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10 Steps To Transform Yourself From An Employee To A Boss

10 Steps To Transform Yourself From An Employee To A Boss

Becoming your own boss is a major shift in responsibility. For the first time, your income will be directly linked to your results. Fortunately, many people have made the transition before you. You can learn from their experience. The following 10 steps will smooth the path to business greatness.

1. Prepare For The Learning Curve

Managing yourself in your own business presents a dramatic challenge, quite unlike anything you do as an individual. In order to transform yourself into an effective boss, be prepared to learn. That means adopting a beginner’s mindset. Take note of comments from your customers, as well as those who decline to buy from you.

Action Step: Carry a notebook with you to every meeting so that you don’t lose any valuable insights.

Resource: To navigate through a challenging career change read “What Got You Here Won’t Get You There: How Successful People Become Even More Successful!” by Marshall Goldsmith.

2. Know Your Strengths and Weaknesses

Management achievement starts with self understanding. Knowing yourself for leadership growth is a key way to set yourself apart from other people. How do you get to know yourself better? You can use reflection tools such as the 5 Minute Journal. There is also value in using personality assessment tools such as the DISC Profile.

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To go deep with your strengths, use the Strengths Finder assessment (and read the book: “StrengthsFinder 2.0″ by Tim Rath).

Action Step: Complete a personality profile such as DISC to discover your strengths and weaknesses.

3. Become A Master of Meetings

Meetings are a key professional tool that successful managers use to accomplish work and make important decisions. If you are still complaining about meetings, it is time to improve. Top managers show mastery of effective meeting habits, such as following a written agenda and keeping a meeting focused.

Action Step: Review the meetings you regularly attend and make note of which one is most effective? Visit the person who runs that meeting and ask them for advice on how to run effective meetings.

4. Talk To Three People Who Run Companies In Your Niche

There is no replacement for the advice and insight of successful entrepreneurs in your own industry. For example, if you are planning to open a fitness company, there are many questions you ask before you start. You could; for example, ask successful people how they obtained customers in their first year of operations. In addition, ask what expenses are truly necessary to get started. The answer may be less than you imagine.

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Action Step: Use Linkedin Advanced Search and contact three successful entrepreneurs in your industry. Ask them to lunch. Come prepared with a list of questions!

5. Focus on Sales, Not Business Cards

Starting a business is exciting! The excitement and the potential for significant income are some of the reasons you may feel drawn to start a business. In order for your business idea to succeed, you must spend serious time and attention on sales. Resist the urge to spend a lot of money on business cards, office supplies and other expenses. Sales needs to be the top priority.

Action Step: Experiment with different sales and marketing ideas (e.g. cold calling or online marketing) until you start to find success.

6. Open A Business Bank Account

Managing money effectively is important to growing your business. To avoid tax problems, open a business bank account so that your business expenses and revenues are kept apart from your personal money. Many banks and credit unions offer low cost business checking accounts to small businesses and entrepreneurs.

Action Step: Open a business checking account at your local financial institution.

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7. Create A Business Structure (e.g. The Legal Stuff)

As you work to obtain your first few customers, you may decide to operate as a sole proprietorship. That business structure has the advantage of needing little or no paperwork to establish, depending on your country’s requirements. If you expect to face significant risk or liability, you may wish to consult an attorney or lawyer for further advice.

Action Step: Request a meeting with a business lawyer to seek advice on what business structure to use.

8. Build Your Business On The Side

Building a successful company takes years of steady work and learning from your mistakes. That’s why many people build their companies during the evenings and weekends, while they keep a regular day job to pay the bills. Taking this approach also gives you the flexibility to try several business ideas and target markets.

Action Step: Set a goal for how many hours per week (e.g. 10-20 hours per week) you will work on your “side business” to grow it.

9. Build A Six Month Emergency Fund Before You Quit Your Job

Becoming your own boss is exciting! Unfortunately, some people make the mistake of leaving their day jobs behind before thinking through their financial needs. To give yourself peace of mind, set up a seperate bank account where you save the equivalent of six months of expenses. For example, if your monthly living expenses are $2000, then a six month emergency fund would require $12,000.

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Tip: If you’re not sure where to find extra cash for your emergency fund try reading: Spring Cleaning Your Finances to Find Hidden Money.

Action Step: Open a high interest savings account and start adding money to your emergency fund.

10. Hire Staff Very Slowly

Hiring your first employee is a major step in the growth of a new business. However, a bad hiring decision has the potential to damage your business and waste a great deal of your time. Delay hiring your first team member until it is absolutely required.

Action Step: Look into hiring a virtual assistant to help you grow your business.

Featured photo credit: Businessman/Unsplash via pixabay.com

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Bruce Harpham

Bruce Harpham is a Project Management Professional and Founder and CEO of Project Management Hacks.

