When starting a business, when is it time to quit your old job?

[Grant]

Starting a business requires a lot of money. Sometimes you may need to take out a loan to get the business started, and continue to work a day to day job to keep it going. But, when is the right time to quit your old job and focus on the business?

In my views on this, it's best to quit when your business starts to turn a profit, one that you could potentially live off of. Sometimes this could take a while, and sometimes it could be fast depending on how good your new business is.

When do you think is the best time?

 

[Good-Person]

Starting a business requires a lot of money. Sometimes you may need to take out a loan to get the business started, and continue to work a day to day job to keep it going. But, when is the right time to quit your old job and focus on the business?

In my views on this, it's best to quit when your business starts to turn a profit, one that you could potentially live off of. Sometimes this could take a while, and sometimes it could be fast depending on how good your new business is.

When do you think is the best time?

I do not think that it would be a great idea to quit your job until or unless your business becomes really stable and starts generating enough profits every months that would help you to sustain yourself.

 

[Busybee]

Once we break even and start making profits with less intervention, then is the time to quit our job and be a full time entrepreneur.

 

[Melanie M]

Starting a business requires a lot of money. Sometimes you may need to take out a loan to get the business started, and continue to work a day to day job to keep it going. But, when is the right time to quit your old job and focus on the business?

In my views on this, it's best to quit when your business starts to turn a profit, one that you could potentially live off of. Sometimes this could take a while, and sometimes it could be fast depending on how good your new business is.

When do you think is the best time?

As long as your job isn't interfering with the time you invest in the business, I would stick with the job, or at least hang onto it part-time.
You never know when a business might go under. This can happen at any time, so it just seems safer to keep the job while growing your business.
Now, if it's been 3-4 years and your business just keeps growing and succeeding, then you can think about slowly stepping back from your regular job and putting all of your time into the biz.

 

[rightminds]

There comes a time in running a successful business when one has to be readily available to monitor the running of the business. At this state it's required to quit ones job

 

[Shortie]

When it comes to starting your own business and you also have a paid job whilst you are building up that business, I would never advise someone to leave their main paid job for their business until the business they are building is pretty solid and is bringing them in an income that means they could safely leave the job they have.

I would always ensure that your business is going to succeed before you leave your old job otherwise you could end up with a failed business and a job that may not be able to take you back after you quit.

 

[Good-Person]

There comes a time in running a successful business when one has to be readily available to monitor the running of the business. At this state it's required to quit ones job

Well, majority of the people who start business after quitting a job may be utilising their personal finances or they may take a loan. They may be more concerned about their business and this is why it is really essential to monitor the business under all circumstances.

 

[Mostee501]

When starting a business especially when it's not fully funded, I think one should still hold on to the old job so that the income made from the old job can be use to also fund the new job.

 

[glitch]

Well, you never want to struggle. I would say that you want to be earning enough to live the life you currently have. So you could take a loss but most people can't afford it so I would say to wait until you are earning what you earn with your new venture.

 

[Neeta313]

In life, our goal is to keep progressing. You will know the right time, when the money you make from your business can pay you more than you earn and this is excluding the capital you set aside to reinvest and the certain percentage of profit you choose to save.

 

[Good-Person]

Well, you never want to struggle. I would say that you want to be earning enough to live the life you currently have. So you could take a loss but most people can't afford it so I would say to wait until you are earning what you earn with your new venture.

Struggling is a part of life. The fact of the matter remains that many successful people also struggle a lot when it comes to making money. In the end they are able to fulfil their dreams because they are able to manage money and they have the ability to make money.

 

[AruneBend]

You really need to make sure you get stable income these days it's kinda hard to find a new job no matter your skills and things like that so you need to make sure your going to be alright

 

[Heatman]

Starting a business requires a lot of money. Sometimes you may need to take out a loan to get the business started, and continue to work a day to day job to keep it going. But, when is the right time to quit your old job and focus on the business?

In my views on this, it's best to quit when your business starts to turn a profit, one that you could potentially live off of. Sometimes this could take a while, and sometimes it could be fast depending on how good your new business is.

When do you think is the best time?

If your job is still allowing you the time to run your business effectively, I don't see any reason why you should quit the job but also have it as another source of income while you run and manage your business at the same time.

 

[Nomad]

If you are attached to the business, it is really difficult to quit. That's what happened with my first business. Even though my business completely failed and I never moved office supplies to my home and closed the business entirely, I was still hoping for some miracles so that I could revive the business. I could never accept that I failed.

 

[deucher]

Of course, it is best to leave at the moment when the business is already profitable and you can not work. But as far as I'm concerned, you don't give all your strength to this activity. Your product may turn out not as good as you expected because you gave all your strength to work. As far as I'm concerned, it's better to take a risk and get fired right away to start a business. Of course, having a certain reserve of funds for living

 

[Good-Person]

Of course, it is best to leave at the moment when the business is already profitable and you can not work. But as far as I'm concerned, you don't give all your strength to this activity. Your product may turn out not as good as you expected because you gave all your strength to work. As far as I'm concerned, it's better to take a risk and get fired right away to start a business. Of course, having a certain reserve of funds for living

There are many people who would never quit their job until or unless their business becomes really profitable. The main issue is the fact that many people have to wait for a really long time until their business becomes profitable. Only then they could quite their job.

 

[Ja Sa Bong]

If I can keep my old job and operate my own business, I will take that chance but it's always a very slim chance you're going to be able to do it. This is because with your old job, you won't put enough time in your business. A new business need all the attention and time to pick up.

 

[Heatman]

Of course, it is best to leave at the moment when the business is already profitable and you can not work. But as far as I'm concerned, you don't give all your strength to this activity. Your product may turn out not as good as you expected because you gave all your strength to work. As far as I'm concerned, it's better to take a risk and get fired right away to start a business. Of course, having a certain reserve of funds for living

Timing is everything when it comes to how you do things in your business and with your work too. Before you leave your job, you should make sure that you're doing it at the right time because if you do it at the wrong time, it's going to affect both you and your business in a big negative way.

 

[Henrywrites]

I will consider stopping at my old job when I am sure that we have now gotten to the stage where my personal business is established. There is no sense in trying to quit the old job when I am not sure of how strong the foundation of my new business is. I wouldn't want to place a lot of pressure on the new business at all.

 

[Heatman]

I will consider stopping at my old job when I am sure that we have now gotten to the stage where my personal business is established. There is no sense in trying to quit the old job when I am not sure of how strong the foundation of my new business is. I wouldn't want to place a lot of pressure on the new business at all.

There is always the need for you to make sure that everything about your new business is going smoothly especially when it comes to being profitable because that is the only way you can be able to sustain yourself with your business on your own without having to work on another person's project to receive salary.