How can I leave my job and keep the money coming in when starting a business?
The 64 million dollar question! But it can be done, I left my corporate career without a penny and managed to pay my mortgage and bills until my startup was bringing in money independently. So here’s some ideas and food for thought on how to still bring in the money once you’ve left your job and you’re in the initial stages of starting a business:
Gain work in a field similar to your business startup
So as not to fall back into the I’m-still-in-a-job trap, look for temporary/a few hours a week, work opportunities that are in a similar or closely related field to your business startup. Firstly, work out what you need to bring in as an absolute minimum to cover all of your necessary (cancel gym membership and get pounding the streets instead!) bills. This should be a fraction of what you are currently used to spending. Have a search around, make connections, network and listen out for opportunities doing work that is closely related, so you can gain some experience and money while you’re building your startup. For example when I started my coaching and training company I used my teaching qualification to do some tutoring, a website I registered on sent me lots of tutees so the spare time I had come be spent building my new startup.
Start by Freelancing your services
There are now lots of websites dedicated to finding work for freelancers: people per hour, freelancer, elance, up work and so on. So take a look around and find out which site could work for you. These freelance sites offer their customers a way in which they can pay for the work you as the freelancer output; by the hour, by the project, expert level and all sorts of varied approaches. Make sure you do your due diligence on them all. Once you’ve selected the one for you, register your details, get yourself a profile set up and do make sure you are going to paid accordingly for your work, so you can keep focussed on your start up and what you want to achieve from that.
These could be people that are doing what you want to do in your new start up business, who are further down the line. Do a search on people who are running a similar type of business and see if they have any opportunities for you to work with them, for them to pass work on to you if they’re too busy, geography is not quite right…whatever reason. You just never know what could be out there, have some conversations and see what opportunities unfold. You may wish to pick up my ‘Boost your Confidence’ free download for this one!
There are always lots of options available to you. Step away from the challenge, try putting yourself in another person’s shoes to work out the ‘how’ and then take action.
Clare at Meta4 has been running her own coaching and training business since 2007. Clare offers loads of great freebie resources to help you grow your business; they’re easy to implement, engaging and most of all they get you your business growth results!
Clare Whalley celebrated 10 years in business in 2017. A great milestone to achieve. She graduated with an International degree in English and Education and went into corporate life to pursue a career outside of teaching. Successfully passing a rigorous graduate scheme into a blue chip company; working in several positions across team management, customer service and sales roles. A working trip to India helped her decide to resign, retrain and set up her own coaching and training business.
Clare now lives in Sutton Coldfield, Birmingham with her two young children, Isabelle and James and her husband Rob.
Clare works with fellow business owners to help them create a business they love too. She uses strategies and tools which will help business owners get to the clients they love to work with, with more consistency and ease.
To find out more about my small business coaching programs click to download here or to have a chat with Clare to find out more about how coaching can help you and your business book in for a free one hour business strategy session.