One of the great dilemmas of every entrepreneur is precisely this: How do I start my company, without leaving my job ? Which also translates to When is the right time to quit my job? And it is not for less because although many people dream of starting their own company , not everyone can leave their job from one day to the next because they depend on their salary.
On the other hand, there is a risk of clinging to the job so much that time passes and it takes you to a zone of inaction where years could pass without you finally doing anything to build something of your own. For this reason, today I share with you some valuable advice that will help you make a better decision and identify when is the right time to take the step of
WHEN TO LEAVE THE JOB?
If there is one thing we must recognize, it is that when suddenly the idea of setting up our own company arises in our minds and that idea begins to grow and take shape, and it excites us to the point of losing sleep, then a miracle occurs: because together with that idea, an entrepreneur is born.
Suddenly you think about it a thousand times, the yearning for success invades you, you can barely sleep imagining the possibilities and you talk to everyone about your project.
Not everyone believes you or supports you at first, despite this you see yourself achieving those dreams, having a better lifestyle and giving your family the best.
Everything points to better times except for one detail. you still have a job. Maybe you have some capital and a lot of desire but you don’t know when is the right time to present your resignation letter and thank your current boss.
You can’t afford to start tomorrow with no income and leave your family unprotected. Things don’t look so easy and that’s when discouragement and doubt can arise.
However, there is good news. You don’t necessarily have to leave your job to start your business . The decision does not necessarily have to be violent like having to choose between one and the other.
There are alternatives and strategies that will help you make this transition from employee to employer easier and more convenient.
9 TIPS FOR GOING FROM EMPLOYMENT TO BUSINESS
The first thing to keep in mind is preparation. You must prepare yourself mentally and financially to be able to take that important step of opening your own company.
1. Spend enough time planning
I always say it: in business there will be risks all the time, but the better we plan, the less risk there is. While you are in your current job, you can take advantage of the stability that this gives you to make a very complete business plan .
Remember that the success of a business has a lot to do with planning. It is vital to have a budget, a market study and a sales strategy and you can do all this without leaving your job.
Are you really committed to your project? So turn off the TV at night, spend less time entertaining on social media, grab a pen and paper, and start planning.
2. Specialize in your business area
The second success factor in business is knowledge. In the digital age, being good is not enough. To survive you must be the best.
Sign up for seminars, buy books, and attend career preparation workshops in whatever area of business you want to get into.
For example, if your dream is a restaurant business , then take a food business management course , one on French cuisine, and if possible also take a sales and marketing course. Everything will be useful to you when setting up your company .
Many of these seminars are held in the evenings or on weekends. You can even request some permissions from your boss with the proposal to make up the time. If you do it in moderation, you could be taking advantage of the time to acquire the essential skills to manage your company well .
3. Save. every penny is worth
The biggest obstacle to starting a business is often a lack of money. We can have all the motivation in the world, the knowledge of the business and the energy. But without some capital you can hardly build anything.
So if you’re really up for it, your job may be the best vehicle for raising that valuable startup capital.
Therefore, while you have the benefit of a monthly salary, you must make a personal commitment to save a lot and spend less. Cut back on some of those everyday pleasures in exchange for a great night’s sleep.
Every penny counts and every peso saved will shorten the path to financial freedom .
4. Become a customer service expert
If there is something that makes a business grow, it is understanding that the customer is the fundamental pillar of success.
The best place to learn this is the company where you work. There you will find many internal and external clients to develop these skills. What are your strengths? And what are its weaknesses?
Do this exercise, ask yourself: What would I do to improve customer service where I currently work?
I am sure that your current work environment will be ideal to experience and develop better customer service skills that you will later put into practice in your own company.
5. Be the best in your current job
What does this have to do with starting a business? maybe you will ask.
This is called integrity. It is the ability of a person to be successful not only in the company, but in all areas of her life. If you are a business-oriented employee , then you will be a better entrepreneur in the future.
For some strange reason, businesses operate on principles. And this is one of them.
The explanation may be vague, but I can assure you that if you are loyal and committed to the company where you work, one of these days, your own employees will also be faithful and loyal to your business.
6. Set a date
Decide as part of your planning, when you would like to open the doors of your own business . This represents a commitment to yourself. Starting your company could be in 6 months or in 6 years.
The important thing is not how long, but how well you are prepared for when that time comes.
However, the exercise of setting a date is important to have a clear and quantifiable goal that helps you measure and schedule your specific actions within this project. Setting a date is all about planning and taking smart action.
7. Commit to being solvent
Many entrepreneurs dream of financial freedom and think that their own business can give it to them. This is partially true because too much bad debt can affect a company’s growth.
And I say partially because it comes to mind that Robert Kiyosaki recommends in his book The Money Flow Quadrant that even your own business can help you pay off debts.
The break-even point can be summed up in a single concept: controlled debts, as opposed to uncontrolled debts. Good debts and bad debts. If you don’t know what I’m talking about, you should read the book, it will be an excellent investment.
8. Build a contact base
Another of the vital skills of a good entrepreneur is having the strategic contacts to get good deals. The contacts can also help you get excellent products, good prices and convenient conditions.
Do not wait to open the doors of your store or office to start making good contacts. Attend networking sessions, business events and all kinds of meetings where you meet people. Carry business cards and start building your own network.
The time to build relationships is now!
9. Make alliances and look for strategic partners
Another very interesting alternative is to open the doors of your business without being 100% present in it. For this you need to look for some partners , preferably people you trust such as family or friends who can support you with the operation of the business in exchange for shares or royalties.
Or if they want to work for you, they can do so in exchange for billing commissions.
This type of alliance allows you to start generating some extra income without leaving your current job. Of course you won’t win everything but you don’t have to dedicate yourself completely to the business either.
Of course, decision-making should be your own attribution that allows you to have control and as it grows and income allows it, then you can launch yourself to direct 100%.
The best time to fully dedicate yourself to running your company will be dictated by your heart. I know, it sounds a bit technical. But it has to do with preparation, personal growth and a good sales and marketing strategy that guides you to success.
Don’t let anxiety control you and move you to make abrupt decisions. Many times negative factors in your job such as: poor pay, bad work environment or certain adverse conditions can push you to think that it is the right time.
But determining it will only be known if you gather all the necessary elements to launch yourself into the experience of starting your business .. If this is not the case, it will be convenient to wait a bit and in the worst case consider a change of employment. But when the time comes.