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5 Things To Consider While Quitting Job And Starting Your Own Business

Leaving a job and starting own business is a tough decision but it pays off. It is an acknowledged fact that chances of success of business after a job are far greater than one can expect. However, the transformation is not easy, it requires keen observation, judgment, courage and strong willpower to lead. If you have done this successfully it will prove a great feat for you.  

Getting a good job can be a success but ending with doing the job is in fact not a success, because success is when you became your own boss. While thinking of starting business certain ambiguities caught one’s mind like how to get the business idea? And what if you failed to get earning from the business for a long time?

Here are five tips that will help to get you safe passage and lend you in the world of entrepreneurship.

  • Observe how your boss is managing human resource and other business aspects.

Firstly, at the beginning while continuing job, you must have intention and clear idea to develop your business. You should keenly observe things and petty aspects of your job that will help you developing your business in future. For instance, you must understand work process and learn from your boss, how to maintain business accounts, how to deal with people at work and how to expand business.   

  • Don’t leave job unless you start earning from your business.

Secondly, you must start a business while doing a job at the same time. Leaving job while your business is not developed is recipe for disaster and can land you in troubles and depression. It will be disappointing, not to getting the sum of money at the end of the month, that was otherwise dispersed in the form of salary. So, develop business while doing the job at least when you start earning from business equal to your salary.

  • Start your business in the area of your expertise.

Thirdly, it is important to start a business in the area of your expertise. So, what are your areas of expertise? The answer is the areas or sector in which you are doing your job. For instance, if you are doing the job of a restaurant manager you should forget to start textile printing setup. Be specific that your expertise is in the hospitality industry or in setting up a food business if you are a restaurant worker.       

  • From where the business idea will come? It is in the job you are currently doing.

Fourthly, the question of business idea bothers almost everybody. But the answer to the question from where the business idea will come is simple? It will come from the job you are doing right now. Look around while on your workplace it is replete with business ideas.  

  • Surround yourself with people who have already done this.

Finally, experience comes with a wrong decision, hence it is better to learn from other’s experience instead of doing wrong that may incur some loss. Bear in mind that Seeking advice from others is tested formula to cure most of the ailments that are expected to emerge. Do not do things blindly, discuss and share your proposed plans and get suggestion from people who have already undergo this transformation.  

Leaving a job and starting a business is a risky task, but one cannot achieve worthwhile without taking a risk, as Paulo Coelho says “Be brave take risks, nothing can substitute experience”

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