This week I got to weigh in on the “Ask Women and Work” advice column in The Globe and Mail and I hope it might be helpful for you whether you are an entrepreneur or work for someone else.
Ask Women and Work
Question: I’ve been working in corporate jobs for almost two decades. About five years ago, I started a side business. It’s been going well, especially in the past year, so much so that I’m itching to go full-time with my side business. But I’m conflicted about giving up a great job with excellent benefits and pension for the uncertainty of small business ownership. How do I know if it’s time to take the plunge?
We asked Lisa Borden, owner of business and human development advisory firm Borden Communications Inc., to tackle this one:
Your question is great and holds the key to answering what’s best for you. Are you ready for the unknown? That depends on many things, including your mindset, current life responsibilities and how much you trust yourself. No one can really know the answer better than you.
I encourage you consider these qualities and questions that can help you decide your best course of action:
+ Passion: Are you deeply passionate about your business?
+ Purpose: What is your purpose? Are you connected to your venture for the right reasons?
+ Resilience: Are you ready to face setbacks, jump hurdles, circumvent roadblocks and still keep going?
+ Creativity: Do you enjoy being creative and problem-solving?
+ Financial stability: Do you have funds saved? Are you stable enough financially to take care of what you need to?
+ Community: Do you have mentors/collaborators and relationships in your life that you can lean on through challenging moments?
+ Skills: Do you have (and/or are you willing to learn) the needed skills (marketing, finance, operations, etc.) to be successful?
+ Mindset: Are you excited about the unknown? Are you prepared for different (and often unexpected) hours that might change your daily schedule?
If you have answers to these questions that feel good to you, you’re ready. It’s about your willingness to switch from a path of relying on what’s familiar and stable for a more challenging path headed in an unfamiliar direction.
If you have answers to these questions that feel good to you, you’re ready. It’s about your willingness to switch from a path of relying on what’s familiar and stable for a more challenging path headed in an unfamiliar direction.
One thing that is also important to highlight: Having a job and pursuing entrepreneurship at once might have been a safe and ideal way to begin, but it can take a toll on you in all dimensions of wellness, including financial, physical, social and emotional. Holding on to both commitments is not committing to yourself and most likely not sustainable.
You will find your success when you are true to yourself. After nearly 30 years of supporting entrepreneurs in human and business development, this is one of the very few things that I’m sure of. Plus, Plan B (your previous career) is always available.
If you feel ready to become a full-time business owner, I encourage you to follow your passion and bring your dream to life. Believe in yourself and trust that you are on the right path – it’s such a liberating feeling. Most importantly, be all in, whatever you decide.
I share many thoughts and resources for entrepreneurs and business support in The Better Business Centre. If you are not yet a member and would like to join us there, click here to upgrade to a KEY Membership or you can enjoy this post for the next week or so before it gets filed into this Breakout Room.
Orignal post: https://www.theglobeandmail.com/business/article-how-shared-sisterhood-can-improve-gender-equity-at-work-plus-should/
BETTER BUSINESS TOOLBOX
+ Comment on this post and leave your thoughts for the next person to find!
+ Schedule a private session with me.
Click here to book.
+ Meet fellow members and learn about them and their inspiring stories.
Click here for the complete library of interviews.
+ Get more Better Business advice & perspective.
Click here for all posts in The Better Business Centre.
