Welcome! How do you know when to quit your day job? If you’ve ever considered entrepreneurship, then you’ve been faced with this question. It’s one that requires careful thought, soul-searching, and planning. After all, making this transition most likely means leaving a steady paycheck and benefits for a period of uncertainty. Let’s talk about those challenges.
What you’ll hear in this episode:
Tips in preparing for this transition: Try to get rid of all your debt Save a year’s worth of living expenses Follow a business plan Create a personal financial plan Have a business financial plan Consider starting as an entrepreneur in a part-time capacity Think about new skills and network connections that might be helpful Consider finding a mentor Remember, there will never be a perfect time and a perfect situation to make this transition into entrepreneurship. The goal is to be successful in your endeavor. Good luck!