4 Steps for Transitioning from Corporate to Entrepreneurship

I did something last week that I never thought I would ever do in my lifetime. I walked away from my job. I actually retired from corporate at 51 to pursue my dream of Coaching full-time!! 

About 10 years ago, I divorced my ex-husband. Through this, I became involved in Personal Development. That led me to Tony Robbins' Unleash the Power Within. It was there that I heard him say "you have to burn your boats", meaning when you want to accomplish a big goal, you have to give yourself no other choice but to succeed in your endeavor and I thought "this guy's nuts! I could never do that! How irresponsible! I have bills to pay!" At that time, my mind was not able to make the leap from security/comfort to uncertainty. Yet, here I am. I made the very decision which I thought was nuts just 5 short years ago.

To get there, I followed a simple 4 step process. 

Step 1: Take Stock of my Life; Present and Future 

The first thing I did was to look at where I was. You see, I worked in a pretty cool industry which I have loved. There were many reasons why: the excitement of winning a big project, traveling the world, a very good salary which allowed me to live comfortably, working with really great and passionate people, feeling like I was making a difference in my co-workers' lives and in the lives of the consumer and finally, it was always fun to tell people that we "smelled all day". 

However, I also understood that since getting Certified in Coaching 5 years ago, this was where my heart really sang. Unfortunately, I could never find the right balance between doing a great job at work and a great job in building my coaching practice. When COVID hit, the gap became even bigger. Working long hours, fighting the virus and dealing with exhaustion, all led to the realization that something had to give. Would I have the courage to draw a line in the sand and say "this is where my old life stops and my new life begins"?

To make this decision, I looked through the lens of High Performance and four of these principles were instrumental in this decision:

I needed to have CLARITY about who I was and who I wanted to be. I began asking myself questions like "Where is my passion?" "How do I need to grow?" "Where can I make the biggest difference?" "Can I actually do this?" "What's the worst and best that can happen?" "Other people have done it, why can't I?" "How can I made this work and increase my chance of success?" and made a list of the pros and cons of staying and retiring. 

Frankly, I was wiped, on the verge of burning out, so I wasn't successful at generating the ENERGY I was seeking on a consistent basis. Part of the reason is that although I love this industry, I was not as passionate about it as I used to be. But I knew that if I was able to focus on Coaching full time, my energy would increase because I was following my calling.

I had to raise NECESSITY to make this successful. Without a salary coming in, I would have to do whatever it took to make sure I could pay my bills and provide for my family! This is when Tony Robbins' words finally sunk in. 

Finally, did I have the COURAGE to walk away? See, I recently redefined the three words that I want to live by and Courageous is one of them. I am not one to make a decision on a whim. After weighing everything, having the courage to run towards my dreams became a fait accompli. I also wanted to be congruent. How could I coach others in having the courage to do what matters if I wasn't able to follow my own advice?

Step 2: Determine Financial Viability

This was a tough one! Certainty is one of my main human drives and working in corporate offers you a sense of security. Every month, you can count on your paycheck and you build your life around that; when you pay certain bills, how much money you want to put away for retirement or vacation, when you want to splurge and go out to dinner, etc... At the same time, it's really a "perceived" security. How many people have been downsized or companies have gone under seemingly in an instant? 

Again, I seeked to have more clarity and started getting in touch with financial advisors for a free consultation. That alone helped me understand how long I had until I needed to start panicking!  It took a lot of pressure off and allowed me to focus on the excitement of the future rather than worrying about whether or not I was biting off more than I could chew.

In addition to that, I reviewed all of our expenses in 2020. I had set up budgets in the past, but I always treated them more like a guideline. After looking at our spend, I noticed some areas that we could be more frugal with and set a strict budget for us to adhere to, which in turn also gave me peace of mind. If you don't have a budgeting system, I highly recommend mint.com. I have been using them for years and love them!

Step 3: Listen to the Signs from the Universe

Once I became open to the possibility of transitioning to coaching full time, several things happened which reaffirmed I was making the right decision:

• People started reaching out to me to learn more about High Performance Coaching
• I was getting the same consistent message no matter what trainings I listened to
• And the biggest one was the passing of a dear friend of mine at the age of 52, just a year older than me. That gave me pause... I had always heard people say "I don't want to die with my song still in me" and it never felt more true. See, Cheryl was living her passion, she was working with women in leadership, coaching, had her own business, was a published author. She was an inspiration to me and even in her passing continues to inspire me

Step 4: Examine who I Surrounded Myself with

None of us is not an island, even if we feel more isolated these days. Our circle of influence makes a huge impact in our life. Would I be supported by those around me if I made this decision and would they help me to succeed? The answer was a resounding YES! 

I wondered how my Dad especially was going to take the news, since we worked in the same industry. I dreaded having the discussion with him and though he was worried and he simply wanted me to make sure I had thought things through.

I have a wonderful man by my side (shoutout to Justin!!!), who often believes in me more than I believe in myself and knowing he would be on this adventure with me gave me strength.

I have a wonderful network or friends, in and out of the coaching/personal development community who have been nothing if not excited that I am following my dream.

With this line-up, there is only one possible outcome; SUCCESS!!

The Bottom Line

I had a choice to make: Follow my dream OR continue to follow in my family's footsteps. I chose the former. So a new adventure begins and although it's scary, I'm also excited about what the future holds!

What dreams are still in you? Can you imagine how you would feel, how much grander your life could be if you had the courage to take a step in the direction of your dreams?