Small Business Coaching on When To Quit Your Job

By Allison Babb

One of my new subscribers sent this question through to us:

What are the action items before I quit my job (& lose financial security)

Well, they credit right off the bat for just thinking about this beforehand. Often, people take the leap and quit their jobs long before thinking about this.

For all budding small business owners, the answer is quite simple:

If you've got lots of cash stashed to live comfortably for a good two years including the startup costs for your business venture, plus the initial expenses for your business, you can quit (but see the most important thing you need below)
If you don't have a stash of cash, then you want to build your business on the side, generate some extra cash, and as the generation of cash from your small business grows to the point where it's not worth it to keep the day job, then you take the leap into full time entrepreneurship.

But for aspiring small business owners, the most important thing is to discover exactly how to build a business. Too many quit their jobs because they are very talented at a particular thing. They believe their talent is all that's required to become successful.

As a first-time small business owner, that's exactly what I thought - "I'm SO good at what I do that it will be easy to create a successful business." Most budding entrepreneurs completely miss the fact that they need to learn how to build a business, and how to make a business successful.

I would encourage the articles in the "How to Attract Tons of Customers" section of our article list. Customers are the lifeblood of your business and if you don't know how to bring them in, chances are you will experience tremendous struggle as a business owner.

It may surprise you to learn that you cannot build a successful business based on talent alone. You will need to learn marketing skills - the #1 skill you must have as a small business owner. For more on starting a business, see the "Starting a Business" section of our article list.

All that said, there are some that take the leap out of the corporate world cold turkey and they actually do become successful entrepreneurs. Of course, the other reality is that, with that approach, most do not.

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WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Allison Babb is an author, speaker and Small Business Coach to solo entrepreneurs. Allison publishes the "Small Business Success" weekly Ezine on how to create a steady stream of clients for your small business at: www.GreatSmallBusinessAdvice.com

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