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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 May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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