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Last Updated on January 14, 2019

The Key to Finding Job Satisfaction and Having a Successful Career

The Key to Finding Job Satisfaction and Having a Successful Career

Regardless of whether you hold an entry-level administration role or regularly travel to the ends of the Earth as a hot-shot senior executive, you can still find yourself harboring an emptiness… a feeling that something is missing. A popular assumption that experiencing job satisfaction and a successful career should be underpinned by a well-rounded suite of tangible benefits, no longer holds true for many of us.

We’d never deny health care benefits, appropriate and fair remuneration, bonuses and travel perks in a job package. However, even if served to us on a silver platter, those features can only satiate us to a certain point.

You might wonder what governs entrepreneurs and start-up business owners to quit their lucrative jobs, essentially look the gift horse in the mouth and kiss such benefits goodbye! There can be an irresistible pull to mastermind a business with products and/or services that serve the greater good of community wider than that constituting their daily existence.

Even with research showing entrepreneurship to pose greater threats to their mental and physical health, this unique breed of individuals choose to go against the grain in chasing their dreams of being their own boss. Why? Why would anyone risk this type of career suicide?

Whether you’re an employee, have recently taken the leap to being a business owner or been in business for a while, the commonality is a congenital condition we all share as human beings; to feel a sense of purpose, value and contribution to our community. Despite it being harder to find this for ourselves in today’s world, these approaches will help you achieve ultimate satisfaction through the twists, turns and joyrides that are essential features of shaping a successful career.

1. Search for Opportunities That Feed Your Passion, Not Temporary Excitement

Even though well-intended, the ‘feel good now’ compass that career coaches and consultants often recommend you use to create career satisfaction can actually do you more harm than good. Excitement is transient. It doesn’t last. Passion is the compass you need.

Passion and excitement are two different things. The resounding career legacy that still draws you to turn up on the job regardless of the sunshine or storm that awaits you…that’s passion. It’s like a mental and/or emotional itch you can’t shrug off. Staying attuned to that calling will breed success for you sooner or later. Patience is key.

You’re also likely to have more than one key passion. Beware of getting caught in the notion you have to find your one true purpose. In fact, run immediately from any coach who tells you there is only one. There isn’t.

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Your passion is a journey that can take multiple forms so forget thinking there is the single dream job out there that will give you satisfaction in every way you can imagine. It simply doesn’t exist.

Consider embracing different roles and projects to help you fuel your passion or fuel your pursuits in finding it. Job satisfaction and your career success will be all the more sweeter from a wider range of enriching experiences.

2. Don’t Position Job and Career Satisfaction Assessments as Pivotal Guides to Your Success

Despite their popular use for vocational guidance, assessment tools such as Gallup’s Clifton Strengths and the Myers Briggs Type Indicator have come under fire[1] as being limited to the amount of true value and direction they can offer partakers.[2] These and many other guidance assessment tools (e.g. VIA Character Strengths , DISC ) are self-report questionnaires that don’t have normative population data against which to compare your results.

Simply remember these tools help you develop a stronger sense of what you identify as strengths and weaknesses within yourself, not in comparison with other people. They will still add insight around what sorts of career opportunities, tasks and projects are going to light your fire, what ones are going to extinguish it and what will prod and keep the coals steadily smoldering.

3. Be Clear on Your Personal Values, Ethics and Principles and Choose Relationships That Support You Honoring Them

Teamwork, collaboration, open communication and trust are commonplace for any flourishing work environment. However, whether or not your personal values can be honored in your work can make or break your job satisfaction.

How committed do you want to be to an organization that expects an average of 10 unpaid overtime hours every week under the guise of ‘reasonable overtime’? Are you willing to accept their construing this expectation as ‘strong commitment’ at the expense of your partner and children waiting at home for you? What are your boundaries concerning when you clock on to their time and when you clock off to yours?

Being very in tune with what your personal values, principles and ethics are will bid you well in the job satisfaction stakes. Spending time to reflect on experiences and working relationships you’ve had – the good, the bad and the ugly – will help you make well-informed searches and grounded decisions that will propel your career success.

Finding and nurturing relationships with associates and colleagues who share similar values doesn’t just make your day-to-day pursuits more enjoyable. You become fortunate to work with like-minded people who will support, understand and appreciate you like a second family.

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Being able to honor your personal values in your work means you will still be able to sleep at night when you have to tread where others fear to, and make extremely difficult decisions others would never ever dream of having to make as you forge success in your career.

4. Be Clear on Your Own Definition of What Having a Successful Career Means for You

It’s tempting to get caught up in the ideals and projections of success expressed by those we love, admire and respect. Underneath, we all want on some level to belong to a successful club of some sort.

With research reporting how much money we feel we need to be truly happy,[3] many of us try to subscribe to the notion that having the car of our dreams or taking a European holiday annually will not bring us happiness. The truth, however, for many of us is these tangible rewards are congratulatory reminders of our persistent efforts to chase our career pursuits.

