It's your dream. You've thought about it for years. You've done your homework, have faith in your product or service, and you're so tired of working for someone else. Is now the time for you to take that leap and quit your job to start your own business? Apple co-founder, chairman and CEO Steve Jobs once said, “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” Still need a boost of motivation to strike out on your own?
4 Questions to Ask Yourself Before You Decide to Leave Your job.
Every situation is unique. Ultimately, you need to have the confidence required to make this type of leap in your business idea. Yet, backing it up with some tried-and-true facts can help. Ask yourself these questions.
- Do you have evidence that your idea will work?
Do you have some type of evidence that your idea will succeed? You should have research, marketing information, competitor considerations and a market. Invest in a market study to determine if your product will sell. Look for competitors and determine if your product is truly better. Interact with your would-be customer. Do they like your idea? Pay for a local market research survey in your local area.
- Can you live with no income?
Do you need your current job to care for your family? In other words, are you ready to not make any money for as long as a couple of years? Every startup owner thinks their product is going to skyrocket right out of the door. That rarely happens. If living a very frugal lifestyle, not counting on any income from your new business is something you can do, that's a plus.
- Are you a problem solver?
It's also essential to be the person that can solve a problem. Whether it is a life change problem or one related to scaling your product, you'll need to keep a cool head, not give up, and continue working towards the opportunity. Ask yourself how you handle stressful situations in your current job. Do you instantly look for solutions to the problem or worry? Do you work with your team to find a solution or do you panic? It's essential to be the problem solver – the one that goes after the solution.
- Can you do a full time job and work on your idea?
If you aren't confident about question 1 and/or 2, take the time to build your business in your spare time. It means giving up time for other activities and sacrificing. However, you can make it work during these frugal first years and it does well, you'll be out the door of your current job faster.
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At Ideagist.com, it's our job to help you to innovate and change the world. It's easy to get stuck on the “what if” concerns, but with the proper tools and resources, you can launch your idea incredibly effectively.