Quitting Your Job? 7 Things You Should Do Before You Quit Your 9-5 JobEston Swaby
Many of you have been feeling the urge to leave your 9-5 job to start your own business, but you have been putting it aside for months, or maybe a few years because of fear, the fear of leaving the security of your 9-5 job to start a business that might fail, the fear of losing everything you have worked so hard to achieve, the fear of putting your family lives at jeopardy to follow a dream that might not work.
But you are at a point in your life where you are fed up, tired of feeling like an imposter, tired of going to a job with no opportunity for growth, tired of not being able to use your gifts and talents and feeling as if you are wasting your life, you are tired of going to a job you don’t love. In fact, just the very thought of going to work is emotionally draining.
It is time for a change. It is time to start your own business.
If this is you, I want to tell you that you are not alone. More than 50% of Americans do not feel fulfill at work. Many of them are a crossroad where they are trying to decide if they should quit their job and forget about their steady income and benefits, or follow their passion and start their own business, one that will bring them much joy and fulfillment.
Most of you are reading this article right now because you are trying to decide on what you should do, quit your job and start your own business? Or continue to do work that no longer fulfills you? At the end of the day, only you can decide what to do next, but today I want to make your decision a little easier for you by sharing 7 things you must do before you quit your job. If you are seriously thinking about leaving your job, you might want to check out these pointers or checklist before you hand in that resignation letter.
image credit: Nextgoal
CHECKLIST BEFORE YOU QUIT YOUR JOB
1. Get clear on your ideal career and passion
When I started working at a Government Institution, I had a friend that walked away from his job because he felt he was unfairly treated by management, which he was, but he walked away without having a clue what he was going to do next. For many months he was out of job and without any source of income and that is why I am begging not to walk away from your job without having a clear picture of what’s next for you and a clear picture of your ideal career.
Now I don’t want you to walk away from your current job until you have clear picture on what is it that you want in your ideal career.
If you could clip your figure and have the business of your dreams, what would it look like? What would you be doing each day? What would the climate or culture of the company be like? If everything was perfect tomorrow and you could be in your dream career, what would that be and how would you show up each day? Who are your ideal clients and who are you working with each day?”
Quitting your job because you might not like your boss; you were unfairly treated at work; or you no longer love your job are all valid reasons why you might want to quit your job, but don’t be an a rush here, you want to know that the day you walk out of your job you have another opportunity waiting for you. My friend left his job and for months he was out of a job, no financial security and no job prospect.
You don’t want to be the guy who quits his job without any clear plan only to float around not knowing what to do next. Let me try to paint a picture of what could happen if you leave without a plan: imagine waking up each morning to the sounds of your kids crying because they are hungry and your spouse coming to you telling you that there is no food in the house and you don’t have any money. Imagine everyday writing and sending application letters, leaving messages and no one returning your calls. Imagine yourself not being able to pay your bills and putting food on the table. Imagine that you are so burden down financially that you are not able to buy deodorant or some of the other necessities of life. Imagine the frustration, stress, financial burden and regrets you will be having. Does this sound like something you would want for you and your family?
Some people out of desperation go back to their old job or hop onto a random job to safeguard their job security — only to feel unhappy again after a while. Some of them keep hopping from one job to another, frustrated, tired and miserable before they finally get a grip of themselves, usually 5 or 10 years later.
The first step you should be taking is not walking away from your job but to first becoming absolutely clear on your dream career. Clarity gives you a sense of direction, what steps you should be taking each day to bring you closer to that dream career.
Some of you will not have a clue of what directions you should take for some time, and that’s okay. When I first knew I didn’t just want a regular job anymore, but I wanted to follow my passion, I didn’t know which directions my passion would take. Five years ago I didn’t know I would be coach and speaker, I just knew I never wanted to a regular job. But as I thought about it, did my research and soul searching, the path I should take became much clearer. You just need to take one step and as you take that step the next step (or few steps) will become much clearer to you.
I know that some of you reading this right now have no interest in starting your own business but your ideal career is another salaried job, and that is okay as long as it is something you have a passion for doing.
But at the end of the day, you want a career that will not only give you what you want on a deeper level, but will also allow you to have the lifestyle you want.
For many of you this might be a little bit difficult to think about what you really want, but think about what you don’t want. What pain do you want to avoid. Human beings are motivated by what brings them pain or pleasure, we are always trying to avoid pain and moving towards pleasure.
