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Could you quit the day job to become an entrepreneur?

enterpreniurGone are the days when people were content with a job for life. If you feel disillusioned in the workplace, you know what, you can just up and leave. Life’s too short to feel unhappy at work. Why should you settle with an arduous commute only to feel undervalued and unfulfilled when you arrive.

The internet has greatly increased the options at our disposal. There is enough high quality information available for even a business novice to get a good grasp of the key strategies to grow a business from the ground up. Resources such as the business blog at Everline.com (a short-term finance provider for small and growing businesses), the BBC’s Entrepreneurship pages and the knowledge and community pages at Simply Business are an invaluable source of free assistance and ideas.

So, if you’re considering trading in your comfortable job, steady wage and paid holiday entitlement for the unpredictability, stress but ultimate satisfaction of going it alone, here’s some advice to help you along the way.

Don’t resign on a whim

It’s awfully tempting, particularly after a bad day, to make a snap decision and hand in your resignation without giving it the forethought it deserves. There are some days when the thought of going to work is soul destroying, but if you’re going to make this work, you need plenty of time to plan ahead while you have the safety net of a steady wage.

How are you going to support those who depend on you? Are you willing to work longer hours? Are you happy to except a drop in living standards? These are all important considerations before breaking the news to your boss.

Start your business while you’re still employed

It’s always best to start a new business while you still have a regular salary to depend upon. This gives you the best of both worlds, allowing you to develop the business so you can transition seamlessly from employment to entrepreneurship while avoiding a prolonged spell without earning.

Prepare for the onslaught

The truth of the matter is, in the early days, you’ll probably never work so hard. The stress can be enormous, after all, your livelihood is at stake, and the thought of crawling back to your self-satisfied ex-boss is too much to bear. So you have no choice; you must make it work. The trouble is that at some stage, everything which can go wrong probably will, and when it does, the buck stops with you.

After a year of business you might think you’ve turned the corner and it’s plain, profitable sailing from there on in, but like the second album, it is often during the second year that a lot of businesses fail. You should still prepare yourself for plenty of rejection, inconsolable downs and plenty of late nights; but you know what? It’s still worth it.

Don’t dwell on the past

Mistakes are inevitable for any entrepreneur, but as clichéd as it may be, it is the mistakes you make which teach you the most. It is important not to dwell and think of what might have been. Stay focused on the future, set achievable daily goals and remain positive; all it takes is one email to completely change your fortunes.

Do you have a strong desire to become an entrepreneur? Perhaps you’ve made the transition to self-employment and you’d like to share your tips? Either way, we’d love to hear from you, so please leave your thoughts in the comments section below.

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