It’s smart to hold onto your job whilst you build your business .
Some influencers might convince you to do otherwise but I am not going to allow you to cripple yourself .
I know you want to be independent and financially free .
You can become financially independent and free if you go about it in the right way .
It is not smart to quit your job without having a few streams of income to sustain you .
Why just stop working without having any other sources of income ?
Don’t jeopardize your well being to start a business .
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Make your new business venture a priority but don’t spend your entire savings doing it .
If you are smart and strategic you would hold onto your job until such a day comes when you have established yourself .
Starting your own business is rewarding but it will take some time before you benefit .
Don’t Make the mistake of wiping out your savings building your business.
Therefore you have to strike a balance.
All this time you have had the job you should have been paying attention to things like
1 Managing people
2 payroll tax health insurance employee benefits
3 Stock taking and inventory
4 vacation days and sick days
5 The accounts department
6 Human resources
Do you realize that you are travelling a path that very few are willing to take ?
Give yourself a pat on the back for that .
Being an Entrepreneur will cause you to step outside of your comfort zone .
On to my next point .
When the bank sees you banking money consistently they will start calling and offering you loans .
The reason why you are able to do that is because you are banking money out of your pay check .
Keep in mind that It can take years to build a business and you are going to need to sustain yourself.
People make the mistake of starting a business and quitting their job without a financial cushion and multiple streams of income .
When Daymond John founded Fubu he held on to his job at lobster pot .
He even closed fubu down a few times due to a lack of funding .
It makes absolutely no sense depleting your savings whilst you waite for your business to start profiting.
Keep your job ,start a side hustle until your business generates enough income to sustain you .
You have to be strategic out here .
There is no reason why you should dig a hole when it can be avoided.
Having money to invest and investing it is going to help your brand go faster .
If you don’t have the income to invest you will have to raise capital .
I advocate using other peoples money and a very minimum of yours.
With that being said I love that you have taken the initiative to start your own business.
It is clear to me that you want the freedom and control.
Conclusion
Entrepreneurship is a journey not a destinations. We have to be able to survive the vicissitudes of the economy . It takes a lot to building a business but it’s not complicated . You have to be open minded and proactive because people and trends are always changing .
Comment down below and let me hear what you have to say .