I’ve been intending to write a bit about my move into business ownership for a little while now and have finally found the time to put some ideas down.
The drive and ambition to run my own business has been around a long time. I recently found my school careers report and although the computer generated job suggestions centered on my maths strengths, in my gut there was a drive to one day run my own business. And now I have!
My unrelenting appetite for learning means I always have a book on the go. And through many different channels I pick up recommendations and put them into a consolidated list (one of my many systems). One of those books was ‘Rich Dad, Poor Dad’, Robert Kiyosaki’s explanation of the differences between employees, the self employed, business owners and investors. It’s one of those books once you’ve read it, you can no longer ‘unread it’. The epitome of a paradigm shift in thinking.
Alongside reading the book came the opportunity to invest in property with my partner Jonathan. So several books, networking events, a couple of courses and several webinars later we settled on our investment area of Southampton, my university city, and started to view some houses. Lots of houses. And within 18 months we’d purchased a flat and multilet (HMO) which provided a great starting income. There was a lot more blood, sweat and the odd tear behind the properties, but the result was amazing!
The decision to leave my project manager job at Sky was not taken lightly,instead based on a culmination of factors – the ability to support myself, my outgoings / dependencies, the market etc. And they lined up in such a fashion that both myself and Jonathan thought it was the right time.
Since then there has been a lot of learning, development, networking, growing and now the business is set up. Current work has been on generating leads, getting cashflow into the business and really accelerating our progress.
In each of these blogs, I want to provide my learnings / suggestions to make you think. Therefore for today here are three thoughts on making the entrepreneurial leap:
Do it for the right reasons – if you’re in a job you love, it’s making you the money you want and you have the time for other things don’t leave your job because it seems the ‘in’ thing to do
Know yourself – sitting at the start of a blank week which you have to fill with the right tasks is a challenge. Are you disciplined, focused, driven, able to push yourself. If not, you need to seriously consider whether you can take the steps you really need to, to be successful
Don’t jeopardise what you currently have – make sure you are very clear on your current position, whether it be financial, physical, emotional etc. Ask yourself clear questions on how long can I survive, what could be the impact on my family, what will I have to give up, what’s going to change?
Ultimately running a business is a hard, challenging, rewarding experience, and a decision which should not be taken lightly. But in the end it brings with it great benefits.
If you’d like to know more about what I’m up to, or to just grab a coffee, contact me using the contact page on this website or email me at firstname.lastname@example.org.
Until next time…
Myself (Andy) and my business partner Jonathan were full time corporate professionals working in London. We realised that a corporate job would not secure our financial future, and that ultimately we were dependant on working to live. With the reassurance of pensions being eroded and the retirement age extending later and later we decided last year to take control and build a property asset base, that enables us to be financially independent both now and in the future.