You’ve been thinking about it for a while now actually. Mentally, you checked out a long time ago. In fact, you spend most of your waking minutes fantasizing about the very moment you walk out of the office for good. It’s a momentous occasion, everyone is crying and your boss is begging you to stay. They regret not valuing you as much as they should’ve but oh well, their loss. All they can do is bite the dust as you walk straight out of the office (cue: hair flip) into a brighter, wealthier, most amazing future ever…
End scene. Now let’s get back to reality. Stay with me.
So you officially decided to quit…for the 37th time this month. Yet for some reason, you haven’t worked up the courage to actually slip your two week notice in. You’re terrified about leaving because you have no idea when it will be the right moment or if it’s the right decision.
Indecision before quitting a job is natural, but, chances are if you’re reading this post right now you’re probably sure you want to quit your job. However, I want to take a moment right now to outline the 3 things you absolutely need before you fully quit.
Let’s be real- quitting your job is not going to be this luxurious, dramatic event but you’ll know if you’re on the right track if you do this stuff first. Take it from a boss (me) who quit her job almost ten years ago and never looked back…
The following questions may seem obvious but you should be absolutely certain before you quit your job. Do not be in a rush without a plan. Figure out the answer to these questions: do I want to start a business/become a freelancer or do I just want to find a new job? Do I hate the 9-5 schedule or do I hate where I work? If I did start a business, what kind of services or products would I sell?
There are lots of factors contributing to unhappiness in the workplace. Sometimes it’s a culture clash or you may not vibe with your co-workers. Whatever it is, figure out what is truly ruffling your feathers: find your passion and draft up a mini business plan. Do whatever you need to do to give yourself a clear, confident mind before quitting. Being a business owner or freelancer is not for everyone and may even intensify your working woes instead of solving them.
A Detailed Financial Plan.
Once you’ve established that quitting your job to start a business is the path for you, you can refocus your energy into finances. Yep, numbers. First you need to outline your monthly spending. Put it all on paper so your eyeballs can really see just how much is coming out of your pockets each month. You can take this moment to cut out all the unnecessary stuff like subscriptions or memberships you never use to save money. In fact, when I quit, I purposely decided not to buy a new TV because it was also around the time I was moving into a new apartment. Fastforward 9 years later, I still do not own a TV and I do not miss it one bit. Can somebody say Netflix, laptop and phone? Hello!
After you decided what all your necessary costs are, make sure you have at least six months saved up to cover it all. Don’t fall for these glamorous stories people share where they quit with $1 dollar in their bank account – that’s not real unless you got cash flow from the bank of mom and pops. Otherwise, it’s advised to set a minimum dollar amount needed before quitting because you’ll have security and you won’t use money as an excuse to stop you from reaching your new career goals.
You’ll probably be bringing in steady revenue again before then, but you can sleep well at night knowing you won’t be struggling to pay your bills.
An Abundance Mindset.
Leaving work is a liberating feeling. On your last day, you’ll be so happy about never having to look at a work memo or deal with your boss. That’s great – but try to keep that up while you get your business off the ground. You’re no longer a victim, you’re in the driver’s seat – you’re in charge of your destiny and the sky’s the limit. Keeping this frame of mind can only lead to success for your business. An abundance mindset and consistent action is what helped me push through the rough times when money was low and random job offers screaming 6 figure salaries tried to tempt me to succumb to the 9-5 life.
Bonus: Secured Income.
You get extra points if you’ve been making moves behind the scenes while working to secure a couple clients or customers before you officially launch. Hats off to you for being a go-getter. There’s nothing wrong with figuring it out as you go, but lending yourself extra security is never a bad thing.
Once you have these three (or four) things, your business will be starting with a power foot forward and that’s the best you can do for yourself and your pockets. So ladies, get to it. With half of 2019 already over, where do you want to see yourself as we enter 2020? If self-employment and being your own boss is at the top of your list, the start planning today. Figure how much you need in the bank account, find ways to cut unnecessary spending, secure a few clients before giving your 2 weeks notice. Be so strong in your decision to create your path and never look back. No it won’t be easy. But for me it was so worth it.
To living without regrets,
P.S. Looking for more support? Join my super cool, free Facebook group where boss ladies connect to talk through tax/business questions and concerns. It’s lit! I’ll pop in there from time to time (translation: often!).
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