What if I quit my job from 9 to 5 to start my own business?

Updated on : January 17, 2022 by Amy Fraser



What if I quit my job from 9 to 5 to start my own business?

Hi Kenne!

I strongly suggest that you do not start a business this way, unless you have at least six months to a year of savings to rely on until your business begins to generate steady profits.

Many people seriously underestimate the time it takes to get a business up and running.

It does not say what type of business you are thinking of starting.

If it's sales, that's all the more reason to have a solid foundation underneath you, as this kind of effort is volatile.

You can have a really good couple of months and then things will stabilize and you will only make a few sales.

You also can '

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Hi Kenne!

I strongly suggest that you do not start a business this way, unless you have at least six months to a year of savings to rely on until your business begins to generate steady profits.

Many people seriously underestimate the time it takes to get a business up and running.

It does not say what type of business you are thinking of starting.

If it's sales, that's all the more reason to have a solid foundation underneath you, as this kind of effort is volatile.

You can have a really good couple of months and then things will stabilize and you will only make a few sales.

You also cannot spend a lot of money when there is money; you have to create a realistic budget.

First, take care of your monthly bills, like rent, electricity, food, etc. And then after taking care of any other expenses you have, you can decide how to distribute the rest.

Also determine early on what types of business expenses you have to allocate money for all of them.

You must also have two separate accounts for personal and business expenses for tax purposes.

Due diligence is extremely important when you are considering a business opportunity.

Do your research online to get as much information as possible regarding whatever you are contemplating doing to limit surprises later on.

Also keep in mind that not everyone is cut out to be a business owner for many different reasons.

Find a quiet place and sit down with a pen and paper and write down all the pros and cons of your potential business so that you have a clear plan of action to begin with.

Remember that working for someone else has advantages: you have set a schedule; you have a lunch break; when he goes out at night, his work stays in the office; They pay you vacation and sick days and health insurance.

When you have your own business, you need to eat, sleep, and breathe!

If you take a vacation or sick day, you don't get paid.

Depending on what you are doing, you can wear all the hats at first, until you can afford to hire staff.

So again, put it all on paper and then re-evaluate your action plan.

The worst move is to leave a solid job for the unknown without a definitive course of action.

There is no point in setting yourself up for failure from the start!

Consider all aspects of your life right now and make the best decisions.

Good luck in your search!

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Well, you're probably wondering what the hell I was thinking about.

When you realize that the reality of business ownership differs markedly from what is visual in your mind as to what it would look like.

Stress, duress, problem solving, and demands for more time, energy, and money than you have to invest, and you are responsible for all the work for all sales and service; otherwise your business will be ruined and so will you; you will have no income. Everything takes its toll.

Instead of working from 9 a.m. M. At 5 p. M. Five days a week and having a life outside of work, you will work six to seven days a week.

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Well, you're probably wondering what the hell I was thinking about.

When you realize that the reality of business ownership differs markedly from what is visual in your mind as to what it would look like.

Stress, duress, problem solving, and demands for more time, energy, and money than you have to invest, and you are responsible for all the work for all sales and service; otherwise your business will be ruined and so will you; you will have no income. Everything takes its toll.

Instead of working from 9 a.m. M. At 5 p. M. Five days a week and having a life outside of work, you will work six to seven days a week, from 5 a.m. M. At 6 p. M. If it is not at 10 p.m. M. Most nights, and you won't have the time or energy to have a life.

Chances are, you drastically underestimate the days, money, and personal time it takes for your business to stop wasting cash.

Starting your business while keeping your 9 to 5 job gives you the money you need to take the days it takes to incubate your new business. And it gives you a source of funds to buy supplies and hire people who might be more profitable than you for the first few jobs that need to be filled.

Keeping your day job forces you to work IN your business, not IN your business.

First of all, quoting a job is easy instead of getting a job, you must have some backup plan to support you and your family in case your business does not work, secondly, you must have a proper strategy of what is going to start and You must start small because small movements make big things remember this, just and only enter a business where you have knowledge, deep knowledge and of course you are passionate about it, we do not do the work for passion, but a last option, that's all. ...

I was in a very similar situation when I started Gillware Data Recovery. He was a successful software architect with a healthy six-figure salary, but he was bored with software and did not enjoy having bosses.

