The idea of owning your own project and becoming a master of yourself is tempting. It gives a feeling of freedom. The idea of being liberated from your traditional job in order to start your own business is a brave and ambitious one. At the same time, it is a difficult and big step that must be carefully prepared. Some people don’t have the requirement of being a merchant, an entrepreneur, or a company owner. In addition to varying abilities and skills, people can only be employees of their nature. They do not tend to take risks. They feel comfortable and satisfied with the principle of work, for a guaranteed monthly salary. If you are an ambitious individual, adventurer, and ready to make Sacrifices that your project requires as well as you feel that you have all the courage to leave your job in order to establish your own business, this great article is for you. We prepared seven important points that you should know before making your final decision to leave your current job and work full-time in your project.
1 Discover the
Accurate Facts about Your Business.
Work in general
has good and impressive aspects such as becoming a master of yourself and
putting your own rules and other aspects. However, it also has difficult
aspects, to be in charge of all aspects of your business is harder than being
an employee. Being a project owner has a lot of responsibilities, duties and
tasks to keep the continue of the work. The self-employment is not for weak
individuals because it can be extremely difficult and overwrought. Successful people
are always talking risk and making unusual decisions in order to achieve their
goals and dreams. So, before you leave the job to start your own project. Make
sure that you are ready to risk and make hard decisions.
2 Market Manner
is Important.
Do you know that the reasons of why many projects fail is because they only examine the surface of the market. So, before leaving your job and starting to apply your unique idea, the market must be studied in-depth. This means preparing detailed research based on the study of the relationship between your project product and the situations of the market as follows:
-How many people buy the product or service in terms of time. Studying how many
people need to buy the products during the years and seasons.
-How many
people buy the product or service in terms of the place. That means the study
of the geographical area targeted for marketing the product or service and
indicates whether the target geographical area is domestically targeted,
exported or open.
3 Stay in the Current
Job or Leave It?
This question
is one of the confused questions that many employees start think of when they
decide to start their own project. They cannot make his/her own decision either
to leave the current job to get started or to start his/her own project while
continuing with their current job. The answer depends entirely on the person's circumstances
and the type of project he or she plans to create. Some projects may require a little
attention, not permanent one. So, some are arranging their own projects side by
side with their jobs. Doing their traditional jobs every day morning and
following up their own work in evening and in the weekend. Other people may
have to leave their jobs and make full-time work for their own projects because
the nature of their project requires this. Thus, both options are available. In
this case, only the one with the idea or project can make the most appropriate
decision. As for the experts, they also differed on the best option. Some of
them are recommend keeping the current job while people beginning to create their
own project then left when the project could prove that its worth and initial
success. Others believe that a project cannot be launched without strong
commitment and full-time from the beginning.
4 Develop a
Strong Personal Financial Plan.
Leaving the job
to start your own project means accepting the fact that you are losing your
constant source of income. You will need to rely on your personal money
and savings during the period of transition to build your business. You should
work until you reach a stage where you can get a remarkable income. You have to keep some money to spend on your needs
and living obligations before starting the process of your project. If you
don't have enough money to do that, it's better to make some useful changes to
your current lifestyle. In order to keep your funds and obligations to a
minimum. It is highly recommended that you have backup plan that you can use if
you run out of your personal funds.
5 Develop an
Alternative Plan.
Your career and
financial future cannot be held in the grip of random plan that may eventually
fail. It is very likely that your project will not work as you expect so there
must be an alternative plan that you can rely on. Perhaps, you can need this
alternative plan for a while until you find a way to restoration your project and
solve the problems. This plan can help you to be free from fear and avoid distractions
which will keep you in the right path to achieve your goals.
6 Do not Destroy
the Relationship with Your Former Employers.
You should not finish
all your relationships badly in the professional world, especially with your
former employers. Because, you may need them in the future as customers,
business partners, or even return to the same job if your business doesn't work
as you expect. That is why you should never end things badly with your
employers. When you decide to leave, try as much as possible to make your leave
from the company as calm as possible, to keep important relationships that can benefit
you in the future in your business relationships.
7 Liston to
Others Advices.
No matter how
great your project or business plan is, you should ask for the opinion of trusted
people. Do they see your idea good or not? Reach out to people who have
experience in your business. You may find one or more who have left their job
to do their own project. Listen and benefit as much as possible from their
experience. There are also many free online resources that can be very useful
for business establishment and management such as planning, organization, marketing,
administration, financial issues. Be careful to get advice from negative people
or the one who is unqualified. Find successful people and listen to their ideas,
opinions, and advices.
In conclusion,
leaving the job to start your project is a risky idea, so it may be better to
think about a project that can be done on the beginning next to your current
job. When your own project starts to be successful, do not decide to leave your
job before you achieve 6 terms to ensure that your decision is absolutely right
and safe.
Here are these terms:
1 your business income is twice your expenditure.
2 emergency cash is enough for 6 months.
3 you have enough knowledge to change it to a real business.
4 you're ready to work 11 – 13 hours per day at least.
5 you have the require commitment to achieve your dream.
6 Avoid all kinds of excuses.
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