Why You Should Quit Your Job And Start A Business
Let me say this in no uncertain terms: YOU should start a company TODAY. Don’t wait until next week, don’t wait until next month, and definitely do NOT wait until next year. Don’t wait until you quit your job.
Now look, I used to have a day job, and it was great. I had a great boss, and we worked on some amazing projects together. We had stellar clients. But it will never measure up to owning my own company. Put quite simply, owning a company and working for a company are two completely different things. They’re different for your future, they’re different for your children’s future, and they’re different for everything you’re going to do for the rest of your life.
Starting A Company Is Easier
Let’s start with the basics. We recently got out of a recession a few years ago. The economy is on fire right now. It’s an excellent time to grab that business idea rolling around in the back of your head, take action, and actually implement what you’ve been telling yourself for so long. The market is ripe. Everyone’s looking to invest. If you study economies, you know they go up and down like a wave. Right now, we’re on an upwards spiral and there few times better than now to take a risk and start something.
Furthermore, it’s EASY to start a company right now. You don’t need a large amount of capital to begin – just enough to survive until your company is profitable. If you start an online business in particular, you only really need money for hosting, a domain name, etc. These startup costs are pennies compared to the profit you can and will be making if you play things right.
Time Is Your Best Investment
More than anything, you just need to invest your time. You need to spend it building your company, creating a profitable network, and learning from your mistakes. Your new mantra should be, “Learn – implement, learn – implement”. With a tireless work ethic and an exacting management of your time, you can produce a solid foundation for your company without a ridiculous amount of initial funding.
Now, this wasn’t always the case. Before roughly the early 2000’s, there was no global internet usage, niches were hard to reach, and entrepreneurs had to have large sums of cash in order to start a company. These days, you need barely anything. Teenagers are starting businesses and making a profit. So can YOU.
Congratulations – You Just Got A Raise
If you have a job and you want a raise, what do you do? Wait a year and ask your boss, “Hey I’ve been doing hard work and I think I deserve a raise”? They’ll likely review you and give you maybe a 5-10% raise. If you’re lucky. They might actually give you a paycut – you never know.
On the flipside, if you want a raise and you own a company, you have a completely different process. You gather different leads. You convert the leads to sales. You upsell the sales to a more expensive product, or sell more of the same product to your existing clients. Congratulations, you’ve just gotten a raise.
Now, if you improve any of these processes and increase lead generation by 20%, congratulations you’ve gotten a raise. If you improve your phone conversion on the phone (from leads to sales), congratulations, you’ve just gotten a raise. If you raise the price of your product by 20%, congratulations, you’ve just gotten a raise.
In every part of the process, you are increasing the revenue that your company earns, and thus YOU get a raise.
Quit Your Job and Escape “The Cycle”
Now, if you work a regular day job for a company and they come to one day and say, “Well, job well done folks, but we’re being bought out – you’re all fired, have a nice day”. What do you do now? You’re done. You begin that same tired cycle of living paycheck to paycheck. Look for a new job, get a raise, maybe get fired or bought out, and start the cycle again. You spend your money on consumer items, cheap thrills, whatever.
Now, if you have your own company, the way you think about this completely shifts. Suddenly, the revenue that you generate in your company is something that you use to improve YOURSELF. It’s something you invest your entire being in to improve your value for your clients and ultimately the WORLD.
Companies Change The World
A company is more than just a job, it’s more than just an hourly wage. It’s something that you give to the world to improve it, establish a legacy, and ultimately support the well-being of your fellow human beings, from individual to families to whole communities. Your decisions contain a much larger impact when you own a company than simply collect a wage from one.
When you have a business, you’re not just building a revenue stream, you’re building someone’s livelihood. Clients give you money for your time, and with your time you provide them a better experience of life. I can assure you that, no matter where you are in your life, your time is worth more than a fixed amount of money per hour. I’ve done this for years as a consultant, and let me tell you that you can earn a lot more money than you think if you blaze your own path and start your own company.
No More Excuses
So what is really stopping you? Do you think it’s the taxes? Well, I had to burst your bubble, but you’re actually paying more in taxes now than you would if you started a company. Are you afraid that you’re going to have to have skills that you don’t know? Well, YES you are going to have to learn NEW things because that’s what it takes. If you’re not learning, you’re dying, plain and simple.
So, my friend – DON’T WAIT. Don’t listen to that self-doubting voice in your head, or your family, or your or your friends who say to take it slow… ignore them. Begin NOW. Get a mentor who’s done it before, build a network, and listen to those with direct life experience in this area. And DO IT.