Do you find yourself a little bit lost? Are you trying to choose between being an employee or being the boss of your own business? Before you quit your job to start a business, read this first and contemplate on yourself.
Are you ready?
You might answer yes right away, but come to think of the things that may follow after the word ‘ready’. Are you ready to put yourself in a battle against money, time, competitors and yourself? You don’t simply start a business because you feel like you are ready, you must be realistically ready for everything that may happen, good or bad.
Would you take risks?
It’s good to become an opportunity seeker but being a businessman takes more risk than you can imagine. Would you take the risk to use the money you’ve earned with the possibility that it may not return? Would you risk your time to stay late at night and finish everything for the next business day? Would you risk your relationships with some competitors who maybe your friends or relatives? Would you risk your friendship with your clique if they become your client? Would you risk your ego listening and reading bad comments and reviews about your service?
Will you be happy as the boss?
They say being the boss is one of the best feelings in the whole world. You control your time, your people, and you earn a lot of money. But come to think of it, employees go home after working hours, but the boss doesn’t have that luxury if there is a crisis. He wakes up in the middle of the night dreaming of bad things that may happen to his company. He might even have to leave a personal event to go into the office because an urgent matter needs attention. Employees don’t have anything to worry after their shifts. They don’t care about their co-employees after work. But the boss needs to make warnings and reprimands his people when they deserve it. He makes sure his employees are paid at the right time with the right amount. He is also liable when injuries or deaths occur within the working premises. He might ruin relationships if he fires an employee. An employee uses a particular skillset on a relatively narrow scope of work while the boss needs to be flexible enough to wear multiple hats. An employee goes home and spends his salary in any way he likes, but the boss budgets everything that he has, some goes to new supplies, some to damaged properties, some for the utilities and many more.
Still thinking of quitting your job to start a business?
You might want to take a long look at that resignation letter saved on your desktop. It takes a lot to leave something and start again, are you willing to give up everything? If you still say yes to all these questions, then you might be ready to quit your job to start a business. But if not, spend your time as an employee mastering the things and skills that you need to become a business owner.