- 𝗔𝗰𝘁 𝗻𝗼𝘄 𝗶𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗿𝗲𝗮𝗱𝘆: Don’t wait for the perfect moment to make your move! If you’ve been thinking about it and have considered the advice below, take the leap! Don’t let delays—such as waiting for shares to vest, downsizing, or a lackluster performance review—hold you back. If staying another year offers significant financial benefits, use that time to get prepared. You might be surprised by how much you can accomplish in advance! Remember, there'll always be a reason not to make the change you need. Just have the fall-back plan in place first.
- 𝗦𝘁𝗮𝗿𝘁 𝘀𝗮𝘃𝗶𝗻𝗴 𝗻𝗼𝘄: Begin saving for your self-employed adventure. Aim for at least six months of your current salary to survive and twelve months to ease the stress.
- 𝗧𝗮𝗸𝗲 𝘀𝗼𝗺𝗲 𝘁𝗶𝗺𝗲 𝗼𝘂𝘁 𝘁𝗼 𝗿𝗲𝘀𝗲𝘁: Consider taking 2-3 months off to reset and adapt to your new reality. You’ll need this time to learn new skills and prepare for the busy road ahead.
- 𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗲 𝗮𝗱𝘃𝗼𝗰𝗮𝗰𝘆 𝗼𝘃𝗲𝗿 𝗮𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝘆: Get comfortable operating without formal power. Understand that you may be viewed as “just another vendor.” Your value will be determined by the quality of your work, so pitch honestly and rely on your strengths.
- 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 𝗮𝗻𝗱 𝘀𝗸𝗶𝗹𝗹𝘀 𝗿𝗲𝗮𝗹𝗹𝘆 𝗺𝗮𝘁𝘁𝗲𝗿: In the boutique and freelance world, your experience and skill set are everything. Make sure you have solid experience before you dive in—it's a competitive market with many offerings and some less reputable players. Stand out to attract your first clients.
- 𝗧𝗶𝗺𝗶𝗻𝗴 𝗶𝘀 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴: Don’t rush; timing and preparation are crucial. Examine the market opportunity, build your brand, and carefully choose your services. Reflect on your ambitions: Do you want to build a company with employees, or work independently or in collaboration with other freelancers?
- 𝗚𝗲𝘁 𝗮 𝗿𝗲𝗮𝗹𝗶𝘁𝘆 𝗰𝗵𝗲𝗰𝗸 (𝗳𝗿𝗼𝗺 𝘀𝗼𝗺𝗲𝗼𝗻𝗲 𝘆𝗼𝘂 𝘁𝗿𝘂𝘀𝘁): Don’t rely on colleagues who say, “I’ll definitely buy your product or service.” Your real customers will come from unexpected places. Focus on delivering exceptional work, and build your reputation through referrals. Ask trusted people what is the best of you that someone else might want to buy.
- 𝗕𝘂𝗶𝗹𝗱 𝗮 𝗴𝗿𝗼𝘄𝘁𝗵 𝗽𝗶𝗽𝗲𝗹𝗶𝗻𝗲: Starting out can feel lonely, but plan for growth! Identify individuals you admire who might be valuable collaborators and keep that network strong.
- 𝗛𝗮𝘃𝗲 𝗮 𝗯𝗮𝗰𝗸 𝘂𝗽 𝗽𝗹𝗮𝗻: Continue interviewing for corporate roles when opportunities arise. This serves two purposes: your business might not work out, and some full-time positions could become freelance opportunities.
- 𝗕𝗲 𝗮 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝘁 𝗰𝗵𝗮𝗿𝗮𝗰𝘁𝗲𝗿: Lastly, while it’s number 10 on the list, it’s arguably the most important. Being your own boss has great benefits, but be prepared for challenges, including cash flow issues and the responsibilities of marketing, sales, and managing operational expenses. 𝘏𝘶𝘳𝘵𝘺 𝘧𝘦𝘦𝘭𝘪𝘯𝘨𝘴 have no sanctuary in the freelancer world. Be ready for the knocks and celebrate small victories.
Are you ready to take the plunge? I believe in you! 💪
Head of Product and Services - Group Cyber Defense - Booking.com
7moVery insightful Spencer Mott . Thanks for sharing
Wise and encouraging words!
President & CEO @ Premier Risk Solutions and ShieldIQ Executive Security | Special Event Security Management
7moHaving made this leap nearly 11 years ago, you are spot on Spencer. Like anything else in life being a business owner has its pros and cons. Must have a risk tolerance appetite for the leaner times is perhaps the most important element I’d highlight. I’m in agreement with all you stated.
Partnering with organizations to help them reach new levels & overcome complex challenges with transformative technology and cybersecurity.
7moThis is such an empowering message! Taking the leap can lead to amazing opportunities. Go for it!
Business Information Security Officer of FinTech at Booking.com
7moGreat article Spencer! Thanks for sharing.