What’s the best way to be your own boss?
How do I escape the 9 to 5 workday grind?
So you think you are ready to make that jump from your 9 to 5 into full-time entrepreneurship but yet you hesitate.
You have every right to hesitate because this transition is not something that should be taken lightly. There’s more to being your own boss than just deciding to quit your day job.
It is not just a physical shift of your space but a full-blown mindset shift working for yourself.
You go from answering to a boss to answering yourself. You spend some days really crushing all your goals and some days in a fetal position just crying your eyes out because you just do not know where to go from here.
Entrepreneurship is not an easy journey at all but with the right strategies, you can get it done with the least pain. Today, I want to share with you some practical tips to get you ready for this jump.
Remember it takes work and it does not happen overnight. You know the old saying… Rome was not built in a day… and neither will your business.
So let’s begin with these 8 simple steps to being your own boss.
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8 Steps to Becoming Your Own Boss
Step #1: Set a Goal!
I know you have heard this countless times, but let me tell you that this is the number 1 mistake many people make. They just decide to leave. Big mistake.
A goal helps you to start with the end in mind so you can work backward by taking actionable steps to get what you truly desire in life. In addition, I encourage you to write out your goals and get them out of your head.
Napolean Hill said, “a goal not written is merely a wish list” and he was so right about that. Writing out your goals increases the likelihood of it actually happening.
👉🏽 RELATED POST: Intro to SMART Goal Setting for Your Passion Project
Your goals should include the following:
- What date you want to leave
- How much money you will need to have set aside in order to leave
- Exactly what you are going to be leaving your job to do
- What do you want to be known for
- Who will you be serving
You should set a SMART Goal – Specific, Measurable, Attainable, Realistic and Time-Bound. Whether you agree with this approach or not because it is always up for debate, the fact remains that the first step is setting a goal before you start.
And when you have set up this big goal, break them down into smaller “mini goals” so that you do not become overwhelmed. The point of your goal is to get you to take action, and not be paralyzed by fear. So break it down until it looks and feels manageable and then get into action!
👉🏽 RELATED POST: 6 Simple Secrets to Setting Achievable Goals
Step #2: Do Your Research
Not because the idea sounds great in your head means it is the best idea for a business.
You need to conduct market research on the product or service you want to launch so when you go full-blown as an entrepreneur, you do not waste time and get right into making some money!
Research allows you to identify the very best clients for your business, the best price to charge and how to promote your idea when you decide to launch.
How do you conduct research?
- Try doing an online survey with free tools like survey monkey
- Ask your friends and family for their opinion
- Run an online poll or two
- Do sampling/pop up shops
👉🏽 RELATED POST: How To Start A Profitable Business That You Love
Some of the questions you may want to ask during your research phase are:
- What challenges do you have?
- Would you buy this product/service?
- How often would you buy it?
- How much would you pay for it?
- Do you currently use or have bought anything similar?
- Why would you pay for this product/service?
To be your own boss you need to know the right questions to ask at this stage will help you formulate a great marketing strategy and also help you speak directly to your ideal clients.
Step #3: Test the Market
Remember I spoke about doing sampling in the last point? Well, that is a great way to test the market.
You want to get a sense of if your business idea solves a challenge that your ideal clients have. If it is something that people want and need and if they will spend money consistently buying it.
Testing the market will also help you narrow down on your marketing and sales efforts so you do not waste time, money or resources while you are in business.
👉🏽 RELATED POST: Going from Side-Hustle to Full-Time
Step #4: Start While You’re Working
Do not make the mistake of trying to start only when you have left. You need to start while you are still working your full-time job.
Do you think that will make you tired? Wait till you actually start to work for yourself, then you will experience real tiredness… but I digress.
Why start before you quit your 9 to 5?
- Because you won’t be depending on that income to live
- Because you can use your present income to invest in yourself (which is something we will also talk about)
- And it will test your time management skills
👉🏽 RELATED POST: Quit Your Job Quotes
Just a word of advice. Do not use your employers’ time to run your business.
Think about when you get staff, you would hate for them to use ‘your’ time to be doing their business, so please do not do this to your present employer. But take full use of the hours before and after work as well as your breaks in between.
👉🏽 RELATED POST: How to Set Goals To Escape Your 9 to 5 Life
Step #5: Get to Know Your Money
You need a budget. No compromise.
