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Many people dream of leaving their 9-to-5 job and pursuing the freedom that entrepreneurship offers. They imagine a life where there is no one to answer to and no one to dictate when we start or end the day. They imagine unlimited earning potential and the ultimate reward: freedom.
Many people dream about it, but not everyone decides to take this step. For me, this dream began in college. I spent hours in design classes, sketching logos and considering about company names, imagining what life can be like if I were in charge.
Being 26 years old, with a small child at home, barely enough money to make ends meet, and more fear than confidence, I made a decision to take the plunge. I quit my job as a creative director at a small promoting agency in upstate New York and arrange shop in the upstairs bedroom of the house we were renting in the country.
I worked for a man who treated his employees like animals. He had no respect, compassion or humility. It was not possible to work for him. The timing wasn’t perfect; there was nothing to it, but the toxic environment left me no other selection. I gave up and began my very own design boutique. And what began as desperation became the basis of a multi-million dollar promoting agency.
Entrepreneurship starts with a spark; sometimes it is a dream of independence, sometimes it is a necessity. For me it was each. The beginnings were brutal. My wife and I had trouble paying the rent and keeping the lights on, and there have been times when I wondered if I had made a mistake. But these struggles lit a fire in me that I didn’t know I had.
Within a few months, I used to be so busy managing clients that I had to stop making sales calls. Just a little over a 12 months later, I hired my first part-time designer. We grew up fast, sometimes too fast (more on that later), but I didn’t let the each day challenges and many obstacles stop our progress. In a few short years, we went from helping mom and pop stores to running national campaigns for Fortune 500 corporations.
The decision to leave a protected paycheck is not a decision you make evenly. For me it was terrifying. There were sleepless nights spent worrying about how to pay the bills, moments of self-doubt so intense it made my stomach hurt, and a constant feeling of walking on a tightrope. But there was also something liberating about taking control of your destiny. Fear of the unknown and financial stress actually fueled my motivation.
The reasons people leave their jobs vary, but the emotions are universal: anxiety, excitement, and the nagging query: “What if it doesn’t work?” You may or will not be considering taking this step yourself. If so, your reasons could also be unique, but from talking to countless business owners and entrepreneurs, I’ve learned that these are some of the commonest motivators:
Independence and creative freedom
The ability to make your individual decisions and build something from scratch. I never believed that my ideas were at all times the best, but I knew that my ability to implement even a few of them was limited by my boss. When I began out on my very own, my creativity blossomed in every part from how I organized my business to how I developed promoting and marketing materials.
Toxic work environment
Sometimes poor leadership or an intolerable work culture forces you to consider leaving. This was the major factor influencing my decision. If you are faced with a similar situation, take some time to think it through rigorously. Understand what you are doing, plan and make sure you have the financial foundation to make it work.
Unrealized potential
Feeling unappreciated or stuck can push people to create something where their skills shine. I never knew I had a flair for business and finance until I began my very own company. There is nothing more satisfying than stretching yourself and realizing how much more you are able to.
Financial freedom
The idea of unlimited earning potential often outweighs the risk for ambitious entrepreneurs. But don’t let the appeal cloud your judgment. The failure rate for start-up corporations is high.
About 20% of recent businesses fail inside the first 12 months. This rate increases over timewith roughly 50% failing the examination by the age of 5 and roughly 65% by the age of ten.
Starting a business involves financial uncertainty that almost all of us have never experienced. You don’t know when you may get your next paycheck or if you may get it at all, and this uncertainty will be paralyzing.
I remember one night during my first 12 months of business when I used to be looking at my profits and losses with no light at the end of the tunnel. To this present day I do not know how I managed to get out of that hole. For my family, keeping expenses low was key. We weren’t crazy; we survived. Every decision and every dollar had to count. It was exhausting, but it taught me discipline.
No one tells you how hard it is to grow a business. Scaling up wasn’t just about hiring or increasing revenue; it was about staying true to their vision while adapting to recent challenges. Hiring the mistaken person can set us back several months. Losing a big client was like a punch in the gut. But each mistake taught me something: how to hire higher, diversify your client base, and lead your team without micromanaging.
The first taste of success is intoxicating, but maintaining it is one other story. The market is changing, competition is increasing and suddenly what worked before is not enough. In my case, success got here from curiosity, consistently innovating and improving our company culture and customer experience.
4 key steps to take before taking the leap
The decision to leave your job is not only about courage. It’s about planning. You have to appreciate what you are jumping out of and know what you are jumping into. Here are some key steps:
1. Financial preparation: If I had to do it all over again, I’d wait until I used to be on solid financial footing. Make sure you have enough to cover your personal expenses for 6-12 months. Assume that it is going to take longer than you think to achieve a regular income.
2. Market research: Know your audience and understand the problems your organization solves. From my agency days to my profession as a speaker, I have at all times asked myself, “What do I have that this industry absolutely needs?” Don’t force yourself and don’t pretend. If you actually need to deliver something meaningful, start with the customer experience and work from there. This approach will assist you to clearly define your offer.
3. Have a mentor: Early on, I became friends with the bank’s vp, who became an invaluable source of recommendation. He was at all times willing to answer my calls and guide me through challenges, whether or not they involved worker relations or financial decisions. When I used to be struggling with the difficult task of firing my first worker, he said something that stuck with me: “If it ever becomes easy for you, it’s time to leave.” His empathy and wisdom left a lasting mark.
4. Control your development: Many corporations fail because they grow too fast, overstretch themselves, and fail their existing customers. I learned early on to say no to recent businesses when I could not handle them. It wasn’t easy, but this kind of control and honesty built trust and became the key to the proper development of my company.
Are you ready? Is this for you?
No one is fully prepared for entrepreneurship. Reality is chaotic, unpredictable and often overwhelming. You’ll wear every hat: sales, marketing, operations, HR – you may do all of it. Income will probably be unstable. Financial stress is a fact and you have to learn to live with it. You will query every part. Self-doubt is inevitable, but it might probably even be a great motivator.
Entrepreneurship is not for everyone. It’s stressful, unpredictable and sometimes thankless. But for those that take that step, it offers something extraordinary: the likelihood to build something meaningful. Looking back, I would not trade those struggles for anything. They taught me resilience, forced me to grow, and gave me the freedom to live on my very own terms. If you are on the brink of constructing this decision, know that it won’t be easy, but it is going to most probably be value it.