#21: From 9-5 to Entrepreneurship: Preparing for the Start-Up Journey
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Start-Up Success: Building Your Online Service Business for the Long Haul!
Ready to transform your life by launching a successful online startup business?
This episode of Brilliant Business, Beautiful Life podcast walks you through the essential steps to prepare for long-term entrepreneurship.
We delve into the importance of financial preparedness, honing the right skills, establishing a work-life flow, creating a robust support system, and designing a smart transition plan.
Whether you’re contemplating turning your side hustle into a full-time gig or looking for reliable client work, we provide you with the insights to navigate the early stages of online startup life to keep your experience smooth and stress-free.
The conversation doesn’t end there.
As we unfold the 9-5 Exit Plan, we help you tap into your existing skills and experiences, guiding you on how to transform them into a thriving online service business. We broach the subject of work-life harmony, sharing tips on setting boundaries, prioritising self-care, and drawing inspiration from successful entrepreneurs.
From creating a financial plan to building a support system to designing a work-life flow that suits you, this episode is your guide to navigating the online startup journey and creating a business and life you absolutely love.
Join us, and take your first step towards entrepreneurial success.
(full transcription below)
Main Points
00:00 - Introduction to the Start-Up Success Series
00:57 - The Long-Term Commitment: Entrepreneurship Beyond Two to Three Years
03:24 - Financial Preparedness: Saving for Your Business Launch
05:17 - Starting as a Side Hustle: Financial Safety Nets
06:18 - Smart Money Management: Building a Financial Buffer
08:42 - Skill Assessment: Unleashing Your Entrepreneurial Potential
09:50 - Bridging the Gaps: Continuous Learning and Upskilling
11:25 - Work-Life Harmony: Setting Boundaries and Priorities
13:07 - Delegation and Support: Assembling Your Dream Team
15:36 - Self-Care and Wellness: Prioritizing Your Health
18:19 - Adaptability and Mindset: Embracing Change as an Entrepreneur
19:55 - Mentorship and Guidance: Seeking Support for Success
20:46 - Creating a Transition Plan: Preparing for Your Business Journey
22:02 - Fast-Tracking Your Success: Join the Start-Up Success Program
22:47 - Conclusion: Seizing the Opportunity for Your Dream Business
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Links and Resources
9 Little-Known Strategies to Build a Brilliant and Profitable Business
Waiting List for Start-Up Success! Start Your Online Services Business in 60 Days!
Escape the 9-5! Get your 9-5 Exit Plan HERE
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Hi, I’m Samantha Bell
I’m all about helping you build the business – and life – you’ve always wanted.
Listen in for the simple, actionable strategies, mindset shifts, and practices you need to make your business thrive. Plus, a healthy dose of self-care, health, and wellness so you can live the life you absolutely adore while building your beautiful business.
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Transcription
00:00
The fact that you're here listening to the Brilliant Business, Beautiful Life podcast means that you know there is so much more to starting an online service business than just choosing your name and making your logo. And you not only want to do it right, but you also want to start your business as easily as possible. And today's episode is number four in our five-part Start-Up Success series, and I think it's going to be very valuable to you. Welcome to the Brilliant Business, beautiful Life podcast, where we share simple, actionable strategies, plus the mindset and wellness practices you need to build the business and life you love. Head to 16thavecreative.com/playbook and download your free guide to design the business and life you deserve. Today I'm your host, Samantha Bell, and this is the Brilliant Business, Beautiful Life podcast.
00:57
Are you ready for the business and life of your dreams? Let's get started. Well, you're super keen to ditch your nine to five if you want to be in business for yourself long term. There are actually a few steps to take. First, to make sure you build a solid foundation to start strong, so you can keep going as an entrepreneur for the next 10, 15, 20 years. That sounds a long time, but I mean you're not just going to start an online service business to close it down in two or three years, are you? As? If you are, that would be madness. Before I go any further, here is some tough love for you If you are only thinking about a two to three year time frame for your business. If that's your intention, a get in and get out quick approach, you're probably actually best to stay in your nine to five and leave entrepreneurship to someone else.
01:47
Because for your business to be a success, to earn some serious money and give you the lifestyle that you crave, you need to be in this for the long haul. It needs to not have an end date. You need to go all in. You're either an entrepreneur or you're not, so it's best to dig deep and decide that right now. You don't have to stay married to your original business idea for the next 20 years, but you do need to have a strong level of commitment to stay the course, to pivot when you need to, to grow and to change things up for the next 10 plus years. It's a long game, not a short sprint. So if you can do that, fabulous, come to the world of entrepreneurship. But if it's not, for you amazing. That's totally fine too. Leave entrepreneurship to someone else and go and find what is you and what you love to do, and go do that. Otherwise, you're going to set yourself up for a negative experience and a whole lot of time devoted to something that your heart just isn't in love with. I'm all about loving life, so start where you mean to finish, with the life of your dreams as your focus, and you'll know if this is right for you or not. Don't force it. If it's right, it's right, and if it's not, what that means is that some other wonderful opportunity is waiting for you. It hasn't presented itself yet.
