With entrepreneurship being promoted so frequently with “those Youtube ads” and today’s social media motivational merchants, how do you truly make that step to career-independence? Should you risk it all, or keep your day job?
The comfort of receiving a regular income especially if you have responsibilities, makes a day-job vastly more attractive than pursuing a business career. You go to work, Monday to Friday from the 1st to 30th, and as long as you stay out of trouble and don’t get fired, you get paid! You pay your bills, buy a loved one a gift and save whatever you can at the end.
You continue this process month on month hoping a surprise never disturbs this dance you have going on. Then one day at your retirement party you quietly ask yourself, “Where did all the time go? Feels like I only left university a few years ago”.
But what if you decide to scrap the day-job and focus on being your own boss. Money isn’t guaranteed and you can’t afford to be short at the end of the month when your bills are due. Long hours with little or no reward is what you’re likely to face at the start of this journey, but you believe that your business idea can work…eventually. So what should you do?
The best approach is to measure what “risk it all” means to you. If the potential damage to your life from leaving your day-job is too significant, whilst the rewards are not yet attainable, then keep your day job.
Don’t lose your house trying to sell hats with 10 website views per day. If however, you don’t stand much to lose, especially from a 1 year gamble, then maybe you should consider taking the risk. If it fails, you haven’t lost much if anything at all, and you can go back to drawing board.
Check out what Business Insider had to say on this topic