Your budget should include all the money you spend presently in order to survive.
How much money do you need to earn every month in your business to ensure your bills are paid and that you are living comfortably?
This is important for a number of reasons. It helps…
- With your goal setting
- You decide how much to charge for your product or service
- To understand how much you need to sell every month
👉🏽 RELATED POST: Can I afford to Quit My Job?
One of the hard parts about being your own boss is that you have to know how to manage your money, spending, expenses, and taxes too.
Step #6: Invest in Yourself and Your Business
Take the time while you are still working full time to invest in yourself.
Do short courses and buy books and essential tech that you know you need to run a successful business.
Need to learn about marketing or social media strategy? Buy books and courses.
Do you need a new computer, maybe a camera or other equipment? Get what you need when you can afford it.
The reality of being self-employed is that it takes a while to turn a profit. Investing in yourself while you have a steady income to eliminate the stress of having to pay for those things when you become a full-time entrepreneur.
👉🏽 RELATED POST: The Best Essential Tech for Starting Your Business
Step #7: Get Your Mindset Right
Working for yourself takes a level of commitment and fortitude that not many people can endure.
To run a business you need to be your biggest cheerleader. You need to believe in yourself and your brand and understand that you are in charge of everything that goes right and wrong, even if you have a team.
You are the boss, the CEO, the CFO, and the marketing director. Understand that you have to answer to you every day.
You can practice some daily techniques to get you in the right mindset for entrepreneurship:
- Journaling your wants and desires every day
- Saying daily affirmations which confirm how awesome you are
- Creating a vision board that you can refer to every time need inspiration
- Daily meditation allows you to get into the zone of genius
👉🏽 RELATED POST: 10 Habits that Teach You How to Be Successful
Step #8: Surround Yourself with Successful People
Successful people hang out with other successful people. Because success is contagious!
So if this is your goal and you know that you are destined for greatness then find people in your circle or in your network who are also running successful businesses and spend some time with them soaking in their aura.
If this is a challenge then here are some places you can start to look:
- Networking events. Join your local MeetUp groups and social events
- Social media groups which have countless successful people pushing hard to do even more
- Reach out to somebody you admire and ask them to mentor you
- Connect with someone who is doing what you want to do by email
👉🏽 RELATED POST: 8 Reasons Why an Entourage Can Help You
The point is to find more successful people who will encourage you to do better, work smarter and also be successful.
From day one, treat your business like a multi-million dollar empire, not like a side hustle and you will reap the rewards.
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Being your own boss starts with you creating a strategic plan to follow, where you’ve:
- Set a goal for yourself that SMART and has “mini” goals
- Do your research into your possible business venture
- Test the market by sampling potential clients
- Start now while you’re still at your day job
- Get to know your money by creating a budget and sticking to it
- Invest in yourself by taking courses and acquiring the equipment you need
- Get your mindset right, you need to be your biggest cheerleader
- Surround yourself with people who are already successful
If you want to make it as an entrepreneur you need to take it seriously.
To be the boss, you need to plan like a boss.
Want to be your own boss? Ready to become an entrepreneur? Here are the 8 simple steps between your 9 to 5 and freedom. #QuitYourJob #BeYourOwnBoss #Entrepreneur #Success
How are you preparing to be your own boss?
More About Guest Contributor
Adanna Austin is a renowned Caribbean Master Business Coach based in Trinidad and Tobago, operating across the Caribbean Region. She has supported more than 500 entrepreneurs to develop a winning mindset, increasing their profitability by 50%, resulting in 35% of new sales and clients. She is also a prolific Conference Speaker and Writer and founder of Marketing Dynamics Business Solutions.
Last Updated on November 3, 2024
Vanessa Palma says
My favorites are steps 4 and 8. It’s wise to start while you have a secure job with a paycheck. It’s also so important to surround yourself with others who are successful and have the right mindset to help propel you forward.
adanna austin says
Glad you enjoyed the post Vanessa. Those steps are so very important. Starting while you still have a job maintains your sense of security as you build and being surrounded by people who have already done what you are now planning to do does wonders for your mindset and motivation.
Sapphire Kharyzma says
What an amazing post! You’ve covered some great tips. I am in the transition and I love it, yet it can be so scary! But, I have no regrets about my decision to be my own boss! Thanks for sharing this 🙂
adanna austin says
It definitely can be scary and that’s why planning is so very important. I wish you the best of luck in your own business.
