Employee To Entrepreneur: How To Make The Transition
As an entrepreneur, one learns to value resources much more.
The road to entrepreneurship may begin at different stages for different people, but most entrepreneurs have been employees at some point in their life. And working for someone else vis-à-vis working for oneself, are two different ball games altogether.
To make a smooth transition and not be trapped in the shell of being an employee, the most important thing is to be ready to venture out on your own. But apart from that one needs to redefine the way they approach their professionals light, almost in a new light and be ready to make the transition from employee to and entrepreneur.
Although every employer prefers their employees to multitask when required, as a employee one is mostly restricted to limited work pertaining to the profile they hold. As an entrepreneur, there is no option but to multitask. But this should not be confused with doing everything on your own, as delegation is as important.
What multitasking instead means, is to be ready and willing to fill in when you don’t have the resource or manpower, as opposed to being in a job, where you can take the liberty to stall work. Further, multitasking will help you understand different domains of a business, consequently helping in running the business smoothly.
As professionals if not happy with a job or a profile, it’s easy to make the switch. Although finding the right job may not be that easy, there is no obligation to stick to one employer. As an entrepreneur though, you cannot quit every time pressure bogs you down, as resilience is must to survive.
To prepare yourself, make a list of pros and cons before thinking of venturing out on your own, and make sure you have the financial backup in case of emergencies, especially when you have a family. This will at least take care of any monetary pressure that you face when running a business.
Valuing Company Resources
We all can be quite inconsiderate as employees when it comes to company resources. While some value company resources, most employees do not care deeply and end up burning dents in the company cost sheets. As an entrepreneur though, one learns to value resources much more, given one has to be answerable for every penny spent.
This however, does not pertain to saving resources by not treating your employees well or not spending in the areas needed, but just careful consideration from making wasteful expenditures. It’s more so relevant in the current startup ecosystem in India, where most companies that have shut down or are running in the red, have been found to have a high cost
As an employee, one is quite rigid about the areas they want to operate in, but as an entrepreneur one has to remain flexible. To make a smooth transition avoid shutting yourself in boxes and take the plunge in putting yourself to test in as many areas as you can.
She was generating stories out of Bengaluru for Entrepreneur India. She has worked with leading national and international business publications, including Newsweek, Business Standard, and CNBC in the past.