How to Prepare to Leave the Corporate World?

corporate world, your own business, business

If you are considering leaving the corporate world, it can be challenging, but it’s possible. In this article, I’ll cover a few ways you can start creating momentum to launch your own business. Taking your time to build your venture on the side is a great way to learn, gain experience, and grow your business with the security of a stable job.

Here are some things to help you be better prepared for jumping ship and going alone.

Don’t Be Hasty

I wouldn’t recommend just quitting your job. Unless you have ample financial reserves to keep you afloat for a long time, don’t. In fact, it’s better to start building your business on the side while you are still employed to avoid finding yourself in a desperate situation.

Consider thinking about the following:

  • Plan your resignation in advance. 
  • Be financially prepared for going it alone.
  • What do you need to be able to run your business?
  • What skills and knowledge do you need?
  • What will you be able to charge?
  • Where will you attract customers?
  • Do you have an established business network?

You never really know how things will go. Perhaps it takes three months, maybe six, it could even take a year or more to establish a stable income. It might take time before you can even match your current income. You don’t know. And it is a massive risk to take a gamble like that.

Set a Deadline for Motivation

Start with the end in mind. If you don’t set a deadline to get your idea off the ground you are never going to get started. Choose a date, give yourself enough time, say at least 6 months. It takes time to build any business. Realistically it might take longer. The key is to set things in motion to move you forward toward the objective you have set.

Consider how much time per week or month you can set aside to build your side hustle. Will it be enough time to plan, research, and start building a viable business? By the time you leave your position, you want to have something that is at least starting to gain traction. That has momentum you can continue to build on.

Read More : Is Affiliate Marketing a Legit Way to Make Money?

Assess Your Finances Carefully

Probably the most important thing to consider is your current financial situation. The more stable you are the more you can focus on your business. But if you are struggling to make ends meet, or have little to buffer you, you are taking a huge risk leaving your position. Rather continue to build your business for longer and make sure you are generating income first before resigning.

What is Your Financial Situation?

  • Will your partner or spouse be able to cover certain costs with their salary while you build your business?
  • How stable is your financial situation?
  • What financial capacity do you have?
  • Do you have large amounts of debt?
  • Do you have high expenses and no savings?
  • How much have you got in savings?
  • Do you have money invested that could be used if you need it?
  • What expenses could I drop, and cut my overall expenditure?
  • How much debt do you have, do you have any installments to keep up?
  • What will you do if things don’t work out, what is your back up plan?

You need to weigh up your current financial situation, your savings, investments, and what the knock-on effect will be if you start your own business. There are always unexpected expenses and costs, so be prudent. And depending on how far your business is, it might take longer before you are able to cover all your expenses. 

Do Your Research Thoroughly

Launching blindly into a venture is foolish. Don’t dive into it blindsided. Take time to investigate the ideas you may be thinking of pursuing. The internet offers no shortage of resources for this. Here is a list of ways to build a solid foundation of research:

Google It!

Okay, any search engine will do! The secret to deep research is don’t be superficial. Dig deeper. Seek out valuable resources and content that can help you understand what you are getting yourself into before you jump ship! 

Follow People on Social Media

One way to learn more is to hear what others are saying about your desired business. If you want to learn more about digital marketing, follow digital marketers. If you want to learn more about blogging, follow bloggers. They are consistently sharing gold, so why not collect it while they give it away…

Scan Forums

There are forums like Reddit and Quora that can offer a hive of interesting information about all kinds of topics. Search out relevant forums that align with your area of interest and search content, ask questions and engage with the community.

Industry Hubs

There are many rich sources of information from industry hubs that share best practices, latest trends, information, and even host events you can attend. Search these out and join their mailing list to keep informed and up-to-date with events and articles.

Read More : 8 Social Media Platforms to Promote Your Business

Established Companies

There will be established companies that you could search for online. See how they engage with their audience, what information they share, and see what they charge. Researching companies that are doing what you want to do, is a great way to understand how to position yourself in the market and be competitive.

The key is to do your homework before jumping into a new business, as you’ll be far better able to handle challenges if you are prepared for it.

Take it Step by Step

Building any business is a process! It takes time. And you need to be patient. Break down the goal of your business, into small incremental steps. Make it attainable. Easy to comprehend and face. If you make your business into one massive mountain, you’re going to feel overwhelmed and probably not even try.

Conclusion

If you want to leave corporate life behind, it is possible. You can do it. But take time to prepare for it, get organized, and start building your venture on the side. Do it while you have financial security. Once you jump ship, you are on your own. If things go bad without the proper preparation and planning, you might very well regret it.

