Is it Time to Quit Your Day Job?
Many of you want to transition from a full-time job with a creative project on the side to solely working on your creative project. Congratulations! It’s a big decision and one I’m sure you have been thinking about for a long time. The number one question people have is: when is the right time?
There is no perfect time and no right answer to this question. Hopefully you’ve reflected on where you are in your life right now and made sure that you are in a good place – physically, emotionally, mentally, and financially. You need to consider all of those factors for your family as well. It’s impossible to predict the future but the more constraints you are aware of, the better.
For example, will you have to move or find studio space in the next few years? Do you have a child transitioning through school who will require more of your time? Are your savings adequate so carry you through a rainy day or do you have a significant other who can assist? And if so, how stable is *their* job?
Also you should be looking at the business landscape you will be operating in, and the economy as a whole. Are you ready to be more competitive in your field to win business? If you expand your business and extrapolate numbers, will you be making enough income? Does expanding your business mean more travel, and if so, how does that work with your family dynamics?
The right moment in time may actually look more like a time period – less of a leap and more a carefully choreographed dance. Instead of quitting cold turkey, planning to transition to part-time work allows you to protect your income level while ramping up your side project and making sure the choice feels right.
And speaking of feeling right, not everybody is meant to be an entrepreneur… and that’s perfectly fine. Entrepreneurs are being held on pedestals lately but it’s not the only path to fulfillment. Working solo can mean making lots of sacrifices, some of which you might not be willing to make. Please talk to as many people as possible who have quit their full-time gig before you make any decisions!