Long time no see. I've been extremely busy launching my first book, adjusting to my new job and organizing my future. Don't worry though, To Brighten Your Day is back in action! This post was highly requested on my Instagram page for other entrepreneurs trying to figure out their way. As most of you know I left my corporate job last year, on April 1, 2017 to be exact and I have since been working for myself as a freelancer. But, after fifteen months of being out on my own I have decided to return to work full time and many people are wondering why. The assumption of course is that my business failed, forcing me to return to the employee world. But, that isn't the case for me, nor is it the case of many other entrepreneurs I know who have both a 9-5 and 5-9.
So, after a long and adventurous fourteen months of self employment, I have decided to return to work.
My company will still exist, though it will now operate differently. One-on-one consultation availability will be restricted to ten hours a week. The boot camp will move to a course and call platform, along with more digital products in months to come. The book has officially launched and is available for purchase on the site. If you would like to download a preview of the book click here.
Many people believe you lose all freedom, flexibility and overall ability to operate a company if you also have a job. But, I disagree. I owned Sonshine Enterprise for six month upon start-up while still working a full time job. At that time the company had started to bring in a profit and things were starting to turn downhill at my corporate job. So, I decided it was time to take the dive head first into solopreneurship. I had $8,000 in my savings account, a business plan and a great attitude. Though, I felt well prepared, many unexpected things occurred that I didn't plan for. I will share a few of the lessons I learned during that transition.
Pros of Self-Employment
*Uncapped income and opportunities
*Ability to spend more time with family
*No micro-management or authority to answer to
*Access to continuous education
Cons of Self-Employment
*Endless work days, many times working 60+ hours a week
*Your effort doesn't always match your results
*Family expectation change, they expect more because you're home
*Large workload to manage, everything from accounting, customer service, marketing and actual service/production.... a.k.a. EXHAUSTING!!!
Needless to say, after fifteen months, I burned out. Sometimes, I was spending too much time obtaining new clients, which resulted in a ton of work and a lack of sleep. Other times, I didn't focus enough on obtaining new clients or following up on warm leads. This would result in a lack of work and sleep! I set a goal for myself at the beginning of this journey. The goal was clear, I had twelve months to get back to my salary from my corporate job. If I didn't hit that value, I was going to return to work. Some months I blew that goal out the water and other months, I didn't. After summarizing all the income and averaging it across twelve months, I had to face reality. The flow of money was too inconsistent and it was time to start putting in some apps. I wanted two things out of my new role, flexibility and a job that I didn't have to take home with me. I was blessed with both of those things with my new position. I honestly don't regret returning to work at all. I gave myself enough time to learn, fall, bounce and bounce back. I struggled, I thrived and ultimately survived.
When determining whether you should bootstrap or dive in head first as an entrepreneur, take some time to reflect and plan your future. Check out my blog post, "Before You Quit Your Job" before you make a leap from your current job. Also, be sure to ask yourself these clarifying questions:
1) Are you currently profiting from your business? Can you project your income?
2) Do you have a business plan? What about a daily schedule?
3) Is your audience large enough to support you financially?
4) Can you get going today? Or do you lack resources or team members?
Nothing feels better than being a successful business owner, but it is not an easy feat. The key to success is planning, goal setting and execution. Always be ready to rework the plan, if you want to achieve your goals. Keep an open mind and stick to your grind!
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