The Big Decision to Leave my 9 to 5
Let me start by saying, it is a Tuesday morning, around 9:20am, and I am currently writing this blog post in my pajamas, from bed. Sounds pretty great right? Well, it is! Certain days each month, I decide to clear out my calendar and rejuvenate my energy. Whether it be through an active day of getting lots of walks and errands run, or just being a lazy pile of crap. I don’t have to submit for paid time off, and I don’t have to tell anyone why….I just do it! Today is one of those days, and this is one of the many benefits of not having a 9-5.
I know, I know. A lot of you are saying, well since COVID I can stay in my pjs all day too for the most part and can work from bed. Well, I hate to be the Debbie downer but that might come to an end down the road, and you still have to show up.
Being in control of your calendar is a double edge sword. On one hand, you can make time and space as you need it or see fit. While on the other hand, it can allow you to get lazy and not perform on all cylinders at all times. No matter what, you just need to understand your personality and what makes you tick if you were to leave your 9 to 5 and become an entrepreneur of sorts. Motivation is key and surrounding yourself with like minded individuals that will help motivate you to strive to succeed.
Why Did I Leave My 9-5?
The biggest reason I personally left my corporate job of a merchandise planner for Target was because I kept interviewing for an internal role that I wanted desperately, but then after each interview, I was not given the job because I didn’t have the experience. After a handful of interviews for the same position but in different departments, and being told the same reason time and time again, it became very frustrating. How is someone supposed to get experience, if not given the opportunity? Also, knowing I don’t have the experience going into the interview, why then would I be chosen for final interviews time and time again?
Ultimately, being told no so many times for the same reason, started to have an impact on my mood and therefore my desire to continue to work for the same company. What I found out was that internal networking is more important than experience. Quite often there would be a shoe-in for the role, and if felt more like interviews were being done to show that the necessary parties followed guidelines and went through the proper hiring channels to check things off from an HR standpoint.
Instead of continuing to subject myself to being let down and/or looking for a position that I “did” have experience in, I decided it was time to look outside the company. I started applying and interviewing for roles at Nike, Gap, and more. However, I kept being told that they would prefer to hire me for a position that I already have the experience in. That I could have an opportunity to move into a different area of the business after I have proven myself.
Well, after 2.5 years of proving myself in one company, I wasn’t about ready to live through it all again with another. So, I decided to take my real estate side hustle more seriously. I got licensed in March of 2016 and had just done so to start investing in real estate. I wanted to start building a portfolio to allow myself some passive income, outside of my 9 to 5, to help fund my desire to travel and retire at a younger age than 65. However, after another year of on and off interviewing for jobs “I didn’t have experience in” I decided to start to build up my real estate pipeline much more aggressively and prepare to leave the 9 to 5 that was no longer bringing me joy.
How Did I prepare to Leave my Corporate Job?
I don’t remember the exact date I made the decision to leave Target, but I do know it was sometime in 2017. Why do I know this? Because I’m a type A personality and wanted enough time to save and plan my exit. I didn’t jump ship until May 4th, 2018. It took a lot of planning, motivation, and self talks to get me to leave the safety of a salary with benefits, cushy job. But boy…am I so happy that I did! (More on that later.)
Anyway, when I started to plan my big leave, I knew that I wanted to wait for my bonus to be paid out in April, and for the strong spring/summer market in real estate. Part of it was me just delaying the inevitable for all the excuses you can think of, and part of it was a financial strategy. I outlined all of my outstanding vacation that I could use up, began getting the word out to family and friends that might be looking to make a move (but would still keep it on the DL), and started paying off any and all debt.
To leave a guaranteed salary position, the biggest concern I had were finances. Not only was I walking away from a salary position, but I also would be leaving discounted health insurance, 401K match, cellphone coverage, etc. Knowing that, I budgeted what I would need to live off of for 6 months at a minimum, after getting quotes for things such as health insurance, and began saving like a mad woman.
When you put your mind towards a goal and are determined, it is amazing what you can accomplish. Over the course of 2017, I paid off all remaining debt, and saved close to $50,000 (side hustle contributions included). Once my safety net was built up, my last vacation day was used, and my bonus had been paid out, I put in my 3 weeks notice and there was no turning back.
