How to Create Your Exist Strategy from Your Day Job to Head Into Small Business Ownership

By Allison Babb

If you’re like me, when you think about quitting your job and being on your own, you get a few anxiety pangs. What if you fail? How much would it cost? Can I really do this? It’s all normal. I realized that a lot of that anxiety would have been reduced if I had a really clear picture of what my exit strategy would be.

I was working with my own coach when I created my exit strategy, but to be honest, my exit strategy was not as thorough as it could have been. So here are some tips from my Employee to Entrepreneur Blueprint™ to help you with that aspect of your transition.

Count up the costs: There are a few things you need to consider on the financial side of things. But don’t get too overwhelmed by that. The finances seem to be the greatest fear for most people and with good reason. But if you have a clear plan, you don’t have to worry needlessly. I address this more thoroughly in my audio seminar on the topic and also in my Employee to Entrepreneur Blueprint™.

Go ahead and start: A lot of people think about quitting then starting a new life as an entrepreneur. My own advice is start your business while you are employed. I started my first business while I was a manager and my income funded the start of my business. If your income cannot stretch that far, then starting while you work is a way to create additional income to move your business forward.

There are SO many inexpensive ways to create an income from your business. Often people think far too narrowly about the possibilities. I was able to do start my business as a single parent working full time and working at both was not the impossible feat I was often led to believe it would be.

Plan your time: If you are committed to making the transition from employee to entrepreneur, you will need to also commit a certain amount of time per day/week/month to accomplishing that goal. That plan becomes part of your exit strategy. What you will accomplish in those hours is also a part of your exit strategy.

Get support: I repeat this often as it is so critical to your success as an entrepreneur. Get into a group of entrepreneurs or get a coach. Whatever you decide, part of your exit strategy must be to have some support to help you accomplish your entrepreneurial goals which often includes learning all there is to learn about business ownership.

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WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Allison Babb is an author, speaker and Small Business Coach to solo entrepreneurs. Allison publishes the "Small Business Success" weekly Ezine on how to create a steady stream of clients for your small business at: www.GreatSmallBusinessAdvice.com

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