The alarm goes off and you smash the pillow on your face and scream. It is Monday morning and you are dreading making the commute to the office. Multiple thoughts are running through your head.
“I should call in sick.”
“When was the last time I called in sick?”
“Do I have any meetings today?”
“What will really happen if I don’t go to the office?”
“F-it, what am I going to wear?”
“Goodness I can’t stand (fill in the blank)
Yep you are experiencing a serious case of the Monday Blues. Sometimes I just sit and think about all of the politics involved in cube-ville. I could give myself an aneurysm with the serious eye roll I just did thinking about it. One more day saying things like low-hanging fruit, out of the box, bandwidth. My goodness make it stop! Or worrying about an acquisition, a merger, layoffs, or transitions. The pressure is overwhelming especially if you are finally over the politics of it all. Maybe corporate success and climbing the ladder are no longer your dreams. Did you know FreshBooks reported that 24 million people want to become self-employed by 2021 and leave the traditional corporate day job. Yep that’s a fact.
Have you ever dreamed about being your own boss and starting a business? Do you have a side hustle that you wish you could devote more time too? Are you smiling right now thinking about your side hustle? Maybe it’s time to make that side hustle your permanent hustle. Let’s talk about a few signs that you are getting ready to become your own boss.
Wait, before we dive into that I want to give you a few more facts to think about. Ever heard the term “freelancer”? It’s basically a fancy word for a self-employed person who takes on contract work for individuals and/or companies. Nasdaq predicts that freelancers will increase to 43% of the workforce by 2020. While reading up on this fact I found that remote employees are 13% more efficient than office employees (Stanford said it). Gone are the days of having to have brick and mortar, tons of people work in their homes and/or remotely. Technology has been a disruption to the everyday office employee. This could be a good thing when you branch out, you won’t have to worry about leasing office space (insert happy dance).
Okay back to the signs…..
- You have discussed the idea with your friends and family multiple times and have a soft business plan drafted.
- Corporate success isn’t a goal anymore and you are tired of the rat race (no offense to the rats).
- You have fulfilled your professional goals and looking to accomplish something different.
- Tired of showing up and pretending to be something you’re not.
- Want to follow your passion and express your creativity.
- Jealous of the free-spirited entrepreneur that makes their own rules.
Maybe it’s time to put some meat behind that draft business plan and make it a reality. There are several resources out there that can assist in making your dream come true. Check out the SBA website there is a guidebook that will help with a lot of the leg work. SBA also has suggestions on counselors and an awesome learning center.
Not to be a Debbie-Downer, (random, what do we have against Debbie’s) there are some risks to being your own boss. You have to remember your clients will ultimately run your life. As the old saying goes, the customer is always right. I mention this because if you have a needy client and they expect you to be there any time they need you, you will have to factor that into your life. Again, technology is a disruption and if you get a bad review this could hurt your business and referrals will be your livelihood. Quick tip, set expectations in your contracts.
Deadlines and commitments are going to have to be met at all times. You no longer have any back up and most business people don’t expect to hear that your dog ate your homework. This will become a different type of stress but remember you make the rules.
Money is the key to end all your woes (great song). You will be spending your own money. The money you earn is the money you earn. Managing your finances is a hard thing to do on your own. The corporate finance department is sitting at the table with you. Let’s not even talk about hiring, that could be a whole ‘nother blog for a later date.
To all you Divas (Beyonce told us that a Diva is a female version of a hustler) out there, is it time to step out on your own? Take the time to map it all out. Weigh out the pros and cons. When you are done analyzing the data and your ROI is looking good, GO FOR IT!