{"id":9247,"date":"2012-06-01T11:04:34","date_gmt":"2012-06-01T18:04:34","guid":{"rendered":"https:\/\/svapm.org\/?p=9247"},"modified":"2012-05-25T15:35:29","modified_gmt":"2012-05-25T22:35:29","slug":"how-do-you-transition-into-a-consulting-position-or-new-career","status":"publish","type":"post","link":"https:\/\/svapm.org\/?p=9247","title":{"rendered":"How do you transition into a consulting position or new career?"},"content":{"rendered":"<p align=\"center\">Professional Development Series by Laura Lee Rose<\/p>\n<p>www.LauraLeeRose.com<\/p>\n<p>Hello, this is Laura Lee Rose \u2013 Corporate Exit Strategist for the Blooming Entrepreneur \u2013 and I am a business and life coach that specializes in time management, project management and work-life balance strategies.\u00a0 As a business coach, I recently received a question regarding \u201cHow do you transition from a corporate job into consulting or self-employment?\u201d This is a great topic, because the answer is useful whether you are interested in starting your own business; OR moving into a totally different career path.<\/p>\n<p style=\"padding-left: 30px\">\u00a0<strong><em>Side note<\/em><\/strong><em>: This is a complex topic.\u00a0 The below tips are very general, intended to provide some concepts and structure for your next chapter.\u00a0 If you are serious about taking that next step, I recommend one-on-one success and business coaching sessions.\u00a0 \u00a0\u00a0<\/em><\/p>\n<p>\u00a0Fear is typically the reason many of us stay in a position or at a company that we have long outgrown.\u00a0 Although there may be many reasons, there are only a few issues that constantly taunt us back to the status-quo versus taking that leap:<\/p>\n<ul>\n<li>Will I be able to sustain my current life-style as an entrepreneur?<\/li>\n<li>Will I have my spousal and family continued support and understanding?<\/li>\n<li>Do I have adequate know-how and energy for this new venture?<\/li>\n<li>Will this new career make me happy?<\/li>\n<\/ul>\n<p>Let\u2019s take each item separately, but briefly.<\/p>\n<p><strong><em>Will I be able to sustain my current life-style as an entrepreneur?<\/em><\/strong><\/p>\n<p style=\"padding-left: 30px\"><em>\u00a0This depends on your current financial situation.\u00a0 Starting a new venture statistically takes anywhere from 3-5 years of investment capital.\u00a0 This mean it would be highly unlikely that you will be generating the same consistent income or salary level from this one endeavor at the start.\u00a0 However, there are multiple streams of alternative incomes that can offset and allow you to sustain your current life-style.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>Quick steps:<\/p>\n<p>1)\u00a0\u00a0\u00a0\u00a0 Meet with your financial adviser to take stock in your current assets and investments.<\/p>\n<p>2)\u00a0\u00a0\u00a0\u00a0 Work with your business and success coach to outline a potential business plan which include: business start-up costs, potential investors and partners, grants and loan possibilities, etc<\/p>\n<p>3)\u00a0\u00a0\u00a0\u00a0 Outline your financial and investment plans which include forecasting when you will be able to take that leap comfortably.<\/p>\n<p>4)\u00a0\u00a0\u00a0\u00a0 While you are still in the corporate environment, take steps to start saving, marketing and investing toward your new company.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><em>Will I have my spousal and family continued support and understanding?<\/em><\/strong><\/p>\n<p style=\"padding-left: 30px\"><strong>\u00a0<\/strong>When you start thinking about a new career or business, money and time will be the family issues that appear.<\/p>\n<p style=\"padding-left: 30px\">Money issues cause ninety percent of divorces and family stress.\u00a0 Money is a difficult discussion with most couples.\u00a0 Although total transparency with your spouse is critical, we typically avoid the topic altogether.\u00a0\u00a0 Because we avoid this topic, we don\u2019t have any experience on how to handle possible conflicts in this area.\u00a0 Continually sharing each other\u2019s nonnegotiable and imperatives for your personal and professional lives are required.<\/p>\n<p>&nbsp;<\/p>\n<p>Quick steps:<\/p>\n<p>1)\u00a0\u00a0\u00a0\u00a0 If you need some guidance with these difficult topics, meet with a couple communication expert or mediator,<\/p>\n<p>2)\u00a0\u00a0\u00a0\u00a0 Obtain a good understanding of how your family values and connects with money.<\/p>\n<p>3)\u00a0\u00a0\u00a0\u00a0 Define your personal and family nonnegotiable and imperative lists.<\/p>\n<p>4)\u00a0\u00a0\u00a0\u00a0 Work with your business and success coach to define a strategy that keeps your nonnegotiables in focus.<\/p>\n<p>5)\u00a0\u00a0\u00a0\u00a0 Work with your business and success coach to define an approach the supports your family\u2019s financial and money concerns.<\/p>\n<p>6)\u00a0\u00a0\u00a0\u00a0 While you are still in the corporate environment, take steps to budget and invest your money to calm family concerns.