Reflections on going it alone

Have you ever thought about starting your own business? Maybe on a Sunday evening when the fear of work on Monday starts to seep into your bones, or after a particularly difficult week and you're offloading with friends down the pub?

They say that the average person will go through three to seven different careers in their lifetime, and the trend of self-employment continues to grow with around 15% of the workforce in the UK now working for themselves. Just over a year ago, I took the plunge and set up Athena, providing coaching and mentoring to mid and senior leaders. After 30 years in the housebuilding industry, latterly leading the industry body representing the sector, I became one of those 15% and took a massive step into the unknown.

Practically, there were a couple of big challenges to overcome before taking the leap: deciding what to do, and figuring out how to pay the mortgage while the business was in its infancy. Both can be overcome to a certain extent with careful planning and self-belief (and a back-up plan!). Whatever it is you want to do, make sure you love it, as you will live and breathe it as you pour your energy into making it a success. Some suggest making your hobby your business, but remember you will lose your hobby in the process. Do you have other ways to unwind when that is no longer available to you?

I started my training while still employed. While I didn’t have any clients waiting in the wings when I left my job, I had managed to save enough money to give myself some breathing space to get started. If you need to continue the day job, you can join the millions who have a 'side hustle' that helps to bridge the gap until momentum builds, and it can become the main source of income. Even if this doesn’t happen, it can offer welcome distraction from a job that doesn’t fulfil you, while you plan your next move.

The biggest learnings for me this year have been around motivation and the power of my network. Whenever I felt myself getting demotivated, especially if I had been working at home alone for too long, I would arrange coffees or walks with friends to top up my energy tank. Think about how you work best, and how you’ll keep that element of your working environment going. I still miss the camaraderie of my fellow team members, but you might be desperate to get away from the chatter!

Setting up any business needs clients, so having some idea where they’re going to come from is crucial. Are you sure there’s a market for your product, and what are people willing to pay for it? Most of my clients have come from word-of-mouth. And not from people who know me for my coaching ability, but from my previous roles. It's a useful reminder that if you treat people with respect, it will serve you way into the future.

So, as I enter my second year, I look forward to helping more people to grow and thrive. Having named my business after the Goddess Athena, and in the words of Arianna Huffington ‘I believe that we need her wisdom now more than ever, helping us to breathe soul and compassion into our world of work and success’.

Nicola Barclay is founder of Athena Coaching which provides coaching and mentoring to mid and senior leaders www.athena-coaching.co.uk