When To Quit Your 9 To 5

From life coaches to graphic designers to investing geniuses, there’s a commonplace tragedy holding back many would-be entrepreneurs. Despite all their great ideas, people can find themselves stuck in their 9-5 and have no idea how and when they should make the leap of faith. Obviously, leaving a steady job to chase your dreams is a big decision, but you shouldn’t let fear get in the way of your aspirations. Here are a few signs it’s time to hand in your notice…

You’re Ready to Scale, But Squeezed for Time

If you’re working a steady 9 to 5 and using all your spare time to develop your venture, then that’s great. However, when your time is this stretched, it’s very near impossible to cover all the work that’s necessary to run and profitable business and stimulate the long-term growth that will be needed to keep your venture going in the long run. Time is the most important resource you have as an entrepreneur, and if you carry on “part-timing”, you’ll miss out on a golden opportunity to scale your business simply because you don’t have the time to put in. If you’re trying to scale but finding you’re too squeezed for time, it’s a pretty strong sign that you should consider taking the leap.

You Have the Money to Support Yourself

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Image source: Flickr

 

One of the biggest factors that keeps would-be entrepreneurs stuck in their day jobs is the fear of not having any money. This is especially true in passive-income models which require some investment, like a plan to work from home using a binary broker. After all, if things don’t go according to plan, how are you going to keep a roof over your head and food on the table? Take some time to work out how much money you need to live, the various risks in your entrepreneurial plans, and how long it will take for your idea to pick up momentum and start generating a profit. With a little cash flow forecasting and some lifestyle changes, you may find that you’re in a much better position to start your venture than you first assumed. Every business model carries some kind of financial risk, so don’t let a little uncertainty hold yours back!

You’re 110% Committed

If there’s one thing that you should take away from this post, it’s this: your level of success is your choice. A steadfast commitment to your entrepreneurial vision is the most important thing that will allow you to reach your goals. Luck will have something to do with it, and you may encounter more road bumps than other business owners. However, achieving your dreams is possible, provided you’re committed to your vision, and constantly looking for new ways to learn about your niche. You may not have much of a cash cushion to fall back on, or much promise of immediate paying customers. However, if you know that you’ve started off with a blasé attitude and your commitment to your business idea has come a long way, you may be just about ready to quit your day job!

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