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With more and more opportunities to become an entrepreneur and a low barrier to entry into online business, it can be a struggle to figure out the right time to leave your 9-5 job. In today’s episode, we chat about how you can prepare yourself, and some of the milestones to hit before handing in that resignation letter!
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Key Insights
- Understanding exactly what it will take to be safe in quitting your job
- Create a “Runway” to understand how much time you will have to replace your income
- Realize that it’s still OK to continue working, ,while you build your business. There is no rule to when or IF you quit your jb
Timestamps
- [00:18] – Welcome
- [03:10] – Mitigating risk
- [06:02] – Understanding the reality
- [08:00] – Safety
- [10:17] – Planning your expenses
- [11:31] – Hating your job does not necessarily mean you should open a business
- [14:18] – Oftentimes, your job can actually give you experience and tools needed to become an entrepreneur
- [20:49] – Creating a “Runway”
- [26:28] – Milestones
- [28:35] – Action Items
Resources Mentioned
- Tom’s FB Post on Quitting Your Job
- Show 3 – Leaving Your Job & Becoming a Full Time Entrepreneur
- Show 9 – Finding Your Freedom Number
- Show 19 – 7 Mistakes to Avoid When Starting Your Business
- Leave Us a Review on iTunes
- Lifestyle Builders Incubator - Get the training, mentorship, and community support to launch your product or service.
- Apply For Coaching - Schedule a free discovery call with Tom to see if coaching can help take your business to the next level.
Actions to Take
- Spend some time figuring out your Runway
- Thinking of leaving your job? Share your “quit” date with us for some public accountability!
