Jun 29 2011
In this economy there are lots of people talking about being an entrepreneur. Frankly there is no better time than now to venture out on your own to make a living. And while I agree with this sentiment it doesn’t mean you should just rush into it out of nowhere.
There’s a big difference between being ready to work for yourself and simply quitting your job because you don’t feel like working for someone anymore. Not to mention there’s a ton of discipline involved in all of this.
I love working for myself but it didn’t come without challenges. Here are six tips to get you started working for yourself….
Do Not Tell Anyone at Work of Your Plans
We are tempted to let our coworkers know of our future plans. It’s the nature of business. But if you’re really serious about quitting your job to focus on something else then keep it to yourself. Even if you think you’re close with someone in the office you just never know. It’s not worth the risk. You may need your current job a while longer. No use chancing it.
Be Professional when you Leave
Never burn any bridges. It’s that simple. You simply never know when you might run into your old bosses again not to mention might need investors, partners, etc etc. Obviously this depends on your job and current relationship with these people but I think you get my point.
Have a plan and something that’s working
Some people dive right into another job cold turkey. Me? I couldn’t do that. My suggestion would be to start your business in your free time and build it up to a point where you know you can succeed. A point where you know or can somewhat predict if you put in more time eventually it’ll pan out. Easier said than done but unfortunately it’s important to be earning income while you build your venture.
Already be Making Money Elsewhere
To follow up on the plan, I would suggest that already making money (unless you have a TON saved) is essential. You want to know you at least have somewhat of a stream of money coming in before telling your boss where he can shove it.
Have enough Cash to live for a while
I would say six months should be your minimum. Even if you are already making money at your new venture it’s best to know you can live without any new income for a bit (just in case).
Working from home or for yourself isn’t as easy or “fun” as people think. You have to be prepared to bust your ass, put in the hours, and discipline yourself from home where it’s easy to get distracted. Having a full time job working for someone else is easier in my opinion. It’s easy to slack off, be lazy and check your emails all the time, and get away with it because you have a set salary. At home, every minute you miss you are potentially losing money.
“All the other stuff”
Don’t forget about the “little” things like setting up your business legally, filing your company name, insurance, all that fun stuff. Set up a bank account, blah blah. Do your research and best of luck!
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