For example, if you don’t like to work on a shift system where your shift can change at any moment, then you know you need to find a job that has a fix work schedule or start your own business. At the end of the day you want to use your external experiences and what you feel on the inside.
2. Evaluate your current job
After you have spent some time thinking about your ideal career, you now need to take another step back and ask yourself:
Does this job I am in now align with my passion, beliefs and values. Maybe you don’t agree with their policies or worth ethics. Maybe there is no upward mobility.
Will this job help me to achieve my dream career? You might be in a rush to leave your current job, but what if your current job will give you the financial means to fund your dream business? What if while working there you can gain valuable skills and knowledge that could help you in your future career path. When I first started working right after High School, I knew then that I never wanted that job, but that job was a stepping stone to get to where I wanted to go, because of my job I was able to fund my educational goals.
What is your ideal lifestyle and salary? Will this job help you to achieve it? if not you need to start looking for an exit, a well planned exit.
3.Have a plan
That brings me to my next tip, you need a plan of action. Of course there are people who walked off their jobs without any plan and they are now earning a 6 figure income, that’s cool, but don’t take that risk, don’t quit your job until you are sure that you will be in a better financial position when you do.
Of course it’s very much possible to start earning a 6 figure income within the first month of starting your own business but I wouldn’t count on that. You should NOT expect magic bullets when you are transitioning from one career path to another.
Success will come through hardwork, determination, a strategic plan, and consistent action. In your planning, I want you to think about:
- What is your ideal vision? What are your specific targets?
- What is your plan to get there?
- What are your specific action steps?
- What is your timeline for these steps?
- What if things don’t work out? What is your contingency plan?
Lastly, if your finances are low, stay on in your job for some time. Build your bridge, then when you have saved up enough money, quit your job and work on your business.
This is your life we are talking about, don’t leave it up to chance unless you are forced to do so.
- Execute Your Plan
Now that you have a well thought out plan, you need to start putt that plan into motion. One of the things I see many people do is that they want to leave their jobs but all they do is talk, they don’t plan and they certainly don’t take action.
You have to decide if you are going to quit your job right away and start your business and pray you don’t run out of funds before your business start generating enough income to replace your regular job, or you can transition slowly into it by starting your business while you are working and when it is generating enough money to replace or equal your 9-5 job you quit.
I see a lot of people quit and start their business, most of them succeed, while most of them failed. But what I hear from a lot of entrepreneurs is that they regret they didn’t thought about their decision longer and transition into their new career path because they found out, even though they knew exactly what they wanted to and that they could make it work, it took a much longer time for them to start experiencing real growth in their business to actually replace their 9-5 job.
What should influence your decision?
Your decision should to quit right away or to build a bridge should be base on:
- Your current job workload. For many aspiring entrepreneurs, their job requires them working very long hours leaving very little time and energy for them to work on their passion. In this case the best way to move forward might be t really quit your job and devote yourself to your passion.
- Your savings. Unless you are prepared financially, quitting your job will create a host of variables, chief of them is a loss of a financial source, which can create other problems if you’re not prepared for them. You want to ensure that you have at least 6 months of money saved up so when you finally quit your job you will be ready. Why? Because it can really take some time for your business to start generating enough income to replace your job and while you are waiting you will need money to finance your basic needs and to help you build your business.
Not only that, but if you want a job with better pay / work-life balance / opportunities, you will want to secure such a job before quitting because it could take it can take 3–6 months (or more) to get a good job.
It is very important that you take some time to research the business you want to get into and be prepared for any eventualities before you send in that resignation letter.
- Think About Your Plan B
No matter how laid out your plan is, things might not always work the way you wanted or thought it would, so you want to ensure that you have a plan B or a continquency plan put in place. That is not to say if you want to start your own business you should give up on your dreams if things doesn’t work out, a lot of successful entrepreneurs failed in their first business, but you want to prepare for any eventualities even as you focus 100% on starting and growing your business.
You don’t want to burn all your bridges, but at the same time you don’t want to be looking backward either, your focus should be on working very hard to make your dream career a reality.
Let’s say you decided to quit your job and hit the ground running with building a business, before you quit, work on building up your savings to last you between 1-2 years, dedicate yourself completely to your business for that time, and if it doesn’t work out, find a job, maybe part-time, earn some money and then return to your passion, or work on your business while you work a 9–5 job.
