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Before Quitting Your Job

Introduction [BSU102xx]
Giving up the security of a full-time job to start your own business is a risky, often stressful move. "The biggest reason people don't end up quitting is the fear of uncertainty. They don't know what might happen and they don't want to give up the security that they already have," says Sean Ogle, w...
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by: Alina Dizik, addition by Dupe Layinka | date: 2015-11-27

Are you just miserable in your current job? [BSU102xx]
Some people who think they want to be entrepreneurs are just unhappy in their current roles, says Pamela Slim, the Mesa, Ariz.-based author of Escape from Cubicle Nation (Penguin, 2010). Developing a thorough business plan can help you avoid any impulsive decisions. 'In addition to wanting to quit, ...
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by: Alina Dizik, addition by Dupe Layinka | date: 2015-11-27

What will your new day-to-day routine be like? [BSU102xx]
Instant freedom can be dangerous. Ogle recommends developing a daily schedule to follow, just as you did in your 9-to-5 job. 'When you now have all of this free time it gets really easy to say, 'Oh, I'll do that later',' he says. The week after quitting his job, Ogle started going to the gym at the ...
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by: Alina Dizik, addition by Dupe Layinka | date: 2015-11-27

How will you raise money to keep the business going? [BSU102xx]
Lack of capital is one of the main hurdles to entrepreneurship. Rather than figuring out cash flow as you go along, it's best to come up with realistic projections as part of your business plan before deciding whether you can afford to leave your job. Your business may not be profitable for three to...
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by: Alina Dizik, addition by Bimbo Balogun | date: 2015-11-27

Have you factored in possible unforeseen costs? [BSU102xx]
When Jody Dyer launched Blackbird Tees, an apparel company in Richmond, Va., she was surprised by the many expenses her business plan hadn't anticipated. We spent 'thousands of dollars experimenting with different fabric styles and inks, messing up screens, destroying shirts, making the wrong color ...
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by: Alina Dizik, addition by Bimbo Balogun | date: 2015-11-27