At first I worked 40 hours in consulting and then another 40 hours in the side business. I'm a bit of a workaholic so that wasn't a big deal. The 40 hours in the side business never felt like a job, it still doesn't.

I was lucky that when I wrote / designed software for large companies, I did it as a consultant. I was twice lucky to be well above average.

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I was in a very similar situation when I started Gillware Data Recovery. He was a successful software architect with a healthy six-figure salary, but he was bored with software and did not enjoy having bosses.

At first I worked 40 hours in consulting and then another 40 hours in the side business. I'm a bit of a workaholic so that wasn't a big deal. The 40 hours in the side business never felt like a job, it still doesn't.

I was lucky that when I wrote / designed software for large companies, I did it as a consultant. I was twice as lucky to be well above average in that profession and to be able to perform the normal tasks of a 40 hour consultant in about 15 yo-hours. So I worked it out with my managers and worked less and less over time, until finally it didn't even make sense to work those 15 hours. This was to the chagrin of my IT pimp who was losing money on my stupid non-40 hour antics.

It is worth noting that I have never paid myself a CEO salary that is equivalent to what I earned as a software mercenary. More money to me means less happy employees or fewer employees doing all the fun things I want them to do. It is also worth noting that he was not married and had no dependents. If I'm honest with myself, I'm pretty sure I wouldn't be able to do it again, or at least not until my kids are off to college.

We are on this planet once. If taking risks and being your own boss is important and you feel driven to do these things, skip. This is the hardest part to analyze because you need to be truly honest about your personality and what makes you happy. Most people are not so happy at work, or at least they are much happier on the weekends. Those same people enjoy weekends and free time more because they can't really think about work at all and are only concentrating on their hobbies / friends / family. When you and your family's income come 100% from your own business, you can't turn it off, you'll think about it all the time, possibly even in your dreams. I used to dream of hard drives all the time. Sad. But for me everything is worth it.

I can tell you that I will never have a job where an old man with a stupid mustache with 40 IQ points less than me tells me what to do. Even if he's a perfectly nice man with a well-groomed mustache, that pays me an exorbitant salary. While I have never been considered a maverick, I know for a fact that if I ever need to, I can put together a winning team to tackle almost any industry. Trust has been earned by doing it more than once.

Ultimately, listen to your instincts. If that drive toward daily work dreads you, and if you start spending more and more time looking at your watch and thinking about your other job, it's time to move on.

There is no "right" time to do this, and it depends on the business you are starting. You may not have to quit your job to start the business, choosing to quit later when your business has enough income to support yourself and yourself.

Here are some factors to consider when making the decision for your own specific situation:

  1. Do you have six months of savings you can live on while setting up your business, assuming it can take that long to get your business to produce enough income?
  2. How much money do you need to start your business? How much money wi
Keep reading

There is no "right" time to do this, and it depends on the business you are starting. You may not have to quit your job to start the business, choosing to quit later when your business has enough income to support yourself and yourself.

Here are some factors to consider when making the decision for your own specific situation:

  1. Do you have six months of savings you can live on while setting up your business, assuming it can take that long to get your business to produce enough income?
  2. How much money do you need to start your business? How much money will you need to keep running for the first six months of your life?
  3. Can you start your business while you still have your job? Can you develop leads and / or clients before actually opening the business?
  4. Do you have a written business plan? Some kind of plan, even for the smallest businesses, can make startup a lot easier and is critical if you want financial backing. An excellent resource for planning your business is the Small Business Administration (SBA), which has two excellent organizations under its umbrella: the Small Business Development Center (SBDC) and the Senior Corps of Retired Executives (SCORE). They can be found online and have offices across the country. Their services (business plan consulting, marketing training, creation of a legal entity, etc.) are free and low-cost, can help with your specific situation, and are available not only for startups, but also for existing companies,

I hope this information provides you with some guidance on how to start your business without undue risk. We wish you every success in your business!

You are obviously smart. He comes from a family that has become involved in business ownership and is operating a business that has a substantial annual income base. It appears that you share in the profits of the business and that constitutes more than you earn from your investment banking job. If that's correct, leaving banking will only make you lose that salary until you can replace it with your new business.

It would have an income stream. Presumably, your business would be self-sufficient, meaning that you would get start-up capital from your savings, cash flowing from your earnings, and perhaps a loan.

