Part 3: Full or part time?
It may be tempting after reading our ebook to run out and quit your job. Use caution in your overzealousness. It’s great to be fired up about becoming a Freelancer and you will soon learn just how to go about it. But you need to be wise. Have a cushion. It might be best to test the waters and moonlight after hours first unless you have capital to sustain yourself for potentially many months following your depart with your current job. Many people make this mistake. It is a big reason why many businesses fail within the first year, because of lack of preparation. I too, admittedly have done this in my youthful entrepreneurial days. I nearly lost everything because I gave up the security of my job to venture out on my own, only to quickly realize all of the perks that come along with having a steady paycheck.
When you are just building your name and reputation, it takes time. You’ll have to work extra hard in the early stages of your Freelancing career to get it launched. The more effort you put in, the sooner you will be able to quit that job you’re tired of. Timing is important so that you stay on track to succeed, not fail.
Some people are able to do this more rapidly than others. You may have such a great idea that it takes off almost immediately! However, if you have something similar to a lot of competitors, then you will have to get focused on marketing and networking at every available opportunity you have to do so. The exception to this is if you are choosing a Freelancing career for which you already have built a reputation and have experience doing. The effort will be much faster.
Consultants, for instance are a good example because they often have years’ worth of connections from the business community. They have met professionals at Chamber mixers, networking functions, trade shows and know vendors within the industry. This makes the transition from employment by a corporation to self-employment much easier because the consultant can use many of the same networks he or she has already developed. Plus, he may be able to show samples of success with an already-established portfolio, whereas the Freelancer who is doing something totally new will have to create those first samples to show off to prospective clients. Before you leave, make sure you have not signed any non-compete contracts with your current employer unless you are starting a business that is completely different from the field which you are presently tied to. Venturing out on a totally unique endeavor would be best if that is the case, just to avoid any future hassles for your new business.
What it boils down to is that you don’t want to do anything irrational. When I coach people on their newfound phases of entrepreneurship, I recommend gradual stages with the employer. First, work your own Freelancing business completely on the side. Work nights, weekends and whenever you have a chance, without burning yourself out but with noticeable and rapid progress. Then, once you see some results and paychecks from your efforts, cut back to part time at your ‘real’ job. Wean your employer off his need for you. A lot of employees think that their jobs cannot get along without them. You think you are indispensable, but no one really is. They will always find someone to replace you. So if you’re not quite ready to leave there, then don’t deliberately become lackadaisical or sloppy with your work. You know it’s not your passion, but you still need to put in 100% of your effort. NEVER burn any bridges with employers because you never know when they will come in handy for references. Leaving on bad terms will only put a sour taste on both of your tongues and it’s just not a good idea to end it like that.
“I long to accomplish great and noble tasks, but it is my chief duty to accomplish humble tasks as though they were great and noble. The world is moved along, not only by the mighty shoves of its heroes, but also by the aggregate of the tiny pushes of each honest worker.”
- Helen Keller
Once your job becomes used to you being around only part-time, if your main focus is on growing your business and you have achieved set levels of success, then it may be time for another step by asking to be placed “on call”. Meaning, if another employee calls out sick or there’s a shortage of staff during vacation requests, you may be called to fill in. If that is not a possibility, then it will be a sign for you to leave. As they say, “When one door closes, another opens.” Pretend it is like a breakup with a boyfriend or girlfriend and tell your boss you will always like to remain friends.
Eventually, you will grow restless with that job as your own Freelancing career flourishes and you attract more and more clients for your own assignments. Once that happens, your release of your job will be more like a big sigh of relief because you will have 100% of your focus on doing what YOU really want to do. You’ll get paid handsomely to do what YOU LOVE! That is truly one of life’s greatest pleasures.
To Sum it up – Weaning off Your Job:
- Start your business by Moonlighting while you keep your full-time job. Put in as many extra hours for yourself as possible to establish your presence.
- Once you have built up enough new clients and you are progressively getting busier, cut back to part-time at your job. This will give you more time to focus.
- After you get so busy with your new Freelancing career, suggest dropping back to an “on-call” status or working remotely from home.
- As soon as you are able to cut the cord with your job, never burn any bridges and leave your resignation while on good terms.
An old guy once told me when I ventured on my solo path – “The greatest job you could ever have is one that you would do for free if you could afford to, because you love it so much.” You know… those old guys are really pretty wise!
