Think you’re ready to quit your day job to be a full-time entrepreneur? It’s always better to look before you leap, so make sure you read this checklist before you close up shop in corporate America!
This is the plan you need to make sure you have every chance at succeeding on your own. Trust me, if I could do this, you can too. Let’s get right to it.
First Things First
Your first orders of business before starting your own business should be the following:
Use all your “free time.” In other words, any time you are not putting in at the office should be spent on getting your own venture up and going. Nights, weekends, holidays, put the time and effort in.
Reach out to fellow entrepreneurs for advice on your idea. Obviously, do not seek out advice from someone who doesn’t understand what you’re trying to accomplish.
Don’t get in your own way. I’ll admit, this is my biggest flaw. I always end up second-guessing myself and getting in my own way. Don’t let this be you. Prepare yourself for what you want to do and go after it. Don’t get hung up on the what-ifs along the way!
Get Your Finances In Order
Next, it’s time to get your finances in order. I think it’s best to save up so you could technically live for at least 6 months without having to have any money coming in. If you can save for a year ahead, that’s definitely better, but more challenging.
Take a look at what you can cut out. Is there anything you are spending money on that you can eliminate? Excessive clothing purchases or vacations? Use that money to save or invest in your business.
Finally, make sure you have bank accounts and payment processing set up for your business before you quit your day job. It can be a bit of work to get this all wrapped up, but having that done beforehand will eliminate a good deal of stress!
Assemble Your Team
You know that saying about finding your tribe? This is going to be your next step, but your tribe, or team, is going to be two-fold. Your support system is one component, and your professional network that you need to rely on is the second piece.
In regards to your support system, this is pretty imperative to being an entrepreneur. It gets lonely, and it’s no secret you lose a lot of friends along the way.
They either can’t relate and don’t really understand what you’re doing, get jealous once you start getting successful, or get annoyed that you can’t now spend every Friday night with the girls. You get the picture.
Honestly, start meeting strangers on the internet. Facebook has a bunch of great female entrepreneur groups, and I’ll bet you can find ones that are local to you that offer meetups. Another great resource?
Reddit. There are plenty of helpful groups dedicated to entrepreneurship, with members ready to help you with an idea or answer questions/solve pain points along the way.
Now for your professional team. Get yourself a knockout lawyer, even if you think you don’t need one yet. You’re also going to need a great accountant, and you might even be able to hire an assistant part-time or an intern to help you get started.
Keep Yourself Accountable & Get Organized
Keeping yourself accountable is really as easy as staying organized and planning things out in advance. If you’re planning on quitting your job and working from home, things can get messy pretty quickly.
Create a schedule and routine for yourself and stick to it as best as you possibly can. I know things can change, but you should get up at the same time, try to go to bed at the same time, and try to take lunch/schedule a break for yourself at the same time.
Another thing you should always stick to is planning your week in advance and blocking out time for certain key activities that will drive your business forward, like sales. Make sure while doing this you pick 3-4 things that are the most important for you to accomplish in a given week, and do what you can to get that done first.
Test Your Idea Thoroughly
Your final piece before you kiss corporate America goodbye? Make sure you test your new business idea thoroughly before you launch.
Ask for feedback on what your offering is. Test it out on real people. Do your research on competitors and figure out how you’re going to differentiate yourself.
Bre is a female millennial go getter residing in New York. One part entrepreneur, one part geek, she obtained her degree in Textile/Surface Design from The Fashion Institute of Technology.
She has held some exciting roles in both fashion as a designer working for brands like Victoria’s Secret and Henri Bendel, as well as in ad tech working for publishers like Ziff Davis.
Today she operates her own luxury label Bre Avery, along with Chip Chick Media which reaches millions of women each month.
Bre is passionate about teaching women how to build a business and be an entrepreneur, in addition to keeping her readers informed of the latest technology trends and exciting products to improve their lifestyles.
You can send Bre a message here.