Today we’re going to be discussing when the right time is to quit your job and start growing your business.
Figuring out when to leave a job is precisely what clients come to me for. To answer this question, we have to delve a little deeper into you and who you are, because it’s a unique situation and it’s different for everybody.
Here are my guidelines that I give my Ultimate Career Bootcamp and Private clients to help them pin down the perfect time to quit their jobs:
- You do want to make sure that you are financially secure. If you have a side business and you still have a day job, you want to make sure that your side business is doing reasonably well so that when you do quit your job, you can ramp up business pretty quickly. If you want to quit your job and start from scratch, you want to make sure that you have some savings in the bank to help you while you’re ramping up your business. If you’re not financially secure, you will do what I did, and you will have a little bit of a panic attack because finances might get too tight. And then you’ll be tempted to hop right back into whatever it is that you’re doing now and ultimately just end up being unhappy again.
- The next thing that you want to ask yourself is: What is my primary goal? If your long-term goal is that you want to be the owner of your company, then there’s no better time than now to quit your job. Remember that it can be daunting to take this leap of faith to start your own business. I totally appreciate and feel you if you’re in that situation right now. But you have to remember that every single minute that is spent in the corporate world is time that you’re not dedicating to growing your business. Ultimately, the longer you hold onto your corporate job, the longer it’s going to take for you to build and ramp up your business and be an entrepreneur.
The answer to the question, “When is the right time for me to quit my job?” is: Right now.
I had this little struggle within myself because I was trying to flip my Pilates business and move more into my coaching business. It was hard for me to let go of my Pilates classes and there was some ego involved. There was also a little bit of “Oh my word, am I going to be able to make bank with my business?”
But here’s ultimately what the deciding factor was for me:
I realized that every single hour that I was spending in my Pilates business was revenue lost in growing my coaching business. You want to make sure that you start to think about it this way.
Think about all the time that you’re going to free up when you no longer have to do your day job, and you can solely focus on growing the thing that you’re passionate about. That was ultimately what helped me to clean out my schedule, focus on my coaching business, and build that.
Now I am so happy that I did that because I’ve exponentially grown my coaching business, and I am so much more excited and happy about where I am at in my career.
Now I’d love to hear from you: If you’re currently struggling to figure out when the right time is to quit your job and start your business, comment with what’s holding you back below.
OR If you recently went through a similar experience, tell us how you decided when to quit!
Be sure to share this video with two to three friends that could do with this advice right now. Thank you for watching, and I’ll see you next time.