Starting your own business is a huge goal to have and perhaps the biggest step toward reaching that goal is the moment when you – finally – quit your job. Whether it be exhilarating or terrifying, quitting your job to start your own business is a momentous occasion, but doing it the right way is important and there are a few things you need to consider:
How to Quit Your Job (and Start a Business) in 6 steps:
- Consider Your Family: Starting a new business is a huge decision, and it has the potential to seriously impact all of your loved ones. Starting a business is not just about you, so before you quit it might be a good idea to have a family meeting or two.
- Check Your Bank Balance: Do you have enough savings to get you through a lean first year? Through two? Can you afford a family crisis as well as your business if an emergency occurs? Starting your own business can be costly so before you quit: double check your numbers.
- Know Your Motivation: It’s one thing to be successful when you have someone checking up on you all day, but do you have the motivation to go it alone? Can you be accountable for your own time? Make sure you have what it takes to motivate yourself toward success.
- Be Professional: No matter how much you dislike your job or your boss or your co-workers, no matter how thrilled you’ll be to walk out that door that last time, you need to be graceful. Draft a professional resignation letter and keep doing your best work, right up until your last minute on the clock. Keep all bridges intact.
- Give Notice: Be prepared to give between 2 and 6 weeks notice after you’ve handed in your resignation. Some employers won’t require it and will be happy to let you leave right away, others will need time to find a replacement for your position.
- Bet On Yourself: This is it. Now is your chance. Take all your passion and knowledge and energy and go for it! Become your own boss, and enjoy every second of the crazy ride that is being a business owner.