Hello SOTGC community,
Making the decision to leave your current corporate position and become an entrepreneur can be nerve racking, especially if you have been groomed for the C-Suite. You are leaving something that is comfortable and secure to pursue your own dreams, which can sometimes be unpredictable. This is why it’s important to have an exit plan. This strategy will help you avoid leaving your current job in an abrupt way that will leave you broke and overwhelmed.
I was CEO for one of the top organizations in the world. I had it all: prestige, credibility, salary, and spreadsheets. We are proud to hold a top business school degree and are groomed for and become a slave to a fancy business life. On Sunday evenings my BlackBerry would decide my workload for the coming week.
Then it happened … I was out of a job. The rug was pulled out from under me. I interviewed for CEO positions from Maine to Miami. Then it hit me square in the head: there was something wrong with this life. I couldn’t stand the corporate bullsh*t any longer. One day I told my husband that I wanted to start my own business. He nearly fainted. Not because I wanted out but because he wanted out of his corporate job too. Here I am ten years later and I have never looked back.
It’s simple, and I want you to be real with yourself. Touch your heart for me right now. Hold your hand over your heart and answer this truthfully: if you could do anything in the world and make good money what would it be? Would you still be doing what you’re doing today?
Here are the five steps to leaving your J.O.B. and starting your own business:
- Discover your strengths – What are your super powers? What does everyone tell you you’re best at? Figure out your strengths, then …
- Evaluate your network – Who would want to work with you tomorrow? Who needs what you can provide? Who is your ideal client? Start by writing down five names, then ten, then your 100 top people in your network you can approach. This is your outreach list.
- Reach clients – How do you want to work with your clients? One-on-one, teams, or automation? Once you know your product and network, you can select a funnel that works for your business model.
- Build your product – Now that you know your strengths and your client needs, it will be an easy exercise to develop your product(s).
- Give notice and set up your company …
Take your time when planning your exit strategy. Remember, the whole point of having a strategy is so you have a clear game plan. If you rush into it without being clear on every aspect of your strategy, you will most likely find yourself in a risky situation.