<\/p>\n<p><strong><em>\u00a0Do I have adequate know-how and energy for this new venture?<\/em><\/strong><\/p>\n<p style=\"padding-left: 30px\"><strong>\u00a0<\/strong>You don\u2019t have to do it alone.\u00a0 You already have your business plan that identifies the skills and initial scope of your venture.\u00a0 While you are still in the corporate environment, start identifying both your skill gaps and the type of team you want in your circle.\u00a0 Even though you might start off as a solo-entrepreneur, you will need a supporting cast.\u00a0 We have already mentioned your financial adviser and success\/business coach.\u00a0 Think of others that you would appreciate on your team.<\/p>\n<p>\u00a0Quick steps:<\/p>\n<p>1)\u00a0\u00a0\u00a0\u00a0 Talk to managers, co-workers, associates and friends to identity your skills gaps.<\/p>\n<p>2)\u00a0\u00a0\u00a0\u00a0 Select the technical and soft skills that you are comfortable incorporating into your professional and individual skill set.<\/p>\n<p>3)\u00a0\u00a0\u00a0\u00a0 While in the corporate environment, visualize your team.\u00a0 Identify the type of people you want to surround yourself with, in your new career.<\/p>\n<p>4)\u00a0\u00a0\u00a0\u00a0 Create a complementary and diversified team that sufficiently fills some of those skill gaps previously identified.<\/p>\n<p><strong><em>Will this new career make me happy?<\/em><\/strong><\/p>\n<p style=\"padding-left: 30px\"><em>\u00a0Many people\u2019s dream-job description is to \u201cget paid for doing what I love\u201d.\u00a0\u00a0 This is a solid definition, but would you really be happy being paid $1.00\/hr for doing the thing you love?<\/em><\/p>\n<p style=\"padding-left: 30px\"><em>\u00a0If not, then there are some additional questions to consider:<\/em><\/p>\n<blockquote>\n<ul style=\"padding-left: 30px\">\n<li>How much do you want to be paid?<\/li>\n<li>Is there an actual market for your services?<\/li>\n<li>Are people willing to pay you that much for your passion?<\/li>\n<li>How many hours a day, week, month do you want to work?<\/li>\n<li>What combination of items defines your happiness?<\/li>\n<\/ul>\n<\/blockquote>\n<p style=\"padding-left: 30px\"><em>\u00a0Even though the reason for branching out on your own is for self-satisfaction and joy, we need to approach it as a business.\u00a0<\/em><\/p>\n<p>\u00a0Quick steps:<\/p>\n<p>1)\u00a0\u00a0\u00a0\u00a0 Define your personal nonnegotiable and imperative items that define your happiness.<\/p>\n<p>2)\u00a0\u00a0\u00a0\u00a0 Work with your business and success coach to define a strategy to keep your nonnegotiables in focus.<\/p>\n<p>3)\u00a0\u00a0\u00a0\u00a0 Create a business plan that outlines your services, target market, niche, and market needs.<\/p>\n<p>4)\u00a0\u00a0\u00a0\u00a0 Create a marketing plan and strategy to attract your target client.<\/p>\n<p><strong>\u00a0Conclusion:<\/strong><\/p>\n<p>This is exactly what I do.<\/p>\n<p>I work with blooming entrepreneurs to transform the life they have into the life they really want.\u00a0 Together we develop strategies to comfortably take that leap at the appropriate time.\u00a0 In the meantime, we also work on tactics to increase ones value (and passion) in their current environment.\u00a0\u00a0 This is my niche and I am an expert at it.<\/p>\n<p>The general steps we follow:<\/p>\n<p>Quick steps:<\/p>\n<p>1) Clarify their entrepreneurial goals (whether within the company or outside)<\/p>\n<p>2) Define the gaps between where they currently are and where they want to be<\/p>\n<p>3) Investigate avenues within the company to fill those gaps<\/p>\n<p>4) Recognize opportunities outside the company (like hobbies, etc) to fill those gaps<\/p>\n<p>5) Put the pieces together into an Individual Career\/Business Plan (including financial, family and work life balance needs).<\/p>\n<p>6) Tracking metrics and progress along the way (as well as celebrating our accomplishments)<\/p>\n<p>We work together to define a well-balanced, 360 degree approach to starting that next chapter in life.<\/p>\n<p>If you enjoyed this article, similar articles can be found at Laura Lee Rose\u2019s <a href=\"http:\/\/eepurl.com\/dUi81\" target=\"_blank\">Professional Career Development Library<\/a>\u00a0 (or subscribe to this link <a href=\"http:\/\/eepurl.com\/dUi81\">http:\/\/eepurl.com\/dUi81<\/a>)<\/p>\n<p>If you are interested in more detail professional coaching or a professional coach to help you stay on target with those goals, please consider one-on-one coaching sessions to propel you forward faster.<\/p>\n<p align=\"center\">Copyright \u00a9 2012 www.LauraLeeRose.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a business coach, I recently received a question regarding \u201cHow do you transition from a corporate job into consulting or self-employment?\u201d This is a great topic, because the answer is useful whether you are interested in starting your own business; OR moving into a totally different career path.<\/p>\n","protected":false},"author":1508,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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