It’s easy to become green with envy every time you hear someone announce they quit their job to become their own boss. Most people only share the good when it comes to working for yourself. What they don’t tell you is how they prepared themselves for the entrepreneur life. Quitting your job is definitely a soul soothing feeling. Especially when you’ve planned for it. Today, I’m breaking down what I did to become my own boss before quitting my job.
Four years ago I quit my job as an office manager at a hedge fund to pursue my dreams of becoming a full time blogger and entrepreneur. Before quitting my job, I had been working there for ten years. For five of those ten years, blogging was a hobby for me. It wasn’t until my 2nd year of blogging that I realized I could actually quit my job and make blogging my full time career.
Before I quit, I made sure there were a few things in order. I knew once I quit, there wasn’t going to be any turning back. So, I knew I had to prepare myself. Here’s what I Did.
I Treated My Blog Like A Business
Whatever your side hustle or passion project is, you have to treat it like a business from the beginning stages. When I started blogging and developed a following, I decided to create a simple business plan for my blog. It wasn’t anything too extensive. Just a simple layout and breakdown of my goals.
These goals included action steps on how I would continue to grow my following. What new features I would implement. My plan even included what other opportunities I would create for my self outside of blogging but within fashion. In addition to creating a business plan, I started creating set rates for my services. Each month I wanted to hit a specific financial goal, so I mapped out what I would need to do to get there.
Also, I got myself business cards, a PO Box, and a separate business email. To track my revenue, I created an Excel spreadsheet. For monthly projects, I created a project manager Excel sheet to make sure I was getting my work done on time. This was even helpful in aiding me to know if I was creating enough work opportunities for myself. I even created my own letterhead for sending out invoices and correspondences.
Invest In Your Business
Investing money back into your business is something all entrepreneurs will tell you. You can’t just spend up all the money you make. Yes girl, its tempting to do so but you have to have some discipline.
Any money made from blogging was put back into my blog. I’m not going to lie and say all the money. LOL! However, most of my blog income was reused to pay for my web designer, camera equipment, studio time, staff writers, online courses, and whatever else I needed to make sure my blog was going to grow and be profitable.
Save Your Money
Before I quit my job, I created a savings plan. My goal was to be able to make my same salary as a blogger that I did as an office manager within the first year. Saving money was a way for me to be able to sustain myself once I made the transition from office manager to entrepreneur.
I saved money from both my full time job and blogging. Creating a nest egg was important to me because I have a son. I didn’t want his lifestyle to drastically change. Books on money saving habits were extremely helpful. Of course there were times when I fell off the money saving wagon. When I thought about my purpose and goal, I got back on board.
Network With Other Entrepreneurs
One of the most valuable things you can do as a business owner is network. Connect yourself with people who are doing what you want to do. Talking to other influencers about life as a full time blogger was priceless. I reached out to a few different bloggers. I took them to lunch (my treat) and asked them to share with me the good, the bad, and the ugly of becoming your own boss.
In addition to talking with other bloggers about the becoming your own boss life, I connected with other entrepreneurs from various industries. I went to industry events to meet PR execs, social media managers, journalists, and people who could potential become clients. I wanted my network to be a diverse group.
Building a strong network of your peers is essential to having success with your business.
Give Your Job Enough Notice
Fortunately, my employers were some of the best bosses anyone could have. Since I had a great relationship with them, I didn’t want to just up and quit one day. Most jobs request you give two weeks notice. However, I gave one month’s notice. I was raised to always leave your job on good terms. You never know when you may need them for something.
Talk To Your Family & Friends
While I made the decision on my own to leave my job. I had to discuss this with my family. One reason was for support and the second reason was to prepare them. Having your friends and family by your side supporting you makes the transition so much easier.