Hey Boss! So you’ve come up with a winning, profitable business idea and you’re ready to go to work for yourself. Taking the jump from 9-5 employee to round-the-clock business owner can be a little intimidating, but it’s one of the most rewarding things you can do for yourself and for your family. The key to quitting your full-time job is making sure everything you need is in place beforehand. Start with these five things and you’ll be ahead of the game from day one.
Aim to have at least six months of basic living expenses in the bank before quitting your full-time job. This financial cushion will give you peace of mind while you get started and that sense of security will go a long way toward easing the transition.
Spend evenings and weekends building a network of fellow business owners and potential clients. This step will ensure a solid foundation of peers and potential clients when you finally hit the ground running.
Even if you’re not looking for bank or investor financing, have a business plan in place.Don’t think of a fifty-page document; instead opt for a one to five page strategic plan that keeps you focused, on track, and avoids scope creep.
Similar to step three, have a marketing plan in place. While a marketing plan can be part of your business plan, it’s still its own entity. A marketing plan tells you who your target market is, the best ways to let them know what you’re selling, and the price points they’re willing to pay.
Have a prayer life, a goals plan, and a process. Trust that the plan God has for your life will play out His way, but plan to do your part as well. Then create a process that streamlines the way your business will run, while leaving room for trial, error, and growth.
Taking the jump with a business plan and a prayer plan can be the most challenging, rewarding, joyful thing you’ve ever done. Make sure you have the aforementioned steps checked off and get ready to start and grow a successful business you can be proud of.