Each of us working in the iLovePage1 team come from different backgrounds, and we all know firsthand how difficult it can be to take that step. Should you play it safe and take it step by step? If so, how will you make the time to build your own business while having a demanding job AND at least keeping SOME of your friends? Or is it better to just risk everything in one big bet, leave the job, and focus full time on your business?
These decisions are daunting. But people have done it, and are doing it. The brave ones who succeed become millionaires or build a self-sustaining muse while they can travel the world. The brave ones who don't succeed - well, nobody knows because we don't really hear about them. Perhaps they give up the dream and get a good job again. Perhaps they try again and succeed - and then we do hear about them.
Here in the iLovePage1 team, we’ve all done it in our own ways, and looking at our different experiences it’s clear there isn’t one correct path. But we believe anyone can do it, and we’re going to share our stories here.
So here are 5 ways you could quit your job and start your own business:
Safe play #1: Build your own business while working your day job
But it has also got clear advantages. For one, you can test your ideas before leaving your job. Once you see some form of traction, you can leave your job. However, at some point you do have to say goodbye to your boss, and not look back. When is that point? As soon as you see that someone is willing to pay for your idea.
Tweetable quote #1: Test your business while working but leave as soon as someone pays for your product. >>tweet<<
Tweetable quote #2: Building a business while working a day job means 14h-non-stop workdays (but completely possible!) >>tweet<<
Tweetable quote #3: Building your own business while working a day job is the least risky way but also the most time consuming. >>tweet<<
Safe play #2: Use day job salary to buy resources to start your own business
You basically have two extreme choices for how to spend your time when you want to start your own business: Spend your time earning money, exchange that money for someone else’s time. Or spend your own time on your own business.
The advantage of spending your own time on your own business is that you have full control. The problem is that you will need other resources since you don’t know everything - and then you will have to share equity to find co-founders, and a good team is crucial. If you work, on the other hand, you will earn money which can be spent to buy any resource you want. Ultimately, it’s a matter of personal preference.
Risky play: Leave your job and start your own business today
Life is short. If you don’t do it now, when will you ever do it? You can always come back to find a normal job later. But family, mortgage, seeing your friends collect better and better salaries… Only makes it more and more difficult to take the step and fully commit yourself to starting your own business, the longer you wait.
Of course, it helps if you have savings. And you might have to give up some of that luxury you are used to - buy hey, life is a joyride, and its ups and downs makes it worth living >>tweet this<<.
Tweetable quote #1: The longer I wait, the more difficult it will get. Should I leave my job today to start my own business? >>tweet<<
Tweetable quote #2: It’s now or never. I’m going to leave my job and start my own business. Today. >>tweet<<
Tweetable quote #3: I am willing to risk everything to pursue my dreams. I have finally decided to resign from my day job. >>tweet<<
Tweetable quote #4: I am willing to exchange comfort today for luxury tomorrow. I am leaving my job to pursue my dreams. >>tweet<<
How will you quit your job and start your own business?
Are you going to take the plunge and see where you end up? Or will you use a less risky tactic?
Let us know in the comments below. If you have any other thoughts that you want to bounce with us, feel free to ask in the comments section below.
What is the best way to quit your job and start your own business?