You are ready, you have a great idea, you feel that the moment has arrived, you have everything ready to start your own business, you just have to solve a great question: is it the right time to quit my job?
Having a stable job has many advantages: a fixed salary, social security, and stability in many ways, but if you quit it you will have to leave many things behind when you decide to undertake.
Wondering if this is the right time to resign, it is valid, it seems to me that you must dedicate the necessary time to evaluate all the factors that exist, because every decision you make will have many consequences for the development of your entrepreneurship.
Unfortunately, I can’t give you a correct answer. For each one this may be different. However, I want to share two positions which seems valid to me:
Give up now! What are you waiting for?
If you are convinced that your thing is to have your own business, you feel that you are no longer learning anything in your current job, or you are simply not happy and want to take the risk, then there is no better time than now.
The moment you leave your job and you dedicate 100% to your entrepreneurship, things start to happen, you can work full time to your project that is key so that it can be developed correctly.
Now, remember: the main cause of failure of start-ups, according to the Failure Institute, is that entrepreneurs do not have enough resources to endure the first two years without receiving income. If this is your case, maybe you should go the second way:
Wait! Patience is the way of the Jedi
If in your work you still have the opportunity to continue learning skills or make connections that will help you when you start your project, and it also helps you to save a little more and have funds to support the lack of income, perhaps the smartest thing is to endure some more time in your job.
Remember that, as we have already said, when you start to undertake, it probably not receives income at the beginning, so it is essential that you have some type of financial support. This can be the difference between being able to endure enough time with your project or having to abandon it and return to a stable job.
For many, having waited a year or more at work before leaving to start a business, has been the best decision they have made. But what if you can’t wait but you also need the money? Well, fortunately, there is a third way that may be right for you:
The day has 24 hours. Start in your free time!
This is also a valid option, because you can take advantage of both worlds: you do your work from 9 to 5, and from 6 pm, it’s time to work on your project!
Many of us have done this, I know people who have been taking projects on the one hand for years in addition to their work and have achieved very good progress while having a fixed income. Think about this: if you could go to school as a kid, participate in basketball selection, go to english and computer classes, you had time to do your homework and also gave you time to see the last chapter of Dragon Ball Z and fall asleep at 9 pm, who said that now you cannot spend a few hours a day on your entrepreneurship?
Of course, this scheme has some clear disadvantages, as it does not apply to all jobs, because many consume much more than eight hours a day, or you may have a social life to attend. The truth is that if you do not dedicate 100% of your time to entrepreneurship, it is very likely that it will take you much longer to develop it correctly.
If you are interested in this scheme, I recommend “The 4-hour workweek” by Tim Ferris, an excellent book that will help you find ways to make the most of your free time to undertake while you work.
Planning, planning, and action
Whatever path you choose to take, the smartest thing you can do is sit down to plan, check your finances well, make sure you have everything you need before you start, identify well everything you can learn in your work and put everything on the table.
But in the end, you have to take action! There is no use in planning if you do not decide to take the first step, the world is full of potential entrepreneurs, but what is needed is entrepreneurs who make things happen.
So, are you ready to take the next step?
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