If you’re an entrepreneur, you’ve already thought long and hard about it. You know what I’m talking about. You’ve been thinking about the big day. The day when you can finally quit your day job and enter into the world of full-time entrepreneurship.
If you are about to quit your day job to work full time on your business, you may want to rethink doing that.
It may not be a good idea to quit your day job just yet. As a matter of fact, you could end up making it harder on yourself. It goes against popular wisdom, doesn’t it?
If you’re like most other people, you have probably heard the stories of entrepreneurs who finally quit their 9 – 5 corporate jobs in order to pursue their dream of business ownership. But the reality is usually something different.
As you already know, most businesses fail. We’ve all heard the statistics. One of the reasons most businesses fail is because they aren’t able to maintain enough of an income to stay viable. This is one of the reasons why it might not be a good idea to quit your day job. As a matter of fact, it’s been shown that you’re actually more likely to succeed at growing your business if you wait to quit your job.
This article is going to answer 2 important questions:
- Why should I continue working my day job?
- How can I grow my business while working?
Let’s get started!
Why You Should Not Quit Your Day Job
It Keeps You Afloat While You Pursue Your Calling
Let’s face it, starting a business isn’t easy. As stated previously, most entrepreneurs fail to start a successful business.
One of the reasons to keep your job is that it will provide a steady stream of income that will keep you afloat while you’re working on your business. Your day job is a great way to maintain a viable income so that you don’t have to rely solely on your business.
Before you quit your day job, you need to make sure that you are financially stable. it’s important to make sure you are truly ready to take this step.
It Gives You More Time To Develop Your Offering
Building a profitable business takes time. Yes, you probably have great ideas and a great product, but chances are, you will need time to develop your offering over time.
Keeping your day job means you will be able to do the research, testing, and brainstorming needed to allow your business to evolve in the way it needs to. The last thing you want to do is launch before you have a minimum viable product. Keeping your day job will make it easier to do this.
It Keeps You Sane
Being an entrepreneur is stressful enough, even when you do have a steady stream of income. When you don’t have a day job, 100 percent of the earning responsibility is going to fall on your business.
If you quit your job before you are ready, not only are you decreasing your chances of success, you’re also increasing your chances of needing psychotherapy!
Of course, it is possible to succeed as an entrepreneur if you prematurely quit your day job. Some people have had success by doing it this way.
However, the issue isn’t whether or not it is still possible to succeed without a day job. The issue is gaining success in a way that doesn’t drive you crazy.
Even if you’re itching to leave your day job, there’s a certain level of stress relief that comes from knowing that you’re not relying completely on your fledgling enterprise to stay afloat.
Some Helpful Tips
So now that you know why you shouldn’t quit your day job just yet, it might be helpful to know how to be a better entrepreneur while you have your day job.
Know When To Find Another Job
One of the reasons people are anxious to become full-time entrepreneurs is because they are not satisfied with their current positions. It makes sense. If you already know you can build wealth and make a living on your own, why would you want to stay at your day job?
If you’re at a job you don’t like, it can make life pretty difficult. Nobody wants to spend 8+ hours per day doing something they don’t like.
However, quitting might not be the solution. You may just need to find a new job. Not only will this make you happier, you might be able to find a job that helps you develop the skills you need in order to be a better entrepreneur.
One of the challenging aspects of building a business while holding a day job is having enough time to get things done. Sometimes working on your business late each night isn’t enough. It may be a good idea to outsource some of your duties.
Fortunately, finding others who can help you share the workload doesn’t have to be difficult. There are several ways to find help.
You might want to consider using freelancers. There are several sites where you can find freelancers that offer virtual assistant services, content writers, Web designers, etc.
Check these out:
These are great ways to find people who can take care of some of the tasks that keep you busy.
Use Your Job As Motivation
Keeping your day job will give you more motivation to work hard on building your business.
Hopefully, you’re not working at a job that you don’t like. However, even if you love your day job, your entrepreneurial ambitions are still your top priority. Your ultimate goal is to have the freedom and wealth that comes with successful entrepreneurship.
Being a business owner is a dream that many people share. We all dream of the day when we can finally build enough income to run our businesses full time.
However, the issue isn’t whether or not you will need to quit your day job. The issue is when you should quit your day job. If you’re thinking of doing your business full-time, you need to make sure you’re ready.
If you learn how to leverage your day job to support your entrepreneurial dreams, you will have a much greater chance of success.
Quitting Photo via Shutterstock