June 1, 2018, will forever be a day etched in my memory because it’s the day I quit my day job to become a full-time entrepreneur. I left my steady 9-to-5 to become a mortgage broker. The decision wasn’t easy, but I don’t regret it for a second. It provided me more flexibility with my schedule, and more opportunities to grow both personally and professionally.
That being said, not everyone is cut out to be an entrepreneur. Before quitting your full-time job, it’s important to make sure you have what it takes. Here are three important things to help you work smarter, not harder, as you start your journey as an entrepreneur.
Being an entrepreneur is a lot different than working a typical 9-to-5 job. When I quit my full-time job of eight years, it suddenly meant I was working for myself and therefore accountable only to myself. I don’t have a boss keeping me in check.
When working your 9-to-5 job, there are likely days when you aren’t as productive. Maybe you didn’t sleep well or are dealing with some personal issues. You might be able to get by without giving it your all. But, when you’re self-employed, not being fully motivated will show directly on your bottom line.
I keep myself motivated with goal-setting. I set goals on a daily, weekly, monthly and annual basis. Each day, I write a to-do list. As I finish each one, I cross it off the list. The order of my list depends on priority, but generally, I like to start with the low-hanging fruit. Then, once I have a few wins under my belt, I’ll tackle the tougher stuff.
Learn to Be More Productive
Besides being motivated, you also want to be productive with your time. Do you ever look at the clock and realize it’s 5 p.m. and wonder where all the time went? You’re not alone. Being busy is fine, as long as you get everything you wanted to be done during the day. But if you don’t, you can find your work spilling over into your personal time, which is not good.
To stay productive, I have a daily ritual. Each morning, I check my email for anything urgent. Once that’s out of the way, I tackle the projects that require the most brainpower. You might be a night owl, but I find I perform at my best in the morning. As such, instead of procrastinating, I do tasks that are the toughest. I generally start my day by writing and researching articles, and finish it off with replying to emails, and recording and editing podcasts. You have to find what works best for you.
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Earn Income From a Side Hustle
The toughest part about going from a steady 9-to-5 gig to being self-employed is giving up the regular paycheck. As a mortgage broker, I’m only paid if I fund mortgages. So, to help support me while I’m getting up and running as a broker, I’m earning income from a side hustle.
I’m a big fan of streams of income. I write articles, do public speaking and offer my services as a money coach. By doing this extra work, I’m able to cover the bills at home and support myself until I’m successful as a broker, which will take time.
Alternative Option: 7 Ways to Start a Business Without Quitting Your Job
Some people are cut out to be entrepreneurs, while other people aren’t. Being an entrepreneur will only work if you’re strategic about it, and do what it takes to be motivated and productive. It doesn’t hurt if you’re earning money from a side hustle, too.
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