When to Leave Your Steady Job for Entrepreneurship
You've worked hard to get where you are.
Built a career, climbed the corporate ladder and are making a comfortable living.
But something still feels like its missing.
Feeling insecure about your employment future, unsettled and no longer sure that what you have been working toward is aligned with your goals and dreams.
And so the reinvention begins.
It starts with you reading books to figure out your purpose.
Maybe exploring websites to take courses and return to school or attending conferences and workshops.
Or maybe it all begins while you're at work and daydream of the future you want that means no more long commutes, fear of unemployment, working longer hours yet doing work that you love that has purpose and fuels your passion.
You realize that staying in a career that doesn't have the future you dream of is far less exciting than working for yourself.
The "side dream" starts with an idea, a passion, a blending of skills or maybe just a way to create more financial stability.
But you notice that it begins to take on a life of its own and the next thing you know you have a business on the side and all you're dreaming of is the day you can quit your job and work for yourself.
For a little while straddling the day job and your side business is manageable but the longer you do both the harder it is to keep up the pace and the façade that you actually like your job.
There comes a time that you need to make a decision, leap to sole entrepreneurship or keep straddling both until the unforeseeable future.
Knowing when to quit is one of the most difficult decisions you must make as you navigate the path to entrepreneurship.
Some people quit their job out of frustration and the hope that everything will work out just fine even though they don't have the savings to support them.
Others would rather leap with a plan and hold onto their steady paycheck until they know their side business is on more solid ground.
Depending on your business, it can take anywhere between 1-3 years before you make a profit.
Leaving the security of a job without a safety net, such as savings or a loan to bridge the gap can mean financial devastation.
Instead of jumping ship into an unstable business take the time to plan and put money into your savings account while you're still working.
Meet with a Financial Planner, Accountant and Business Coach to learn how to prepare for the transition so that you can minimize the stress associated with the financial instability of a new business.
Not only will you want to plan for your financial freedom you will also want to make sure you have a detailed business and marketing plan.
All three are the keys to your entrepreneurial dream.
In the long run planning your exit strategy vs.
leaping without a safety net can be the reason you give up your entrepreneurial dream.
Leap with a plan and you will be the statistic that is the freedom based entrepreneur working 4 hour days, taking exciting vacations and doing work that you're passionate about.
You'll look back on those long days of leaving a double work life and know that it was all worth it.
Built a career, climbed the corporate ladder and are making a comfortable living.
But something still feels like its missing.
Feeling insecure about your employment future, unsettled and no longer sure that what you have been working toward is aligned with your goals and dreams.
And so the reinvention begins.
It starts with you reading books to figure out your purpose.
Maybe exploring websites to take courses and return to school or attending conferences and workshops.
Or maybe it all begins while you're at work and daydream of the future you want that means no more long commutes, fear of unemployment, working longer hours yet doing work that you love that has purpose and fuels your passion.
You realize that staying in a career that doesn't have the future you dream of is far less exciting than working for yourself.
The "side dream" starts with an idea, a passion, a blending of skills or maybe just a way to create more financial stability.
But you notice that it begins to take on a life of its own and the next thing you know you have a business on the side and all you're dreaming of is the day you can quit your job and work for yourself.
For a little while straddling the day job and your side business is manageable but the longer you do both the harder it is to keep up the pace and the façade that you actually like your job.
There comes a time that you need to make a decision, leap to sole entrepreneurship or keep straddling both until the unforeseeable future.
Knowing when to quit is one of the most difficult decisions you must make as you navigate the path to entrepreneurship.
Some people quit their job out of frustration and the hope that everything will work out just fine even though they don't have the savings to support them.
Others would rather leap with a plan and hold onto their steady paycheck until they know their side business is on more solid ground.
Depending on your business, it can take anywhere between 1-3 years before you make a profit.
Leaving the security of a job without a safety net, such as savings or a loan to bridge the gap can mean financial devastation.
Instead of jumping ship into an unstable business take the time to plan and put money into your savings account while you're still working.
Meet with a Financial Planner, Accountant and Business Coach to learn how to prepare for the transition so that you can minimize the stress associated with the financial instability of a new business.
Not only will you want to plan for your financial freedom you will also want to make sure you have a detailed business and marketing plan.
All three are the keys to your entrepreneurial dream.
In the long run planning your exit strategy vs.
leaping without a safety net can be the reason you give up your entrepreneurial dream.
Leap with a plan and you will be the statistic that is the freedom based entrepreneur working 4 hour days, taking exciting vacations and doing work that you're passionate about.
You'll look back on those long days of leaving a double work life and know that it was all worth it.
