corporate america

Things To Consider Before Quitting Your 9-5 Job For A Business Venture

Things To Consider Before Quitting Your 9-5 Job For A Business Venture

y Victor Ochieng

Millions of aspiring entrepreneurs find themselves locked in 9-5 jobs such that they don’t get enough time to plan for their potential business endeavors. Sadly, many such people are in careers they’re not passionate about and are continuously longing for the day when they’ll be in a position to confidently tell their boss, “I quit!”

The good news is that more people are diving into entrepreneurship; from women to millennials to minorities, the ground is shifting towards starting a business. This may be as a result of job loss or because one simply wants to monetize his or her natural gifts.

Whatever your reasons, below are a few tips as highlighted in a Black Enterprise post by Jacqueline Miller, a speaker and life strategist, empowering mothers to refocus on their pre-mom dreams.

  1. Make a written plan – The point is very simple here. If you fail to plan, you’re basically planning to fail. To provide reference, ensure you have it in written form.
  2. Shift your mindset – When coming from a 9-5 job into entrepreneurship, it means going into a new territory. It requires a mindset shift. In entrepreneurship, there are no defined paths and you should be ready to chart them, which is quite different from being an employee of another company.
  3. Ensure clarity – Entrepreneurship isn’t just about quitting your job to pursue your passion. You must think through what you want to do; how to do it and ways to earn from it. Passion alone won’t help you, you must clearly chart your path.
  4. Prepare financially – One of the most disappointing things is quitting your job then finding yourself in a financial situation that makes it a challenge to pursue your dreams. Before quitting your current job, be realistic about how ready you are. Ensure you prepare for any eventualities so you don’t go back begging for the same job you just quit.
  5. Get the right tribe – If you’re hanging out with the wrong people, you’re likely to lose direction. What you need to do is hang around like-minded people; those who can help you focus on your dreams. Yes, people who can challenge you and make you more accountable as you chase your dreams.
  6. Do a little housekeeping – When shifting from 9-5 job to entrepreneurship, you definitely have to change a few things in your life. One of these is your friendships. Consider how each and every friend will impact on your goals. You’ll realize that there are some friends you’ll need to drop.
  7. Train yourself multitasking and delegation – In entrepreneurship, you can’t run away from multitasking. Besides multitasking, you must learn to delegate duties if you’re to meet the demands of your position.
  8. Balance – It’s a challenge dividing your focus between your current job and the business you want to start. However, you must strike a balance so as to maintain stellar performance at your current workplace without losing focus on the bigger picture. Once you’ve made your mind to quit your job, avoid taking any additional responsibilities.
  9. Make the move – Once everything is ready, it’s time to give notice to your current employer and then make the leap.
  10. Begin the journey – Mark the day you begin your entrepreneurial life and surge forward.

Source

  • corporate america

    More in corporate america

    Largest Black-Owned Bank In Chicago Is No More

    sgreyFebruary 9, 2017

    How To Deal With Business Milestones

    sgreyFebruary 8, 2017

    Did You Know President Trump’s Ban Is Affecting The Technology Community?

    sgreyFebruary 7, 2017

    Here’s A Unique Partnership To Help Minority Businesses Access Capital

    sgreyFebruary 3, 2017

    How To Keep More Profit In Your Business

    sgreyJanuary 27, 2017

    Three Business Practice Agreements All Entrepenuers Need

    sgreyJanuary 26, 2017