Why NOT Quitting Your Job is Extraordinarily Bad for Your Business
Quick question: Are you trying to run a business while holding down a full-time job? Do you find yourself saying, “I'll quit my job when my business takes off?”
If this sounds like you, you need to know you're hurting your business, big time. Please know that I'm not trying to be mean here, just honest.
After years of working with successful women entrepreneurs around the world, I've come to see that, at the start of their journey, many of these amazing, talented women held on to their day jobs long after they should have quit. It's a common problem and you're in good company so don't feel bad if this is you!
It's hard to let go of the stability and security of a day job in exchange for the uncertain roller coaster ride that is entrepreneurship. I know because I experienced this myself when I first started.
Even when you already have a few clients, it's tough to give up a consistent paycheck, paid vacation time, and health benefits. This is totally understandable but it leads to a bigger problem - if you're working full-time, when will you ever find time to hit your income goals in your business?
Yes, it's cool to make a little money on the side with a few clients, but is that all you want to achieve with your business? When you divide your time in this way, you won't be able to move beyond those 1 - 2 clients and experience true, sustainable growth and success in your business.
So here's the unvarnished truth: you need to quit your job (sooner or later) and embrace being an entrepreneur if you're serious about running your own business.
The good news is you don't have to do this tomorrow! Plan ahead so you can have an awesome, stress-free transition from your 9-5 to running your business full-time. Here are 3 options that will help you do just that...
Stress-Free Option #1 Cut The Hours
Have you considered reducing your hours or working with flexible hours? Many workplaces are transitioning to flexible schedules to improve employee retention. It's worth asking your boss or supervisor if this option is available to you.
Just imagine...you could work on your business in the morning and start at your job later in the day or vice-versa depending on whether you're a morning person or a night owl. Another alternative is to work more hours on certain days of the week - maybe Monday through Thursday - and have Friday off to work on your business.
The point is to create a flexible schedule so you can free up more hours for your business. When you do this, you'll be able to work with more clients and this translates to more cash for you! You'll start building significant momentum with clients and begin to enjoy a steady income in your business. The result? You'll be able to quit that 9-5 with minimal financial stress.
Stress-Free Option #2 Go Part-Time
What if your job is so complex that you can't even think about a flexible schedule? Maybe your boss would throw a hissy fit if you suggest fewer hours?
If this is your situation then it's critical that you to start putting plans in place to quit! A job that's extremely complicated and highly stressful will leave you exhausted and depleted with zero energy left to dedicate to your budding business.
Start looking for part-time opportunities somewhere else as soon as you can. Think about getting a part-time job in a similar industry so you don't have to take a huge pay cut as a newbie in a different field. The key here is to cover your basic living expenses so you don't feel anxious about paying the bills.
The moment you let go of that highly stressful, time-consuming job, you'll feel less stressed and more focused. You'll be able to commit to your business and reach your income goals much faster.
Keep your eye on the prize: when you work part-time for a while and spend time building your business, you'll quickly get to a stage where you can enjoy a steady income and work whenever you want.
How cool is that?!
Stress-Free Option #3 Take The Leap
If you don't think you can change your hours at your job and working at a part-time gig doesn't exactly make you want to jump for joy, then you have only one choice - just quit already! :)
- Amping up your marketing to gain more clients
- Participating in joint ventures and profitable collaborations
- Starting a great Facebook Ad campaign to attract new clients
- Creating your own awesome content calendar to reach a wider audience
I could go on and on here but you get the idea!
The freedom you'll feel when you finally quit your job is beyond compare but a quick word of warning: quit only if you've already started your business and you have a few clients.
If you're brand new in business, make sure you've set up the foundational pillars (a website, a way to collect payment from clients etc), and you've started making some money before you take the leap.
Some women worry that their spouse or partner won't fully be on board with their decision to quit. I suggest that you set some time-sensitive goals to ease anxiety and create a supportive environment for yourself.
Tell your partner that you're aiming for 5 new clients in the next two months, or you'll replace your current income within the next 12 months. Make the goals realistic and doable. This will help you to stay accountable and it will give your partner some peace of mind. It may even inspire them to jump in and help you build a successful business!
If you're confused whether you should quit your job, remember that it ultimately comes down to one thing: choice. Choose the path that you know will bring you the most happiness and fulfillment. Would you feel happier working for someone else or do you know, deep down, that you will only feel truly happy when you have the freedom that comes from working for yourself?
The more time you don't spend on your business, the more you make the choice that you want to work for someone else instead. Ask yourself if that's really what you want. It's important to know that you can't have your cake and eat it too. You simply can't have a full-time job and successfully run your business at the same time. You have to be willing to give up something now to create the kind of future that you envision for yourself.
If you're really struggling with this, work with a coach to uncover what may be holding you back and how you can set realistic goals to help you reach the level of success and happiness that you want - and deserve.