I Haven’t Quit My Full-Time Job to be an Entrepreneur
Here’s why — and you might want to consider too
I often read about people who successfully left their full-time job to be entrepreneurs. I almost took this leap of faith as well. I had a determination to jump to it. But, I also read about people who did this path and based on their experience, it wasn’t as easy as they had imagined.
These two sides of the experience got me to reconsider my plan. I am still working on my full-time job. But also, I still haven’t given up on my business.
Here’s why.
Monthly Obligations
I am a single mother, and my full-time job is my only income to finance myself and my son. It is the main reason why I still stick to my full-time job. Since I still don’t have any stable clients yet, I don’t have a fixed income from my business that I could rely on.
When a business hasn’t generated income, it would be unwise to leave a full-time job that pays our monthly obligations.
Cash Flow to Fund Business Expenses
Currently, I utilize some of my salaries to fund my business expense. As an interior designer, I need to pay monthly software licenses, website and domain subscriptions, learning sources, and in the future, might be employees. Without a solid income, as my business is not stable yet, I couldn’t fund my business expenses, apart from my monthly obligation.
New business needs expenses as well, even though it is from home. So before we leave our full-time job for the business, make sure its income could pay our business expenses.
Still Need Time on Business Planning
I just built my company a year ago. People haven’t known my company. Getting clients when I am still unknown could be difficult. That’s why I still need time to do business planning to reach more people that convert to sales.
Setting up a long-lasting business needs proper business planning. In particular, some seniors are already stable on the market and also juniors like us. Therefore, we need to find a way to strive in the middle of market competition.
No Investor Yet
My business is still brand new. I need stable clients to build trust and gain profit. Due to this reason, for now, I still can’t consider an investor. I don’t want my investor to experience loss. That’s why I still rely on my full-time job salary.
As for takeaways, to quit a full-time job to be an entrepreneur is not as easy as what people say. We need to consider some things, such as:
Can we get fixed income from the business that could pay our monthly obligations?
Does the business has the cash flow to fund our business expenses?
Has the business generates clients?
Do we have any investors to help to finance the business?
On the other hand, Here’s what we can do before we can quit our full-time job to be an entrepreneur:
Saving some money: at least, to pay our monthly obligations and business expenses when we quit our job.
Invest time to hone our skills: use this chance to learn skills related to our business.
Implement business marketing and branding: Implement what we learn for our business marketing and branding. For instance, content marketing, so people know that our business exist.
Yes, we would be happy to run our own business fully, but we can’t just be impulsive to quit the full-time job too early before we are ready.