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You are obviously smart. He comes from a family that has become involved in business ownership and is operating a business that has a substantial annual income base. It appears that you share in the profits of the business and that constitutes more than you earn from your investment banking job. If that's correct, leaving banking will only make you lose that salary until you can replace it with your new business.

It would have an income stream. Presumably your business would be self-sufficient, meaning you would get seed capital from your savings, cash flowing from your earnings, and perhaps a loan from the family business to repay.

The real question is how you personally feel about starting, owning, and running your own business. It is very different to be an employee and to be an owner. It is also very different from being a family member in an established business and now starting a new company on your own.

Can be done? Of course. It can be fun? Absolutely. Can it become profitable? Probably if you're willing to put in the work, time, thought, energy, learning to make it happen AND it's a viable, well-executed concept that meets a need in the marketplace that your business venture can address or solve. . So ... is it you or not?

Yes, I don't know. My life has been a hodgepodge. I wish I had a wealthy relative who could have financed me back then.

And sometimes I still consider going back to a day job. (People say you shouldn't have a backup plan, but office jobs can be great sometimes.)

Anyway, to answer as best as possible:

I started Campus News while working full time as an administrator at one university, but I was also attaching and advising a school newspaper at another university.

So he was used to working a lot.

What happened was that Campus News replaced part-time jobs (the adjunct and counseling) within a year.

Then I was

Keep reading

Yes, I don't know. My life has been a hodgepodge. I wish I had a wealthy relative who could have financed me back then.

And sometimes I still consider going back to a day job. (People say you shouldn't have a backup plan, but office jobs can be great sometimes.)

Anyway, to answer as best as possible:

I started Campus News while working full time as an administrator at one university, but I was also attaching and advising a school newspaper at another university.

So he was used to working a lot.

What happened was that Campus News replaced part-time jobs (the adjunct and counseling) within a year.

So I stayed with a day job in the university administration and then did Campus News in the evenings and on weekends.

I stayed at the day job for five years. It was not an easy job where I could mail it. And then the president of the university changed and I knew I would end up with a lot more work with the new one, so I decided to do Campus News.

However, that had a setback. In the year I was ONLY doing Campus News, ad sales went down, and I had to buy health care, so in year 7 I took a full-time job as a visiting professor. That gig was relatively easy and allowed me to regroup and develop efficiencies for Campus News. I practically used my office hours to work on the Campus News rebrand. Teachers can openly work on side projects.

That lasted two years. For the last year and a half, I have just done Campus News and am in my 10th year.

So I would say that the real answer, the point where I could live off my only income and support the family, came between ages 8 and 9.

If that seems like a long time to you, consider how difficult it is to create a profitable newspaper today. It is a miracle to have come this far.

My goal is to expedite the production of Campus News in the next decade and to sell it and semi-retire in the year 20. I will turn 60. Maybe then I will take a low-impact teaching or administration job, until I qualify for Social Security.

Preface with some of my previous answers.

Jordan Westfall's answer to I am a surgeon with a very good idea for an app (specifically related to my surgical subspecialty). I have no knowledge of programming or coding. I know my target customers who would use the app and I have a good idea on how to monetize it. What would be the best way to make this happen?

Jordan Westfall's answer to Does it make sense to work if you want to be an entrepreneur?


  1. Take all your ideas and choose 30% of them. (If you have 10, choose 3)
  2. With your 3 ideas, research the competitors. What is your market share?
Keep reading

Preface with some of my previous answers.

Jordan Westfall's answer to I am a surgeon with a very good idea for an app (specifically related to my surgical subspecialty). I have no knowledge of programming or coding. I know my target customers who would use the app and I have a good idea on how to monetize it. What would be the best way to make this happen?

Jordan Westfall's answer to Does it make sense to work if you want to be an entrepreneur?


  1. Take all your ideas and choose 30% of them. (If you have 10, choose 3)
  2. With your 3 ideas, research the competitors. What is your market share? How long have they been around? Who are they targeting? What is your marketing plan? What are they doing on social media (Twitter, Facebook, etc.)? Are they active? Have they been through an initial public offering? Have they been on the news?

If any of your competitors master 80% of these questions, don't follow that idea (especially for your first business). If you feel like taking on them, you'd better have a great deal of business development knowledge or find someone who will.