03:24
If you have downloaded my nine-to-five exit plan, you will know I highly recommend doing a few strategic things before gloriously ditching your nine-to-five. You need a foolproof plan because, let's be honest, making the leap from being a corporate hostage to owning your own online service business can be really nerve racking and confusing. There are five things I suggest you do before leaving your nine to five so that, when that exciting day comes, you can confidently say, ‘Adios, Amigos,’ and strut out the door with full confidence, because you're well prepared, just like a seasoned entrepreneur. What you need to consider are money, skills, work-life flow, your support system and, finally, your transition plan. Before you start your business, you need to know what is going to cost you to get online. Use the start-up costs section inside the Ditching Nine to Five calculator, and that will help you work out how much it is going to cost you to set up your business. It might actually be a lot less than you think. Then save that money, pop those funds into your bank and you're already ahead of the game. The money will be sitting there waiting for you when you need it. That's really smart because it's going to put you in a strong starting position. You won't be scrambling trying to find money and it will take away stress. You want everything to be as stress-free as possible, so do that. It's a very smart thing to do In the early days of your online business, when you are still getting it all set up, getting your first clients, finding your way and navigating your new life as an entrepreneur, you'll most likely still be working in your nine to five and doing your business as a side hustle.
05:17
That's a great way to start. I know our focus is to ditch your nine to five, but you probably have some responsibilities that need a consistent income. If you give up that income when you aren't yet making money in your business, you will put unnecessary stress and a huge financial burden on your shoulders, unless you've saved up an emergency fund that can support you through the first, say, three to six months of your business. Ditching your nine to five job too soon will make your entrepreneurial journey stressful. I started my business as a side hustle and I'm really glad that I did. It was a great way to get started, find some consistent client work and have some regular income coming into the business without any of that extra stress of trying to find money to pay my bills or putting too much pressure on my new business to perform before it was capable of performing at the level I needed it to.
06:18
You want to give yourself every chance of success, particularly while you're still in the startup phase and you're on such a high learning curve. There's so much to learn and it actually won't take you that long to save up that money. If you keep your expenses down and really concentrate on getting new clients, you can very quickly build up your business bank account to the point where it's got six months worth of expenses sitting there. You haven't had to dip into your household savings to save that money. It's all come from your business and when you've got that, then you can ditch your nine to five. Now that's brilliant. Part of the entrepreneurial journey is getting smart with your money. Building up that buffer is super smart and your future self will really thank you for it.
07:05
A lot of startups fail in the first two to three years of business and it's simply due to a lack of planning or not thinking ahead, and especially about money. If you haven't already, grab the nine to five exit plan and use the expenses calculator inside it, and it will help give you clarity on how to prepare to ditch your nine to five. The calculator is super simple. It shows you how easy it is to replace your nine to five income depending on the hourly rate you charge and how many clients you have time for each month on the side. For example, if you spend 10 hours a week working with clients in your side hustle, you could potentially earn more in your business than what you get paid for in your 9-5. So, you can see how easy it is to squirrel away 2, 3, 4, 5 month’s worth of expenses from your business while running it on the side while you're still in your 9-5. Doing this is going to give you a great financial buffer for the day you do excitedly ditch your 9-5. And what it means is you're not going to be stressed about money when you are solely working in your business. When you've ditched your 9-5, you'll just be able to focus on doing what you love to do attracting more clients, working with those clients all within your business, and making money. That's a really smart thing to do and that is an entrepreneur action. You've got to start thinking like an entrepreneur.
08:42
Another thing to think about before you leave your 9-5 is what is your side hustle idea? Have you thought about the skills and the experience you already have? You've probably got a wealth of knowledge that you can transform into an online service business. In the 9-5 exit plan, section 2 has an area where you can write out all the ideas for your business, and then you list down all the skills that you have. And skills include those that you've learned or got certificates or degrees for, but also your life skills, passion, projects, where you've learned other skills along the way. Write them all down. It doesn't matter how big or small they are, and when you look at the whole list, you'll be surprised at how much you have to offer. And then, once you've uncovered your skillsets, think about your experience List all your learned and your lived experiences and again, the wealth of knowledge that you have is probably going to surprise you. So, you've got a whole bank of things there that you can offer to potential clients as a service, which is fantastic.
