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How to jump from employment to entrepreneurship

Save up for your next steps

Just having an idea won’t make you an entrepreneur. You have to take a look at how you can execute your idea and make actionable steps to make it happen. This means that you will be needing resources and you’ll be needing money to make your idea a reality. You’ll need to invest on equipment or people who can help you execute what’s on your mind.

Not to mention there are also risks when you’re starting out a new business. Calculating your risks will save you a lot of trouble but you have to be ready for anything. Do you have enough in your savings to keep your business alive for a couple of months while also paying your basic necessities like rent, food, water, etc.? Allot money from your paycheck regularly so you can be ready for your next steps toward entrepreneurship.

Realize that you can go beyond your current field

Maybe you’re a lawyer or an accountant right now but you’re tired of doing the same old things. Sure you want to build your own business and be your own boss but you think you’d have to build a law or accounting firm because you feel the need to stay in your field. Unfortunately, the sound of putting up a firm doesn’t excite you. Does this sound like you?

You don’t have to let your educational background or past work experiences dictate your future. If you want to build a business around something you are passionate about but it has nothing to do with your current line of work then it’s totally fine! One of the best things about entrepreneurship is that you get to do what you love doing. So go ahead and do just that!

Do your market research

Now, here’s the tricky part. Not every idea will sell. Before you go on building and eventually launching your product or service, you have to make sure there will be takers. How do you do this? Do your market research and see if your idea is something that will be of interest to many others.

The easiest question you can ask yourself to see if anyone would be interested with your future business is this – would this help anyone? If the answer is a ‘yes’ then you can begin to think of it as a good business idea. Do further research after asking yourself that first question. Gather data on current trends and see who your potential market could be and where they are.

Find a good mentor

One of the best ways to learn by learning from other people who have done it before you. Talk to entrepreneurs or businessmen and get some wise advice from them. There’s nothing like the wisdom of the experienced to inspire you to move forward and follow their lead.

Talking to people who have done it before will make you realize that whatever you’re going through at each step of your transition is quite normal. Hanging out with them will make you realize that what you dream of is absolutely possible. It will make you feel that your goals are attainable since others have done the same. Go ahead and find a mentor and realize you are not alone in this endeavor.

Build your network

Here’s one of the best things you can do while you are still in your 9-5 – build your network! You probably meet a lot of people inside and outside your company. Make sure you build and maintain a good relationship with them, because who knows? You might be able to collaborate in the future.

It might not be apparent how you can work together for a business now, but somewhere along the road you might realize that the person you used to work with in the office has something that can help grow your business.

It might not be apparent how you can work together for a business now, but somewhere along the road you might realize that the person you used to work with in the office has something that can help grow your business.

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