Giving up your Regular Day Job

Giving up your Day Job, Be your own Boss! worth it or not?

Giving up a steady job for a home business is a dauntless and risky move. But, it is one that all entrepreneurs will eventually have to take, if they are ever going to fulfill their ambitions of being truly successful. No home business can start without its usual risks and that applies to any entrepreneur when he leaves his regular employment. However the risks become calculated ones when you have the right idea, the finances, the right plan and the ability to put in your best efforts, and you could expect great rewards.

Starting your own business is the testing platform for your risk taking ability and if anyone tells you something else, ignore. Provided you quit when you are ready to commit to serious effort and do not expect the world to reward you for minimum effort, the process of handing in your notice shouldn't be too risky. Having your own business is all about taking calculated risks and taking the right decisions at the right time to reap in the profits later. Like many things in life, practice perfects your analytical abilities.

Giving up your job to start a home business can be difficult on a number of levels, despite the fact that it is fundamental to being an entrepreneur. Firstly, this is a painful personal decision to say farewell to old office colleagues and friends. This becomes even tougher when you have an overwhelming sense of loyalty and people tend to depend on you, you could feel really guilty and uneasy. Over and above this, quitting a job also means that your financial resources are drying up and this can be dangerous if you have to pay the bills and take care of people around you.

Overcoming these obstacles is difficult, and will require a great deal of thought and dedication. The decision to quit from your regular job must be taken sensibly and you ought to feel extremely confident about your business plan before you take this critical step. Never quit your 9 to 5 job before all your plans to start the new enterprise is in order including enough money saved up which would help in your day to day expenses till your home business takes off profitably. A partner can help you out in this time if he or she decides to foot all your bills.

You can expect loss in the first year, as is usual, and then if everything goes the way you have planned you could break even in the next couple of years. The fortunate ones start making money in year three. Is it hard starting a new home business?


Source: http://filipinoinvestors.blogspot.com