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Employee to Entrepreneur Transition

Employee to Entrepreneur Transition




It takes quite some time to settle down as a business owner for those who had been employed before.

Specially those who have worked for a long time in various capacities, handled various departments.

The change in mindset from an employee to a Business owner is not easy for most when they start and hence there are some challenges in settling down in the new role.

How many of us are even aware that such a phenomenon exists?
If yes, do we know the influencing factors?

There are a few factors which need to be understood for bringing this transition:

Factor 1:
As an employee, you were a specialist, but as a business owner you are a generalist.

This is just a one liner. But the implications are far reaching.

The moment you decide to be on your own, then comes the responsibilities of the business in totality and not just restricted to what you are specialised in.

Of course, in some cases right co-founders, partners, co directors are handy to handle the areas unknown to you.


If the business(budget) is big enough to have a speialist for all the important departments, then you are one of the luckiest few to get such a startup.

If all such departments are performing well, taking the business to the next level, you are one of the most blessed.


Factor 2
As an employee you were driven by goals and target set by others. Your goal or target or objective was limited to your job.

The role of a Business Owner is different. The entire business will take shape only based on your vision and the speed at which you are ready to travel. 
 
As an entrepreneur - Your speed is the speed of your team and your business.

Factor3:
As an employee the success or failure of the organisation you worked for, or for that matter, even the other departments will only marginally affect you.

Even your own success or failure in your designated role will make an impact only for a short while - till such time you find another job. In most cases the impact is quite marginal.

But, Not for a Business Owner.
The impact on you, your family and your time, resources will be far reaching.
Both good and bad.

These three important factors need to be understood quite well, so that you can prepare yourself for the transitional challenges in the mindset for learning more to handle men, material and situations. 



Far from the most ideal scenario, most of the startup entrepreneurs always have cash crunch, and the most important functions may not be always be handled by experts, leaving room for constant improvement and intervention from the promotors.

That simply means that most times, the start up owners are forced to learn a lot on areas which were unrelated to them till then.


Here comes the bigger challenge......psychological preparations: This is far more tougher...….

New business owners are always under constant pressure for one or more reasons like, lack of cash flow, not getting the right human resources, technical challenges and limitations, poor performance of the product or business, supply and distribution challenges, and various others depending on the nature of the business.

There will also be pressure from family who will be missing them due to their long working hours and travel. Reduced cash flow in the family also leads to a lot of tensions. Previous and future commitments might be threatening too.
And the compromised lifestyle adds fuel to fire.

But at the end of the day having started the expedition, it has to go on.
Go on towards the goal and eventual success that was dreamt of.

Bottom line is this:
You have to be a great student ready to learn a number of new skills and prepare for the transformation.

If one fails to do so, one will be forced to learn at some point or other.

Authored by:
Muralidharan Margabandhu
Business Coach/Consultant
Freedom from Debt Coach
Trainer/Author
Founder Marg Consulting
Founder Startupsuccess.in
Blogspot: http://muralimarg.blogspot.com

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