It’s been estimated that by the year 2020 around 40% of all American workers will be self-employed freelancers – a whopping statistic that could change the entire structure of the professional workforce.

Why not dip your toe in and see what all the hype’s about? Here’s how you can transition into a job that puts you 100% in charge of your own career.

How to Bust Out of Your Cubicle to Be Your Own Boss

1. Do Your Research

You should do some due diligence in a few areas before making any big career decisions:

Soul search. Think hard about your personality and work habits and consider whether or not self-employment is right for you. What will it mean for your lifestyle? Career satisfaction? Do you really have what it takes to be your own boss, or is it possible that your current job just isn’t the right fit?

General self-employment research. Educate yourself on exactly what being a business owner looks like. What does it mean for your career advancement, your financial situation, and your taxes?

Industry research. Who makes money doing what you want to do? How do they do it? Will you offer services related to your current career or will you try something new entirely?

Take all the time you need for research in these 3 areas so you’ll be able to make a solid decision about whether or not you’re ready to be your own boss.

2. Set Up Shop

You’ll need to start bringing in clients or customers on your own, so polish your resume to focus on your new services and list any relevant experience.

At a minimum you’ll want to set up a website and start investing in all the equipment you’ll need. Even if you must use a free website service or rent equipment month to month, it’s best to invest what you can now and plan on expansion in the future.

3. Plan Your Transition

Test the waters by making money with your new venture on nights and weekends before quitting your day job. In the meantime, build up your savings, make some new contacts, and build your portfolio.

Once you’ve seen some success, start planning your escape route from your regular job and get ready to be your own boss. See if you qualify for any tax breaks or financial assistance plans while you get your feet on the ground. The cushion you built in earlier with extra savings, network contacts, and those first few jobs should give you plenty of room to grow comfortably in the early stages of your business and set you up for limitless opportunities in the future.

Continue to expand your business and learn all you can about your industry. Doing your research now, setting up a solid structure little by little, and carefully planning your transition into self-employment is a surefire way to break out of the old 9 to 5 and start working for the most passionate boss you know: yourself.