Quitting your Job to start your own business? Are you Crazy?

by Roy Paul Prosise on November 25th, 2015

Many people who think they want to be entrepreneurs are just unhappy in their current job working for the “Man.” If you are serious about bringing your own company to the service world or the “million dollar idea” to the marketplace, you have to find the capital, time and energy to build it. Developing a complete business plan can help you avoid any impulsive decisions because in all honesty, your day job is still paying your bills! In addition to wanting to quit, you have to have a viable idea and an effective sales, marketing and operations plan. Many successful entrepreneurs will tell you that if you are serious about your own company, you should be prepared to quit your day job and work full-time on building your new company. This is bad advice! I always encourage inventors to work two jobs as long as they can until their new company to make as much income as their old job!

Ask yourself these questions:
  • How will you raise money to keep the business going?
  • Are you willing to wear many hats?Manufacturing? Supply-chain management?? Distribution??? Social media???? Sales?????? Marketing????????
  • What are your strengths and weaknesses?
  • Who are your customers and competitors?
  • Have you factored in possible unforeseen costs?
  • What will your new day-to-day routine be like?
  • Is your support network on board?Do you have a backup plan and options?
  • How will you avoid burning bridges?
  • Have you quit your job yet?

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