How To Quit My Job And Start My Own Business

1. Save - The First Step to Quitting Your Job and Starting Your Own Business
2. Strategize - Making Smart Decisions for Your Business Transition
3. Start - Overcoming Paralysis and Taking the Leap
4. FAQ

Save - The First Step to Quitting Your Job and Starting Your Own Business

So, the first s, the first s is save. When you're thinking about putting your job and starting your own business, start saving, okay? You want to hope for the best, of course. But prepare for the worst. Have you heard that line? "Hope for the best, prepare for the worst." Because the fact of the matter is as an entrepreneur, income is like this. Okay? When you're working a job, income is a steady line. You're always making that same amount of money per month.

Strategize - Making Smart Decisions for Your Business Transition

The second s is strategize. Part of strategy for running your own business is you want to make at least 50% more than what you're making at your job. Okay? Because once again, entrepreneurship has highs and lows. And the tides can shift, the amount of money you're making.

Start - Overcoming Paralysis and Taking the Leap

Third S. Third S stands for start. And this is probably the most important thing, is what's funny is after I decided I was going quit my job, I actually decided that month at June 2012. After I had that horrible conversation with my boss where he said, "Or what?" I had decided that I'm going to quit.

FAQ

Q: What is the first step mentioned in the advice for quitting a job and starting your own business?
A: The first step mentioned is to save money.
Q: What is the importance of saving money when transitioning to entrepreneurship?
A: When transitioning to entrepreneurship, saving money is important to prepare for unpredictable income fluctuations.
Q: What is the suggested percentage increase in income when transitioning from a job to running your own business?
A: The advice suggests making at least 50% more than what you were making at your job.
Q: What does the 'S' in strategize stand for in the context of preparing for business transition?
A: In the context of the business transition advice, the 'S' in strategize stands for making smart decisions.
Q: Why is it advised to make at least 50% more income than your job income when starting your own business?
A: Making 50% more income than your job income is advised to cushion the effects of income fluctuations in entrepreneurship.
Q: What is the most important thing to do after deciding to quit a job and start a business?
A: The advice emphasizes that the most important thing is to take action and start the journey of entrepreneurship.