From Employed to Self Employed

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Housekeeping?

• Questions: Chat, Q&A
• Will answer at some point
• Listen only mode

ABOUT TODAY

• Employed to self employed
• Next steps on your career journey
• Not offering advice about leaving paid employment

Name & Location

Are you currently employed or self employed?

Would you like to start your own business?

3 keys to Success

#1. Success is a journey and you will get there if you remain on the road.

#2. Fear will hold you back but faith will keep you going.

#3. Purposeful action is essential to achieving you dream.

10 Questions you need to ask yourself before starting your own business.

#1. Why do I want to start my own business?

#2. Do I have what it takes to run a business?

#3. How do I rate my chances of success?

#4. How will I pay my bills as I go along?

#5. Do I have anything to sell?

#6. Do I have anyone to sell to?

#7. What fears do I have about owning a business?

#8. Do I understand my business risks?

#9. Who do I know that I can talk to?

#10. What other questions have I not asked myself?

Talk is cheap.
Many have dreams but
very few do anything about it?

What values are important for success as a business owner?

Integrity

Innovation

Excellence

Respect

Accountability

Fairness

Bias for Action

When is it a good time to leave paid employment?

How do I raise the initial funds to start as self employed?

Is it ethical to start a business when I am still employed?

How do I know I have the right product or service?

Do I need a business plan before I start?

How do you market your products effectively on a low budget?

You have to be smart and frugal

DIY

Allocate time for your marketing effort

Things to Remember

• Ask questions and do your research
• Who does your product appeal to
• What works for (A) may not work for you

Things to Remember

• Looks easy but not easy
• Noisy platforms
• Be creative & stand out

Low Budget Marketing Ideas

• Your website
• Publish helpful content
• Webinars
• Podcast
• Offline events

Social media

• LinkedIn
• Instagram
• Facebook
• Twitter
• Pintrest
• Add to the list

Tips for Marketing Success

• You cannot be effective on all platforms
• Do the work
• It takes time
• Be consistent

Do I need a Business Plan?

Your business plan is your roadmap

To fail to plan is to plan to fail.
...unknown

Proper Prior Planning Prevents Poor Performance

You can build your castle in the sky but at some point you have to put your feet on the ground.

Yes the future is uncertain...

Business Plan Questions

• Why do I want to start a business
• What product or service will I sell
• What experience do I have
• What training do I require

Business Plan Numbers

• Units I need to sell to a month to stay in business
• Money required to start
• How long till profit
• Gross profit
• Net profit

More Questions?

• Finance
• Tools & software
• People
• Current & future responsibilities
• MVP

Who is the plan for?

• You
• Investors
• Creditors

What the plan is not

• Guarantee to success
• Creating & Implementing
• Will not answer all your questions

Faith or Fear?

Can I start a business while working for someone else?

You need multiple streams of income

Every employee needs to have something else they are doing on the side

Good for you and good for your employer

Benefits for you

• Fear of job security reduced
• Additional skills
• More ideas to contribute
• Test your ideas

Benefits for Employer

• Skills learnt outside brought inside
• More fullfilled worker
• More productive at work
• Already have multiple jobs

Do's

• Remain Productive
• Manage your energy
• Deliver on your targets
• Know when to quit

Don't

• Steal time and resources
• Steal clients or compete
• Steal other employees
• Brag about what you are doing

How to Manage Your Energy to prevent Burnout?

#1. Learn to say no with a smile.

#2. Go for completion and not perfection.

#3. Get help. Build a team.

#4. Make a list & Prioritise.

#5. Create Margin in your life.

#6. Protect your free time.

#7. Set and keep limits to your work day and work week.

#8. Learn to be comfortable doing nothing.

Questions?

Leadership Qualities

Leadership Qualities

• Inspirational
• Engaging
• Relational
• Visionary
• Emotionally Inteligent

Leadership Qualities

• Ambitious
• Courageous
• Can do attitude
• Resilence
• Enthusiasm

Leaders are Readers

• Lean Startup
• Blue Ocean Strategy
• Do The Work
• Ego Is The Enemy
• Deep Work

More Books to Read

• So Good They Can't Ignore You
• David and Goliath
• Achievement Habit
• Made To Stick
• Rich dad Poor Dad

More...

• The Messy Middle
• Elon Musk
• Think & Grow Rich
• If You Want To Walk On Water You Have To get Out Of The Boat
• The Impossible Takes a Little Longer

And More...

• The Icarus Deception
• The E-Myth Revisited
• The Millionaire next door
• The Science of Rapid Skill Acquisition
• How To Win Friends & Influence People

Next Steps

• Commit to 1 action
• Lookout and attend future webinars
• Connect with me on Instagram & Facebook

Untitled Slide

Wole Ososami