The Right Time to Leave your Job and Startup
Aspire to be a
successful entrepreneur? But perplexed as to whether it’s the right time to
quit your job and startup. Honestly, there is never gonna be a “right time”, if
you want to achieve anything you need to be at it. But that doesn’t mean you
right away give up your job because you had enough, instead weigh out all the
pros and cons of doing so and most importantly you need proper guidance while making
that decision.
Starting your
startup is not an easy task. You need commitment, zeal and passion to achieve
your targets and for that even 24 hours in a day may also seem less to you. So,
before you take that shot in the dark, make sure that you consider the below
mentioned points and then decide whether it’s the right time for you to quit
the job and start your business.
1) Finance:
The most important
thing that one should consider while setting their startup is "Finance”.
While setting up your startup it is essential to have enough finance; so that
in the initial years when the company is not earning enough profits or no
profits then also you can manage your fixed expenses.
Every other day a
new startup is set up and every other day a startup is wind up because of the
shortage of funds. To avoid your startup fall in the latter category make sure
that you have enough savings and you dedicatedly work towards raising working
capital for a startup.
2) Timing:
Before taking that
plunge and quitting your job to get your startup up and running timing is
important. Proper timing helps your venture reach sky heights even when the
market is crowded and busy.
You need to access
the market conditions carefully before launching your startup. If your startup
is a product based startup then waiting for some active users before actually
entering the market can be beneficial for your startup. Whereas, if your
startup is an operation intensive startup then entering in the market at the
earliest will be of great help.
3) Active Network:
An active and good
network will help you build your startup fast and that too at a relatively
lower cost. While starting your venture you need office space, devices,
furniture, fixtures and fittings, college students as interns and others on an
effective budget and an active network of people will help you get
that.
4) Efficient Team:
For the success of
any venture, an efficient team is a must. Having an expert and proficient team
members in your startup will help your venture reach prominent heights as they
will make the best use of their knowledge and skills for the benefit of the
venture. So, while choosing your team members ensure that you have backed the
best from the rest.
Starting your
venture won't be easy; it’s a challenging and risky thing from the day you
start thinking about it. One biggest risk you got to take is in deciding whether
it’s the right time to leave your job or not. The above-mentioned points will
help you take that decision rationally. But before quitting your job and
starting your business make sure you have done your research, looked upon your
funding option and prepare your business plan. Check out Things you need to do
before quitting your job to start your company to ensure that you have a
full-proof plan for your startup.
Our Experts can provide you with guidance that will help your startup reach sky heights as we assist ventures to create an integrated communication strategy with maximum ROI.
