How To Transition From Employee To Boss
Back when I opened up the floor for you guys to ask me anything (I promise the rest of the answers are coming soon), one of the questions that came up was if I had any advice on how to transition from working a 9 to 5 to being your own boss. How I quit my job was a little sudden, but if I would have waited and actually mapped it out here is what I would have done.
Create an action plan. Before you put in your two weeks notice you should definitely have a plan. Think about if there are any debts you should pay off before you quit your job. What will you do for insurance? And most importantly what can you do to really kick your business into high gear.
Save like you've never saved before. When you quit your job remember that the paycheck will stop but bills will not. If your business isn't immediately bringing in enough money to cover all of your living and business expenses, make sure you have a good cushion to fall back on.
Go part-time. If the thought of completely giving up your paycheck is a little hard to swallow, then switching to part-time may be an option. It will still allow you more time to work on your business while still bringing in a steady paycheck.
Cutback..a lot. Ok so this ties in with saving money but I can't stress how important it will be for you to have a cushion.Trade in those expensive meals out and start cooking more. You know all of those channels you have that you rarely ever watch? Cut them off. Instead of going out with friends every weekend try having a girls night in (drinks from the store are a lot cheaper than drinks at the bar, fyi)
DON'T GET LAZY! This is really for after you have taken the leap and quit your job but its just as important. Now that you are officially working for yourself this is not the time to be taking naps twice a day and scratching things off of your to-do list just because you'd rather go out and play. Once you quit, its all on you! My advice would be to still give yourself the same work hours as you did before you quit your job, including breaks and lunch.
Have you transitioned from employee to boss? What advice would you give?