One question comes up a lot in my discussions with people who are planning to launch their own business. "Should I quit my job and go for my dream full time or is it half-hearted to work on my new business just a couple of days a week or in the evenings?"
Link: The best times in your life to start a business
Based on the conversations I've had with thousands of entrepreneurs, my answer to that question would be: start part-time if you can. It seems counter-intuitive I know, especially when you want to put everything behind your new idea. But I've found that in most cases those who are more successful tend to be the ones who start part-time.
Quitting a job puts fledgling entrepreneurs under inordinate pressure (both financial and emotional) to make it work - and because of that they can begin making bad choices. They endure bad clients, take on debt that they shouldn't, and collaborate with business partners that they don't get on with but overlook that fact because they just need the help.
Someone who starts pursuing their dream part-time can ease themselves into their new endeavour, ensure they have enough finance to cover their basic costs and make better decisions. Emotionally this approach is actually a great way of tricking the mind into starting a business because it's not a big, terrifying leap across a chasm. There are many exceptions, of course, but I've found that leaving a regular job to start a new business is too much of a shock for most people. Many just need to get their head around the idea of running a business first and start breaking a few of their old habits. Taking this approach also allows them a chance to see whether they actually enjoy it!
Quitting a job puts fledgling entrepreneurs under inordinate pressure (both financial and emotional) to make it work - and because of that they can begin making bad choices. They endure bad clients, take on debt that they shouldn't, and collaborate with business partners that they don't get on with but overlook that fact because they just need the help.
Someone who starts pursuing their dream part-time can ease themselves into their new endeavour, ensure they have enough finance to cover their basic costs and make better decisions. Emotionally this approach is actually a great way of tricking the mind into starting a business because it's not a big, terrifying leap across a chasm. There are many exceptions, of course, but I've found that leaving a regular job to start a new business is too much of a shock for most people. Many just need to get their head around the idea of running a business first and start breaking a few of their old habits. Taking this approach also allows them a chance to see whether they actually enjoy it!
If you are asking yourself this question, my advice is to keep the momentum on your dream - do something every day, or even just every week, to move things along, no matter how small. Don't give yourself too much pressure. The idea is to stay focused on your plans but equally to not give yourself a hard time about not taking massive action.
Start small and build from there. It's amazing how even a small effort can make a big difference and before you know it you'll have left that job and your old habits behind for work that really matters to you.
Start small and build from there. It's amazing how even a small effort can make a big difference and before you know it you'll have left that job and your old habits behind for work that really matters to you.
P.S. As you may know from my previous posts, I've been doing some work with Escape the City recently, a fantastic community for corporate professionals who want to 'do something different'. The Esc team are on a mission to liberate talented people from unfulfilling corporate jobs and if you want some encouragement and great practical guidance on starting a business - or pursuing a new career - this is one of the best places to start.
The Esc team has pulled together some excellent resources and opportunities to help you do something different with your life - and you can take that one small step towards your new business TODAY by visiting http://escapethecity.org and subscribing.
For some real inspiration check out the story of Esc's founders Dom Jackman and Rob Symington, as well as members of their 90,000+ community who have broken away from unfulfilling corporate jobs to do work that means something to them.
The Esc team has pulled together some excellent resources and opportunities to help you do something different with your life - and you can take that one small step towards your new business TODAY by visiting http://escapethecity.org and subscribing.
For some real inspiration check out the story of Esc's founders Dom Jackman and Rob Symington, as well as members of their 90,000+ community who have broken away from unfulfilling corporate jobs to do work that means something to them.
As the founders say themselves: "Don’t over-analyse (but don’t over-commit either) – just take the first few logical steps and see what happens. Do this from the safety (and tedium?) of your job. See what happens."
The Esc team has written an ebook 'How to find the work you love' and developed a related package in collaboration with Less Ordinary Living and Work is not a Job.
It's got structure, support and inspiration and is designed to walk you through each step of kick-starting your career and finding your next challenge. Take a look here: http://www.startsomethingyoulove.com
It's got structure, support and inspiration and is designed to walk you through each step of kick-starting your career and finding your next challenge. Take a look here: http://www.startsomethingyoulove.com
For more great tools, tips and advice on starting a new business or finding work that matters to you visit:
http://www.escapethecity.org
http://blog.escapethecity.org
http://www.facebook.com/EscapetheCity
http://twitter.com/escthecity
http://www.escapethecity.org
http://blog.escapethecity.org
http://www.facebook.com/EscapetheCity
http://twitter.com/escthecity
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