How can I work for myself full-time?
I am looking to work for my company full-time and quit my full-time employment. How can I make this transition? I've been thinking about for some time now. Can you share your story?
If business is already doing good even when you're only managing it on the side, then I think it stands a good chance of thriving when you give it your full time attention. I've read a number of inspiring stories from successful business owners who didn't have formal business education but followed their intuition and made it. But still, before you take the plunge, be prepared for the worst. Have enough savings to get you through at least a couple of years just in case things don't go as planned.
I'm a risk-taker by choice and quit my teaching job to run my web development business (I already had repeat clients), but I only took the leap back then because I was single and didn't have any kids. That said, I only risk what I can afford to lose. If my child's future would be at stake because of any possible losses, I'd really mull it over some more.
I like what Michael has commented. There is but one thing that we need to watch out for. Jobs are getting commoditized and with churns and restructing further agravated by job losses, you should be prepared to be self employed. You could be forced into the situation and it is much better to make the transition on your own, as long as you fit the criteria he has described.
You must be very disciplined, once you become your own business owner you might just think you have all the time in the world. You must set your own hours and stick to it, a lot of people tend to get lazy such as wake up late or push things to the side than half the day is gone. You must run your own business as if you own your own McDonald's. Rain, snow, someone died, or whatever happens your still open, hope this helps.
A thousand miles begin with a single step. Do it step by step with focus on your expertise.
Yes! I have had the good fortune of being in my own business for 43 years. I am not getting rich, but I have stuck to what is closest to my heart.
I have always made sure that I had a little cushion for the ups and downs (there have been many).
Fortunately, because being in your own business is always a risk I have learned to keep focussed. I never lost hope. That is the key! Always know that you will succeed and don't ever lose sight of it.
Advertise...there are many free sites out there. Tell all your friends that you are making a transition. Join network groups that are related to your field. Keep a logue of your progress to find out what marketing strategies are affective and discard the ones that are not. Visualize yourself 5 years from now.Do something every day to move you towards your goal.
Hope that this has helped.
What does your company provide? Do you have enough finances stashed away that allows you to sustain your lifestyle until your company makes a profit? If you have been thinking about it and your intuition tells you it's time, you need to run with it because you'll always wonder when the right time will be. There's never a "good time" to do so; you simply do it.
When I lost my job at a major newspaper in 2009, I decided to go into business on my own as a freelancer. It has given me the freedom I've desired in that I choose when, where and what I want to work on. It was far from easy, but it's been a journey that has strengthened me in so many facets.
I worked for a Drs office and started my own company Baby Dimensions in 2007. It took me 4 years to quit the Dr. and pour myself into my business, it was hard but I don't regret doing it. that was the only want to do what Is wanted to do
In my experiences One should quit full time employment when income of part time (your company) exceeds the income of full time job.
The only way to learn swimming is to jump into the deep end. Just quit and start on your own.
I made the decision to be an Independent Meeting/Event Planner after finding myself in the "job transition" stage for the 3rd time since 2007. I have a big network and was always meeting with people to increase that network. Likewise, I am also happy to meet with those in similar situations...you reap what you sow! My first year was a crazy success and allowed me to work on so many different meetings and events and also allowed for some great travel experiences. I did not think I was going to be so busy, but am so very grateful and blessed for my success.
I don't know what business you are going into, but my favorite saying is "nothing ventured, nothing gained". I am the happiest I have been in a long time as my own boss and in charge of my own destiny. I encourage you to take the leap. I really don't think you will regret it.!