5 Strategies for Transitioning From Your Day Job to Your Side Business

{re-posted from MommyNoire.com}

It’s a New Year!

I’m a sucker for blank slates. Whether it be cracking open a brand new notebook or opening up WordPress to compose a new blog post, the thought of starting anew is insanely invigorating for me. The start of January evokes the same feeling. With each new year comes the prospect of new opportunity, and for so many women I talk to, rebranding clients or otherwise, that includes the chance to reinvent themselves or their businesses based on where their true passion lies.

Exactly one year ago, I found myself embarking on what was quite possibly the biggest reinvention journey of my life to date: I was officially self-employed after a decade of practicing law for a private firm and the federal government. It was both a thrill and incredibly terrifying! When it came to my spirit and my sanity, the career change was 100% necessary; I was experiencing burnout at work from juggling family with career, and it was reflecting in my attitude and performance both on the job and at home – a bad look all around! And so, with much thought and planning with my husband, I took the plunge.

That sounds so daring and sexy doesn’t it? Truth be told, a lot of preparation, discussion, strategizing, and failed attempts at all of the above resulted in me finally being able to draft my resignation letter. By far, the number one comment I heard from people was: “You’re so lucky! I wish I could do that too, but I have no idea how.”

I’m here to tell you that ‘luck’ has nothing to do with it. What’s that old saying? “Luck is where preparation meets opportunity.” I couldn’t agree more – laying the groundwork and then timing your reinvention thoughtfully is critical.

Twelve months later, I can point to 5 specific strategies that made my transition successful:

1. Treat Your Day Job As Your First Investor. I’m not sure where I first heard this but it made perfect sense to me! We often worry about seeking funding from family and friends for our ventures and passion projects while ignoring the solid paycheck we are currently receiving at our day jobs. Set aside a portion of your current paycheck to serve as startup capital for your future project or side business. Those savings can also come in handy for living expenses while you get your new gig off of the ground.

2. Experiment. This was a huge one for me. I launched my blogs and my businesses while working. {For a great resource, check out Tai Goodwin’s Launch While Working site.} Doing this allowed me to try a few different ventures before finding those that had viability (and that I was truly passionate about). Because I was still working my full-time job, I had the luxury of experimenting with various business models without impacting my family’s budget.