As many of you know, I am firmly against procrastination. I believe if you have it in your heart and mind to do something, you should start doing. But I also do not want to mislead anyone; starting a business carries its share of risks and you need to be prepared before you quit your job.
Just because you think someone else had an “easy go” of becoming an entrepreneur, don’t just assume it will work the same way with you. And, if you were to ask that person straight out, if they are honest they will probably point out that it was not as easy as you pictured.
Just follow these 11 tips before you quit your job to dive into the world of entrepreneurship and you will have a less stressful path.
Tip #1: Before you quit your job, get on the positive side of the tracks
I started with this tip because I don’t want to give you a negative impression of starting your own business. As a matter of fact, it is probably one of the wisest decisions you will make. But you need to realize you will have negative forces trying to attack you after you quit your job and dive head first into that entrepreneurial challenge.
Take the time while you are still working that job to just focus on positives. Stay clear of negative influences. Play positive CDs. Read positive books. Say positive messages to yourself aloud.
Tip #2: Make sure your resume is top notch before you quit your job
You may wonder why your resume is so important when you are quitting your job to start your own business. Having your resume looking at its best is something you can show potential clients or investors your talents and skills.
Tip #3: Before you quit your job, start looking for the most cost efficient methods to manage your new business
While you are still working your job, you can start researching all the tools and other items you will need to manage your new business. Look for the most cost efficient means, and keep in mind that you can always upgrade as you start seeing profits.
This will also give you some ideas of the amount of money it will take for you to get started.
Tip #4: Create a game plan for your business before you quit your job
It only makes good sense that you develop a complete plan for your entrepreneurship before you leave your job. I suggest you put it all down on paper. List your goals and how you will reach those goals. Write down your vision and develop a mission statement.
By having your plan on paper, you will have a map to follow that will lead you to success.
Tip #5: Before you quit your job, develop and fine tune your product
So you have an amazing idea and you know it will succeed. But, have you developed the product yet? The only way an entrepreneur can start making profits is to have something to sell. So it is logical that you keep working your job until you have developed that product.
Tip #6: Find a mentor
Before you quit your job and start the entrepreneur journey, I suggest you find a mentor that can provide you with their opinions and show you strategies and tricks to use.
There are many successful entrepreneurs that are willing to help new entrepreneurs find their way.
Tip #7: Before you quit your job, consult your family
Without your family’s support, your odds of success in small business lessens greatly. I suggest that before you quit your job, you have a family meeting and explain why you long to do what you want to do. Allow your family to have their opinions and then make your choice if you will leave your job and become an entrepreneur.
Tip #8: Before you quit your job, get started
You can get many things going before you quit your job.
- Purchase a website
- Get all legalities completed
- Open a business bank account
- Start blogging
You can get the wheels spinning before you quit your job and have a head start.
Tip #9: Have 1 year of survival money before you leave your job
Statistics have proven that the majority of businesses will not show profits for up to 1 year. While it is important that you pay yourself, you may find times when your business is in that stage where you will need savings to be able to pay your personal bills and buy groceries.
If you do not have a good amount saved, maybe you should stay at your job until you do.
You may want to check out The Expense Tracker to help you keep your finances in order.
Tip #10: Do your research before you quit your job
Before you leave your employment to start that idea, have you done all the research?
- What are the legal aspects?
- Who and where is the competition?
- What problem will your product solve?
- Who is your target market?
- What will be the costs to manufacture?
Don’t quit your job and jump into a blind idea.
Tip #11: Don’t burn the bridge!
I know that when a person gets that ambition, the thought of, “I just want out of this job” is at the top of the list. But keep in mind that the company you work with or for, the boss you have and your fellow employees could possibly be clients or investors in your entrepreneurial dream.
But if you leave in a bad fashion, you probably will never have them as clients and they also may give you a bad reference.
Use wisdom and quit your job properly. Do not burn the bridge!
There are many entrepreneurs who keep working far into the development of their business. Keep that in mind and consider if you can possibly handle both at the same time. If you can, it will give you some insurance and will probably allow your family to have some peace of mind.
I know that you can succeed, but it does take time and there may be a few failures along the way.
I have another resource that can help you… In my years, I have learned what works and what doesn’t and I share it in the book: To The Top. Get your copy here.
Thank you for stopping by today and please share this on your social media. I would greatly appreciate it.
Thank you and