Can I Quit My Job To Be My Own Boss?
At some point in their career, the majority of business professionals (young and old, fat and slim, tall and short) think about quitting their job to become an entrepreneur. Unfortunately, many who do, fail and many who would succeed, don’t ever try.
Here are my thoughts in less than 500 words on the topic:
The Odds Are Stacked Against You More Than You Know
Personally, I don’t rely on statistics when it comes to the number of failed businesses in the U.S. annually because it doesn’t take into account small businesses who never “formally” close meaning that people keep their companies as a tax-shelter or for consulting as a second job instead of announcing that it no longer makes money.
How Do I Quit My Job and Succeed?
1. You have to know what you’re getting into – Marketing is part of many jobs that I have and I am writing this at 4:40 a.m. so that I can be in client meetings today. As my company has grown, I have had to do this less, but businesses are very, very time-consuming and you have to be willing to work.
2. You have to choose the right business – Don’t think Bill Gates. Rather think reinventing a business model that exists and has current market demand. Many entrepreneurs think that they have the next best idea and quit their job only to come to the realization that nobody is interested in their product or service.
3. You have to know who to sell to – Formulate a plan as to who is going to buy your product or service and base your marketing, sales pitch, website, etc. on attracting them. You could have the biggest rifle in the woods, but until you actually know how to attract a deer, you’re not going to be able to shoot anything.
4. Think a lot, but not too much – Don’t think things through for two years, but don’t get pissed at your boss and quit because you’ve been mulling over an idea for 2 days that your cousin liked. Smart business professionals succeed because they make good choices. Begin to do so yourself.
In the End
I don’t want to deter anyone from quitting their job to open a business, rather I want to deter people who are not prepared to be an entrepreneur and want to encourage those who are.
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