Melissa Dixon says
There is nothing more rewarding than being able to do it all. I love being a mom, wife, and business owner, it really gives me the confidence I need to get through even the hardest situations. I love being my own boss and not making everyone else rich finally! Working hard for myself is the best way for me to get ahead, not working for someone else. These are great steps to take to get there!
adanna austin says
I am so glad you loved the steps. Being my own boss is the most rewarding thing about my existence. Having control of my day and my finances makes it all worth while.
andrea says
I have found doing your research is a game changer. I read other blogs, but I agree you can’t take things at face value you need to look into them yourself.
adanna austin says
There is nothing better than doing your own research. Do not take anything for granted. That was a big lesson I also had to learn. Glad you enjoyed it!
Sue Reddel says
So many great ideas here to keep yourself motivated and moving your business forward. I especially like setting goals and managing your budget. I’d add taking time to celebrate your wins. You gotta do it!
adanna austin says
Oh yes! celebrating your wins both big and small is a great way to keep motivated on this journey. Even the smallest wins can make a big dent in your progress. Glad you loved these ideas.
Jenn says
These are great insights. I’ve thought about quitting my day job several times over the years, but it’s not likely to happen anytime soon.
adanna austin says
Glad you liked the insights. IF you do decide to move on from your day job, just be sure to have a plan in place so the transition is a bit seamless and less frustrating.
Dada says
This post really encouranging people to go for it…but not without a plan! I think it its important to connect with a lot of people that are already in the business like you mention. It might open a door that lead to where you want to be!
Adanna Austin says
Being around like minded people and people who have walked the road you are about to embark on makes a huge difference.
Deimarys says
You have some excellent and useful tips. Definitely saving it for later. I need to take some notes.
Adanna Austin says
Glad you enjoyed the tips
adanna austin says
Having a plan to make the leap is paramount. Without a plan, many business fail under a year of starting. I am glad you enjoyed the post.
Michelle Cantu says
Great tips, I love the timeline you give to achieving a goal. Most often we get blinded by an idea and just drop everything. You really do need to plan, save and invest first.
Adanna Austin says
Exactly. Many times we are too hasty and that is why our business collapses before it even had a chance to blossom.
Plan plan plan
Tasheena @ SimplyTasheena.com says
This post is really informative. I agree that it’s very important to set a goal and to always remember your “WHY”.
adanna austin says
Glad you enjoyed it. Definitely knowing WHY you are going into business makes it alot easier to stick to your goals/plans.
Amila Wickramarachchi says
These tips are really helpful for anyone who plan to work on their own. I left my full-time job few years ago and now I earn working from home. As a mom for a little kid, I always need to follow a schedule to utilize the limited free time I have. I also find that it is helpful to have a mentor.
Adanna Austin says
A mentor really does help with guidance. Glad you enjoyed it
danasia fantastic says
These tips are incredible! I started working for myself full time last March and it has been the hardest, but most rewarding thing I’ve ever done.
Adanna Austin says
The rewards are so great. Congrats on your transition to full time entrepreneur
Bites for Foodies says
These are definitely some great tips. I firmly believe that positive daily affirmations really really work. They are constant reminders about how to keep a positive and inspiring mindset!
Adanna Austin says
Agreed. Affirmations and journalling helped me so much on my own journey. Glad you enjoyed the article.
Cynthia Nicoletti says
I have been my own boss for many years. I do agree one of the most important things is to set goals. It can be so rewarding. You have to put your all into everything you decide to do. Great information !!
Rose says
I think a lot of people would love to be their own boss. A plan is definitely essential and focus on as many angle as possible. Having finances in order to support yourself and your new beginning’s would be the hardest part.
Adanna Austin says
The financial part is what makes alot of people get stuck. That is why not just having a plan but creating a budget and sticking to it is paramount as you prep to make the leap.
Mel Butler says
You have some great tips for someone starting out. I left my full-time job two years ago to work for my self and I have to admit it has been hard work but I love it so much. You so right know you need to have the right mindset for sure and set gorls
Adanna Austin says
It definitely is hard work but I would not exchange it for the world. Following these steps really helped me and I hope they can help many others
adriana says
This was such a great read! There are so many more pros than cons to being your own boss. I love your first point – setting goals and having things you what to achieve makes a huge difference! The sense of freedom you have, though, is amazing!