Why Leaving a 9-5 is not as big of a deal as we make it
Looking back, I know that it realistically took me about 1.5-2 years to build up the courage to leave my 9-5. What I find most funny about this now, when chatting with others that are thinking about doing the same, is that it would be so easy to find another job that you left, and most likely be paid more. While staying internally within the same company, they might give you a small salary bump here and there, but it is nowhere near what you could get if you left and went elsewhere. On top of that, there are sooooo many jobs out in the world. If you don’t end up liking your new career path, there are plenty more to choose from that are looking for go-getters like yourself.
At the end of the day, if I would have hated real estate, I know that Target would have welcomed me back with open arms, and your employer most likely would too. Although we all stress about leaving our current job for the uncertainty of what an entrepreneur lifestyle would consist of, what I truly think people are most concerned about is change. Not feeling like you are in control and in a safe space. That’s just it though, when you take a leap of faith, you’re going to learn so much in a short amount of time about yourself, that it is worth the discomfort. The amount of my old colleagues that saw me my first year after leaving, and said “you look so much happier”, solidified that I made the right move.
Don’t get me wrong. It wasn’t all roses and sunshine. I had a solid spring/summer, and then a VERY slow fall/winter and didn’t make a single commission check for 5 months. Instead, I lived off savings, did a bunch of showings for other agents at $25/hour, and picked up a babysitting job. This helped me get by as I grinded to build up my client pipeline once again.
My amazing team of strong and brilliant women!
What I Miss about a 9-5 job
There are a few things that I miss about the corporate life, and it all revolves around the people! Going off on your own can not only be scary, but also lonely. While working at Target, every day I worked along side brilliant, energetic minds that were a joy to be around. Working together towards a common goal with like minded individuals was a blast. It was more so the politics of corporate America that I wasn’t a fan of.
One thing I would suggest to help you prepare in your departure if you do enjoy team work, is joining a networking group. I found that by surrounding myself with other female business owners, inside and outside my industry, helped fill the void of no longer working alongside a team.
In addition, I have now started to build out a team of my own. It’s nerve racking not having a leader guide you along the way and coaching you through a leadership role, but thankfully I have leadership background from my time at Target, and once again can network with other business owners that are developing their own team growth plans.
the Biggest Challenge since leaving my corporate job
In a commission-based role, you never know when your next paycheck will come. If you have a handful of deals under contract, you feel great and may want to go on a spending bender. While on the other hand, your industry might have big seasonality shifts that you need to be mindful of and plan for.
Real estate is no different. In the spring and summer months, I can make what I made in my corporate America job in 1 month. It’s mind blowing! But then once the market starts to slow down towards the end of the year, or the economy shifts, or there is a COVID outbreak, you don’t know when your next paycheck is coming in and it can be nerve wracking.
That’s why being mindful of your finances, both business and personal, is VERY important. Not only are you having to budget for your day to day needs, but things like taxes are paid out differently and need to be accounted for. If you’re not one that budgets well, or likes to keep a spreadsheet of profit (earnings - expenses), then I would highly recommend hiring a bookkeeper to help you outline goals and stick to them. Many people who ride the rollercoaster of a commission-based job, find themselves underwater at one point or another, and it is very easy to do. Preparation up front is important and ensuring that you outline goals each year that are checked in on quarterly.
Life Today as an entrepreneur
Most days, life these days is great! I love what I do and I’m great at it! When I’m partnered up with the right clients and I’m helping them with one of the biggest investments they’ll make in their life, I feel so much joy and appreciation.
On top of that, the money is great! No one is telling me what role I can or can’t apply for. I don’t have boundaries set for how much I can make in a year. If I’m feeling driven, I can make 3-4x what I made in corporate America in one year. If I decided to pull back and take some time off, I can decide what that would look like for me. Not having to answer to anyone and being in control of your work life balance is a special thing. You just have to be able to juggle ambiguity and be resilient as you deal with different situations and personalities on a daily basis.
Sincerely,
Jen
Investor // Landlord and DIYer // Realtor // Business Consultant // Globe Trotter // Converting Vegan.