09:50
And then have a think about areas where you've got a bit of a gap, where there's something you need to learn. Just say you're really great at tech. You've got lots of tech skills. You want to be a website designer, like I'm a website designer, but you haven't actually done website design. Do a website design course. Build up that skill set, get that in your bank of knowledge so that you can then offer that as a service and be really good at it. You will still need to practice, and practice makes perfect. So you can do a few test sites, you can build some templates, you can do some free work for people To get some more experience in that area. That's just an example.
10:28
Have a look at your skill sets, analyse any gaps that are missing, where you could maybe improve and do some training while you're still in your nine to five, so it's not impacting your business. It's not impacting your income. It's a really clever thing to do. Doing this, you're going to have a really clear idea of all your strengths, your weaknesses, your skill sets. You'll be able to start brainstorming ideas of how you'd like to use all of these skills in your service business, and you'll also be able to upskill yourself without the pressure of having to perform immediately in your business. And one of the main reasons you are starting your online service business is because freedom matters to you. You don't want to swap your nine-to-five prison just to work seven days a week in your own business, and it's really easy for time creep to happen If you're not intentional about your time or have strong boundaries.
11:25
With a few simple strategies, you can create a beautiful harmony between your personal life, your 9-5 and your new business. You need to juggle them all, but with harmony, not with resistance. First, start with creating some beautiful boundaries. Boundaries are healthy. They create a feeling of trust and safety. Plus, having healthy boundaries makes sure that you can give your full attention to whatever needs it.
11:55
Right in that moment, when you're out with the girls, you can just relax. Your mind doesn't need to be thinking about work. You can just enjoy your time without stressing about your to-do list. Similarly, when you're working on your business, you can do so with full focus, get super productive and shave hours off your schedule. And that leads to scheduling. Create a schedule that separates your 9-5, your side hustle and your personal life. Decide how much time you plan to spend on each of those things where you need to spend that time, when you're going to spend that time and put it all in your calendar, map it out, plot it out, because if you don't plan, it's not going to happen. Then, importantly, let everyone know your plans. Let them know that when you're in business mode, this is your do-not disturb time. You are dedicating this time to you and your business and it's for nothing else. You need to create space for what you need to do, and it's also training yourself in the habits of being a successful entrepreneur. Entrepreneurs are great at managing their time.
13:07
This little activity may sound simple, and it is, which is why it works, but it's also very powerful. Also think, Do I need to be doing this? Do I need to be doing all these things? You're an entrepreneur. You need to step into your CEO's shoes and start thinking differently, and part of this journey is realising that you can't do everything yourself. Prioritise what you must do and get other people to help you with the things that they can do, even when it's usually your job. Get the family on board to help you out with the household chores and the grocery shopping. Get a cleaner. Get a lawn mowing person. Get a pool cleaner, whatever it is, so you can free up time to concentrate on what truly matters, and that is starting your business and spending quality time with loved ones and doing activities you enjoy.
13:58
I always say you cannot have a healthy business without a healthy you. So prioritising you, prioritising time for your business, fitting in your nine to five, is making really healthy boundaries, and it's also making your physical and mental health the top priority. That's going to make you even more successful in every area of your life, particularly your business, if you don't have one already. Start a self-care routine, one that includes exercising, eating a really healthy diet and getting lots of sleep and water. Do things to relax and pamper your body and your mind. Have a warm bath, start listening to meditation apps, do some journaling and make sure you get outside into nature every day, even if it's just a little walk around the block. Just get outside, get the fresh air and the sun on your face and, if you can, take your shoes and socks off, get your feet on the ground, on the grass. Grounds yourself. It has an enormous positive benefit for your body.
15:04
Think about all the successful entrepreneurs. Look at them for some inspiration. They all talk about the importance of taking time out for yourself and prioritising your health and your well-being, and that's because it has such a powerful effect. It's a motivator and it keeps you positive and happy and able to look for all those opportunities. So start now, and it's another way of conditioning yourself into your new entrepreneurial life. We want flow, not hustle, harmony, not stress.
15:36
In life and in business, things don't always go to plan, so you've got to set yourself up to be in that positive mindset and in a position where you can be looking at things with positivity. No matter how much you prepare, life is going to throw you those curveballs along the way that we've talked about before, and you need to expect them. You need to embrace them and catch those curveballs and redirect them where you want them to go, and by being adaptable, embracing change and challenges, you will actually spark creativity in your mind that allows you to think outside the box and come up with new ways of handling situations and turning those challenges that will come your way, turning them into opportunities. And again, this is an entrepreneurial mindset. Mindset is key here, and you need to start training yourself to think like an entrepreneur so that you're going to be successful and the key to success is finding harmony in all aspects of your life. I mentioned earlier that you can't do everything yourself, and entrepreneurs embrace this mindset and surround themselves with the right people. It's important to have the support and guidance you need to help you on your journey. You're learning. You need some help along the way. Get a mentor, get some kind of coach or mentor that will challenge you, advise you and help to keep you on track.
