So it’s important to have an idea before hand of the circumstances that would cause you to call it quits, that way you can make a logical decision when the time comes.Īnd while I’m pointing out the importance of having a safety net, I don’t want to discourage people by acting as if failure is a predestined result. The problem with starting a personal business is that invariably emotion becomes part of the equation - you’ll be putting your sweat and tears into it for months or years. I think having a similar strategy for business is wise, that way you can walk away from the table if things aren’t working out. It’s sort of like the casino - most people have a maximum amount of money they are willing to lose, after which point they simply walk away from the table. With regards to the last point, I think it’s important for every person to put a hard line in the sand with regards to a new endeavor.
You’re forcibly taking action that is going to upset your life and move you pretty much as far away from your comfort zone as possible. This is probably the hardest stage of a new business, in my opinion – getting up the nerve to quit your day job.
You have this great business idea, are tired of your current 9-5 job, and are ready to take the plunge off the cliff, hopefully landing somewhere far better below. So there you are, on the brink of making a big life-changing decision, and you’re trying to get the nerve to finally do it.
This is the second post in an ongoing business series I’m going to be writing.