5 Wrong Reasons to Quit your Job and Start a Business
You might think you are ready for the big leap, but there are a lot of milestones that you need to come across before even you start off with your business. A business would need original and solid plans; it would need precise execution of those plans. Starting off business because you are bored with your 9 to 5 job is a very foolish thing to do. Ask yourself why you would want to quit your day job and suddenly rule an empire? Why would you suddenly think of running a business? And what would you sell or buy if you are running a business?
Most people start off on the wrong foot, then get lost, and lose a lot of money in the process. The first and foremost trick is to have a proper vision for the business. That would need people to be planning and foreseeing situations. One really has to have a solid passion for what he is doing, and reasons, like I want to be free from my boss’s control, aren’t good enough. If you are the employee who will be calling it quits soon, it is better if you read this article and then proceed with it. Even better would be to plan out the business first, start with it on a small scale, and when it starts returning the investments, then maybe you start up-scaling your business and then quit your job at that juncture.
Are you someone who has the following reasons to start a business? Read on more to find the answers:
You are Tired of Your Job
It is understandable that a 9 to 5 constant job is tiring and takes up all of your energy. It is also understandable if you are exhausted because your boss is bossy and is draining you of all your energy. You hate working at the office and you want to breathe freely. The work is oppressive and regular, and it is taking up all your time and energy. In this state of affairs, it is advisable to change your job – not shift your priority to business. Business would require you to do the same monotonous job, maybe more monotonous jobs simultaneously- imagine multi-tasking all the jobs that you hate doing!
You Want to be Your Own Boss
This one is commonly said by a lot of people because people face frustration when they are living under authority. But before moving on to independence and other questions of freedom, you need to ask yourself if you are really ready to go solo! Do you understand the consequences of being in charge? Do you know what it means to take control? Can you lead a team of hundreds without batting an eyelid? Are you good with communication?
Being a boss isn’t about taking control and firing and hiring people according to your whim. Being a boss is a lot of other responsibilities that are beyond your imagination. If you are doing the business only to become a whimsical boss, it is advisable to not do it. As an entrepreneur, you might have to deal with a lot of challenges. If you’re really up for it, you might have to struggle hard and make a lot of personal sacrifices. It will not be one inch easy as you are imagining.
If you aren’t really clear with where you are going, try reading some entrepreneurial books, or watch some movies where you can visualize the entire process. Do not take up a business on wishful thinking.
You Want Quick Money
That is never happening. First of all, business takes a lot of time to establish its goodwill. It takes decades to get into this phase and it might be that your next generation enjoys the good days of money, while during your lifetime, you have only invested. A business is like a huge tree- it takes a long time for it to settle. This won’t be Jack’s beanstalk that it will grow overnight and give you gold coin and riches tomorrow.
The money will come – maybe after four years of being payless. That is right. It can take up to even a decade of no money before the return of investment walks in. will you be okay with that? There’s no paycheck to support you either? Is this condition feasible for you? Or are you sweating in worry already? Are you okay with the idea of investing in all your life’s savings into this business of yours? Are you okay to make some minor changes to your lifestyle and cut back all expenses? If you are ready, then go ahead with the business.
You have a Brilliant Idea
Having an idea is great. But did you start evaluating how accurate that idea is? Or how genuine it is? Is it an idea that was already thought of by someone? Does this already exist in this competitive market? I bet there are a thousand ideas there existing and thriving as a business and you wouldn’t know about them. Conduct market research and look for these answers. Chances are that if your unique idea is being used by someone else already, your idea isn’t yours anymore, and you have competition already. Simply having a great idea won’t make you a millionaire, because people have ideas on a regular basis. You would have to have the craft of building a business empire around that idea. Imagine the amount of work that you need to do – from planning to finances to set up the business, to marketing it! All of this is the key pillar on which your business will be standing.
You Want to be Free
This is the most ridiculous reason why you should be joining a business. Do you think that there’s no more biometrics if it’s your own company? Well, you might have to come in the earliest at your business to make sure that the others are on time. You will be the most time-bound. All your sleep and wake hours will be occupied with the thoughts of business.
Still up for owning a business? If yes, you have the right reasons to quit your job and start your business.