Making the decision to "quit the day job" can almost be a bigger decision than getting married, or starting with a family. ;o)
I've personally heard so many people... "I can't wait to quit the day job." "I dream of the day I can quit the day job and be my own boss." Nothing wrong with that, provided it's done in the right way.
There is a method I use in almost all aspects of my life. I especially use this method in/with business.
The method I'm talking about is what I call the A.P.A.R > T process.
Awareness - Plan - Action - Review leading to Tremendous, Thunderous... SUCCESS.
Just a very brief background as to where I'm coming from, if that's ok...
I've known many people who were laid off/retrenched/made redundant from their job. And as result of circumstances, were not able to find other employment. The result was that many took their package and "started their own business" - this was their golden opportunity to quit the day job. Usually this was a panic decision, in many cases. And then, seeing these entrepreneurs a while after starting their business was actually almost the same as when they were in their 9-to-5 job: stressed, frustrated, anxious.
So, what's the point?
I've found there to be 3 main criteria that influence a person's decision to quit the day job.
Financial. This can be two-fold: 1) the need to bring in money, e.g. being laid off/retrenched from work, 2) seeing/hearing what someone else does in his/her own business. On its own, it may not be a good enough reason to quit the day job.
Practical. This is often linked to circumstances. If the person is laid off and cannot find employment, business could be the practical option. It may also be as result of traveling costs. And it can be skill related - where a person has a marketable skill where they can make a better living in their own business, than working for an employer. This could be the one area, if used on its own, that can result in success.
Emotional. The most dangerous. I say this because it can blind the person to the logic, practical aspects of business. This is frustration, anxiety, anger, "hatred", with the 9-5 job. But emotion can also be a positive: it can give us the drive and determination to go for it. Personally I would never suggest using this as the only reason to quit the day job.
A combination of the 3 criteria is usually a good idea in making the decision to quit the day job.
As to the own business thing...
First and foremost, personally I love business! But as someone said, "we're all different". I started my first home/part-time business way back in 1979, and have very rarely not had a home
business, of one sort or other. I've worked as a freelancer/ contractor, and I had my own full time small business. I love everything about business, but...
There are 2 distinct options related to business:
- Self-employed
- Business unit (or business system)
They are different.
A self-employed entrepreneur, is actually no different to "working for da man". If you don't produce, your business stands still. Zero income. Zero growth.
A business unit is a real business. I say real in the sense that the business goes on whether you are personally there or not. It's a business that runs with or without your physical (or intellectual) input. It's a business that could be sold one day, for a profit. It has equity.
Market value. You are not the business.
The good news about the web is that this is an ideal vehicle for building a business unit. And it can be started part-time, relieving you of anxiety and stress.
I'm not going to go into details here on what it means to be in business, but I will say this:
Let no-one tell you it's moon shine and roses to build a real business.
It's possible that your first attempt at business will be unsuccessful. That's not negative - that realistic. It is also possible that your first attempt will be a runaway success. Also
reality.
Should it happen that your first attempt is unsuccessful, means that you will be streets ahead of the pack! You will be equipped with "real world" experience - and that cannot be learned from books, or an educational institution.
Having gone the independant, sole entrepreneur route, I can assure you it's a lonely, and often frustrating journey. Most of the time you learn by trial and error; often expensive lessons.
My part-time web business gives the extra's in life - nice things to enjoy, without touching my salary.
These are just some of the things I now have readily available in my web business...
A comprehensive, step-by-step guide that leads me through the process of starting, running, and building my business.
State-of-the-art tools to build a working business.
A multitude of articles available on everything from building a site structure to finding keywords to identifying niches.
A variety of articles on monetization ideas.
A Support system that assists me with any technical hiccups I may have - within 24 hours.
And...
For specific questions, help, and encouragement, I have access to the private Forums.
Whatever you decide, I just ask that before you take the step to quit the day job, please look at your options, and above all make the decision based on logic.
Colin Dunbar is the owner of www.eaziGOAL.com, your goal setting resource with hundreds of articles, tips, and interviews. You CAN turn your vision into reality with REAL goal setting! |
