According to this Stylist article, pursuing a healthier work/life balance can cost you big dollars.
The article features 10 women who went from earning as much as 80K per annum to earning nothing. All had left their jobs to freelance, start a business, or start over in a new career.
I love the rawness and honesty of this article, because it throws the spotlight on a truth we don’t talk about enough.
Changing careers is not for everyone, especially if the financial stakes are high. If you’ve been in a secure, well-paying, respectable career for the last 15-20 years where you’ve made good progress professionally and personally, and you now want to do something radically different that you may have no training or experience in, because it’s important to you to follow your heart, be more in tune with your spiritual values, and make a difference in the world, guess what?
BE PREPARED TO START FROM ZERO.
This is the antithesis of the Zero to Hero story, an archetype so familiar and accepted that we nod in approval and applaud each time we hear it. The protagonists in this article are literally counting the dollar cost of their career change. Because that’s life. That’s how it is when you’re new and don’t know the first thing about business and no one knows you. It’s how most entrepreneurs start.
But this too shall pass (hopefully). You won’t always be making this little (hopefully). As you start to understand what your clients and customers really want and are prepared to pay for, and use this understanding to improve your products and services, there will be a corresponding return on your investment.
BUT IT WILL TAKE TIME.
It took you 15-20 years from graduation to reach your current level of professional competence, so why would it take any less to create a successful and sustainable business?
So here are some tips for making the transition less painful.
1. Be clear what success looks like to YOU.
2. Allow more time and resources than you think you need.
3. Be prepared for a substantial drop in income for the first few years.
4. Get creative and resourceful, and reach out for support.
5. Don’t let obstacles and financial uncertainty deter you from doing what you know in your heart you are called to do. All great achievements are accompanied by adversity and challenges. The quest to create something significant and to make our mark is often accompanied by a parallel call to grow – to become more courageous, resilient and resourceful than we’ve ever had to be.
The question is not: is my dream worth the struggle?
But rather: am I worthy of my dream?