Quit Your Day Job and Live Your Startup Dream Today!
By Sure, starting a business is certainly a risky move. To make matters dicier, leaving a stable job makes the decision that much more difficult. Having said that, with a burning passion and an entrepreneurial spirit, you can find the courage to take the chance.
Before you quit your day job, however, consider reviewing the following five steps in order to properly pursue your entrepreneurial dream.
Start a Side Hustle First
Actively pursuing your side hustle will better prepare yourself to fully commit to a startup venture. There is no doubt that having that entrepreneurial experience while still working a day job makes the risk less daunting. This is because you still have the safety net of a career, but you also can evaluate the potential success of your startup before taking the big leap.
Map Out Your Finances
One of the most daunting risks of quitting a well-paying job for a new venture is running out of money. Thus, that’s why you need a financial plan and enough savings to support your endeavor before moving forward with anything.
Sure, it might be tempting to put in your two weeks notice and start a career that actually excites you. However, getting ahead of yourself might eliminate any chance you have of succeeding.
Craft a Business Plan
One thing that is absolutely critical is to ensure that you have a solid business plan intact.
The business plan should be detailed with an understanding of what your business is, who your target audience is, who your competitors are, and complete with projected profits and losses as well as any investments.
Network With People
As you’ve probably heard, it’s all about who you know in the business world. It’s not about how talented or passionate you are, but rather more about if your willingness to connect with people in your industry.
Networking and marketing are critical – and they are as important as what you might think of as core skills for your business.
Don’t Wait For The “Right Time”
Think about it this way: if every business owner cowered in the face of uncertainty, the business world would be nonexistent.
You can consistently tell yourself that it’s not the “right time.” However, you can’t let that dissuade you from an opportunity.
If you have a strong idea with solid distribution skills and a logical way to support your expenses, it is a good enough time to focus on your start-up full-time.
