It’s no news that many people dislike the idea of having to go to work. Research has shown that a third of us feel very dissatisfied with our jobs. But what do you do when you feel burnt out and have a deep seeded desire to move on to bigger and better things. The answer for many people: make your own job by starting a side business online and put the new job-hunting on hold.
Yes. There are naysayers who drill the idea of the “risky” side of starting a business. But lets be real. Is having ‘a job’ really more secure?
The internet offers a wide range of opportunities. It’s much easier than ever to implement small scale business ideas that don’t require much money for start up.
Think Facebook and how it was started in a college dorm. And smaller scale online businesses like Marie Forleo , Digital Photography School and LKR Social Media – all bootstrapped, started as side projects from home and went on to become 7 and 8 figure companies.
You Say: “I Want to Quit My job and Start a Business”
No need to quit right this minute but entertain the idea of an online business from home. Implementing a small scale business idea online gives you the opportunity to have the world as potential customers because depending on what you sell, you are not restricted to geography. In fact, big companies like Amazon have websites that cater to several different countries. And guess what, as long as you develop the skill to sell, you’ll never run out of people to sell to. And losing your job may not be a requirement.
Quitting Your Job To Start Your Own Business Offline
Compared to starting a brick and mortar business like a store front or even a small kiosk at a mall, the overhead is a significantly less and advertising and promotion is cheaper when you do it online. For example, if you put up a blog to promote your online business, (which by the way may cost you less than $50) you will invest some sweat equity in terms of production and promotion but nothing compared to what you would spend in the more conventional offline methods like print ads. You can keep the job, fund your business and launch on the side. After all, by the time you do decide to get another job, your little side business would have already started to make some money.
Quitting job To Start a Business (not) Build Residual Income (yes)
Again, it’s not recommended to quit your job just yet but think about this, launching an online home business offers you the opportunity for residual value – something that most jobs don’t offer these days. With a business online, you’ll not only build virtual real estate (like a website you can sell) but you can also very easily keep making money well beyond office hours (sometimes even while you sleep). Try to do that with a conventional job.
Making Your Own Job On the Side While Testing Your Business Ideas
As you begin to build relationships online you can test your ideas to figure out if there is a market for your product. It’s much easier these days to start your home based business online as you have more access to more of your potential buyers with just a click. You can test your business idea in a matter of minutes and can course correct your actions much quicker and cheaper. The more you mingle online, the more potential for money making because you’re building up your reputation and your brand. Think about it, how many conventional 9 to 5’s allow you to get paid for hanging out on social media?
You Can Bootstrap Your Business While You Work
A small online business can be run by just one person (you). You don’t need employees or a team (depending on the type of business you launch). If you have a computer and have the ability to learn some tech skills, you are pretty much good to go. When you are off from work, you can learn those computer skills easily on your free time while planning your launch.
Starting an online business gives you access to easier tracking for what is working in your business; therefore, saving you more time and money. Since you’ll be bootstrapping on the side, this is extremely valuable.
You Can Go Big While Staying Small
An internet business gives you the opportunity for virality which in turns gives you more opportunity for a big pay day – all of this while working in your underwear. Because some online businesses run digital products and affiliate promotions, going viral may translate into a wave of massive sales with very little effort.
When to Quit Your Job And Start a Business
It’s difficult to answer the question of when you should quit your job to start the forever dream of starting your own business. It all depends on your circumstances. For me, I like the idea of having multiple streams of income, something I learned from reading, Robert Kiyosaki’s Rich Dad Poor Dad. The more opportunities for income, the better it is.
Nowadays with the popularity of the internet, researching business ideas is easy. As you begin dig in, you’ll also come across other ideas you can investigate and evaluate. Starting a home business online does require a lot of work but it’s far less work than other conventional businesses.
Plus, you can keep “the job” and the business if you want. If the idea of making money is appealing to you, the additional income stream might motivate you to look at your job in a different light.
So before you say, “I want to quit my job and start a business,” weigh out your options. You might find that you can actually have both (at least for a little while).