At what point is it justifiable to leave a full time job and jump into your own business?

If you wait for the perfect time to start your own business, you will wait forever. Many business owners, myself included, started out on their own because they had no other options. Since you have options, I recommend coming up with a specified goal that when reached will trigger you going out on your own.

From painful personal experience, I will say that you need more money in the bank than you think. Being undercapitalized, and having to fight through it, was the hardest part for me.

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Don't quit your current job. Period. A salary job is recurring income. You don't make much because you have the SECURITY! anyone in business for themselves can make more, but there is no guarantee. Wait for another year. Never burn bridge either way.

Other points

If you wait for the perfect time to start your own business, you will wait forever. Many business owners, myself included, started out on their own because they had no other options. Since you have options, I recommend coming up with a specified goal that when reached will trigger you going out on your own.

From painful personal experience, I will say that you need more money in the bank than you think. Being undercapitalized, and having to fight through it, was the hardest part for me.

When you have 6 months of reserves for business and personal expenses and you are making twice your income.

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May 21, 2020, 5:01:33 PM

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