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How To Transition From Employee To Business Owner

29 July 2008 One Comment

I have been hard at work on a couple online businesses that I’m trying to get off the ground. This blog, 20s Money, is one of them, and has been fairly successful. However, it is extremely tough to quit your job and make the jump to business owner. Plus, it’s very risky and stressful. In this post, I will discuss my efforts to transition from an employee to a business owner.

Full-Time Employee, Part-Time Business Owner

At this phase in my life, I work my job full time and build my side business up during the hours outside of my main job. This requires hard work and dedication as you are forced to work longer and more of the day.  Waking up early to work an hour or staying up late to work a few hours can be tough to sustain over several months or even years.  However, this method of transition is much less risky since it doesn’t require you to give up your income and jump fully into the role of business owner.

Persistence

The most important quality to successfully transition into business owner is persistence.  It can be easy to give up your efforts and hard work when you are continually tired and not seeing many results from your efforts.  It is important to realize that you will not see big results overnight.  In starting a blog and attempting to monetize this blog, the progress is slow.  However, there is progress.  As he progress becomes more sustained, the more encouraging it becomes and the easier it is to continue working hard.

Use Your Job To Prepare You

Lastly, being a business owner requires different skills than being an employee.  Talk to your boss about getting the necessary exposure in your job to be exposed to skills that will benefit you as a business owner.  A broadened skill set outside the scope of your basic job responsibilities can only help you as your transition towards a business owner.

The End Goal

As you can imagine, the end goal of this entire process and all of the hard work during the transition is to eventually become a full time business owner.  It is my hope to eventually have a handful of extremely successful online businesses that require 20-25 hours a week to maintain.  Because I have this end goal in sight, it helps me push on towards this goal when I get burned out from working overtime.

Do you have a business you are trying to transition to while you continue to work your job?  Share your story by adding your comments!

One Comment »

  • Greg Rollett said:

    You hit it on the head man. I am working the 9-5, then hitting it hard from 6-12 everyday to get things off the ground. Luckily, if you love what you are trying to do, it makes it easier. The hard work now will only make the payoff better.