From graphic designers to life coaches to tech stars, affliction seems deep-rooted and unprejudiced. Inspired and ambitious entrepreneurs end up stuck in their working hours since they don’t know when to cut cords. Sidelined business venture becomes relationship-ruiners, energy-suckers, and money-wasters. Budding visionaries might get burnt out and begin agonizing over their unfulfilled potential.
Below are some of the ways on how to know when to quit your job:
You are Prepared to Scale, Yet You Do Not Have Time
If you are working full time and you are spending your free time on your venture, then that is great. However, it can be impossible to do the job needed to keep that as a money-making venture and make long term growth and sustainability with just your weekends and evenings. It is also difficult to train, hire, and be responsive leader when you are working something all day.
While money could be made, time is the only finite resource you have. You will be missing an opportunity to scale up at some point in time since you do not have the time to devote to that. Once you hit the point of not having time to do the things you like to for your business, there is a great chance you are partially prepared for the next step.
You Have Money Saved to Support Yourself
While your business would be wildly profitable, you have to ensure that you have money to keep living it until that takes off. This is the reason why it is essential to understand how much you want to live and how long you think it’ll take until you are turning enough of profits to pay yourself a good salary.
Decide If It’s Time
Being your own boss can be challenging. Having a business is like having your own kid and it will never feel like the best time to do it. There would be things you like to figure out before it happens. The idea of having things falling into place is a rare occurrence. You need to make the conditions that would make you feel comfortable to take the next step. Therefore, it’s important to think of what should be in place for you to bust the move. For others, it’s a particular number of clients as well as peace of mind when leaving your old job behind.
Have your own timeline to get everything in place and make accountability for yourself. Try putting notes on your calendar to remind yourself that it will be time to leap whether you feel it’s ready or not.
It is a tough decision to consider something that’s unknown, particular when it is headfirst. Not all people, in spite of dreaming about the thrills of forging paths, are excited on the possibility of unstable cash flow and paying for your health insurance. However, if you know that you get the business off the ground, it is time for you to push through the challenges and make that happen.