When to Quit your Job?

July 16, 2010 · Posted in Business Advices, Financial Education

When you start a business you can choose two paths. Keep your job and start gradually build your business or leave your job altogether and dedicate 100% to your new project.

Many entrepreneurs in an effort to achieve their dreams choose the second option experiencing undue pressure that could be avoided if we act with greater restraint and wisdom. If you think is good, your job is certainly one of the most powerful weapons in your hand to build your business.

And it is no wonder that you feel extremely excited when they finally make the decision: “I will become independent, I will put my own business.”

However, there are some negative factors which can result in blindness face the excitement, anxiety and even can produce overly optimistic. And headaches often begin abruptly to resign and leave your job.

* Your employment income will represent a useful investment. One of the great advantages of having a job when starting a business is a percentage of income you receive can be invested directly into your new project and help to make this start to take off.
* Your job will help you recharge less your personal budget. Another aspect in your favor is that while your business is beginning to bear fruit early, you can reload least your personal or family budget because it does not depend entirely on your business but that you have your salary. It is a mistake many entrepreneurs rely immediately seek income from their new business when it has not even taken off.
* Your current job may have important benefits your company can offer you no doubt. Without going into detail on the variety of existing jobs, is very community with additional benefits like health insurance, life insurance, dental insurance, bonuses, vacation, benefits and bonuses of law, etc.. All this represents an incalculable value that your company probably still can not afford. Take advantage of these benefits until you can fly solo.
* Your work activity is an opportunity to learn the know-how of the business. Whether your business has a connection with your current job or not, surely there are many things you can learn. The experience is priceless and if you currently work for a company with years of road travel in the business, this will be your best to be successful in college so. Never underestimate what you have learned in your job.
* Your current job is a source of contacts. In any business or enterprise, one of the most important assets are the strategic contacts. Suppliers, customers, influencers, partners, colleagues, etc.. are just some of the valuable contacts that you will have to use them for the sake of your own business. Be sure to meet people and make friends with them so they can be your consultants and suppliers when building your business.
* Your job is an opportunity to prove yourself. What you as an employee? I hope not hate me for asking this question but … your own business requires 10 times more work and better attitude than your current job (whatever it is) requires you today. Your work is a unique opportunity to build character, self-esteem, interpersonal relations and temperance quality for conflict resolution. If you are not the best at what you do, this is a golden opportunity to be. The business world is a jungle where only the best, most creative and most workers survive. Before jumping into the adventure of starting your business, make sure you have the courage to survive.
* Your enterprise is an opportunity to learn culture. All companies have flaws, but they also have very good qualities in terms of administration, sales, human resource management or customer service. This is called corporate culture and is something that must be in your own business and better if from the start. Punctuality, reliability payments, meeting management and air management to name a few are those aspects that you like to learn while you’re at your job. (And remember, it’s free)

As a final recommendation I suggest you change your way of seeing your job. Far from seeing it as a nuisance, a burden or a place to exploit you visualize as the university where it is your form for your own success (and also … you get paid!). An important business principle says we reap what we sow. If you are unfaithful and dishonest to with your employer, probably tomorrow, someone will be with you in your own business.

When to quit your job?

Well, maybe the answer can be given in terms of days, times or dates. But the unmistakable signal to know when you are ready can be summarized in two aspects:

* That your company has at least six months of operating with stability and that will generate income (salary) equal to the minimum of your household budget.
* That you are willing to work harder than ever as the leader with the character your own employees (even beyond just your wife or your children) are willing to follow

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