Going from employee to entrepreneur requires a lot of work before you even consider quitting your day job. Use these 12 steps based on Business Quadrants Wealthflow Theory to succeed.
Many people are blindly progressing in their careers but have an uneasy feeling about their current life and career paths. They believe they could absolutely be happy and successful as entrepreneurs.
But the misconceptions about business ownership and the constant negative response from peers, friends and family hold them back from making the leap.
Only when someone can rise above the negative chatter, ask themselves the critical questions, and overcome their self-doubts are they ready to be an entrepreneur.
If you’re fed up with your job, it may seem like there are only two steps to becoming an entrepreneur. The first is to quit your job, and the next step is to start a business. While it is possible to transition successfully from employee to entrepreneur, it’s a little more complex than that.
In chapter three of the book Business Quadrants Wealthflow Theory, you learn about the business quadrants golden rule of wealth. The business quadrants golden rule of wealth applies perfectly for those who want to make the switch from employee to entrepreneur.
The golden rule recommends taking a more open-ended approach, and looking at the many ways the staff job you have now can set you up as a successful entrepreneur.
From Employee To A Passive Income Business Entrepreneur
As mentioned earlier, the focus of this post is switching from an employee to owning a passive income business.
The switch may look simple on paper but the reality is that it is not. However, if you follow these twelve steps you will achieve success.
Step 1 – Decide on the Business
Step 2 – Calculate the Business Budget Cost
Step 3 – Scrutinize and Calculate your Basic Expenses
Step 4 – Decide on Major Expenses Before You Launch
Step 5 – Calculate How Long You Have To Work
Step 6 – Get Down To Work and Start Saving Monthly
Step 7 – Acquire Necessary Skills
Step 8 – Work Your Network
Step 9 – Pre-launch Your Business On a Small-Scale
Step 10 – Quit Your Job
Step 11 – Take Sabbatical Leave
Step 12 – Soft-Launch and/or Hard-Launch Your Business
As you can see, becoming an entrepreneur requires a lot of work before you even consider quitting your day job. However, if you follow each of the steps listed above and your idea still seems viable, you can leave your life as an employee and become an entrepreneur instead.
There are many challenges you’ll face, but for most entrepreneurs, the benefits of meaningful work and self-direction are much more important.
This post is an excerpts from chapter eight of the Business Quadrants Wealthflow Theory book. Pre-register now for updates on the full version launching on June 26, 2017. You will receive a copy of the Free Edition (First three chapters) and get access to the launch price promo and other incentives. To pre-register visit BQWT Amazon Launch Update.
Latest posts by Jetro Olowole (see all)
- Income Tutors Network Marketing Boothcamp in Lagos - August 13, 2017
- Income Tutors Wealth Summit – Pre-Register Now! - August 5, 2017
- 30 Reasons Why Nigeria Network Marketers Fail - July 30, 2017