  1. Research the size of the market for remaining ideas. This may have been done during the competitor research, but do it again, use other sources. If you want to raise venture capital or seed capital, knowing the size of your market and your overall industry is a huge advantage.
  2. Flip the coin. Be your ideal customer / user. If you are solving a problem, what would you do? Why would they pass? Check that situation using many different searches and follow the registration processes (you can create a free fake email address via gmail / yahoo). Make sure to write down each step and why it is good or bad.

Now you need to know which idea you want to pursue (if not, choose other ideas and go through the same research process).

Bonus tip: if there are no competitors, it's usually a problem for you. However, if you are passionate about an idea, move on to the next part.

Grow an audience

It is important to realize that talking to people about your idea is a good thing and you don't have to worry about thieves. How many car manufacturers are there that make sports cars? Much. So go tell the world and don't get unraveled.

Go to http://meetup.com and join meetings about the technology you will use to grow your network and then join groups around your product. By now, you should assume who your market is. Find out where they are, where they hang out, what they like to do. Do that, be there, make friends, pack lunches, or just say it on the spot if you get the chance, but don't push it. Just talk about it casually, as if you were talking to a friend. When attending both technology and market meetings, you should have solid feedback that tells you where your product is headed. Objective: speak with at least 100 people from the technology sector and the market before moving on to the next phase.

While meeting people in real life, you should be

  • Answer questions about Quora in your area of ​​expertise. (Post on social media)
  • Correction of posts on Medium (post on twitter / facebook / LinkedIn)
  • Write a blog that you can use as a business journal. Update your audience daily or weekly on progress. What he has done, what he has achieved. (Post on social media)
  • Go to Twitter. Partner and interact with 1. People who do the same, 2. Users / potential customers. Don't talk about your company. Your tweets should give them a reason to be interested in who you are. Make sure to put your project / company / app / whatever in your Twitter bio.
  • Go watch all the episodes of the #AskGaryVee episode. Here's his channel link: Gary Vaynerchuk. He will teach you all about social and entertain you at the same time.

Taken from a previous answer for after choosing an idea:

Roadmap n. 1 (this next phase is an excerpt from one of my other quora answers)

  1. Talk to literally 50 people about your idea. Positive response 70% of the time = continue, if not, have another idea.
  2. Draw (by hand) some sketches of what you want the main value proposition to look like. Go back to those same 50 people, 90% positive response = continue. If not, refine your drawing with suggestions from the 50 people. Repeat until 90%.
  3. Draw the rest of the app (login / logout, the little things, etc.). Repeat no. 2.
  4. With a 90% positive rating, you should have at least 70% -80% saying they would actually buy. The goal would be 100, but people can be tired of drawings.
  5. Coding should start here with some basic navigation of the app. It could be like 2-3 buttons. Go test those buttons with 50 people. You need a positive response of 90% or more. Continue
  6. Code more, then test to get 90%

As you can see, incremental increases in productivity should produce a product that has at least a 90% positive response rating. By the time you're ready to go, there's no question of feasibility, but marketing is an entirely different game.

Before looking for funding, co-founders or launchers, go check out all of Guy Kawasaki's videos here: Google and then read his book Art of the Start 2.0.
Also look at anything from Steve Blank and Seth Godin.

Education first, run for life.


Please note that nothing I described requires you to quit your job and it can take up to 6 months to complete. Take advantage of the next 6 months to develop the beta version and then release exactly 1 year after starting. Hopefully you are making money and when you have a 6-12 month runway (where you can go 6 months without a single penny coming in). That's when you quit your job.

To answer your question directly. If you are not comfortable with all this work mentioned above. Do not do it. I have another answer that sheds some light on how difficult entrepreneurship is.

Jordan Westfall's Answer to Are There Too Many Entrepreneurs?

Good luck.

MANY PEOPLE HAVE THE URGENCY to ditch the 9-5 routine to live the dream and be their own boss. In this dream, there is no fixed annual salary, and the sky is the limit for income generating potential.

Are you ready to be your own boss? For some, franchises may be the answer. A franchise investment offers a ready-to-go business model, along with training, guidance, and support.

In recent years, the financial record of franchises has been strong. Franchise businesses are growing faster than non-franchisees so far in 2016, according to the International Franchise Association. For the past

Keep reading

MANY PEOPLE HAVE THE URGENCY to ditch the 9-5 routine to live the dream and be their own boss. In this dream, there is no fixed annual salary, and the sky is the limit for income generating potential.

