New Here

Is Entrepreneurship Right for Me?

Nov 15, 2023

A consultant turned podcaster discusses the challenges and excitement of pursuing entrepreneurship, including financial risks and major lifestyle changes. They explore the benefits of flexibility and the importance of community in the workplace. They also delve into the financial challenges of working for oneself and offer advice on getting professional support. The podcast concludes with updates, audience engagement, and a sponsored ad.

38:37

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Quick takeaways

Leaving a corporate job to pursue a passion project involves financial risks and challenges, but can offer flexibility and improved mental health.

Working for oneself requires finding a balance between structure and flexibility, prioritizing self-care, and creating a sense of motivation and consistency in daily tasks.

Deep dives

Transitioning from a Corporate Job to Pursuing a Passion Project

Gemma Speck, the creator of 'The Psychology of Your Twenties' podcast, shares her experience of leaving her corporate job to focus on her passion project. Initially, Gemma juggled podcasting as a side project, but eventually, the podcast gained popularity, leading her to make the courageous decision to quit her nine-to-five job. She highlights the challenges she faced, such as financial risks and fears about stability, as well as the overwhelming feeling of suddenly having a large audience. Despite the initial struggles, Gemma emphasizes the flexibility and mental health benefits that come with working for oneself and pursuing a passion. She also discusses the importance of finding community and support, leading her to create an office space with other podcasters. While acknowledging the potential loneliness and imposter syndrome, Gemma remains passionate and committed to her podcasting journey.

Introduction

2min

Pursuing Entrepreneurship: Challenges and Trade-Offs

14min

The Aftermath of Quitting: Challenges and Excitement

2min

Embracing Entrepreneurship: Freedom and Flexibility

4min

Building Community in the Workplace

7min

Navigating the Financial Aspects of Entrepreneurship

10min

Season Finale and Newsletter Update

3min

So you’re thinking quitting your full-time job and working for yourself. Or maybe you’ve already decided that the corporate life isn’t for you and you have a passion project that could become a full-fledged business.

What do you need to consider before you walk away from your corporate career? Have you thought about the financial risks, how you’ll find community or mentorship, or what your future would look like with less of a roadmap?

This week on New Here, we follow Jemma Sbeg as she leaves her successful consulting career to pursue her passion project—her now-hit podcast, The Psychology of your 20s.

Host Elainy Mata interviews Jemma on her first day of working for herself—to learn how she made the decision to leave her full-time job and what her hopes and fears are for her new work life.

Then Elainy and Jemma have a second conversation after Jemma’s been working on her own for five months. You’ll learn which of Jemma’s fears were warranted, how she battled loneliness, managed her money, and whether or not she is actually happier working for herself.

Have a career question? Let us know at NewHere@HBR.org.

Key topics include: entrepreneurship, career transitions, managing yourself, careers.

More Resources:

· Should you quit your 9-5? (The Psychology of your 20s)

· Should You Quit Your Job? (Holly Bauer Forsyth)

· Are You Cut Out to Be an Entrepreneur? (Shirish Nadkarni)

· The Right Way to Make a Big Career Transition (Utkarsh Amitabh)

· How to Quit Your Job with No Regrets (Christine vs. Work)