Reflections on My First Year of Entrepreneurship

It’s been just a little over a year since I signed out of Slack and left the corporate world to become an entrepreneur / independent wealth manager. 

In that time, I’ve comes across so many other people who have left their 9-5 to start something of their own, or are actively thinking about it, so I wanted to share some reflections on how these first 365 days have gone.

But first, thank you to all of you who have entrusted me with your family’s financial well-being. It’s been an incredible first year in business and I’m really excited about the upcoming services I’m building out for you in Year 2.

Here are eight thoughts on the last 365 days.

1. I didn’t know what I was so afraid of.

I spent years unsure of whether I had what it took to build my own book of business from scratch. I was no stranger to getting clients in my prior roles. But I was never sure if it was me, the company, or something else that landed those relationships. I didn’t know if anyone would want to work with me if I struck out on my own, especially since I was shifting industries. 

Turns out, there was nothing to fear. People remember when you treated them well and did what you said you’d do. 

2. I miss working with people. 

I see and talk to clients all the time. But I’m running a solo operation on a day-to-day basis. I don’t have anyone to bounce ideas off of, celebrate wins with, or even just message a meme to on Slack. The lack of this collaborative energy is probably the thing I miss most about leaving corporate.

I’m on track to make my first hire early next year and excited to have a daily partner again (and someone to send fun gifs to).

3. I got to be a big part of my kids’ lives while they were young.

My kids played a big part in me leaving corporate. There were so many days when I wouldn’t see them at all because I had to leave early and get back late. I was missing all the important moments in their life like my daughter’s first steps.

Working from home for myself has meant no more commute so I could be around for the morning and evening routines. I’ve seen so much more of my kids’ personalities just by physically being around more and feel a lot closer to them as a result.

I also got to have lunch with my kids most days instead of eating an overpriced salad bowl at my desk in the office. They lived off my grilled cheese for nearly six months until they moved on to Sheila’s egg wraps.

4. I miss the paycheck

I left at a C-level. I knew I wouldn’t be seeing those kinds of numbers hitting my bank account every 2 weeks for a long time. 

And I was right. 

Although I’ve been pleasantly surprised by the number of people who signed up to work with me so early on, my revenue is nowhere near what my paycheck was. What would I do with hundreds of thousands in extra income each year? A new car to replace my 2015 Jeep Wrangler would be nice.

5. I feel more in control of my time than I did for years. 

My calendar used to be packed with all kinds of meetings I wanted no part of. But I had to go anyway because of the role I had. The more senior I got the less in control I felt over my schedule.

I now have 93.2% control over my time. Time sensitive stuff still comes up occasionally for clients, but it’s work I want to do and it has a tangible impact on their life. I pick which clients I’ll take on, how I want to organize my day, etc. 

6. I don’t miss corporate.

It was a great first part of my career and I do miss a lot the people I worked with (though some of the ones I liked most are clients now). But I did it for long enough. I didn’t need to live the same work year 20 more times. I haven’t personally met someone who left corporate who regretted it. A few had to go back out of necessity, not desire. 

Never say never, but right now I cant picture myself ever wanting to go back.

7. I like the sense of meaning I get from my work now.

I ran technology, analytics, and marketing teams in the corporate world. We worked with big Fortune 500 companies to help them get even bigger. The core of what we did was mostly fun and intellectually interesting. But I would hardly call it meaningful work in most cases. 

I now help people design and then build the lives they want to live. The strategies I develop and the actions I take go directly towards helping people retire earlier, fund their kids’ education, start the business they’ve been dreaming of, and so much more. I’ve found I really like working on the personal scale more than the corporate scale.

8. Starting my own thing has been harder than I thought but also far more rewarding than expected.

It takes a lot to get a small business going. And I don’t just mean selling the work and getting clients. Bookkeeping, legal, compliance, new vendors, etc. all take so much mental bandwidth early on. 

But each step and decision feels like it’s actually mine. And my business feels more and more like a reflection of who I am and how I want to engage with the world. Cheesy? Yes. But those of you who run your own firm know what I mean. It becomes a part of you.

What’s your experience been like?

I love meeting people on the entrepreneurial path. Whether you’re already running a business or thinking about starting one, feel free to reach out to connect through my email below.

If you liked this piece, check out:

• Leaving a C-Level Corporate Career
• Can You Afford to Take a Pay Cut for a Job You Love?
• The Four Money Personalities I See in High Earners

Nathan
Founder & Lead Advisor
[email protected]

Kangpan & Co. is a flat-fee financial advisory firm specializing in helping mid-career professionals navigate the career, family, and financial tradeoffs that come with this stage of life. This content is for educational purposes only and is not financial, legal, or tax advice. Consult a licensed advisor for help with your individual situation. Employees and clients of Kangpan & Co. may hold positions discussed in our content. Past performance is no guarantee of future results.