Making the Jump from Employee to Entrepreneur During the Pandemic

Computer and Entrepreneurship

We’re all familiar with the old saying “when one door closes, another one opens” and how we sneered at its souvenir shop, bumper sticker wiseness.

Then the Covid-19 crisis came. The business world took a direct hit, making many of us rethink our strategy and sometimes even consider an entire career change. But for many people reinventing their career proved to be a blessing in disguise.

Here are a few tips to help you make the jump from employee to entrepreneur during the times of Corona.

1 – Identify What You Want to Do

You probably have a pretty good picture of the jobs you don’t want to do. But, as many career coaches encourage, you also need to be clear on what you do want. In other words, you need to envision a concrete goal for yourself and channel your energy towards it.

Start by writing down a list of skills. For example, if you “like to read, be on the move, talk to others and create creative presentations”, then maybe you should scout for a place in public relations or tourism.

Other questions you should ask yourself before planning your next step: How much are you willing to invest? What kind of company culture do you wish to impose? What type of skills do you possess and what skills are you willing to develop?

If you still haven’t made up your mind, you can sneak a peek into online job boards for inspiration. Make a list of domains you think are best suited for your potential- say marketing, teaching, travel assistance – and make sure there is a market for your new company.

2 – Follow an online course

With the world of business now more competitive than ever, standing out from the crowd has never been harder; however, investing in the right business training courses can give you a significant edge. This will allow you to develop your financial management skills, get in tune with modern technology and also expand your network with like-minded professionals.

In regards to the effectiveness of online classes, a 2009 study from the Department of Education found that students taking online courses outperformed their peers in traditional classrooms.

During this year’s lockdown, millions of people discovered the advantages of online courses. You will be amazed by how much commute time you will be saving. Tuition fees are also a fraction of the cost found at a regular institution. And last but definitely not least, class recording is available, so you can revisit the course at any time.

3 – Build your new brand

Once you found the market you wish to tap into, it’s time to start setting up your brand identity.

If you want to build a successful, sustainable business you need to tell others why you do what you do what you do and how you do it better than others.

Each element of your brand, from the colours and texture of your business cards to the staff you hire is part of your brand story and every element should reflect the truth about your brand.

And since it’s 2020, remember that a robust social media presence is a key component of digital marketing. Identify the platforms your target audience is most active on and start creating a community. Promoted posts and advertisements should come after you’ve already built a strong awereness base.

4 – Embrace many selves

Do not limit yourself to a single vision. In uncertain times it only makes sense to pursue a range of multiple possible futures… and multiple selves. Some may be rooted in experience, others may be vague, untested and maybe even a little idealistic.

But now, more than ever, it is vital to cover as much ground as possible and venture outside your comfort zone. Do not be afraid to ask questions. Acknowledge your lack of experience, but act with confidence.

Change your haircut, change your attire, imagine you are playing a part in your own movie. Embrace that process and explore as many “yous” as you can. After all, your new and improved version will be the face of your new business.

5 – Set a financial milestone and invest the rest

Don’t think small. This next tip comes directly from a self-made millionaire. First, try to save $100,000. Why? You need to prove to yourself that you can go out and get the money. If you only have $10,000 saved, your only priority should be increasing your income so that you can save more.

Saving $100,000 shows that you have an ability to make money and then keep it. Most people can’t do either.

You should then find other ways you can add income to the job you already have. Your flows should always be connected.

Whatever path you chose, expect the unexpected. It is always wiser to pursue a diverse portfolio of options rather than sticking stubbornly to one. Use these uncertain times to your advantage and explore your full potential!