When to quit....

[ryanbleau]

My day job? Funny question as this is a entrepreneur forum. Those that have read my progress thread kind of know my situation. Had a lucrative furniture design company out east. Sold off all the tooling and moved 2800 miles west to be where my heart desired. Started a small residential service company that apparently has become the talk of the town. In the meantime I have a day job as a Commercial plumber to the pay the bills while the business gains steam. It's only a matter of time before my time is strained and one will suffer. Do I wait till I start slacking at work because of my business and the run full steam with the business or gently let them down and proceed with my own work. At this point I am making more doing my own work. But not by a huge margin.

What is your personal benchmark for ending work for your own business?

 

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[Esquire]

What is your personal benchmark for ending work for your own business?

When I earn more money as an entrepreneur than I do practicing law ... that is when I think I will either throw in the towel "on my day job" ... or, at the very least, hire a couple associate attorneys to show up at my court hearings (so I don't have to).

I enjoy what I do (divorce attorney) ... call my own shots (self employed) ... so I don't mind trading time for money ... at least, for now.

But that would be my benchmark.

 

[Andy Black]

Maybe you could quit when your business pays you enough for you to be happy you have your monthly expenses covered, and when you have a bit of money set aside to cover a lean few months (the amount here depends on your circumstances).

Or maybe you can reduce your hours or days in work? I've used that tactic a lot, putting myself onto 3 day weeks or 5 hour days to free up time to work on my business.

 

[JasonR]

As soon as you possibly can, even if that means eating ramen for a few months.

When you take the leap, when your business HAS to make it - it's sink or swim - is the turning point.

If you're past the point of proving the model, I say go all in.

What's the worst that will happen? Will they take your birthday away? Is it going to kill you?

Just jump, the safety net is there - you just can't see it.

https://www.thefastlaneforum.com/co...rinter-off-the-balcony-and-quit-my-job.49257/

Little excerpt since you aren't an INSIDERS:

I told him I was making the orders myself and had just bought a thermal printer to make printing and shipping faster.

He said, "What?! Throw that F*cking printer out the window and get that shit outsourced so you can scale like a mofo." Well, 4 weeks later my shit was outsourced.

As promised, I threw my thermal printer off my balcony (there's video). I had gotten so many orders that I couldn't fulfill them. The next day I quit my job...

 

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[revel]

so I don't mind trading time for money ... at least, for now.

Good post, but would it not be better to have freedom of time and place? Those assistant attorneys could be hired, and there would be freedom of time and place while still making money. I find that the problem is people like to chase more and more money when they could autopilot it and be able to travel and devote time to taking it easy.

To Ryan: My benchmark is when I'm tired of going to that other job, and there is noticeable strain in between both of those jobs it's time to quit. It's time to move on to what actually excites you. Because all in all one job will always suffer humans aren't made to multi-task and trying to focus on two things at once simply won't work out. If you quit that plumber job, and rely on your company to pay the bills it's worth it in the end because you will learn the experience of cutting corners to make things work in entrepreneurship...why not get that experience now then later on when the company is at its peak?

 

[AndrewNC]

What is your personal benchmark for ending work for your own business?

What is yours?

 

[Andy Black]

My benchmark is when I'm tired of going to that other job

^^^ I recently decided to use this as a benchmark. I probably start sabotaging things semi-subconciously when I'm in a contract and tired of it. Best to cut the chord before it gets to that stage.


EDIT: Welcome to the forum @revel

 

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