Today I’m sharing three tips on how to leave your nine to five job and started an online business. It’s the exact same strategies that I employed when I first started.
Here are the three tips I give people when it comes to quitting their nine to five and launching their own business.
Number ONE, do not just quit your job…
I know that it’s not what you want to hear. Hey, you’re here because you want to know my tips on how to LEAVE your nine to five, right?
But hear me out. I do not want you to experience the same thing I did.
When I quit my job, I simply had the idea that I wanted to leave. I wanted to start a new life, a new career, and I wanted to do that 100%. It was a Monday when I got the idea. On Wednesday, just two days later, I handed in my resignation.
And I left the company only two weeks after that. That was very, very abrupt. And it was what I needed at the time.
However, it presented me with some challenges, both financially and identically. Why identically, you might ask? Because I crashed and got really depressed after what felt like blowing up my whole career.
The identity of who I was (or who I thought I was), what I was good at and all of that. Gone. In just a matter of days.
So that is why oftentimes I do not recommend just cutting ties and leaving from one day to the other.
Instead, here is what I recommend, if you have a job today, try to decrease the hours that you work. Go from a 100% workweek down to 75% or 50%, whatever is possible and available to you.
Because here is the thing. Number two: you might have to supplement your new career.
If you are starting an online coaching business, a Shopify shop or an online store, whatever it is that you are starting. In the beginning, more often than not, you might not be able to replace your old salary with your new career’s income from day one. It might take some time depending on your background and all the pre-work you might have done for your business.
And that’s fine. I honestly think it’s okay. It’s to be expected.
I think it’s a good thing that it takes a little bit of time because you’re simply laying the foundation for the future.
And because it might take you some time, you don’t just want to end up being completely broke and out of money when maybe you want or need to invest a little bit in your business.
That’s why supplementing your new career can be a good option.
What I did at the time of starting my business, was that I got a job as hired staff, joining a work pool, working in different warehouses, driving forklifts and doing very basic warehousing stuff. It’s something that I have a background in, and I’m good at it and I actually quite enjoy it. So it was easy for me. It was easy to do that a couple of days a week only to supplement my income so that I could stay afloat.
It’s difficult to focus on building your own business and giving it time if you don’t know if you can put food on the table the next day.
So by doing this, I took some of the stress and the pressure off of my new career.
I was able to be more playful, have more fun, experiment and build for the long run.
Cause here’s the truth as I know it. If you’re running your own or starting your own business, please do it for yourself because YOU want it. Go for it and be in it for the long run for the long game.
But if you’re just looking to get quick money, I would actually suggest going somewhere where you receive a paycheck.
Because when you’re starting your own business, there is this lag time before you actually start making a lot of money. That’s my personal experience. It’s the experience I’ve had in my own business, and I’ve seen it with the people that I have been supporting in starting and running their own businesses. Which is why I wanted to share this with you.
Here’s my work/life balance calculation to help me keep my sanity; There’s seven days in a week, we can’t divide the days in a week evenly. So this is how I divide it.
So if working for someone else to help supplement my income, I make sure that I only work three days per week, leaving me four days every week to do the things I need to do for my own business and/or for personal enjoyments.
In that way, even if sometimes I’m going to a job I don’t love. It’s not going to be overwhelming. Because I’ll always have four days when I can do what I want to do.
A small “hack” that I use.
Lastly, and this is crucial if you want to launch your own business…
Number 3. Know your numbers.
I’m talking about knowing how much you need to make in order to make things go around. And I say; focus on the bare minimum to begin with. At least you need to meet your minimum financial requirement.
Here’s some questions you can ask yourself:
What is it that you can totally eliminate if you had to?
What are the nice to have and what are the needs to have?
You need to know how much money you need to generate to reach your bare minimum. Knowing THAT will help you navigate towards how much extra work you have to do. How many hours or days you have to work at your old place or somewhere else, WHILE you’re building your business, or how much money is it that your business needs to generate in order for you to reach your minimum requirement.
Once you have figured out your bare minimum. You can play around with the numbers and see what it takes to get to your DESIRED level, right?
Your next financial level can be an astronomically high number if you wish.
I like to keep them quite realistic in terms of what I think is realistic for me in the timeframe that I set in order to take doable actions.
These are my three ideas on how to quit your nine to five and possibly start your own business.
If this resonated with you, there’s still so much more for me to share around this topic, feel free to reach out to me, or leave a comment.