We see ambitious and inspired entrepreneurs end up stuck in their 9-to-5s forever because they never know the right time to cut the cord. People having a side business with their job usually find them to be energy-suckers, money-wasters and relationship-ruiners. This leads to developing visionaries getting burnt out in overwhelming work and ending up agonizing over their very own unfulfilled potential.
To be honest, leaving something as a stable job for something unpredictable as a business idea is one of the hardest decisions most people face. There is this monthly salary that you get after doing work that is just a routine for you. It’s easy but it’s never fulfilling. You find yourself in your comfort zone and scared of coming out of it. Then you observe people around you doing something radical and getting paid for their risks, and you sit back and think that this could have been you. How long are you going to make money for a company that doesn’t pay you a tenth of what you bring for it?
At some point you may think that enough is enough and it’s time to pass the buck. You feel ready to bust a move, but scared about losing the only income you have. In such scenarios, its best that you know when is the right time to start your own personal business so here are four ways that will tell you that it’s time go for your start-up business and commence full-time workings on it.
You’re Ready To Expand, But Lack Time
So you are working on a side business and working in a job too. Spending evenings and weekends on your start-up is making you good money and you think you should expand. But you find that it’s nearly impossible to do all the needed work to keep your business a money-making venture while making it something sustainable with just your evenings and weekends. You are also not making enough money to hire people and train them to work for you. Being a responsible leader is also a different story when you’re working to make money for someone else the entire day and leaving just weekends for your work. When you hit this point when you don’t have enough time for your business expansion, then it’s time to quit your job and work full time on your budding business.
Got Enough Money Saved Up to Support You?
Regardless what you think about your business and how profitable it will become in the future, you need to make sure that your business is making enough to get you a decent and liveable salary. An amount of money that can bear your expenses and get you the life you desired from the money you earn from your business. In most cases it is seen that people forget to live while working on their start-ups. That’s precisely why it’s really important that you calculate how much you need to live and estimate how long it will actually take until your business is stable enough to get you a liveable salary.Try breaking your expenses into general categories such as transportation, food, entertainment. You also need to consider the ways you need to better your lifestyle to move closer to your dream.
Your Commitment to Your Startup Exceeds 100%
So you have an excellent business plan and you think everything will work just fine. You have the finances in place, the manpower is there too, but you lack commitment to starting your small business. Trust me, if there is such a thing you are bound to fail. I would tell you not to leave your job and keep making money for someone else until you are 111% committed to your work. Remember, success is a choice and it comes after multiple failures. If you don’t have a staunch commitment to your business, it is doomed to failure. Just keep taking those blows and stand strong through all turbulence and you will get through. Be strong enough to never give up and never shy away from trying the hundredth time. You are bound to hit the jackpot, just make sure to make adjustments where necessary and all will be fine.
You Are The BOSS!
In some ways, starting a small business is like having a child and one should visit this site for more information. It never feels that there’s a right time to it. All lives are different and all jobs are different too. People have many responsibilities and most of us have loans to pay too. There are always more things one needs to figure out before one can start a small business. There will always be many things that will need to fall in place it before you kick-start that business venture. But guess what? These problems will forever be with you. What you need to do is to create the right conditions that will make you feel perfectly comfortable with taking that leap. Remember you are the boss here. You decide when it’s the right time. Just look into everything and if your heart says do it, you just do it!