Post By: Breanna Aponte
Quitting your job could be the best OR worst day of your life. There are three huge mistakes people make when walking away from their job to pursue their businesses full time, and here they are:
1. Quitting Without A Plan
Yay, you're walking away from your job! But can you afford it? Do you have 3-6x the amount of your bills saved up? I don’t know about you, but the average entrepreneur doesn’t hit the ground making a ton of money. The money also isn’t guaranteed like a paycheck from your 9-5 job.
Don’t be naive and think you're the exception. If everyone else struggles their first year in business, you probably will too. Preparing yourself by setting aside money to last you a minimum of six months will give you enough cushion for the rainy days.
You should also have a plan of HOW you’re going to make up the money you’re losing from your job. If you’re not making money consistently for a period of time, you should not leave your job yet.
The worst thing you could do is go back to that job you happily left begging to be taken back. Have a plan! If you want help creating plan click here for our course on “How To Quit Your Job To Pursue Your it”
2. Go Into Larger Debt:
If you’re in debt, the solution is not to go into MORE debt to start a business. Stay away from taking out loans! At the end of the day we all want our business to succeed, but we are starting the company to put ourselves in a better situation, not a worse one. Be creative and get your expenses lower by offering digital products that cost you nothing to make and little to nothing to sell.
This also helps give you a substantial amount of products or services you need to sell per month to reach your financial goals. By providing digital products or services, you no longer exchange your time for money freeing up time to work on the big-picture items for your business.
3. Think It’s Going To Be Easy:
So many people quit their job because they want freedom. They want to make their schedules and be their own boss. The issue with this is that they are unaware of how much harder it is when you don’t have someone to answer to. This means you are your own accountability partner. This causes people to fail in their businesses because they set goals and are unable to achieve them because freedom causes them to slack.
Don’t think that just because someone else is doing it, you can too. You need proof that what you offer is valuable and can make you enough profit without drastically changing your lifestyle. This goes back to point 1. Have A Plan!