Before I had a business and before I started writing my books, I had a day job, and was only a part time entrepreneur. Because I am a low-risk, high-reward personality, I wasn't going to give up the secure and regular income of my day job for the fleeting promise of entrepreneurship overnight. In my mind, success it guaranteed; it's earned, and not everything you do is destined to be successful. So, yes, I started out as a part time entrepreneur, but then grew that part time venture into a full time occupation. How did I do it? I used six simple strategies that anyone can easily replicate.
No. 1: I Found Balance
I made a schedule for myself. I went to work for eight hours each day, but then used a full day or two on the weekends to build my websites and finish the research I needed to for my ventures, making sure I was in compliance with national and state laws.
No. 2: I Set Goals
It's easy to start a project and not give yourself a time limit to finish it. I was determined not to make this mistake. I created a spreadsheet, full of reminders and deadlines for myself. I made sure to give myself enough time, however, to account for the fact that I was only able to devote 10 - 15 hours a week to my venture. I knew it would take me a little longer to build my enterprise, but I knew that giving myself a deadline would keep me focused. My goal? To be a full time entrepreneur in six months.
No. 3: I Put Profits in the Bank
Since my project was a dot com, it was easy for me to quickly turn profits. Everything I earned (after setting aside what I needed to for Uncle Sam) went into the bank. I put a dollar figure on what I would need in order to quit my day job and worked toward that goal. Naturally, I gave myself a time limit on this too.
No. 4: I Rewarded Myself
Every time I reached a milestone or hit a goal, I rewarded myself (and my family) with a dinner out or a movie -- my tastes are simple. This helped keep me motivated.
No. 5: I Automated Everything I Could
Since a dot com start up doesn't require a lot of hand holding, when I got my first website up and running, I set up auto responders to address emails I would get during my working hours. And while I still had to answer emails each evening and take a few hours to update my social media pages, I realized that was all part of the transition, and budgeted time and resources for that.
No. 6: Knowing When to Transition
For me, this was the hardest part. Even though I had enough saved up enough money to live on for a year, the idea of giving up the stability of my day job was scary. However, since I had a plan in place when I started my venture, I knew that I owed it to myself to jump once I reached that goal. When I got there, I turned in my resignation.
Quitting my day job at the right time was the best thing I ever I did. Today, I have two dot com start ups, investments in local franchises, a healthy bank account and an even healthier portfolio. Going from part time to full time entrepreneur was the best decision I ever made, but like everything else, it was all about the timing.
Do you have a plan?
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