It takes dedication and hard work to build a business and I cannot tell you how long it will take for you to start earning money from your business, that is depending on your niche, your marketing and how hard you work in your business, and on your business. But you want to be at a spot where you don’t have to worry about money because you already have enough money save.
When you have this plan in place your mind will be at ease as you won’t be worrying about money or failure. Because you had already created a detail plan of action that allows you to anticipate the worst-case scenario and planned for it, you will not be afraid of failing
This lack of fear will help you to pursue your passion without reservations and achieve best results in a given time frame.
Think about what you’d like to pursue and consider these questions:
- What is the worst-case scenario?
- How can you ensure this scenario doesn’t happen? (Then, incorporate these steps into your plan.)
- What if this scenario happened anyway? What would you do? (Your solution shouldn’t be to “quit,” but to identify next steps that’ll move you toward your ultimate vision.)
- Work Hard, Be Consistent and be Persistent
I will not lie to you, the failure rate in business is very high, and I believe, one of the many reasons why failure rate in business is very high is because many aspiring extrepreneurs fail to plan, they leave their 9-5 job without first creating a detail plan, and for many of them who do create a plan, they do not take consistent action. You have to not only be very intentional if you are going to create a business that last, but you also have to be consistent and persistent if you are going to succeed.
Many people say they want success, ‘I want to have a business earning 6 figure income, I want to be a top motivational speaker………..’ they tell you what they want, but they will not tell you how they are going to get there, and when challenges and obstacles come, they give up, ‘its too hard. I just can’t bother’.
As Eric Thomas said, everyone wants to be a beast, until it comes to doing what real beast does.
You want to earn the money you see other people making, but you are not willing to put in the hard work and dedication it takes to make that amount of money.
You want to be number one, but you spend most of your time doing things that will not help you to build your business.
Success is in the things you do. It is not in what you want you. It is not in what you know. It is not in the amount of money you have or the degrees you have. It is not even in who you know. But success is in what you do every day even when you are tired, even when it seems you will not achieve your goals, even when people tell s you that it will not work, even when you don’t feel like doing that think you need to do to grow your business.
The little things matters just like the big things, even more than the big things.
If you are going to quit your job and build your own business, you have to get your act together.
I want to ask you a question, to see that vision comes to pass, how much work are you willing to put in to make it happen? I asked you this question because unless you’re committed to your vision and ready to put in the work, and be consistent in growing your business, it will be very hard for you to achieve success.
- Surround yourself with other entrepreneurs, mentors and hire a coach
My life and business changed when I got in the company of other entrepreneurs, people that were playing at a higher level than I was at the time and they inspired me to ‘up’ my game and stop playing small.
When I first thought about entrepreneurship and what I wanted to achieve, I was never thinking about impacting people around the world, or thinking about earning a 6 figure income or more, I was only thinking about serving people in my environment, but they showed me that it was possible to be humble, spiritual, and at the same time have a big bank account while serving thousands of people around the world, most of them you will never talk to directly or know their names but they are actively contributing to your overall success.
Surrounding myself with a community of likeminded individuals, learning from them, seeing the work they are doing and the impact they are having shifted my mindset, I was no longer comfortable thinking small, or having a small business, I wanted to impact the world.
And that is how I want you to start thinking.
If you really want to be successful, find a community of likeminded individuals and learn from them. There are literally hundreds of groups on Facebook, if you don’t want to join mine you can also check out others where you can connect and learn from other entrepreneurs that are doing incredible stuff in their business. (Check out my Facebook Group Turning Passion Into Profit: Aligning Your Business With Your Passion)
If you like the work I am doing, please subscribe to my email list where I will send you incredible stuff to help you build a business and life you love, and please do share this post on social media platforms you are on.
TAKE THE NEXT STEP
If you are really want to take your life to the next level and step up your entrepreneurial game by turning your passion into a profitable business you are in love with, let’s get in touch, then apply for my coaching program and turn your Passion Into a Striving Business.
If you are ready to uplevel your game and start seeing results in no time, you need to apply here
What’s been holding you back from building your business around your passion? Or, what’s another strategy (not listed above) that you use to create a profitable business around your passion? Please leave your thoughts In the comments section below and share these tips with your friends on Twitter or Facebook.