Things to Consider before “Taking the Leap” to Start Your Own Business

Things to Consider before “Taking the Leap” to Start Your Own Business

You may be at a point in your life where you’re feeling so done about having a “real” job.

You may realize you no longer are “juiced” by what you do, or perhaps you never were. Maybe you’ve been taking positions that don’t make your soul sing for the pay and the status.

Perhaps you have a position you enjoy but are working much harder and longer hours than you are being paid for and you’re starting to resent it.  

I understand. I’ve been there. I can still remember when I made the decision to leave my well-paying government job with benefits to join a management consulting company on a handshake.

 In the early 1990s, I attended a course on “Project Management in a Government Environment” where I ended up facilitating a small group and presenting the findings from our group. After the session, the trainer, who was a partner in a management consulting group, asked where I had learned to facilitate. I said, “I just do it”; I’m trained in therapeutic groups, and I used to do group and family therapy. He replied, “We need to talk.”

Six months later I was in the HR department of the government ministry I had been working for signing my resignation documents. At that time, I was informed I would lose the 3.5 years of contributions the government had made toward my pension plan if I left before the four-year mark. I thought for a moment about this and then realized I wanted to move forward. I was excited about trying something new and getting well paid to do it.

My Dad wondered why I would give up a good position and financial security without a contract. I knew in my heart and gut that this opportunity was the “carrot” I needed to become a consultant. Within six months of joining the consulting group, the partner who had brought me in had a philosophical split with the other two partners and started his own company. He asked me to join him, but I didn’t want to take sides. I started my own business, and the rest is history. Within two years I was making six figures and so enjoying working with my own clients. Since that time, I have launched four consulting and coaching businesses, have learned so much and been paid well. That said I needed the opportunity to work for another consulting group before I took the leap to strike out on my own.

I’m sharing this story and not recommending that you take the leap to start your own business if you feel undervalued, overworked, and perhaps underpaid, before taking into consideration some critical factors.

It is important to have some finances built up before you launch your own business. Contacts in the area you are planning to work in are important. I had co-chaired a national strategy for the federal government that had multiple partners. A number of them hired me as a facilitator and qualitative researcher to do studies for their organizations when I left my position, because they knew and trusted me. If you think you have consulting skills to offer it is helpful to join another consulting group to “learn the ropes”.

What about you? Are you thinking about “taking the leap” and striking out on your own? Perhaps you’ve done it and have some valuable lessons to share. I welcome your thoughts in the comments below.

What is Reinvention & What do We Need to Reinvent Ourselves?

What is Reinvention & What do We Need to Reinvent Ourselves?

During the pandemic many of us had the opportunity to reflect on our lives and our work. Many realized their work was not meaningful. The loss of some family and friends put us in touch with our own mortality. Many of us realized the importance of “seizing the day” and living in the present moment. You may have decided to start that new business you’d been thinking about for a few years or leave the partner you’ve been with as you realized you were settling. In order to move forward as result of such reflections we need to reinvent ourselves.

What do I mean by “reinvention”? To me, reinvention involves letting go of beliefs, behaviors and fears that are no longer serving us and opening to new possibilities such as living the life of your dreams, starting that business of your dreams, and having the relationship of your dreams.

Based on my own journey and work as a consultant and coach over the past three decades I have discovered that reinventing yourself requires four key ingredients or elements:

  1. Mindset – Having what Carol Dweck calls a “growth mindset”; believing that you have the capacity to reinvent yourself is key. Being flexible and optimistic are also valuable qualities.
  • Support – Having support from family and friends is important.
  • Tools and Processes – To help you understand how you respond to change and why, and how to embrace rather than resist change (e.g., my 5-step “Art of Change Framework”)[1]
  • Self-care – Having healthy habits such as eating well, exercising regularly, getting 7 to 8 hours of sleep each night, spending time in nature help to reduce stress and in turn boost resilience.[2]

How do you develop a “growth mindset” if you’ve noticed that you tend to dwell on challenges and tend to be pessimistic and a bit rigid in stressful situations (which is common for us all)?

Stay tuned for future posts. I’d love to hear some strategies you’ve found helpful to overcome challenges and be more open and optimistic when faced with the opportunity to reinvent yourself. I welcome your thoughts and comments below.  


[1]  https://pamela-thompson.com/strengthen-impact-world-dance-change/

[2] https://www.psychologytoday.com/us/basics/resilience

Reinvent Yourself: Let Go of Fear & Navigate Change with Confidence & Clarity

Reinvent Yourself: Let Go of Fear & Navigate Change with Confidence & Clarity

What if you could reinvent yourself and live the life of your dreams?

What if you could leave your corporate job and start a business based on what makes your soul sing?

About six months ago I started hearing people use the words “I want to reinvent myself” or “I have reinvented myself.” I got curious and did some research on “reinvention”. I also reflected on my own life and realized how many times I have reinvented myself.

I’d like to share a true story of someone I know who reinvented themselves. Their name has been changed for confidentiality.

