The Hidden Dangers of Leaving Corporate Life

Thousands of professionals have found themselves in the ranks of the unemployed.  Some of whom will be considering self employment.  But there are few things they need to know…

Well, it’s not exactly a shark attack, but for anyone venturing out on their own here are 20 things they really should know.  Because if you’ve been comfortably looked after by a big corporate (even if you hated your job, by the way), the transition into self employment can be a massive shock.  Here’s why:

1. When you’re employed you will be used to having the IT technical support team on hand to fix the hardware and software issues.  When you work for yourself however, if you haven’t got any friends of a family member sufficiently skilled in IT that means you will need to either do it yourself or pay someone to sort out for you.  BUT the upside is when you start to networking there’s always someone who knows someone who’s good with IT! 
2. You will need a proper e-mail address – no joebloggs345@hotmail.com  this looks really unprofessional and you won’t be taken seriously
3. Switch your focus because when you’re on the climb up the greasy pole of a big corporate it’s sometimes every man (or woman) for himself which fosters competitiveness to the point of ruthlessness.  However, in the self employment arena I encourage you to become more collaborative in your approach.  Because when you help someone else there is nearly always a pay back later on.  When you work for yourself the corporate hierarchy no longer exists, therefore you stand and fall by your personality and your expertise.
4. Because you are that much closer to your clients and customers, the buck really does stop with you so you will need to learn about good customer service.  There will be nobody to delegate this to.  If the thought of getting close to the ‘great unwashed’ appalls you and you’re used to sitting in a cosy office away from the hustle and bustle, think again.
5. Get used to typing your own e-mails, letters and proposals.  And yes you will also have to go to the post office, get the stamps and post the letters yourself! 
6. Re: the above, as soon as you can afford to – hire a Virtual Assistant who can take that off your hands so that you can concentrate on income generating activities
7. Get really good at writing promotional copy – and be prepared to spend a huge percentage of your time promoting yourself, and making things happen.  In fact, treat your marketing like your life depends on it – because at the end of the day it pretty much does
8. There is no sick leave!  You will need to take extra special care of yourself – because you will for a time be the chief cook and bottle washer.  That doesn’t necessarily mean working yourself into the ground, but a lot of entrepreneurs do eventually give up through the sheer exhaustion associated with running a business
9. In the world of SME’s it’s a small community – but it takes time to get known unless you are prepared to put yourself out and get to networking meetings.  Go to as many free ones as you can as this could end up costing you a fortune
10. If you hate filing and book-keeping – before your business kicks off spend some time planning your office space and preparing the admin so you have storage space, shelves and filing areas.  Because once you get going you won’t have the time to do it.  Get a de-cluttering expert in to help you.
11. Because you will be at the front line – disappointments and setbacks can really hit you hard.  Develop a tough skin like a rhino.  Don’t waste time on feeling sorry for yourself when you get let down or things don’t go your way, because that is a luxury you cannot afford.  Work with a coach or develop a mechanism to deal with disappointment as soon as possible or the stress will wear you down.
12. Keep your ears and eyes open for opportunities everywhere you go.  These will be all around you if you are open and they might not necessarily come in the guises that you expect
13. Be pleasant and amenable to everyone you meet, but always be a professional – you never know when you will need some help
14. Get some mentoring from someone who’s been there done that and bought the t-shirt
15. Don’t waste time being distracted by ‘get rich schemes’.  Always think ‘stay on target’ until you’ve reached your objective, because there really are no short cuts to success
16. Have clear objectives, write them down and work with someone to help hold you accountable or to discuss different ways of approaching things if you need to make any adjustments. 
17. Concentrate every day on doing the activities associated with promoting your business, and not thinking about the Audi, the holiday home in France or the designer handbag.  If you work hard enough that will be the bonus you’ll get anyway for working your socks off!
18. Get used to being extremely tired most of the time in the early days.  In fact if you haven’t got blue circles under your eyes – you’re not working hard enough!
19. Leave no stone unturned in your route to the top.  You really will have to work harder than you have ever worked in your life!
20. If you have the time, read books and attend courses on personal development, confidence building, marketing and public speaking – these are the tools that will take you to the top