17:07
I wrote a blog a little while ago called the Nine Little Known Strategies to Build a Brilliant and Profitable Business, and in that article, I talk about the importance of getting yourself a business mentor or coach. The most successful business people and entrepreneurs around the world all have a few things in common, and one of those commonalities is mentors. They all had one at various stages of their careers. It's quite common for startups and entrepreneurs to DIY everything in their business and learn as they go. Now, that's definitely powerful and is an important way to do things. However, doing that you can only go so far, because you only know what you know. You need someone who's had more life experience, more bigger picture view, someone who sees you and your business from the outside in and can give you some feedback and some really valuable tips that you can't see because you're too close to you and you're too close to your situation. Even Oprah Winfrey says that mentors are important and she doesn't think that anybody makes it in the world without some kind of mentorship.
18:19
Hiring a mentor or a business coach really is one of the greatest investments that you can make in your business and in yourself. They will actually help you reach your goals faster and with less mistakes and less stress along the way. Another person you need in your corner is your accountant or financial advisor Probably the last person you're thinking of, but they're actually really helpful. They can help you create the perfect budget, help you manage your cash flow, get into the business jargon about finances that you may not know. If you get great advice now, while you're in the early startup stages. It's going to reap rewards for you down the track and you'll be all set up and your accounting system won't have any errors in it and everything will flow a whole lot more smoothly. Also, having support from the people you love is priceless your partner, your friends or family, even your colleagues, can help spread the word about you and your business and even help to get your first few clients. So developing a beautiful, strong support system all these amazing people around you is going to help you be successful. It's going to help you feel more calm, more in control, more on track. You'll have a better idea of how to get where you want to go and it's going to improve your mental health so that you can enjoy your entrepreneurial journey even more.
19:55
Once you've done all this amazing work, it's time to develop your transition plan so you can fully step into your CEO shoes as a startup success. Inside the 9-to-5 exit plan there's a transition planner. Go there and you can map out each milestone and when you're going to complete it by. Entrepreneurs give themselves deadlines, give themselves timelines. So you need to start practicing that now to be successful, and when you do, the day you ditch your 9-to-5 could be even closer than you think. If you want to escape the 9-to-5 grind and you haven't already, download my free 9-to-5 exit plan and you can map out your freedom in just three hours. Go to 16thavecreative.com/ 9-5-exit-plan and get it for free today.
20:46
You can also jump on the waiting list for my amazing new program called Start-Up Success, which will help you build your business from scratch in just 60 days. Two months, that's so fast. You will have everything you need to be running your business in just 60 days and I've got a very special limited spot foundation round opening at the end of October so you can give notice and start your own online service business in 2024. Isn't that amazing. The timeline just got shorter. You'll be so organised, so excited. There'll be no overwhelm, no confusion. You'll just be raring to go and you'll already be earning some money as you do it on the side, before you book or you quit your nine to five, so you literally can stop dreaming and start doing what lights you up. Jump on the waiting list for Start-Up Success today and you will be so glad you did. It has everything. Everything from the initial concept to booking clients. Everything you need You'll have up and running in 60 days If you've made the decision to start your own business.
22:02
I hope that this episode has helped give you some clarity around how to set up your business to be successful from day one and start to get you thinking like an entrepreneur, to start developing those habits and also, hopefully, the pressure is off If you've been feeling like you need to just jump all in, all guns blazing and ditch your nine to five straight away, but at the same time you've been freaking out about the money situation. There's a better way to start that I've just shared with you and that's really going to fast track you to entrepreneurial success. Remember, you can do it. Now is the time for the brilliant business and beautiful life you adore.
22:47
So I will see you next week for part five of our five parts Start-Up Success series and in the meantime, jump on the waiting list for Start-Up Success, download the 9-5 Exit Plan and get busy building your dreams. I'll see you next week. Thanks so much for listening. I'd love to know your biggest takeaway from today's episode, so leave me a comment below or send a DM on Instagram If you enjoyed this episode, hit the subscribe button wherever you listen to the Brilliant Business Beautiful Life podcast and feel free to share it with someone else who'll love it too. I look forward to seeing you for the next episode and remember the time is now for your brilliant business and the beautiful life you adore, and I'll see you next week for part five of our five part Start-Up Success series.
