Veranda Adkins is a business coach, founder of Travel Legacy Inc., and co-founder of the Association of Black Travel Professionals (ABTP).

Leaving corporate America to start my own business was the most rewarding step in my professional life. In 2013, the travel wholesale company I worked for was acquired and my position was eliminated. Although losing my job was challenging and completely unexpected, that crucial milestone allowed me to pursue my dream of becoming an entrepreneur.

Still, trading the stability of a corporate career for entrepreneurship can feel liberating and terrifying at the same time. Along with the financial risks, many new business owners face personal challenges stemming from self-doubt, working in isolation, lack of work-life balance and unreasonable expectations.

Having scaled my business, Travel Legacy, Inc., from a startup to an award-winning, multimillion-dollar travel agency, I am passionate about helping others transition from corporate America to entrepreneurial success.

Here are five strategies that helped me on my journey.

Begin With A Plan But Stay Flexible

When I first started my travel business, I told my husband to give me six months, and if there was no progress, I would return to corporate America. Setting a clear goal made me even more committed, but I remained flexible enough to reassess if needed.

Create a thorough plan that includes a timeline, financial projection and a list of tools and resources. Also, be prepared to adapt as changes can happen rapidly and unexpectedly on your entrepreneurial journey.

Embrace Setbacks As Hidden Opportunities

When my job was eliminated, I chose to view it as a gift instead of a setback. It allowed me to pursue a path I had only dreamed about. Whenever you experience a loss or delay in business, analyze the situation and identify how to turn adversity into an advantage.

Becoming an entrepreneur will require you to shift your mindset. While challenges are inevitable, your ability to reframe them as opportunities will define your success.

Leverage Your Passion And Skills

I’ve always loved travel and understood the ins and outs of the industry through my corporate career. This provided a solid foundation when I started my business. Think about what you love and know. How can you build a business that leverages both? For me, launching a startup that focused on group travel and destination weddings aligned with my interests and fulfilled a growing need in the market.

Prioritize Learning And Networking

During my first year in business, I attended a travel conference in Mexico to learn about niche markets in tourism. That investment was invaluable as it presented new opportunities and connected me with mentors and peers.

You should never stop learning as an entrepreneur. Join industry groups, attend conferences and explore communities that can support your growth.

Celebrate Your Wins And Stay Consistent

Building a business requires a long-term vision to achieve lasting success. Celebrate even your smallest wins and make a consistent effort to reach your bigger goals. After booking several destination weddings and winning an award as a top seller in just one year, I knew I was on the right track. These milestones motivated me to keep pushing forward.

Final Thoughts

Entrepreneurship isn’t just about generating revenue. You must create a life that aligns with your values and aspirations. For me, it means having the flexibility to spend time with my family while building a business that reflects my passion for travel.

If you’re considering making the leap from corporate America to entrepreneurial freedom, it’s well worth it. With a solid plan, the right mindset and a commitment to succeed, you can build the business and life you desire.

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