17 May How do you quit your day job to pursue a startup business?
It’s always a frightful event to take that leap of faith. You have the comfort zone of your 9 to 5 employment and now you want to test the waters of entrepreneurship. Maybe, by reviewing these questions, you might be able to discover if this is the right path for you.
What is your main purpose?
If you’re just in it for the money, that’s necessary, but it might not fuel you for the journey ahead. There must be something deeper to your personal pursuit. In other words, what do you hope to contribute to the world? When you find that meaning, then you’ll find your way.
What are the opportunities presented?
Even if you have a passion for the culinary arts, that might not mean that running a restaurant is within reach. Should there be a glut of food options in your area, the competition may smother you. Research what the market needs and find that niche service or product to answer that need.
What feedback can you get from your circle of influence?
It’s always good to have your relatives and mentors give their opinion on what you hope to do. They may see some things that you might have missed out on. By having that critical feedback on hand, you will be better informed and more prepared to be the best entrepreneur that you can be.
What would your family and friends think of this career adjustment?
When you’re fully involved in your passion enterprise, the important people in your life may unfortunately have to take a back seat to those initial pressing concerns. Be transparent and lay all your cards on the table for the people who mean the most to you. If you can convince them that this is the way to go, their full support will perhaps be your biggest asset to give you that much needed boost to face the challenges that lie ahead.
What can you save on?
The capital expenditures will be quite substantial when you decide to make a go for it. Please review your current expenses and set aside what is unnecessary. You may need to forego some entertainment connections or club memberships. Where you can save gives you more cushioning and additional funds for your upcoming business.
What is it in you that can help you succeed?
Don’t get stuck in the paralysis analysis. It’s vital and very important to have all the necessary data to give you that informed choice on how to tackle any and all challenges to your startup. Please don’t fool yourself that everything will be a bed of roses and it’ll be smooth sailing from hereon out. Avoid freezing and just getting scared stiff because of all the things that need to be done. When you don’t move, nothing moves.
Being an entrepreneur will take all of your talents and efforts. As you psych yourself up for this exciting adventure, keep reminding yourself why you wanted to do this in the first place. Your purpose drives your passion to further enhance your productivity.