Adanna Austin says
So glad you enjoyed it. Without a goal, the transition is so much harder. The goal also helps to keep us focussed.
Adanna Austin says
So glad you enjoyed it. Without a goal, the transition is so much harder. The goal also helps to keep us focussed as entrepreneurs.
miranda says
great tips! I love how detailed the article is! it makes it all seem possible, which it is.
tips worth noting
Adanna Austin says
Glad you enjoyed the tips. They are all definitely doable.
Adrienne says
Such a great post! I completely agree that following a strategic plan is essential to getting things accomplished as an entrepreneur. Thanks for sharing!
Adanna Austin says
You are most welcome and I am glad you enjoyed the post
Jana says
I love reading your post. all the tips are so good and helpful and I need to start with #1 and try to follow. Thank you for sharing
adanna austin says
You are most welcome Jana. Glad you enjoyed it.
Anosa says
Such a very inspiring article. I believe I have read something like this but this post makes me more immersed. I was able to reflect more on this and yes I super agree to surround yourself with successful people.
adanna austin says
Glad you enjoyed it. Who you surround yourself with makes a great impact on how quickly your business grows as well. Keep at it!
Kendra says
These are all great tips! The start while you’re still working part is a challenge for me, even though it makes the most sense. There are days I just don’t want to get up and make the commute to my full-time job anywhere, I am just ready to start working from home full-time but I’m doing well with being patient and knowing that it will eventually come.
adanna austin says
It does take alot of patience. Just set a goal and a date by which you want to leave and then keep working at it until you get there. It is right around the corner. I promise!
Neely Moldovan says
This is great information! pinning for people!
adanna austin says
Glad you enjoyed it!
Nicole | Glamorously You says
All of these tips are fantastic! I am in the process of getting my business off the ground after leaving my 9 to 5. It’s a big step but also a gratifying one!
adanna austin says
Massive step. I wish you all the success on your new journey!
Morgan says
Excellent step-by-step on beginning the journey of entrepreneurship! Very good tips that I will be utilizing!
Ariel says
Interesting tips! Definitely eye opening.
Jessy says
So much great information and insight here! Thanks for sharing!
xo, Jessy
adanna austin says
Glad you enjoyed it!
Sami Summers says
This is a fantastic post! Truthfully, I probably should have worked harder in the beginning because I am most definitely paying for it now, but I know that I will get there. This really is great advice.
Adanna Austin says
Stay persistent to your goal and all will be well..best of luck !
Tami @ The Inspiration Lady says
This is such a great post and wonderful tips! Pinned it to read again later. 🙂
Adanna Austin says
Glad you enjoyed it.
Ana Ojha says
This is a very inspiring post! I agree with all the points that you have made. Most important is that one should surround themselves in the company of the positive people who are doing wonders in their respective fields as well as never stop investing in oneself to improve better!
Adanna Austin says
So glad you enjoyed it.
Lisa says
Great tips that are both informative and useful! Thank you!
Nadalie Bardo says
Thanks, Lisa! Agreed these are some great tips for becoming your boss!
Beverly says
I know right, entrepreneurship is not an easy journey at all but you are right with the right strategies, we can get this done with least pain. Great post, great tips, thanks.
Nadalie Bardo says
Hey Beverly,
It sure isn’t, especially when you don’t have a plan for being your own boss. We’ve really got to think it out and make a plan for transitioning. So worthwhile though!
Jane says
This is so great! I so badly want to find a way to work from home so I can spend more time caring for my family. Thanks for the inspiration!
Nadalie Bardo says
Hey Jane,
Working from home is fantastic! It’s so hard to go back to the real working world once you’re comfortable with being at home. There are also work from home positions too, so you can take the pressure of being your own boss off. Best of both worlds and time for your family too!
Mandi Em says
Step 7 is tripping me up but I have work to do. Love this list!
Nadalie Bardo says
Mindset is everything! Has us all tripping every now and then, that’s for shizzle!
Miranda Nahmias says
Being an entrepreneur isn’t easy by any means, but anyone can do it with the right game plan, strategy, goals, and confidence!
Nadalie Bardo says
Hey Miranda,
It sure isn’t! You are quite right – the game plan is everything. Helps to keep you focused and on task when you’re overwhelmed or lost.