From the course: Small Business Secrets

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Making the transition to full-time business owner

Making the transition to full-time business owner

From the course: Small Business Secrets

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Making the transition to full-time business owner

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So let's say that you've made the decision. You're serious about this idea of moving from being a full time employee to a full time business owner. Now, if you can be focused, if you can move all the way from one to the other, your success is more likely. But, keep in mind that small business ownership isn't for everyone. So let's go through a little bit of a process together of determining, first if it's right for you and then if it is, how to make that transition. First of all, let's talk about your risk tolerance. Being a small business owner is risky. There is a lot of variability in your pay scale from month to month. And a lot of times if you've become used to getting a regular steady paycheck from a company, that thought can be very frightening and very intimidating. Ask yourself are you willing to accept that risk, not only the risk of pay but the, the uncertainty of how many hours you're going to work. A lot of people think they're going to be able to work less as a business…

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