Are you thinking about moving from employee to entrepreneur? Over 50% of Americans want to start a business. And when you get to those in their 20’s and 30’s, that number increases to about 65%. Other countries have similar statistics. So if you are thinking about becoming an entrepreneur, you are in good company. But, how do you prepare to move from employee to entrepreneur? I am currently helping one of my clients, Bob (not his real name), who is preparing to make this transition from employee to entrepreneur. Here is a quick snapshot of the process we have been taking.[featured-image single_newwindow="false"]"Another Gorgeous Outer Banks Sunrise" by Michael Bentley licensed by CC 2.0. https://creativecommons.org/licenses/by/2.0/ Edited with text. [/featured-image]Click to ListenEmployee to Entrepreneur TransitionA few years ago, my wife Lea and I felt like God was leading us to go into missions work. So, we began to seek counsel, starting with our pastor. He asked us how much we had been involved in missions in the past. Lea and I looked at each other oddly and realized the answer was almost none. Our pastor then made this statement that has stuck with me: “You do not go into missions, you grow into missions.”Since then we realized the missions work God had for us was much different than what we typically think of as missions, in fact, it was serving others through business, writing, and podcasting. But the lessons I learned from the pastor have stuck with me. As a faculty member and coach, I often find I am working to help people “grow into business.” You do not go into business, you grow into business. "You do not go into business, you grow into business. #entrepreneur"]So as I began to work with Bob, I wanted to help him grow into his business. Just so you know, Bob actually likes his day job, and may never quit. Yet, he is feeling trapped. He wants to become independent so that the daily turmoil of the corporate setting does not create stress for him and his ability to pay his bills and provide for his family. Bob is looking for a lifestyle business, one he can do on the side now and get freedom but may one day do full time.1. Get Control of the MoneyMost people in industrialized countries are in debt. Each month part of their income goes to pay for student loans, credit cards, and automobiles. And, their spending habits keep them in this trap. Are you in this trap? Make a list now of the debts you have. Who are they and how much do you owe each. Look at how much you spend month-to-month just keeping up with the minimum payments.If you want to make a transition from employee to entrepreneur, you need to get control. Starting with a budget and paying off debt will free you from many of the traps that keep people in their day job. I am not a financial counselor, so I will point you to an excellent source to get out of this trap - The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness.2. Start Your Business as an Income SourceOnce you get a plan for the money and start working the plan, you now need to start a second income source. You could deliver pizza, but that will get you no closer to your goal. Instead, start your business. But, start it in a way that generates income instead of costing you cash. For instance, if you ar
Dale Callahan, Ph.D.
Business Coach for Professionals Ready to Take Control Helping you move from stuck to in-demand — or start something of your own.
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