If your current career isn’t everything that you had hoped it would be, it may be time to consider quitting your full time job to start your own business. It’s difficult to work around the boss’s schedule, have to ask for a pay raise and wait for a promotion that may never come. A growing number of people are turning toward their own businesses for complete career satisfaction.
Before quitting your full time job to start your own business, there are some very important things to consider. First and foremost, is there another source of income in the household to carry you through until your business gets off the ground? Launching a new business takes time, patience and funding. Before quitting your full time job to start your own business, make sure that your finances can handle the temporary pay cut.
The next factor to consider before quitting your full time job to start your own business is whether or not the new venture is something that you are seriously ready to accept wholeheartedly. Creating your own business is a commitment and it takes a lot of hard work. At times, running your own business can even be stressful. But, the rewards are far greater than any disadvantages and owning your own business will be one of the most empowering things that you can do.
If you decide that quitting your full time job to start your own business is a good idea, be sure that you approach it correctly and with respect to your current employer. Unless there is some reason that you need to quit immediately, it is customary to provide your current employer with at least two weeks notice that you will be leaving your current position. This allows your employer the time to search for, and hire, another employee to take your place. If you quit without notice, it will leave the company shorthanded and may leave a bitter taste in everyone’s mouth. In the worst case scenario, if you change your mind about the new business later on, you may need to turn back to this employer for another job. So, approach the situation properly so that everyone is happy.
If you are quitting your full time job to start your own business, make sure that you are familiar with the process of getting a business license, the selection of the type of business that you want to open and all of the details that go along with that business. Once you have made a decision, stick to it and do not look back. The only way to move forward is to have both eyes affixed on the future and the road that lies ahead.