Jenna Hannon, a marketing advisor for Treasure Data (treasure-data.com) & MirrorMe (mirror.me), talks about the decision of quitting your day job in order to start your own business. Ask these questions before making the big leap...
- Will the new business solve a problem?
- Do you have an actual market?
- Will you become the best in your industry?
- If "yes" was not the answer for all 3 questions, don't quit
There is always that scary moment between deciding when is the time to quit your day job, what you’re doing now and when to take that scary risk which is starting your own business.
There are a couple of key points you always want to think about. So, when you’re starting a business, you want to make sure that you’re solving a problem, so that you are a definite solution to a problem that several people are having, so that you know you have a customer base.
You also want to make sure there’s a market. So, do these customers exist? Do they have this problem? Do you know who these customers are? You also want to know, are you going to be the best? Because we’re kind of in a world where the best win and we tend to be well, a little bit of a teeter-totter where we see companies very successful and a very competitive market where there are a lot of little guys and one big guy.
If you’re not able to answer all of these questions with a yes, it’s probably not the time to quit your day job and keep thinking about what that problem is that you’re really passionate about that you really want to solve.
Even though it may not be the right time currently, you definitely want to take time to reflect and make sure that it’s the perfect moment – that you’re prepared. And when you take that risk, it’s no longer scary, you feel passionate and empowered.