Ready to quit your day job, read this first!
If by some miraculous twist in fate, you have a career in a field that is also your passion, you are one lucky individual! Unfortunately for the majority of working individuals in the US, they are not so satisfied with their day job. In fact, seven out ten workers are somewhat dissatisfied with their current employment as sited by the Pew Research Center. Pew has also polled highly educated workers making over 75k a year and found that while they say they are happy with their current position, many do not take days off or end up forfeiting vacation time because they are overwhelmingly concerned about falling behind at work. This has become the trend for more and more full time workers and subsequently has resulted in higher stress and less time for family life. Now, don’t be fooled! Being an entrepreneur is no easy lane, but some people choose to do what they love and pursue passion versus working for someone else and never being able to call the shots in life. So how do you know when it’s the right time to go?
Here is my top three things to do before you quit your job. With the proper preparation, you could be on your way to being an entrepreneur in no time. Just know, If you require a steady income and good nights sleep, you probably shouldn’t quit your day job just yet!
1. Make a financial plan
Make sure you have enough saved to get you through the year. Experts say 6 months, I say 1 year and here’s why. It take 5 years on average for a start up to turn a profit. That means, thats 5 years hustlin’, eating top ramen for dinner, no sleep and 24/7 grinding! You should have a cushion to get you through this trying period. You will feel way more comfortable with your plan if you don’t have to consider going back too work. As with any business, there will be some bumps along the way. You want to be prepared.
2. Don’t be afraid to make mistakes
Experience is simply the name we give our mistakes- Oscar Wilde
This legit is one of my favorite quotes. My biggest fear in life is being on my death bed and looking back at my years and realizing that I was too afraid to try. Ive had the opportunity to work in a field that I had no knowledge and no experience when I started. I was hungry though and I had a plan. I started a business with a friend and it was the most enjoyable, nerve wrecking, and most fulfilling thing that I have ever done in life. I’m so happy I did not give up or quit because I learned so much about what not to do. Thats why experience is the best teacher.
In life you take risk and sometimes you will fall short, that is fact. Many great entrepreneurs have been told no or did not get it quite right the first time, or the second, or the tenth, but they kept trying and thats why we have iPhones and electricity. Scared money don’t make no money- Unknown (second favorite quote).
3. Be dedicated
Relentless dedication is what you will need to make it as self employed and let me tell you, this isn’t for everyone. No longer will there be anyone to answer to. This means, if you are late to work or you don’t show up, no one will fire you. If you don’t hand in those reports, no one will care. Many people just don’t have what it takes to be an entrepreneur because you have to be a self starter and you only have yourself to answer to. 100% commitment to your passion is required. Put yourself in an environment to be a performer, that could be physical or mental. I like to get out of my house and set time aside to do my work because it give me the focus I need. If I sit at home, I will most likely fins something to do in the house because I mean, theres always something to do in your house, right? Maintaining focus is imperative for you to be successful. Find your own way to increase your productivity or you can read my post on how I maintain being a super producer.
Remember! Make a realistic financial plan, learn from your mistakes and be dedicated to your dream. Drop a line and tell me your tips for succeeding as an entrepreneur.