It’s not uncommon to start a business while still working a day job. And while it’s helpful to have an outside source of personal income in the beginning it can make for long hours and little if any work-life “balance.”
If you’ve been working full-time and building your business on the side your day might look something like this:
4 AM wake up
5 AM clients or business work
8 AM eat, shower, and head to J.O.B.
9 AM clock in at J.O.B.
5 PM clock out of J.O.B.
6 PM clients or business work
8 PM home, dinner, family
10 PM bed
What’s that? You have clients and business work on weekends too? Of course you do, you’re getting a business off the ground.
Does this sound like you? Are you ready to quit your day job and focus on your business full-time?
You need a quitting plan — one for getting your business to a spot where you can quit your day job.
If you’re extremely risk tolerant you might jump in with both feet, turn your back to the wind, and say “let’s do this!”
If you’re of the slightly more cautious ilk — you have a spouse, kids, or an African Ringneck parakeet to feed — you’ll want to create a plan to cover the bases and prepare for any contingencies.
Here are six things to do before saying goodbye to your nine to five.
Include significant people in your plans
Are you married? Do you have kids? Transitioning from a consistent, guaranteed paycheck to relying on your business earnings can be stressful––be sure to include your significant other in these discussions from the outset. If you tolerate risk more than your significant other consider building up a bigger cushion in savings to help allay their fears.