Are you ex-corporate who started your own business?
If so, what was the hardest, funniest, strangest thing that happened to you when starting/setting up your business OR what advice would you give specifically to a corporate professional who is now going out on their own?
Out of nowhere, I had to quit my dream job.
I started my career with Coca-Cola Australia.
But, as much as I loved it, I had to let go.
I’d been blissfully ignorant of one fact: I was a ticking bomb.
I was diagnosed with Polycystic Kidney disease.
My business empire crumbled before my eyes as the treatment took more and more of my time.
At that point, I knew I had to start my own path.
Hell and high water came.
I’d tried everything.
I was lonely, I had zero cash, and I was overworking myself.
In a cry for help, I turned to others.
I heard about a gathering of like-minded business owners called a Mastermind.
I connected and shared my troubles and ideas. I was welcomed, accepted, and I was given solid advice.
Today, as the owner of Build Live Give Club, I help founders successfully transition from corporate to startup and scale their businesses globally.
We make this happen by teaching founders how to use the right platforms for scaling and connect them to the right people in order for their business to grow.
So if you’re struggling to unlock profit and time in your business, ask yourself:
Are you surrounding yourself with the right people to help you create the life and dream business that you want?
I think the most difficult thing I needed to do was to refine and define what it was I really wanted to do.
When I first started my business, my model was based on being constantly busy and trying to make money. I undercharged and never turned work away, so I was constantly busy, trying to keep up with multiple deadlines. I nearly got burnt out.
I started work with a business coach who got me to define the scope of what I would do and wouldn't do, raise my rates and create a business plan. Life is much better.
Be objective about what your weaknesses are and what you need to do to make yourself stronger in that area or areas
First, yes. Go for it.
Second, as soon as you can, get advice from experts in start-ups. The Small Business Administration is my preference. You can also go to the SCORE agency in your locality. There are Small Business Development Centers in many cities, often associated with a community college. Best to work with the one in your own city or town.
Great Great Question.
You know what they say is the fast place between two points? Well, setting up a your own business is not a straight line. I can promise you that.
My experience in the corporate world led me to be shocked how specific of a task you got to performing. All the while not having a clue how 95% of the other business worked.
When you set out on your own, you literally have a be a jack of all trades. Accounting, Finance, Marketing, Sales, Executive, HR. You need to be able to do all of this by flipping between tasks one to another.
the question interest me so much. The first time I retired as corporate lawyer at my office, my question is asking for what will I be for next period of my life. where should i get the job, How could i financed my family........many things.
But by the time goes by, the barrier slowly but sure is accomplished. flowing like water, belief in GOD THE MIGHTY, DO YOUR BEST, BE A USEFULL PERSONS IN EVERY WHERE I GO. My mother used to say...... lizard (In my country namely Cicak). they can eat mosquitoes while they just hanging on the wall and the mosquitoes can fly any the like. don't worry GOD never choose a wrong person in giving HIS BENEFITS.
MY ideas maybe sally, and ordinary ideas.
I started my own business in 1989 and my first contract was a disaster. I encounter a difficult problem when preforming work for a South America company that was owned by their government. I performed and finished about three quarter of contract for the company and the president of that country was kicked-out of office and the country. This South American company would not honor the contract until the new president would approve the debt. It took over four years to receive payment. But I did not stop working instead I pushed for better situations by preforming work as a third party contractor for large and strong companies such ExxonMobil, Oxy, Shell, KBR and others. I also perform most of my contracts in the USA but was lucky to work in foreign countries.
My working situations have been good not terrific or intensity throughout my twenty-seven years of owning my business. I have learned to be ready for the “bad times” but apparently there are times I cannot control some of the circumstances such as higher expensive due to tax and employees’ health care. A good example of the "bad times" is the present government (staff) all I can do is to ride this stint-out and maybe I can recuperate.
Joe R. Garcia, Jr.
The other day we actually made a 5min video exactly about this. It features 3 ex-corporates (including myself) who took the leap and share their experiences. Check it out on http://www.bd-insider.com/bba-program
Stay hungry. Stay foolish - Late Mr. Steve jobs - https://www.youtube.com/watch?v=Hd_ptbiPoXM
Powerful and highly inspirational. Try not to get into working for your business again. Get the business working for you.
Have patience, & allow time for income to arrive unless you have a pending or known client or potentials clients which are warm leads. Network with your peers or use social media.
leverage your time, ie get someone to do jobs you are not keen on doing or those which are of a lower monetary value than your hourly weekly rates.
Use public transport to utilise your time on the phone / taking notes /reports etc if you drive you get both tired and its wasted time! ideally get someone else too..
Use your time to utilise both personal & professional time ie holidays part of day with family other work that way you get both..
hope this helps