8 Considerations If you Are Going to Quit Your Job for Your Business

In this blog, I am going to share with you 8 considerations which you need to think about, which you need to take time on to answer in your life, if you are considering quitting your job. If you are thinking about quitting your job for entrepreneurship and self-employment, these 10 things come from real life experience. I am going to be open, honest and raw with you in this video, we’re going to talk about the emotional rollercoaster which you are going to go through. I am going to talk about the real implications in real life that you are going to go through and ultimately my goal is to give you guidance on real life.

Wherever you are now, you may have a house to pay for, a family and you may have people around you who depend on you. This is a real adult decision, which you will have to come to. And if you want to be successful long-term in your business, then you are going to have to take that leap eventually. There is no way around it.

There Will Never be a Perfect Time for you

If you are thinking that you are going to come to a perfect scenario, where luck and the stars align and you force your way out of your job, it is now like you’ve got everything waiting for you. And it is all easy to just go up to your boss and say that you are quitting, because you now have 100k in the bank, and you walk off into the sunset. This is never going to happen. There is going to come across a time it is not a perfect opportunity and it is not perfect, but you are going to make that choice anyway. 

For Kev, when he quit his job, it was in December and the following month was going to be the Q1 cliff. At the Q1 cliff, Kev had an Amazon business, and after the Christmas rush and after the Christmas Period, you have a considerable drop. Kev had never experienced Q1 before, so he never knew there was so much unknown around what he was going to experience. But, he made that choice and leap. 

So, keep in mind that it is never going to be perfect and you have got to accept that it is never going to be a perfect opportunity and it is never going to be a perfect time. 

Get Counsel

This can be friends, best friends, family, girlfriend, boyfriend, fiancé, fiancee, husband, wife and more. You need to get around to them and speak to them, you are going to have to have a real council meeting, you’ve got to be counselled by the people closest to you, and you have got to be under the understanding that the people closest to you, always want the best for you, so they are not going to give you bad advice; although, they may give you advice which is right by them. They don’t want you to get hurt and they may say that they don’t think  it’s the right time for you, so they may influence you to try keeping you safe, but you’ve got to take all you’ve got to take counsel from everybody. You’ve got to speak to your husband or wife, and say that you are going to consider going for it, and you have both got to be in alignment together. You don’t want to have made that life-changing decision for yourself and your family weren’t on board, because this is ultimately going to give you some sort of pain later on. 

Take Some Time to Decide on How you Would Like to Live Your Life

Ultimately, if you get to a crossroad, where you can either take one door which is into entrepreneurship, another door which will give you the potential for all of your dreams, everything which you are wanting - your freedom, your goals, your ambitions and being able to work on your terms, and another door where you don’t take that step and it means you are going to be in your career, which you may not politically like. Then you have to think about, what does this mean to you? Are you going to have regrets through that door, or are you going to give everything that you have got to be successful? One of the things which ultimately Kev never wanted, was to never want regrets in his life. You don’t regret the things which you did do, the regret the things that you didn’t do. If you take this leap and things don't work out, you are going to be OK. This is a consideration to make. Are you going to have regrets in your life? If these regrets are real burdens, then you must take that leap. 

Look at Your Financials and Strip Down Your Expenses 

All those luxury things which you may have right now - your TV, Sky television or Cable television, whatever you have got, strip down on it. All you need is the necessities - the internet. Call up your electricity and gas board and cut down on your expenses. Go across everything. Get rid of your Netflix and all those little things which you are paying for, every single thing that you can - cut down on those expenses. Lower your expenses as much as you can; you’re going to feel a lot better going forward, when it comes to making that decision in your life.

Another thing for financials, is you must calculate what those expenses are, and what you are going to need each month. So, you are going to have to take the time to calculate and know your business. So, whatever business model which you are going into, whether that is on Amazon, or a physical products business in eCommerce, you are going to have to do some calculations, look at current sales, the business that you have, and calculate how much money you will have to take out of that. This is going to impact the way you grow, how much availability you have to invest in your business and in yourself, and your own personal education. These are just some suggestions which you could do.

Try to Save up 

Try to save up a little in your bank account. If you consider possibly quitting your job in the next 6 months, try putting some money away, each month, for the next 6 months. Cut down on your expenses now, and put in that little extra money. Let’s say you cut out your Netflix, get that down into a savings account for yourself, let that pile up, then it is going to give you some security. You are going to feel much better if you have some sort of security and lifeline to back up on if necessary. 

Always Consider What you are Going to be Doing in Your Free-Time

That free-time that you now have, those 8 hours a day, plus the travel and all of these other things which have made you have less time. Imagine now that you have all this free-time, there is an incredible amount of value which you can get done in this time, if it wasn’t getting soaked in by somebody else. 

Plan Ahead of Time

Forecast what you are going to be focusing on. Imagine you have 8 hours spare every day, what are you focused on? The more time you invest in something and the more focus and energy you give something, the more something is going to grow. 

If you quit your job, imagine the urgency, the drive and the relief you are going to have. Saying that you are going to make something happen. If you can't find the way, then you are going to make the way. 

Faith

You have got to have a bit of faith that things are going to work out alright. You don’t know what is going to happen in the future, but somehow things just happen. You are going to take the leap and make it happen, and within 2 weeks of quitting your job, an opportunity arises - another opportunity for another business model. Another opportunity for success. This all comes from faith that you have in your own ability - faith that you have something greater out there. 

When things get tough, when you are worried, when you are up at night, somehow, your brain, you, your partner and your loved ones, you will get together and find the way.

Further Reading:

How to Automate Amazon FBA: 5 Steps

At Least 6 Online Business Models To Build Alongside Amazon FBA For Multiple Streams Of Income

10 Reasons to Outsource Your Amazon FBA Prep as Quickly as Possible