Avoid this Big Trap, when you are planning for the Mid-Career Switch

After spending, 15 to 20 years in a corporate setting, the first and foremost thing which any professional gets attached is the steady stream of Salary at the end of every month or beginning of every month, depending on the organizational culture and system.

The corporate life also provides the comforts of medical insurance for self and family, paid leaves, LTAs, Foreign trips (on the job), PF, Gratuity, etc. These are definitely very expensive components, which while on the job, we tend to take it for granted.

So, if you have got used these comforts, without giving much attention or appreciation, then pause and calculate these benefits. If these benefits, mostly monetary and some emotional benefits (example, Foreign Trips) are so strong and important then listen to your inner call and stay put in the corporate world. Even if you have not been able to progress to the next higher level as per your own expectations.

However, if your inner calling is so strong, that you want to move away from the corporate life and start a career of entrepreneurial life, then please do so with the very clear consciousness that, building the comforts of job life, like the steady stream of salary and perks will take few years to reach in your entrepreneurial journey.

Trap: Don’t get into a business just for making money.

Money is very important for sustaining our livelihood and also sustain our family, however, the first motivation should not be only making money, by copying what others are doing or are successful at.

Because, your Svabhava (Own behavior/Personality) and Svadharma (Duty & Belief Systems), may not be coherent with this new glittering object you are immediately attracted, because deep with your conscious mind, you want to take path of least resistance and make money irrespective of the path taken or being taken is aligned to your Svabhava and Svadharma.

Rather think about a concept, where your knowledge and skill can be packaged into a service, which can be useful for the prospective customers. Also, this service should help to live a life of Fulfillment with purpose.

“The only way to make money is to provide services and products which are needed and useful.

Our Success is in Direct proportion to our Service.

Making money is result of success.” - Earl Nightingale, 1956

The journey of entrepreneurship can be lonely, hard and laced with numerous challenges, which will keep popping up in the course of the journey.

It may be possible, that, you have a lot of good ideas but not sure how to take it forward into an entrepreneurial solution. There are no text books for solving this problem. Some can help you giving some guidance or mentoring, but you are the best person to dig out the solution.

What could be a probable method, and this may not be the only method;

1.    Keep writing about your dream project daily in present tense, as if you have already achieved it.

2.    Keep reading books related to the subject, you wish to get in as an entrepreneur.

3.    Keep talking to prospective customers to understand their pain points.

4.    Once a prototype solution is available, try and test it with actual customer/s.

5.    Start preparing for the 12 to 24 months period, when you are not likely to make any substantial amount of regular income. Taking the family members (especially spouse) is very important step.

6.    Creation of achievable and stretchable goals for 12 months, 24 months and 60 months and writing them daily in present tense will help your sub-conscious mind to start working those directions daily, in small but definitive steps.

7.    Keep yourself motivated with good circle of friends, books, podcasts etc.

There is never a better day than “Today” to start the Journey of preparation.