Is this the right time to leave your Job and start your own business

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.