In my 6years experience in the 9-5 job, I discover one thing, “unhappy employees are the first to think of either quitting or start a small business”. there are lots of employees out there who are tired of their jobs but find it difficult to leave and on the other hands there are lots of people with huge viable entrepreneurial ideas but are confused on how to go about these ideas and are entangled in the fear of the unknown if they leave their jobs.You know the truth is that if you quit your job and start a business, you wouldn’t be the first person to do that.
The thought of quitting is actually an interesting aspect of becoming an entrepreneur. You can quit your job and start a business and become very successful in it.
….It is not as easy as you think
First, You need to have a skill, the resources, or actionable idea (you heard that right). Lets div for a moment and get on the same page to clearly understand what you are going into, and what Entrepreneurship means in the first place. My best definitions are:
An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture and Entrepreneurship is the process of designing, launching, and running a new business which is often initially a small business offering a product, process, or service for sale or hires.
How does Entrepreneurship translate to money?
It’s a supply game. I can’t stress this enough. Making money is always a game of meeting other people’s needs, supplying a demand that is required or needed. And the fastest way to be the person that can supply a need or demand is to be skilled with a skill that people pay for or will pay for, a skill people will exchange their money for.
This is key and it’s not that hard to figure out, is it? A quick example is this – if you are tech savvy and enjoy anything technology, I would advise you to learn and equip yourself with a skill that can be monetized within that field. My go-to advice would be to ask yourself a question like, “What do businesses and people always need in terms of tech to better their business?” if you can figure this out, then take some time out to equip yourself if you lack the desired skill to offer that value.
From my explanation, you should understand by now the reason I said earlier “YOU MUST HAVE A SKILL”.
Why do you want to Quit your 9-5 job?
I must tell you in clear terms that your answer to this question determines if you will be a success in the business world or not. You have to answer in categorical terms why you want to quit your job and start a business. Are you quitting your job because you are bored or tired of the job? Are you quitting because others are talking about quitting their jobs and starting businesses?
That would mean some band-wagoning. I may not give you a direct reason why you should quit your job here. I only wish to point out one thing. If you are not quitting your job with the intent to come and add some value to life and create some solution to existing problems, you may not be in for entrepreneurship. So, reevaluate your reasons and ensure you are leaving for the right reason.
Plan your exit strategy
Now comes the questions: after quitting your job what next? Are you going to quit on your savings? Do you have an investment portfolio? Are you going to sit at home, get another job or start a business?
Before you quit your job, make sure you answer all the above questions. At this point, I have to make it clear that if your reason for quitting your job is to either stay at home or look for another job, this piece is not for you. You may look elsewhere for motivation.
However, if you are convinced that you want to quit your job and start a business, my only advice for you is to read on. You will surely find your motivation and inspiration in between the lines.
Prepare your mindset
The transition from being an employee to becoming an employer/entrepreneur is a transition from being a subordinate to being fully responsible for everything. It is a change that comes with a little bit of risk and uncertainty. It is not just about a change of job or career; it’s a change of core value, a change of orientation.
In this sojourn, you must prepare your state of mind. There are lots of uncertainties in the entrepreneurial world. Quitting your job and becoming an entrepreneur means giving up your security to embrace a life of uncertainty.
To quit your job and start a business, you should prepare your mind for failure as you cannot win every time while also giving your business the best shot.
It’s a common saying that if you make your passion your business, you will surely get wealthy. This is the time to look inwards for those things that keep breaking you; those things that turn you on; those things you think you cannot do without. They are the things you should know before you quit your job and start a business.
It’s time to make money from them! To get to your passion, you have to answer the following questions: What are you good at? What do your co-employees compliment you for? What trait in you impresses your boss? What skills do you possess? Do you have a hobby, passion or talent? I have actually seen people quit their jobs to build a business around their passion and end up making it so big. The list is endless.
Set a targeted time to Quit your 9-5 job
Setting a targeted time to quit your job is very important because it gives you a goal; it narrows your focus and sets you on a mission. If you don’t have a set time to quit your job, then you are never going to quit. Do set a definite time to quit your job.
Before quitting your job, it’s advisable you test the waters first. Before handing in your resignation letter, ensure that you have started trying out your hand in business already. This can help you to have something to fall on as the period between quitting your job and breaking even is always stormy. Don’t quit your job blindly on false hope. Do give yourself a cushion.
Stick to the process
The process of leaving your job and starting your own business is not an easy one, but it doesn’t have to be difficult either. You must have been an employee for years; so don’t think you will jump into the business world and hit instant success. It does not work that way.
You surely will have years of struggle, all you need is to stick to the process and persevere. This process is called the entrepreneurial process and you have to stick and remain consistent with the process so as to make headways. You must go through this when you decide to quit your job and start a business.
Quit your 9-5 job
After meeting your set targets, then you have to quit your job in peace and concentrate on the entrepreneurial world. But if things don’t go as planned, it’s a pointer that you may have to wait a bit more while trying out some other things. In all, do not give up. Take the pain today! It may not work the first time but you must stick to it.