I met Donna at a Newcomer’s Club shortly after I moved to Victoria about five years ago. Donna shared that she had moved to Victoria with her husband and within six months of arriving, her husband, the love of her life, died of cancer. She realized she was dealing with a number of life transitions and signed up and attended a one-day retreat I did on “Embracing Life Transitions”. She left with more insight into how she responds to change and why, including a 5-step “Art of Change Framework”[1], and an action plan for moving forward.

Recently Donna shared with me that she is no longer the woman she was when her husband Ben died. She revealed that he was an extreme extrovert and she lived life “on his coat tails”. She reflected that when she got married, she was quiet and lacking in confidence; and that her confidence built being with Ben, and she counted on him for support.

Since Ben’s death, Donna began to work on herself and getting in shape. She acknowledged that over the past few years, she has felt like a single woman who is finding her new self. When she meets new people, she is Donna only, and that has impacted who she is and how she acts.

Donna and Ben sailed for more than thirty years. Ben was the captain. Donna assisted as crew. Since Ben’s death Donna decided she wanted to learn to be captain, and after a number of sailing courses she now not only captains her boat but participates in local races.

Recently, Donna revealed to me that she is no longer the woman she was when Ben was alive. She has reinvented herself and is now “Lady D”. She even christened her sailboat “Lady D”!

How did Donna reinvent herself and what does it take to let go of fear and reinvent yourself?

Stay tuned for the next installment!

Do you relate to Donna? Have you reinvented yourself? What is the biggest lesson you learned from doing so? I welcome your thoughts and comments below.


[1] https://pamela-thompson.com/strengthen-impact-world-dance-change/

Letting Go – It’s Easier Said than Done!

Letting Go – It’s Easier Said than Done!

To make a life change, moving from one way of being and living to another, requires letting go. What do I mean? And why does it matter?

An example is when we are let go from a corporate position and are faced with the decision of whether to seek a new employer or start our own business. If we consciously choose to become an entrepreneur, our beliefs and emotions around the transition are quite different than if we are given a “pink slip” and are forced to leave a position. In either scenario, we need to let go of; for example, a regular paycheck, status (perhaps), “perks” such as a company car, an expense account …. If we consciously choose to leave, we may have some fear of the unknown and must deal with feelings of uncertainty. However, the emotions we have around the experience are different. In the case of being fired or “right-sized” we may feel anger, sadness, grief, as well as fear of the unknown.

I recall in the early 1990s when I started my first business. I had initially been lured away from a good government job to work with a management consulting group on a handshake. My father thought I was crazy to leave a good job with benefits, but the idea of consulting and being an entrepreneur was exciting. I recall my husband at the time had been encouraging me to strike out on my own for a few years. I noticed fear coming up in me and it took an offer from a consulting group to be the “carrot” that lured me away from a more stable position. That said, I was excited and energized about the new opportunity. In contrast, people I know who’ve been let go and forced to leave their jobs sometimes feel angry, victimized and low in energy. This can over time negatively impact their health, self-confidence, and their relationships with others.

So why is important for us to learn to let go when faced with a life transition be it chosen or imposed on us?

If we don’t learn to let go of certain emotions and beliefs, we may continue to repeat the same patterns in our lives and remain unhappy and unfulfilled. An example is if we keep choosing positions for the money rather than getting in touch with our passions and purpose and choosing positions in alignment with those passions and purpose.

Here are some proven strategies for “letting go”.

  • Identify and surface the emotions you have around a current or previous transition; for example, anger at a boss, a previous partner, a friend. The Feeling Wheel by Dr. Gloria Wilcox[1] is a useful tool to help you get in touch with and name your emotions.
  • Release those emotions from your body. When you think about a particular emotion notice any tension in your body and where it is located. It is often felt in your gut or your heart. Think of emotions associated with past hurts and transitions as “rocks in a backpack” and visualize and experience releasing them all from that backpack.
  • Forgive yourself and others. This is powerful and often keeps us stuck and holds us back from moving forward. A mindfulness tool that facilitates forgiveness (of self and others) is “Forgiveness Meditation”. See https://www.youtube.com/watch?v=PbHKCy4f6Dk for a process developed by Jack Kornfield, a psychologist trained in Eastern and Western Psychology.
  • Write a letter to your previous boss, partner, friend from a balanced and empathic perspective. There are always two sides to every story. Reflect on the lessons learned from that experience.
  • If you still have anger and strong emotions associated with a past relationship, it is therapeutic to write a letter to that person sharing how they wounded you and what the experience was like from your perspective and then to either burn it ceremoniously or tear it up into small pieces and at the same time commit to releasing the negative emotions associated with the relationship.

We all face a number of transitions throughout our lives. Learning how to let go is the key to moving forward and living a life of health, happiness, fulfillment, and inner peace.

I welcome your thoughts below on your experiences with “letting go” and strategies you have found helpful to “let go” of beliefs, emotions, feelings that are no longer serving you.


[1] https.//allthefeelz.app/feeling-wheel/