When is it time to make the Leap?

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When is it time to make the leap from Moonlighting to Full-Time Entrepreneur?

Leap from Moonlighting

How do you know when it’s a good time to quit your day job and put 100% of your focus into your dream business?

BUILD A SAFETY NET – There is an old saying “leap and the net will appear” … sorry kids, but that is hogwash. There is no flock of bluebirds that will swoop in to save you from splatting on the jagged rocks below after hurling yourself off the cliff. YOU have to build that NET!

Here is your leap from Moonlighting to Full-Time Entrepreneur Checklist – don’t skip these steps before taking the leap!

Click HERE to Download Your Free “Moonlighting to Full-Time Entrepreneur” Checklist!

____ Be 100% Debt Free of all consumer debt – personal and business!

____ Emergency Fund of 3-6 months expenses (minimum!)

____ Build a strong support system – Family, Friends, Colleagues – people who will step in and help you when you need refueling

____ Obtain any certifications, education, and experience you need BEFORE quitting your job. It is VERY difficult to go to school AND build a business at the same time!

____ Have a strong projected (secured by contract or purchase orders) income for the next 6-8 months – or to cover your projected sales cycle.

____ A written marketing plan that includes a sales funnel and an understanding of your sales cycle.

____ 2-3 months of content / intellectual property

____ A written Business Plan that clearly maps out your first year (growth stage) and what stage you plan on being in for the next 18, 24 and 36 months (rapid growth, sustained growth, managed plateau or maturity.

____ A good business mentor, coach and/or mastermind group to help you strategize, give objective feedback, support and accountability. The shift from employee to entrepreneur is not a smooth one – it’s a tough transition – and trust me, re-entry is even worse!

Need help taking the leap? JOIN the LEAP! From Moonlighting to CEO Mastermind   starting in January!

In the meantime, Hit the Heights and build that net!

Priscilla


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Posted in From Moonlighting to CEO.

Priscilla Hansen Mahoney

Business Leadership Guide and Founder of Blazing Trails Coaching I help business owners and leaders grow healthy, sustainable, and resilient organizations. I help you train your leaders, manage your resources, and create time saving workflows that help you become the efficient, productive leader you were meant to be, and your business and family deserves.

3 Comments

  1. I will want to be a good enterprunure

  2. Maybe it is because I spent the first 18 years of my life in Maine doing things like the Allagash River trek that I love your messaging so much. I just absolutely love it. Your website organization including your messaging, your prospect engagement, your back-office automation, and your branding are all terrific. I particularly relate to your safety net checklist as being very sound advice. I know that one of the challenges of being an executive and a father is that I didn’t have much time for moonlighting but I made a game of it to get me through the training, client practice, and evaluations. Coaching remained a hobby for a year and a half after certification until I gave it a lot more attention. I made the leap this past September with many of the items you list but not all of them. I have not applied to other corporate jobs but my network invites me to look at other opportunities regardless. I am starting to get tempted to engage in the dialog of return to a corporate job because creating my website consumed a lot of my time in the last 3 months without income associated with that time. I take note of your “re-entry” comment. Thanks.

    • Thanks Paul for your awesome comments about my website – welcome to the Trail!

      Don’t be afraid to take a “JOB” while working on your business. I promise to blog more and do a periscope about that in the upcoming days. The most important thing is food on the table, and taking care of your clients. You can’t take care of them if you are worried about where the next paycheck is coming from. Re-entry can be bumpy – but sometimes necessary if you need to refuel.

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