Life Planning Budgeting Business Planning Cash Flow

Are you an Employee or Entrepreneur?

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Most people are employees working for someone else, but have a dream. They have a vision of owning their own company, but are stuck in the body and mind of a corporate America employee. 

If you don’t have a financial plan for how you are going to start your business, it is very difficult to get out of this rut. Often, people with the heart of an entrepreneur quit their jobs--in spirit--but stay on the payroll of their employer. You’ve heard of engagement? This is the opposite: marking time, putting in the hours, but your heart isn’t in it. 

Are you cut out to work for yourself?

It depends in large part on how you feel about risk. If you are risk-averse, don’t want to take on the responsibility of owning your destiny, and love getting a consistent paycheck, you are probably not owner material. If you like someone else making decisions for you, and like certainty, stay an employee.

If, on the other hand, you feel boxed in by corporate life, don’t believe you are achieving your full potential, you may be a latent business owner. If you are creative, innovative, and have a big vision, you are probably an entrepreneur-in-employee clothing.

Getting clear

To succeed in business, you need to get clear on what you want. Ask yourself these questions:

  • Why do I want to start my own business or organization? 
  • What is my purpose? 
  • Do I have something inside me that has to get out into the world?
  • What am I willing to do to get there?
  • What will it take?
  • Do I have the social network to connect with who might be able to help me on the journey? 

Set a life plan, a goal of becoming “x” by “y” date. Figure out what steps you need to take to reach that goal. Talk to your family and friends. Do they support your idea? If so, then crunch the numbers to see what financial “ducks” have to get “in a row” to allow you to walk away from your job:

  • Are you spending too much?
  • Could you rein your expenses in to save for the big idea?
  • Can you save enough to tide you over while you are getting started on your business?
  • What about health care?

With a solid plan, you can transition from employee to entrepreneur. For more information on how you can build a life plan to achieve your goals, contact me at or (513) 379-2527.