If you are downsized or made redundant, entrepreneurship can be your legitimate solution to fix your cash flow problems first and establish your business empire second – With scarce job opportunities that fit your resume and pay well today, you are left with limited choices.
However, if you are still in a good job that pays you well – regardless your passion for entrepreneurship – I suggest you not to quit your job just yet.
Let your job be your safety net
You should start a business while you are in the work force – Consider it a perk and a leverage that will help you enter entrepreneurship smoothly (and lower your risks, too.)
Some reason to justify the above:
- You still have the cash flow from your salary to fund your start up and your living expense while starting a new business.
- You can trial-and-error while still having a safety net in your job.
Choose your entrepreneurship path
Those who start a business while working 9-to-5 as an employee choose several paths: Weekend entrepreneurs (work on the start up on weekends), webpreneurs (build an online business), and part-time entrepreneurs (work before, in-between, or after your office hour.)
Whichever path you choose, when you are comfortable with your business and the cash flow from it, then you can start thinking about leaving your job.
I know I sound so conservative, but considering the unstable economy, despite the positive outlook, your cash flow can be disrupted at any given time.
One major drawback juggling between two different worlds
Starting a business while on employment has its own major drawback: You are tempted to stay in your job and run the business – Your justification: If everything goes this well, why bother quitting my job?
While your justification has valid ground, you might lose the opportunities your business can bring you – Something that can go viral and grow exponentially vs. your job safety. I, of course, choose the former than the latter.
My advice is this: Quit your job as soon as your business’ profit can take over your salary, and once you decide to quit, avoid returning to the workforce at all cost. I heard too many stories that people are giving up on entrepreneurship easily when things went against their way. Doing this is not only wasting your resources, it also loses you plenty of opportunities that money can’t buy.
Entrepreneurship is a journey – not the end. Perseverance and continuous learning will bring you to unimaginable riches – even in the midst of today’s recession.
Start a business using your office’s resource ;)
Image by edenpictures.