Are you ready to be your own boss? For some, franchises may be the answer. A franchise investment offers a ready-to-go business model, along with training, guidance, and support.

In recent years, the financial record of franchises has been strong. Franchise businesses are growing faster than non-franchisees so far in 2016, according to the International Franchise Association. Over the past five years, average annual job growth in the franchise industry was 2.6 percent, nearly 20 percent higher than other companies.

The franchise business is on fire these days, my ideas for the best franchise as I look forward to this period of time is the company, which is achieving day-to-day success due to its work ethic and responsibility to satisfy. the needs of customers at the time. The best franchise I'd like you to take is Phixman. One of the most intriguing firms in India.

They are better because: -

  • Significant capital is required.
  • Large overload.
  • Used borrowed capital must be repaid.
  • Great time and expense requirements.
  • Management issues related to scope of control, demands for supervision, difficulty in hiring and maintaining competent managers.

If you have a smartphone and a laptop, well, considering today's world, you certainly do, in that moment you have come to the right place! Phixman reclassifies the word 'settle down' making it even more simple, compelling, competent and within the reach of a considerable number of mortals, who thought that repairing a telephone or a workstation might be the most notable bad dream of their lives. Phixman started with a plan to influence the smartphone to be fixed in the blink of an eye and this is the area where we exceed expectations. In the event that your Smartphone or Laptop has a damaged screen, missing parts or any problem that is influencing its sporadic operation, the 'Phix' for you. We are not limited simply to smartphones; we repair tablets as well. The best bet with Phixman is that we deal with all the smartphone and laptop brands that are available in the Indian market today, with unbeatable rates and quality. Simply give us a call and our officer will be comfortable at the entrance to pick up your smartphone or laptop in need of repair. Unlike other repair shops, where you need to sit for 2-3 days to install your smartphone or PC, the Phix we fix it for you in one day and that's too under warranty; and this incorporates major brands such as potential clients of Apple and Samsung. There is nothing we cannot do about smartphones and laptops. Simply give us a call and our officer will be comfortable at the entrance to pick up your smartphone or laptop in need of repair. Unlike other repair shops, where you need to sit for 2-3 days to install your smartphone or PC, the Phix we fix it for you in one day and that's too under warranty; and this incorporates major brands such as potential clients of Apple and Samsung. There is nothing we cannot do about smartphones and laptops. Simply give us a call and our officer will be comfortable at the entrance to pick up your smartphone or laptop in need of repair. Unlike other repair shops, where you need to sit for 2-3 days to install your smartphone or PC, the Phix we fix it for you in one day and that's too under warranty; and this incorporates major brands such as potential clients of Apple and Samsung. There is nothing we cannot do about smartphones and laptops.

Phixman is a total bargain, go for it!

I wouldn't say that one is better than the other. It is simply that the two are driven by different impulses. Most people (92%) are driven to be "risk averse". In the scientific study of human relationships ("Psychophysics") these people weigh a certain thing over a 'bet' that may even have a higher expected value. An example is battered women who remain in an abusive relationship despite the pain they endure. Such internal programming can be the result of multiple iterations ...

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The answer to this question largely depends on your location, the state of the local economy, that is, how marketable your CV is. In some countries it is easier to get a job after quitting than in others. If you find it difficult to get another job, you need to be very careful. But if your circumstances change, you may have no choice but to jump and swim.

You will need to take a careful look at your budget and family expenses to determine which are needs (school fees, food, housing, etc.) and which are discretionary. Determine the amount of money you receive realistically

Keep reading

The answer to this question largely depends on your location, the state of the local economy, that is, how marketable your CV is. In some countries it is easier to get a job after quitting than in others. If you find it difficult to get another job, you need to be very careful. But if your circumstances change, you may have no choice but to jump and swim.

You will need to take a careful look at your budget and family expenses to determine which are needs (school fees, food, housing, etc.) and which are discretionary. Determine how much money you realistically need to live. Perform a very conservative sensitivity analysis on your new business and projected income levels. Talk to your tax collector or your accountant.

Leave your business only once:

  • Your side business can sustainably support your required minimum income levels.
  • You have enough savings / capital (runway) and access to credit to sustain it until your new business can generate enough income to support you and repay the credit sustainably.
  • Spending full time at the new company (not just in your own opinion) is guaranteed to turn off the lights and bring about a massive change in revenue growth.

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