Have you ever felt as though your career was stagnant? The modern workforce has been steadily moving away from the traditional structure of working their way up the corporate ladder.
Fifty years ago, building a life of stability meant paying your dues at a 9-5 job, saving modestly for retirement, and finally, earning your pension. Today, the average company offers a 401K plan, and the modern employee switches jobs far more than previous generations.
If you are feeling a desire to advance your career without relying on a boss or company, it might be time to make your side hustle or passion project your career.
While this is by no means an easy option, entrepreneurship leads to greater ownership over your career.
Track Your Work
Whether you are starting a line of jewelry or building a startup, it is crucial to track your progress. Keep a record of every setback and leap forward to figure out where you need to focus your next move.
Join Our Small Business Community
Get the latest news, resources and tips to help you and your small business succeed.
In the beginning stages of a project, you experience an igniting sense of passion brought about by a new idea. As the going gets tougher, it’s easy to lose that initial spark of creation. By keeping track of your process, you can learn from any mistakes you make and revisit the successes when you need to feel inspired.
There are several ways to track your development. You can keep a spreadsheet detailing the increase in customers, or site traffic, or whatever metric you use to measure your success. You also can keep a journal with your entrepreneurial insights and ideas.
You also can involve the public in your journey, which is what this entrepreneurial case study managed. A more public forum will help you build a base of followers to root for you, and with enough site traffic, you can create a stream of passive income to support your new startup.
Pick a Project You Love
In the beginning stages of building a business, you may have to work twice as much as you usually would with a more traditional 9-5 job. This dedication is because your business may not make enough money to sustain you when releasing it to the world for the first time.
It is vital to pick a project that you love. For some, this passion may mean launching a startup that supports a beloved cause. For others, this love could derive from your ability to be creative. Perhaps, designing and sewing clothes makes you feel like your best self.
Your love for your project may have to sustain you in the early stages of entrepreneurship as you are learning how to grow your business.
Find the Funds
There are tons of resources online, as well as seminars and workshops available centered around starting a small business. As exciting as starting a business can be, it is essential to think practically: How can you create something new and innovative while ensuring your financial safety?
Crucial aspects of entrepreneurship that ensure financial stability include considerations of :
- How you’ll declare your earnings in your taxes
- Applying to become a registered LLC in your stat
- Funding your venture through loans from the bank, angel investors, or crowd-sourcing
Manage Your Online Presence
Besides figuring out the financial components of your business, it is vital to pay close attention to your online presence.
You can use online shopping, SEO (search engine optimization), and social media to your advantage. Whether this means becoming an amazon affiliate to reach a broader range of potential customers or ensuring your website appears first when someone types in keywords on Google, the internet is a resource that you would be remiss not to embrace.
Take the Risk
Breaking away from the 9-5 lifestyle can be intimidating. However, if you crave ownership over your career and building the life you envision for yourself, taking the leap and embracing entrepreneurship could be the right move for you.