How To Build A Loyal Community.
As I was making the transition. I continually shared my plan with my “Coach/Sponsor”—especially those who have their own businesses—and see if they can help flesh out needs and determine the best path for my success.
Their advice and experience can help make my transition easier. However, I also had to learn to be open to being “coachable”, which means admitting that I did not know everything and trying to learn everything I could from my Coach/Sponsor.
I Learned To Set Aside Some Money.
I wanted my business to be a success, but the reality is that many new businesses fail within the first few years. You can ensure your business succeeds by setting aside the cash you can use if the company doesn’t take off as anticipated.
That is why I continued to work in a “Job”, as I knew that I had that buffer to live off while ensuring my business could succeed. I would recommend having “six months – twelve months of runway.”
Focusing On The Long Term For The Business.
Again with easing into owning your own business, there needed to be a shift in my mindset. I had to ensure I maintained these daily/weekly/monthly goals.
I also realised that this would take up to 5 years to grow. So I focused on the Long term and not be disheartened by the ups and downs of things outside my control which was the strang years in 2020 and 2021.
So now I am again focused on my Daily activity – taking this back to scratch. Suppose you want to chat with someone who has done this. I can share some insights with you.