If those are things you aspire to, don’t let anyone steal your desire and want to feel deserving of these things, that those are some parameters by which you define your career success.

Despite consistently being the top revenue earner for two years running, you may not wish to become the sales manager. You may not wish to step out into running your own business even though you consistently excel as an employee, delighting clients and repeatedly receiving glowing testimonials.

Your definition of career success might be enjoying the predictability of a regular workplace routine. You get to leave – without feeling guilty – at the same time each day, love the people you work with and get to spend a good, uninterrupted amount of work-stress free quality time with your family. That picture is also blissful job satisfaction and complete career success.

5. Identify the Sorts of Challenges and Problems You Want to Learn to Overcome

Standard advice you might receive from a career coach might be to look for opportunities where you get to capitalize on exercising your strengths and career-related activities you enjoy.

However, to become a success at anything involves improvement. To excel at anything often involves stepping outside boundaries and comfort zones where others wouldn’t. This means dedicating focus and attention to things you’re not so good at and things you don’t like.

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Here’s where working with a coach can be particularly helpful. Map out the experiences that were unsavory in your working history. Were there challenges you opted out of, projects you failed at or toxic relationships that blasted your sense of purpose and self-worth into oblivion? It’s within these experiences that you might just find the most valuable lessons and guiding lights for your trajectory to achieve greater job satisfaction.

If your natural leadership style is to be a collaborator, finding opportunities that require you to apply a more dictatorial style might be needed. Discussing a secondment or short-term project where you get to develop and test your skills can be a step further in earning contention to lead a larger project down the track.

With several of the company’s boldest personality types penciled to roll out the operation, you’ll not only develop skills that earn your right to throw your hat in the ring; those key players have an opportunity to see your competence. You can then work on building relationships with those stakeholders before you need to hit the ground running should you win the lead.

Greater job satisfaction comes with planning and choosing the lessons and opportunities you want to learn, not desperately flailing, floundering and hoping for the best.

6. Keep Reviewing Your Goal Posts and Be Amenable to Change

The word ‘career’ is indicative of a longer-term pathway of change, growth and development. The journey is dynamic.

You will accumulate new skills and let those you no longer need, become rusty. Your intrigue will be stimulated by new experiences, knowledge and people you meet. Your thinking will continue to expand, not shrink. As a result, your goalposts are likely to change.

A major part of enjoying a successful career is not just setting goals effectively, but regularly reviewing and readjusting them where necessary. However, moving the posts or the target still needs to take place by applying the same processes by which you originally created them. The strength of your emotional connection to those revised goals needs to be the same, if not stronger.

By asking yourself the following questions, you can assure your developmental and growth trajectory is still on course:

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  • Would working toward these goals still allow me to honor my personal values, principles and ethics at the same capacity if not greater?
  • Do the activities I need to undertake to meet these goals honor my highest priorities?
  • Does this feel right for me and those who are nearest and dearest to me?
  • Is this aligned with my passion?
  • Is chasing this goal a right step for me to take now or is this a detour or distraction which could delay my greater plan?

Each of your career goals should have different review periods. Whatever you do, stick to the review schedule you set. It will not only keep you focused but help you see your progress (or lack thereof) and allow you to timely re-chart your course before you get too far down the track. You don’t want to waste time haphazardly heading in the wrong direction.

7. Be Prepared to Let Go

It can be unfathomable to us as to why others risk leaping into the unknown when everything truly appears fine and dandy in the career realm. The company provided stability, recognition, financial success, interesting projects and the promise of a promotion…what was wrong? Why now jump sideways to run a café or train in another field altogether?

Nothing may have been wrong at all. It was all going right. It was just the end of a chapter. Perhaps the yearning for the next step is actually taking a different trajectory entirely. You may want to simply experience a different rhythm. Perhaps it’s time to pursue a different passion.

If you have leaped from employee-land to freelancing or have made the reverse-jump (or you know someone who has), you will have quickly grown a different appreciation for pros and cons each work lifestyle brings. Working for yourself can bring the greater realization of your creativity, whether or not it can be monetized to earn you a living.

When your customers are buying you or a product you designed and fashioned, there is a direct level of appreciation and gratitude that can elevate your confidence in the way you have never experienced as an employee, regardless of your rank.

Similarly, there are times where we need to recognize our business ventures were adventures, not long-term life-changing empires. There are times we need to recognize that time is what provides the clearest limitation of how long we persist for in such pursuits.

We have to recognize the absence of enough financial, mental, emotional and physical breadcrumbs that tells us we’re no longer meant to push in that direction. At least, not for the present time.

The Bottom Line

Above all, keep the momentum. As long as you remain committed to pursuing work opportunities that allow you to honor your highest priorities, the truth of who you are and what you stand for, achieving ultimate job satisfaction and a successful career will never be too far away.

More Resources to Help Advance Your Career

Featured photo credit: Csaba Balazs via unsplash.com

Reference

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