The average employee will work 40 hours a week until the age of retirement (if they’re lucky to stay with one company) but with the economy in shambles, many people are looking for new alternatives to the proverbial rat race – this escape is through becoming their own boss.
The transition from employee to entrepreneur can be at the spark of an idea or crafted over years of precise learning. An entrepreneur is not born although there are those that seem to start from the very beginning; in actuality, everyone has the ability to become an entrepreneur but it requires passion and drive.
This article will explore the transition from employee to entrepreneur.
♦ Phase 1: The “spark”
The first phase in the transition from employee to entrepreneur comes in the form of the spark – the inspiration to start their own business. For many the spark has always been in them while others it happens out of the blue. Listen and be ready to chase your dream once you feel the drive swell in you.
♦ Phase 2: The “transition”
The next phase is when an employee begins to develop ideas and plan for their success. The itch to start a business grows and it soon becomes apparent that working at their current job is not their goals in life; it’s chasing their own dreams of starting a business. If you’re in this position, you’re probably collecting all of your ideas before taking the plunge.
♦ Phase 3: The “testing grounds”
Third, testing the grounds is what many employee/entrepreneurs today will do first; they will try out a few of their ideas in their free time or request time off so that they can pursue their passion. This phase of the transition often will be the make or break point in many as it tests a person’s drive and passion to chase their dreams.
♦ Phase 4: The “all or nothing”
After the testing grounds have been explored comes the mighty plunge into full on entrepreneurship. At this phase, employees often leave their jobs with the full intent to create their own business; this phase is very rocky for many because they’re off on their own without a security net – it’s also the most exhilarating. Passion is what matters most here as there will many frequent ups and downs for the new business owner.
♦ Phase 5: The “success or bust”
Finally, there will be a point where it’s either success or bust. For those that success, riches and freedom await but those that fall short, going back to square one is often the case. However, even if a person does not success the first time the entrepreneurial spirit still lives on and they will often try again until they get it right. In due time an employee can transition to business owner, it takes a few phases but the benefits at the end are all the more satisfying.