A reader ask this should I quit my 9 to 5 job that pays well and start my own business? An interesting question to answer for today. “Hi Grace, I am always visiting InvestmentTotal.Com since 2014. I am a sales manager in a appliance shopping center in USA. I am planning to start my own business since I have save enough money for the capital required. Is this a good idea or not? Thanks for your response. I am tired in working for someone else, I want to become free and give my spouse and kids a quality time.”From: Henry DW
eMail Message: April 24, 2015
Quit My 9 to 5 or Not?
Dear Henry,Me and my husband were very glad for trusting us in giving a good advice when it comes to investing, personal finance, business and entrepreneurship. Anyway, your decision is a great decision. But, you have to face the different consequences and make sure you analyzed the risks in starting your own business.
Consequences if You Quit Your Job that Pays Well
If your business won’t be successful, how can you start again? Will you look for another job? What would happen to your family if you didn’t make any profits within 3 or 5 months?
Advice: Before getting into business, have enough emergency funds for your whole family. Insure yourself, buy health insurance and life insurance. Emergency funds and insurance has a great role just in case something happen to you and to your business.
Analyze the Risks in Starting a Business
Not all new business get succeed. All you need to do is to analyze the risk accompanied in your business, prepare yourself in taking risk. But to give you courage, this is what you should always remember; “Take risk, if you win you will be happy, if you lose, you will be wise”.
Entrepreneur Advice: A new business is more riskier than a franchising. Why not take a look for business franchising opportunities in your area. Study which businesses or company that has a great or high quality business system. Besides, business franchising didn’t require lot of works compare to starting your own.
Answer to the Question: Should I Quit My 9 to 5 Job and Start a Business?
It is still be wise if you stay working for someone else as an employee while starting a business. When your business became stabled and the money always comes in any season, rainy days or sunny days. You can quit your job and focus yourself in your business.
I do hope you learned something from our advice. God bless your entrepreneurial journey. Please add some opinions now related to “should I quit my 9 to 5 job that pays well“. Have a nice day.