Full-time employment promises a lot of things that make everyone feel secured. But for some people who memorized every colleague's sighs and yawns for years, it's reasonable for them to have their well-deserved break.
However, some financial uncertainties hinder everyone from giving up the only source of their bread and butter. Due to this, not everyone who packed their things to go solo has given up their jobs out of impulse.
Beyond the scenes, they must have worked up something that guaranteed specialty food on their fancy tables and a well-coated roof above their heads.
You, too, must prepare for this transition. However, sure tickets to greener pastures have a corresponding cost that is “sacrifice” — tons of it.
Here are some things you should do before quitting a full-time job.
A Concrete And Decisive Plan
You don't jump into a rescue mission without the tools and a life-saver strategy. It's the same when trying to bail yourself out of the corporate position to enjoy a life of freedom where you're the boss.
Research about possible ventures, including their costs, risks, and gains. Consider your knowledge, skills, and experience in drawing a new path in life. It's important to reflect on things you love doing and think of how you can make money out of them.
Don't forget to take into account some backup plans and emergency funds. Things may not work out as supposed, so give your dispositions enough allowance for failures and adjustments. That is why efficient entrepreneurs have their plans B, C, D, and so on.
Take Advantage Of Employed Benefits
Check your unused entitlements while you are a tenured employee. Some of these are private loans or government-backed assistance an unemployed individual could not avail.
You may use this financial assistance to support your new business. Some people apply for home loans or car mortgages while still having employment documents to prove their capacity to pay.
Sleepless Nights
Testing is a crucial phase of this transition. This stage will determine whether a plan would work or not. Those who left their jobs for a better opportunity as self-employed individuals had to see the new venture rake in an expected amount of money before expressing their intent to resign.
These people had to work another shift to test their theories and clear the doubts. As a result, they have very little to zero hours of sleep, and they need to continue this kind of sacrifice until the day of their freedom from their nine to five job.
Sell Things Online
A way to support these ambitions of becoming an autonomous individual is by selling some products online. You would need enough funds to cover the first months of unemployment. The profit you'll get by finding items to sell online for huge profits would incredibly help you succeed in this shift.
Consider Multiple Streams Of Income
Invest in stocks, earn from blog monetization, be an affiliate marketer, and identify more opportunities while you make a full-time job compensation. Continue to do this even after you gave up your post to start a new business.
Future Endeavors
In your grand plan, include what comes after you succeeded in becoming the boss of your own company. Have plans to scale quickly or continue to be a small business for a while? Would you partner with a Growth Marketing team to reach more people fast, or do you want to do everything independently?
While it is convenient to decide for your benefit and work on your terms, the path is full of disappointment, frustrations, and loss. However, the rewards outweigh all the pain and sacrifices, so you better start brainstorming and hustling as early as now.
