In the back of your mind, you’ve been fantasizing about quitting your job and starting a business for years. So why haven’t you done it yet? If any of the following ring true, it’s time to stop dreaming and make that vision of starting a business a reality!
1. You’ve Got an Idea You Can’t Leave Alone
You’ve come up with a fantabulous idea for a product or service, and as far as you can tell, no one is yet cornering the market in the same way. The idea keeps eating at you. Now’s the time to explore that idea realistically and determine whether it’s feasible to build a business around.
2. You’re Passionate About Something Other Than Your Job
If going to work is something you do out of financial necessity, and you’re not being fulfilled by what you do, there may be other passions that you would prefer to put your energy behind. Passion is a great driver for entrepreneurs, so if there’s something you could see yourself eating, sleeping, breathing, and living day in and day out, it might be time to put in your notice at your job.
3. Your Hobby Has Grown
Maybe you’re really into creating terrariums, and you started selling your creations a few years ago. While it’s perfectly possible to keep your hobby business on the side, if it gets to be more than you can manage while working a full-time job, it might be time to focus on it 100%.
4. “Start My Own Business” Has Been on Your To-Do List for Years
You’ve dreamed and dreamed and dreamed of starting a business, but are too fearful to actually do it. You’ve got your business plan ready, and know all about sole proprietorships, corporations, and LLCs (after all, you read this blog!). Starting a business is scary, yes. But once you examine those fears (fear of failure, fear of risk), you can banish them out of the way and finally accomplish your longtime goal.
Reasons You Shouldn’t Quit Your Day Job
If you want to start a business simply because you hate your boss or your job, you probably won’t find success starting a business. When you run away from something, you never address the real issue, and that thing you run to (a new endeavor) is automatically set up for failure.
Likewise, if you want to get rich quick, starting a business is probably not the right decision. To start a professional corporation takes time, and growing it to profitability takes even longer. Examine your reasons for wanting to become an entrepreneur, and if they are genuine and solid, go for it!
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