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How to Ditch the Corporate World and Venture Out on Your Own

Starting your own business venture can be a great and successful way to break free of your 9-5.

If there was one good thing to come out of the global pandemic, it most certainly is the fact that virtually everyone on the planet has had a significant amount of time to evaluate their life’s circumstances and determine their future course. For some people that meant starting, or deciding not to start, a family. For others it meant relocating to a new city, and for some it meant changing the course of their career. 

Many of the biggest corporations in the world have announced their places to return to the office. Some have already instituted hybrid schedules. The fact remains that in some way shape or form, working remotely is not going anywhere anytime soon.

Having said that, if you are someone who took to this right away and has decided that this is now a non-negotiable for your professional life, good for you! Below are three ways to help you feel encouraged and motivated to leave the corporate world and find success and freedom to venture out on your own.

Start Your Own Business

Breaking away from your traditional 9-5 does not have to mean leaving your industry. If you hold a job you love in a sector that you enjoy being in consider starting your own business. You can go about this as either an independent contractor or a full-blown, staffed up enterprise. Finance is one area of the corporate world that will always be in demand in some way, shape, or form. There will always be a need for accountants, bookkeepers, and tax prep professionals. Even if you decide to go at this alone you will still need some supplies to get your new business off the ground. 

This can range from the proper technology, all the way to a small home renovation. A renovation may be needed to create an office space that suits your needs. Obtaining a personal loan from a private lender can help you get your finances in order. This is important as it can help support you if there is any shift in income. Plus it can free up money for expenses that your new business demands.

Another great thing about this industry is that because of its high demand, you can break into it at virtually any time. You can also do so at any stage in your career. Maybe you do not yet have experience in the finance world, but you want to leave your 9-5. There are software programs, classes, and tutorials available to get you up to speed. You can even get certified to be able to work in this industry as a beginner and still be in business for yourself.

Join the Gig Economy

The gig economy is a relatively new professional concept. It essentially means piecing together numerous gigs to equal one total job and income. While this is less traditional than starting your own business that certainly does not mean that it will garner less success. In some cases, those who venture out on their own can out earn their former salaries associated with their corporate jobs. 

Some examples of opportunities here would be freelance writing, contract work for small businesses, or meal or grocery delivery services. You can even get into private childcare. As a professional within the gig economy, you can expect total control over your schedule. This also gives you control over your earning potential. With delivery services for example, you simply use your smartphone to acknowledge when you are, or are not, available to work. You can start and stop on your own timeline. 

Although comprised of many pieces, a career of this style is still considered a version of a business. Having said that, you should know and consider what kinds of modern technologies your business should use to optimize for success and profitability. For example, if you plan to focus on freelance writing, you are going to be sure that you have a strong and fast internet connection. Plus you will need a PC or laptop that can handle the volume of work your contracts will require.

Invest in Real Estate

The rental market is hot right now, for both residential and vacation properties. While there are some serious risks involved with real estate investing that does not make it a poor choice as a way to make a living. This strategy will require some studying though and a strong sense of how to avoid a money pit. You may want to consider consulting a professional in the industry to mentor you at least with your first property purchase.

First, consider how you want to go about this. Do you want to flip houses, or be a landlord? Would you prefer to rent in a residential area that garners long-term leases? Or maybe a vacation destination capacity where the turnover is higher is more suitable.

The good news here is that there is no shortage of opportunity to learn about how to be a successful real estate investor. Just be sure to understand that it can sometimes be a slow build. Plus it has ebbs and flows with the fluctuations of the economy. That being said, real estate investments can really secure your financial freedom if you are smart with your decisions.

If you do decide to venture out on your own, check out all of the resources we provide! We are here to help. You will definitely want to check out the professional development and small business sections of the site.

 

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