Are you thinking about quitting your job and starting a business of your own? If so, you must do these ten things before you quit. This article will discuss those ten things in detail to help make sure that everything is taken care of before moving on with the new business. By following this guide, you’ll be able to say goodbye to your day job once and for all!
Let’s take a look at these things.
1. Always Do Your Research
Do your research before you head out the door. If there is a way to transfer everything over, take time to do it so that when you get into your new gig, all of the hard work has been done for you and can be put into action right away. This includes making sure any devices are synced up with necessary information to make the transition seamless.
2. Communicate With Your Family, Friends, And Mentors
Communicating with your family and friends can help relieve some of the stress you may be feeling. Ask them what they think about quitting, why you should stay or go, how to make it work. Ask them about your interest in pursuing a new career and what could be possible obstacles. Communicate with mentors or professionals currently employed in the industry you’re considering if they have any wisdom to offer.
They will probably want to know why you’re thinking of leaving, too – that’s helpful information for anyone advising you on where to go.
3. Make A Solid Plan
Take some time to analyze your skills and capabilities. This will help you figure out what type of work would be most fulfilling for you-for example, if it turns out that you’re good at writing copy but not so great with numbers, then maybe a job in PR is the way to go. Once you’ve figured out what type of work would make your life better, it’s time to start making a solid plan.
Planning is vital when quitting the job because it helps provide for stability if things don’t go as planned or any obstacles along the way.
4. Approve Your Idea
You want to quit your job. You feel like you are done with the routine, the long hours, and all that comes with it. The problem is, do you have a backup plan? Before resigning in haste or emailing off an insensitive note detailing your reasons for leaving, take a moment to think about what’s next. You may be in a position that you will not need to work again.
If so, great! But for the rest of us who do have to go back to work and make money, we must take time before walking away from our jobs to carefully think through what it is precisely that we want or don’t want from our work.
5. Make Your Business Legitimate
I’m not a lawyer, but I still have to say it. If you’re self-employed or running an unregistered startup company the government may not accept that as legal income for taxes and other purposes even if your contract says so. You’ll want to get some paperwork in order before you potentially lose all those precious tax deductions!
If you’re not the self-employed type, check with your employer to see what they can do for you. If they have a retirement plan or medical benefits contingent on working there, it could be worth staying just for those little perks!
6. Organize Business And Personal Funding
Organizing business and private funding is the first step in successfully transitioning into entrepreneurship or consulting as an independent contractor. Take care of any outstanding bills, taxes, insurance claims, etc., and make sure there is enough money in the bank to cover at least six months of expenses.
7. Acquire New Skills
Every year, the world of work changes. If your skills don’t change with it, you risk being left behind and unemployed. That’s why before quitting a job, consider acquiring new skills that will help broaden your arsenal for future opportunities. This way, you’ll be ready to head into the workforce at any time!
8. Talk With Experts
Talk with a career counselor or expert in the field you are transitioning into. They can give insight into what skills and qualities employers look for, how your experience may help, etc. Ask for a recommendation if possible, even if it’s just an email of introduction or connection on LinkedIn. This will help when looking for new opportunities down the line and show potential employers that you can work well in professional settings.
9. Comprehend The Risk Involved In The Business
If you’re quitting your job to start your own business, you need to be confident that it will work out and that there isn’t any risk involved. Even if the only way for you not to fail is for someone else to back up your project, you need to be aware of the risk that they might not.
10. Have Faith In Yourself
There are many things you can do to make your experience better while trying to find another job. But the number one thing is to have faith in yourself! You are more than capable and deserving of finding something that will make you happy, so don’t let anything get in the way.
The Bottom Line
It’s always a good idea to go through the steps below before you make any drastic decisions. It will help guide your decision-making process and ensure that it is for all of the right reasons if you do decide to quit.