How good is quitting your job without a plan?
Sounds fine in practice doesn't it but in reality it is just not such a good idea.
Maybe you are at the stage where in your daily job the satisfaction isn't there any more?
Or it's simply the long commute to work each day that costs so much and takes so much time - there was one person in the UK who did a four hour, yes four hours each way commute - that's dedication for you!
So there is the temptation to simply quit and go for something you have always dreamed of.
In a word - don't! Get a plan first and then make a transition to your new dream job.
Otherwise there is a big risk factor because once you quit your job you will:
- Not have a regular income.
- Lose that informal network which exists at work.
- Still have to pay for food and shelter.
- Maybe also still bring up the kids (if Mum isn't able to help).
Working for yourself is a great idea but let's be clear about this situation:
- Success is not guaranteed, in any of these schemes.
- There is no such thing as instant earnings. If there was you wouldn’t need to be here.
- To earn money you will need to put in effort, - you get out what you put in.
- How successful you are depends on how much effort you are prepared to put in.
- Most of the offerings which claim large earnings in the next week are based on criteria which are not declared. Your chances of it happening for you are extremely limited.
Still want to quit that job - okay that's fine but what you need to do is to plan the change and prove that it's worth it. But how to do this?
- Keep the cost as low as possible and start part time. Start in a small way - don't try to conquer the world at the start, because it is more likely to fail. If you start small you will also be able to work out ways of doing it for little or no cost. Larger plans take more money and time. So you may say I will build a business on one type of offering (say digital products), and make that work rather than trying to offer the world, say, all home improvement products. Look on the web for as many freebies as you can to keep the cost down - as an example most of Apples Apps are free and there are 200,000 of them
- Retain your current income by keeping the day job going - this pays the bills whilst you start a new income stream from your new business. Only when you have proven you can earn money on your own should you actually quit the current job.
- Set some goals for the new business to measure against as this is really important. You may say - I will make some money in three months. Set out your plan to do so and then monitor each week or month as to how you are doing against this plan. Why do this? You need to benchmark your progress against a plan to make sure you are achieving that goal.
- Find a low cost scheme to help you get started. Many people have done what you want to do, so why re-invent the wheel? Choose a scheme that is low cost and concentrates on education - of you! This is really important because it means that depending on which scheme you join you will be able to e-talk to these people who have done what you want to do and this will be immensely beneficial in terms of asking questions when you get stuck - and you will.
- Be flexible with your expectations. You may plan to do a $100 per day in one month and find it takes you three months to make your first sale. Analyse why rather than give up.
- Prove it works. Once you have made some money then you know the new business works. Then you can work out how much further effort is required before you can quit your current job. You may well find this will take some time but no problem. At least it is a going concern business. Build it for the sustainable future
Finally expect some bad times as well as the good times before you get to the part where the new business becomes income producing. Take the bad times and find out why they have happened. Learn from these experiences and move on, it's the only way.
To quote Phillip Adams - Unless you are prepared to have a go, fail miserably, and have another go, success won't happen.
If you follow this structured approach ,use a plan such as we have outlined above, and choose a new business scheme which is more about educating you and helping you, then you have a great chance of success - go for it!
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