Quit Your Own Business

If you are trying to get your own business off the ground while still working away at a regular nine-to-five job, you'll no doubt be desperate to quit your day job as soon as possible. While it can be extremely tempting to get focusing entirely on your new business, quitting your day job at the right time is absolutely essential. Many people make the grave mistake of leaving too early, prompted by unrealistic optimism or a foolhardy willingness to take a major risk. Before you do decide to quit your day job and commit yourself fully to your own business venture, however, you should consider the following factors.

Your Responsibilities

If you are living on your own, single and without children, then you are already better equipped to leave your regular job and make a full commitment to jumpstarting your own business than someone who has to worry about family and other major responsibilities. At least if you only have to worry about yourself, then you can take somewhat more of a risk. Also, the amount of money you will need to have saved up in case things don't work out as quickly or as well as you would like is not as great.

You should also consider your current financial situation. Always consider the worst case scenario such as your business venture taking much longer to yield a decent return than you expected or, worse still, not even working out at all. As a contingency plan, you should ideally have saved up about six months of living costs to take care of financial and personal