What happens when you leave corporate to set up your own business?

What happens when you leave corporate to set up your own business?

Leaving the perceived safety of the corporate world to start your own business can seem exciting and a great adventure, or it could be scary and risky, depending on your state of mind. Earlier this year I conducted research amongst 300 women business owners. Even though they said they love being self-employed, it isn’t always easy. The transition from employment can be challenging, with revenue and cash flow often erratic at the beginning. And in many cases they are unprepared for the sheer volume and variety of work encountered in running their own business. They may be very skilled in their area of business but it is the myriad of other demands on their time that they find challenging. Whether it is the legal approach, finances, IT or even managing their own diary, these are things that the women have traditionally relied on the large corporate framework to provide, and in many cases even taken for granted. There is no one at the end of their IT help line to fix the printer! Transitioning from corporate to one’s own business can also be challenging at the level of identity. After many years of having a certain title, reliable salary, working for an esteemed company and perhaps having many staff, when this disappears it can be a shock. As suddenly, those external cues we used to judge our success and identified with are gone. The women then need to update their identity based on their values and refresh their criteria of success. In my experience, when women haven’t done this, they may view their entrepreneurial venture as a failure because...
Thrive! TV Tip ~ What makes you stand out?

Thrive! TV Tip ~ What makes you stand out?

In a competitive market place, we need to stand out from our competition. Have you ever wondered what makes you different? Why your customer chose you over some one else? Take a look at this Thrive! TV Tip and think about what makes you different. Would you like a weekly burst of momentum delivered straight into your in box? Simply click on the button below, we’ll send you the latest tip each week! Sign me up for weekly Thrive!...
Toxic Culture or Glass Ceiling – Why Do Women Leave?

Toxic Culture or Glass Ceiling – Why Do Women Leave?

Why did you leave? I know that most of you probably left corporate to set up your own business to escape the toxic culture and to have more freedom and flexibility. I would love your views on my interview on BBC Radio 4 Women’s Hour – listen to the debate and let me know what you think! Click here to listen! [new_line] Would you like a weekly burst of momentum delivered straight into your in box? Simply click on the button below, we’ll send you the latest tip each week! Sign me up for weekly Thrive!...
Did you lose yourself when you left your job?

Did you lose yourself when you left your job?

When we have a job it can be easy to use the status and position that it gives us as our defacto identity. We relate more to our title and company name than to who we are without it. I know from my own experience, that I didn’t really think that deeply about who I was and my real identity until I left my corporate job nine years ago. Stripped off my office, business card and flashy title, I was unsure how to introduce myself, and how would I talk about who I was? Searching unsuccessfully for a position in a foreign country deepened my identity crisis and I remember spending hours grieving for what I had lost. If you had already taken that step away from your corporate identity or are thinking about taking the leap, spend some time to reflect on who you are, what matters most to you and what is your true identity. I would love to hear from you about your identity shifts as you crossed over from corporate to your own...
What does success look like now?

What does success look like now?

If you have left corporate to start up your own business have you redefined your criteria of success? If you were working for a company for many years chances are your success criteria were defined by your role, your departmental objectives and the company’s targets. Or maybe not…..maybe you defined your own success based on job title, salary and benefits package, overseas trips, class of business travel and number of staff reporting to you. So what happens when the constructs that we defined our success (and sometimes ourselves) by are no longer there? Does this mean we aren’t successful? Starting up your own business means redefining many things, finances, working location, tax status but often we forget to redefine how we will judge ourselves to be successful. From my own experience and working with many Corporate Crossovers®, (women starting a business who have left corporate) not redefining our success criteria can leave us with that nagging doubt wondering if we made the right decision to leave. If left unchecked, it can also grow into vacillation about whether to stay self-employed or to go and get a ‘real’ job again. Personally, I went through an 18 month period of wondering if I should ‘get real’ and get a job again and it wasn’t I took stock and thought about what success meant to me now in my own business, did I realize how successful I was! Taking stock for me involved: examining what was REALLY important to me about the life I wanted to live (my values) how much time I spent working now vs. before (daily hours and vacation) my income...
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