You may have a long list of reasons for wanting to quit your 9-to-5 job. Whether you want to follow your true passion in life or you simply want to be able to spend more time with your family while earning a living, the idea of running your own business is definitely appealing. Many have succeeded in their own ventures after quitting the corporate rate race. You can do the same but you need a solid course of action for the best chances of success.
Now that you’re still at work is actually the best time to prepare for the big leap. So, consider holding that thought of resigning from your job until you’ve done the following:
1. Start a reserve fund.
One of the things you can do right now while you still have steady employment is to save up for the time when you eventually start your own business. Earmark this fund as reserve cash for operating expenses. Even if you’ve obtained business funding or a loan, the truth is it will take some time before your business turns profitable so having additional money stocked away will help prevent interruptions to your business as you work to establish it and get clients/customers. It is recommended for any aspiring business owner to have at least 6 months worth of living expenses saved up to deal with unexpected circumstances.
2. Develop a business plan.
As with many things in life, it’s hard to successfully accomplish something without some sort of planning. With a business, you really need to think through what you’re getting into. A business plan is essentially a description of what you want to happen with your business (typically, three to five years from now) and what you intend to do to make that happen. Getting it all down to paper will force you to have a clear understanding of your business and what makes it unique as well as an understanding of the industry and the market you want to enter.
3. Study up and learn skills.
Study business management, marketing and all other areas relevant to your chosen industry. You don’t necessarily have to get an academic degree but there’s no substitute to having sound knowledge and training right from the start instead of venturing into your business blindly. It’s important to study concepts as well as gain practical skills such as Internet marketing strategies and using web-based tools that you can use in setting up your business and growing it.
There are many resources to learn how to start, manage and market a business. A good place to start your learning and training is to join an online affiliate community such as Wealthy Affiliate. You can try it out for free and see how this community of aspiring and experienced entrepreneurs can help you start on the road to being your own boss. It’s not just about personal coaching and motivational talk but an actual training program for those who want to start an online business and learn effective Internet marketing skills, which are crucial to today’s business.
4. Build your network.
View your present job as an opportunity to build a network of potential customers, suppliers, partners or even investors. Join networking events and participate in company events. You probably can’t wait to get out of your job but it’s important to be always professional to build a good reputation within your network. It’s also very important to become active in online social networks and social media, which are great platforms to promote your business.
5. Start setting up your website.
Creating a website is a process and you can start putting it together while you’re still employed so you have plenty of time to develop your brand and marketing message as well as hone your Internet marketing strategies. A good internet marketing training program includes free website and blog hosting, which allows budding business owners to put into practice what they learn from the program on how to set up a website, drive traffic to it and implement a conversion-friendly website design that will effectively engage visitors and make them returning customers.
In addition, you can also start writing articles for your company blog while you’re still employed. Once you start your business, you will most likely be focused on higher priority activities such as meeting with prospect clients so take advantage of the time you have now to write up future blog posts so you have a few months’ worth of articles ready to go live when you launch your website.
These are just some of the best ways to prepare yourself before you strike out on your own. It is an exciting venture but remember to be patient. Instead of completely loathing your current employment, find ways to make the most of it to benefit your future plans.