Get started today, and give yourself at the very least a few months to build the momentum you will need. How long you need depends on many factors, the key is balancing the risks. Don’t be hasty, be patient, and build a strong foundation before you take the plunge!

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Why People Burn Out from Climbing the Corporate Ladder?

Many people envy corporate life as the ultimate destination for success. The place where the money is. Where you climb the ladder of success to your dream position. Yes, that’s what many think about the corporate lifestyle, especially those that haven’t worked in such an environment before. Yes, the salary might be great. The perks may be exemplary. Maybe you even own all the things you ever wanted. But eventually, the corporate glitter and glamour may fade to grey as you find yourself trapped in the prison of your own making.

The corporate world offers many opportunities, but it has its disadvantages.

In fact, as I scouted forums and social media, I found some interesting posts from folks worn out, burnt out, and fed up with corporate life. I realized it’s not just me feeling this way. There are many people that feel the same way. And I don’t blame them. Because I’m there. It’s the reason I started Launch Digital Freedom in the first place. As a way to build a bridge forward and out from where I am to where I want to be.

After almost 2 decades of working in the corporate world in software development, I reached a point where I had just had enough. I was tired of the daily stress of wading through hours of peak hour traffic. Tired of sitting in my office working at my desk hours on end being dictated to by my company. And above all the escalating stress.

But what I really find interesting is what I found in my research, and I’m going to share what many people seem to be saying about how they feel about working in the corporate world.

Obviously, I won’t be mentioning people’s names, but rather I will be paraphrasing what they said.

Find out more about : A Blueprint to Start Your Online Business Faster!

Time Spent Traveling

One of the biggest downsides of living in a city is traveling time. Depending on where you work, you may have to take the bus, subway, and travel for long periods of time. Not only can it be exhausting, but also add up to so much time lost. Often you have to leave early in the morning to make it on time to work. And then of course there is the journey back home again in the evening. Many people stated they hated leaving for work when it was dark and then arriving back home after the sun had set. Over months and years, this can take its toll on the most enthusiastic and committed individuals.

The Work Environment

One of the first posts I found was someone complaining that they felt like they couldn’t be themselves. Rather they had to put up a facade that felt unnatural and wore them down over time. People seemed to want to be in an environment that allowed them to feel natural and accepted. Someone who had been in the corporate world finally packed up to move to a smaller town and take a smaller job to live a more simple and easy-going lifestyle. Another said they gave up everything to take a job where they could walk to work. They felt happier to be in a more casual environment and have more time to follow their own interests.

Some people decided to leave their jobs to pursue their own businesses. They said they were prepared to take a salary cut, and even the security of a corporate job to do their own thing. They said they were bored and unfulfilled and felt like they needed a new challenge.

Many people seemed to mention they hated being micro-managed and told what they could and couldn’t do around every corner. Many said they felt they were trapped and were not able to express themselves in fear of reprimand. These are just random examples and may not reflect every corporate environment. I’m not saying the corporate world is all bad. I am saying over time it may feel like it’s not for you, and you may feel like you want a change.

The Stress Factor

One of the reasons many people stated as a reason they wanted to leave their corporate job was because of the escalating pressure. Many felt they were constantly under pressure to finish work projects and often worked on weekends. Sure we all know you need to work hard to get anywhere in life, but it has to be sustainable. There is just more to life than staring at your computer screen, having endless meetings, and phone calls, and stressing about work.

Not only is it unhealthy, but it’s just not enjoyable or sustainable long-term. Many people just start feeling unfulfilled with dedicating so much of their life to an organization where their very position isn’t even guaranteed. In fact, since the pandemic, many people have found out firsthand that there are no guarantees you won’t lose your job.

Lost Time with Loved Ones

Probably the most important reason many felt they’d rather leave the corporate world for a simpler life was to spend more time with their spouse and children. Many felt that they were frustrated that they had to spend so much time at work. Some said they were prepared to simplify their lives and earn less to be with their loved ones. One person stated that if they were on their death beds, they didn’t want to look back and think they worked themselves to the bone for a company. And failed to spend time with their family doing what mattered.

Why : The Perfect Time to Launch Your Business is Now!

A Way Forward

So what can you do to get out of the corporate world if you’ve had enough of it?

Start looking for opportunities that could help you start a side project you could possibly launch into a full-scale opportunity.

Take the time to start planning your exit, you don’t want to leave your job without at least a plan in place. Best to start creating the momentum now. Once you have enough in place then take the step to your own happiness!

If you are interested in learning more about how to build an online income, feel free to look around or take a look at the Six Figure Mentor program which has helped me start building my own online business.

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