Thursday, November 30, 2023

The Pros and Cons of Leaving Your 9-to-5 Job For a Business.

February 25, 2018 by  
Filed under Business, Opinion, Weekly Columns

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( There are many good reasons to keep your job when you are working on your business plan. There are also reasons why quitting your job makes sense if you are willing to launch your own business. If you can leave your job and focus on your business without money-related obstacles, then there’s nothing better than launching a business, but life doesn’t always show us what’s coming next. So if you’re planning to leave your 9 to 5 job to follow your passion for business, check these pros and cons of leaving the job and starting a business before you make a decision.

Why quitting your 9 to 5 job is a good idea

Time: The most valuable asset you earn by quitting your job is time. Once after you leave a job, you get time to focus on your business idea. You get plenty of time for execution and the process can get faster than you expect. Working full time and managing a new business on the weekends or late night not only affects your health, it also brings more stress than satisfaction.

Focus: When you focus on two things, the chances of failure are high. When you leave your job, you can easily train your mind to focus on only one thing and that’s your business. You will be away from all the things you deal with at your job and you will be able to use that energy on building your own business.

The Push: Pressure and fear push us to do more, especially in business. If you are someone who doesn’t want to be left behind in the business world, this fear will work as a fuel and you will do more to succeed. When you are working on your business idea and at the same time working full-time, you will likely take your startup as a hobby which you can sideline whenever the need arises. But when you see that your future completely depends on your business, you can’t just escape from it.

Learnings: When you jump into a business, you learn faster. Just like you can’t enjoy swimming by standing near a pool, you can’t learn the real lessons of business until you deep dive. Quitting your job can give you the opportunity to test the field. And there’s always an option to choose the proven track.

You can always take a back step: Of course, you do not want to go back to a job after launching your business, but we all know that time can change and anything can happen to your business. In such times, you can always come back to your current life where you can join some company, learn from your mistakes and prepare yourself better. But always make sure that this one should be your last option otherwise your professional life will become a mess and you’ll be considered a job hopper.

Why quitting your 9 to 5 job is a bad idea

Responsibilities: Responsibilities are good and no one should run away from responsibilities. But when your responsibilities turn out to be a burden it’s not something you’re going to enjoy. When you’re in a job, you can get financial stability or at least there’s a guarantee that you’ll get paid on a fixed date.

Risks: Business needs money and if you’re quitting your job, it means that you are building something from the ground, putting the money you have saved so far and waiting for the first client. It can take time but those office expenses and monthly bills won’t wait for your client’s cheque.

No mercy: Business is full of uncertainty. At your job, if your company doesn’t have a project, it is not going to fire you immediately. In a business, you will have to wait for clients and opportunities. You will have to make sure that the right people will come and join you, and there are chances that you’ll make mistakes. In your job, there are chances that even your big mistakes will be forgiven, but in the business world, a single mistake can change the direction of your company.

Self-control: When you are your own boss, chances are you will not be able to maintain the same enthusiasm after a week, month or a year. There will be no one to answer to, there will be no one to report to. Your own timings, your own style of work and there will be no supervisor to correct your mistakes. And if you’ll feel the need of a mentor, you will have to pay for it because nobody is going to help you just like how your seniors and colleagues do. Soon after leaving the job, maintaining the habit of working 9 to 5 for your own business is one of the toughest challenges.

Staff Writer; Corey Shaw

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