before you quit your job – ask yourself these 5 things…

by theEmother | May 12, 2014 | build a Mother of a Business, business ideas & thinking, Buy a Mother of a Business, exit strategy, MEinc

“It’s no mystery that most people are unsatisfied in their jobs. Statistics show that more than 70% of the U.S. workforce is unhappy with their current jobs.

Why is this happening in this great and free country? Don’t we ALL have more resources and opportunity than any other place on Earth? If so, why are we all sitting around complaining about our miserable jobs? There are many answers to this question of course, but I think that the most pressing ones are:

We have allowed ourselves to become dependent on easy money.

If you want to quit your job, and Lord knows most of us do, then you really need to ask yourself these questions. The key here is being honest with yourself. Failing to answer these questions completely honestly may result in putting yourself in a worse position.

Before You Quit Your Job – Ask Yourself These 5 Things – Dumb Little Man”

I rephrase the point slightly and say “we have allowed ourselves to become dependent on ‘easier’ money”.
There’s no such thing as a free lunch.
There is no ‘easy’ fix to this one.
On top of these, quitting your job and looking to buy/start a business takes these questions to a whole other level…

1. Why do I want to quit?

2. What do I want to do instead?

3. Can I afford to quit?

4. Will I be happy working for someone else?

5. Why don’t I like my job.

Let’s go through each one:

1. If answers like “be my own boss” feature, then starting or buying a business do not necessarily address this one. Why?

Because, regardless of whether running your own business or not, you are always answerable to someone. Whether it be your customers, suppliers, employees or bank, even your family. You can never sail through and expect to not be called to task by someone.

2. If business seriously features as an option, great. Know exactly what you’re prepared to stick your neck out for.

You can’t plan every little thing and you won’t ever feel as secure as you may wish to, but making the decision to be a business owner rests entirely on your shoulders because if you don’t believe you can give it a red hot crack, backing yourself in the process … then save the time, effort, energy, money and grief you’re about to invest and park it somewhere else. Backing yourself is the biggest thing for you to do to be a business owner.

3. Start ups notoriously take 2 years to turn a profit. If you don’t have a nest egg sitting neatly under your mattress, then don’t do it. You can of course go completely the other way and think well I have to make it work otherwise I don’t eat! Whichever works for you is fine. Just understand that the regular pay packet will become a thing of the past for a while. If you’re not OK with this, then maybe it’s time to reconsider.

4. Why do that at all? be your own boss and buy a business!

At least that way, you walk straight into revenue. So the elusive pay is not too far away.

Of course deciding what to buy to the hardest part. Waiting to find the perfect business will have you waiting a very long time. There is no such thing. That said find one you almost comfortable with, and work it hard, get it into shape and all should work out in the end. Well that’s the plan at least anyway.

5. If you’ve got issues you have not addressed within a paid environment, they are only going to manifest larger when the stress of starting/buying a business kicks in. Deal with whatever has not worked for you in the past by exploring to the ways to make it work and then take these strategies into the business with you. Otherwise, the common denominator, the walking disaster that is you is about to take over the business they has the potential to implode because you’re not prepped enough to handle what is about to be thrown at you.

Good luck!