For Those Seeking, Transitioning, or in Full-Blown Entrepreneurship
Step 2: Transitioning
From Lacey: I read this, and like I said I would when I introduced myself to y’all, I went all over the place. And like a 40-inch weave, sis is long! But, to give this post some context.
- Have a transition plan
- Save as much money as you possibly can, every month will not be the best
- Be kind to yourself
- Most important: Trust God and HIS timing
I quit my job on April 5th, 2019.
Well, technically, that was my last day because I was respectful and put in a two-week notice. Lowkey, I did it out of an “I might need to come back” fear. I was completely terrified but full of optimism and excitement for what was to come. My lease was ending the next month so, at the very least, I knew my decision had no way of negatively impacting someone else. My relationship at this point with my roommates wasn’t the healthiest. BUT, I understood that business is business, there are highs and lows, peaks and valleys, months you make three times in business what you made at work (which happened to me three months in a row), and months where everything you make goes into operating your business and then some. Regardless of our relationship, the last thing I wanted to do was to ever tell them I didn’t have money for our rent and they’d have to move or have an eviction on their credit report.
When I made the decision to transition, my rent for April was already taken care of (my apartment rent and my office rent), and I had some business I was waiting to close that I knew would take care of May. By the way, these numbers are far from impressive but from January 2018-January 2019 I made $21,000 working almost full time with a whole “I graduated with honors” BS degree.
From August 2018 (when I got my license to help people save money) -January 2019 I made right next to $15,000. So in 6 months I made almost what I made the whole year, as someone who couldn’t even talk to a client by myself, had no business or finance experience, and was (is) improving on being terrified of the word “no”. The best part is that I made that money educating others on how to make their money work just as hard for them as they do for it.
Anyway, knowing I was about to have to move not being certain where I’d go, adding on going into business full time didn’t seem as scary given the context. So many people cautioned me that I needed to have 6-12 months of savings before I jumped, I jumped anyway. Others told me I needed to wait until I reached a certain business promotion, I jumped anyway. Others told me I wasn’t good enough because I was young and young people don’t succeed in the business world – you get the point. I followed my heart and my gut. Though I’ll admit, I did make a mistake.
I didn’t pray. I didn’t ask God if it was my time yet. I know God granted me the opportunity because we discussed it. I knew God called me, I knew I was in the right place at the right time, but I didn’t ask if it was my time yet. And honestly, in retrospect, I did a horrible job saving any of the extra money I was making through my business. Like most people, I have a much better relationship with spending than saving.
Let me correct that, I used to (watch what you say). I used to impulse buy and “need” a whole new outfit for every barbecue, stroll off, step show, dinner, house party, or major club appearance. I used to shop or overeat whenever there was something I didn’t want to deal with emotionally — isn’t it funny how much easier it is to blow $200 on food than anything else?
I relearned a concept recently (and I say relearned because I’m sure this was discussed in one of the many psychology courses I took, but who learns to retain anymore?) called “arrested development”, where your childhood trauma keeps you from properly coping with hurt, anger, loneliness, tiredness, or stress properly as an adult. So, you use drugs, alcohol, sex, and overeating to bring you back into a feeling of normalcy until you feel any of those emotions again and the cycle repeats.
Where was I going with this?
I have not always had the best relationship with money so, making more didn’t make me save more, it just made me spend more. More money on food. More money on clothes. More money on alcohol. Like seriously, if you can’t manage $2,000 a month, you won’t be able to manage $20,000 a month.
Maybe I transitioned too early. Maybe there are some things I’m dealing with right now that I might have avoided if I waited longer. Maybe I was just too hard on myself and rushed the process. But, I know that God has my back and if I keep him at my center, like forreal, forreal (cause I was raised in the church and have had a pattern of where I go from being super in tune with HIM to being Lit Lacey and back again, and don’t judge because y’all be doing it too). But If I keep him at my center, I’ll be looking back some time from now and I’ll be very appreciative of the lessons that were learned during this season.
I’m not going to lie or front like so many others do and act like I have all the answers. You should certainly look to people like Ed Mylett, Andy Frisella, Gary Vee and so many others that have already built huge companies but, remember to transition smart.
I titled this in a way that assumes I’m also going to discuss full-blown entrepreneurship, but I think I need to cook a little longer to be objective. I kind of feel like I’m still in the transitioning phase with you. I may not have a full-time job anymore, but I’m still transitioning in other ways. Let’s be corny for a second and sing “we’re all in this together” — I crack myself up!
I’d like to end this with my prayer. And I’m unapologetically all about Jesus, but if you want to substitute the word God for the universe or whatever you do, go ahead. Get a piece of paper if you’d like, and write this down so you can get it in your heart and really pray for this.
Dear God, we pray for the wisdom to know what to do, the courage to do what we know to do, and the faith that doing what we know to do will lead us to our destiny as long as our courage is more powerful than our fears. In Jesus name, amen!
P.S. The transition phase is the longest. Stay strong y’all!