What job did you quit to start your own business? How's that going?

Updated on : January 17, 2022 by Cohen David



What job did you quit to start your own business? How's that going?

I left my job as a Travel Consultant (Ticket Sales Division) for Carlson Wagonlit Travel in October 2020 due to the lockdown and bad licensing policy. The blockade has forced us to work non-stop without any breaks or vacations, I put my papers in and moved to Shillong forever after more than 11 years in Delhi.

I tried to be a marketing and business development consultant for private companies in Shillong, but got no response. Therefore, I borrowed money from my sister for a start-up capital of Rs 25,000 to start sales of power tools or machine products for the furniture manufacturing sector. I did

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I left my job as a Travel Consultant (Ticket Sales Division) for Carlson Wagonlit Travel in October 2020 due to the lockdown and bad licensing policy. The blockade has forced us to work non-stop without any breaks or vacations, I put my papers in and moved to Shillong forever after more than 11 years in Delhi.

I tried to be a marketing and business development consultant for private companies in Shillong, but got no response. Therefore, I borrowed money from my sister for a start-up capital of Rs 25,000 to start sales of power tools or machine products for the furniture manufacturing sector. I did that, but my overconfidence in my dad's manufacturing unit has wrecked me and the average purchasing power of these units is only Rs. 3,000 at most, while the machines I bought cost a whopping Rs. 7500. Fortunately, my dad came to my rescue and bought a piece. I got back the initial capital of Rs. 7000 and reinvested in products below Rs. 2500. I got some new orders and got a 50% sale and a 25% loss, and the remaining 25% has yet to be sold.

Little by little I realized that the wood furniture sector does not have much purchasing power, so I started to approach the steel manufacturing units, I was optimistic but I realized that they already had the machines and decided to focus in accessories. I contacted the manufacturers but got very little response and got only 10% sales, the reason is that most of these manufacturers purchase accessories from iron and steel wholesale retailers and therefore affect my sales no matter how much. good is the offer. I decided once and for all, to be a sub-wholesaler for retailers in and around Shillong as well because I am incurring loss after loss.

In a period of two months, I had no choice but to restructure my business once again.

He was a software engineer in the games industry. I left that to invest in land full time. All investment in land is buying vacant land cheaply and selling it at retail prices.

When I say I buy cheap, I mean a few hundred or thousands of dollars. I work much less and now I can code the things I want, not what I am forced to work on.

I quit my corporate accounting job to start my own business 13 years ago and I'm doing very well. I work from home and earn triple the money, I have a lot of work.

A few years ago, when I started my freelance career, my income for the first few months was almost nil.

On the other hand, my friends were already employed and were earning INR 20–30k per month, while the former were earning around INR 60K-80K per month.

After a month or two, I started making the same amount of money my friends were making.

Today I am at a point where some days I make in one day what my employee friends earn in a month.

Slowly and steadily, my income kept growing, because my income was not limited by someone, but my income depended on how much

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A few years ago, when I started my freelance career, my income for the first few months was almost nil.

On the other hand, my friends were already employed and were earning INR 20–30k per month, while the former were earning around INR 60K-80K per month.

After a month or two, I started making the same amount of money my friends were making.

Today I am at a point where some days I make in one day what my employee friends earn in a month.

Slowly and steadily, my income continued to grow, because my income was not limited by someone, but my income depended on the amount of work I did.

This is the beauty of being a freelancer or starting a business.

However, I would like to point out that it is not as easy as it sounds.

Starting a business / self-employment is extremely challenging and stressful.

However, if you put in the effort and do the right thing, it can be extremely rewarding.

If you want a stable, stress-free lifestyle, business is not for you.

Why most people choose a job over a business:

The initial phase of being hired in a company feels pretty good, you complete your graduation, there is already a company waiting for you to pay you a salary.

It feels good to start earning money right after college.

Shortly after completing my graduation, most of my friends were enjoying vacations, traveling because they had already been placed, and were awaiting their entry date.

While, on the other hand, I was running around town in scorching heat to find clients.

They had the guarantee that they would be paid for the work they do.

On the other hand, I had no idea if I could make money this month.

To sum it up in one line: "It was very hard."

Stress and other aspects of life:

Even though I earn a lot more money than my classmates, I can't say that his life sucks.

In fact, many of my friends who work as employees have a much happier and stress-free life than I do.

They can relax when they get home, they can afford to have sex, they don't have to worry about work when they go to sleep.

But that does not imply that I have a boring and boring life, it is just that I enjoy doing things that they would not do.

I love working more than 14 hours a day, instead of relaxing.

I love reading a lot of books instead of watching a TV series.

I love giving up love / relationships for the sake of achieving my long-term goals.

I love being awake, planning things instead of sleeping another hour.

Over time, I started to enjoy these things and now they have become part of my lifestyle.

Is money everything?

No, it's not.

Although I earn decent money, that does not mean that I do it solely for the purpose of making money.

I would do all of the things mentioned above, even if I didn't get paid for it.

I would do it for free just because I like it.

Money is just a by-product / measure of your performance that indicates how well you are doing.

My final verdict:

Which is better: a job or a business?

It all depends on what kind of lifestyle you would like.

If you like being a workaholic and you wouldn't mind working longer hours and making sacrifices, then do business.

If you want a balanced and happy life and you are not worried about money, then look for a job.

It is stressful. It's awful. It's a nightmare. It is a long job that sometimes has little impact. It's too much effort for some to bother.

But in the end, a well-worked one in which people put A LOT of HARD work can make you earn a lot of money, meet new people for you, make you travel and see the world and enjoy life more.

*

My wife and I run a graphic design business based in London, for which I employ about 100 people. Revenue is generated through clients calling our number to hire a contract worker to design and in some cases help build an idea that our client has in mind so that they can

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It is stressful. It's awful. It's a nightmare. It is a long job that sometimes has little impact. It's too much effort for some to bother.

But in the end, a well-worked one in which people put A LOT of HARD work can make you earn a lot of money, meet new people for you, make you travel and see the world and enjoy life more.

*

My wife and I run a graphic design business based in London, for which I employ about 100 people. Revenue is generated through clients calling our number to hire a contract worker to design and, in some cases, help build an idea that our client has in mind and may have a hard time expressing in words, in an image or just need help to do it.

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Let me explain what we normally do in our business, when we receive a call. First of all, we always answer and always have someone on standby to answer a call from a customer. We kindly open the conversation, thank you for calling, and politely ask if there is anything we can help with, or a contract you would like us to sign.

The four options that we give for the client to choose:

  • Hire up to five of our skilled workers for a job they ask us to complete.
  • File a complaint against a staff member or send a thank you message that we will pass on to that staff member or a thank you message.
  • Request the information of a job that we have completed for the customer who calls the company.
  • Any questions, staff requests or ideas for improvement that you think can improve customer satisfaction for our company.

Once the client gives us one of the four options, we do one of the following based on the option they have given us.

  • If they have requested that a job be completed, we ask for their name, email address and details about the job, and how many workers they would like out of the five we assign for a job. We then select workers based on their gender preference and the type of work they want to complete. We then ask for the customer's address and zip code, and pay all travel costs for the equipment to reach the customer's designated place of residence / work.
  • If it is to make a complaint, we ask which staff member they want to complain about, what they did to get the complaint issued, and whether it was an intentional or accidental action that the customer is complaining about.
  • If it's to send a thank you or thank you message, we ask which staff member they want to thank, the message, and then we thank the customer for thinking that our staff have done an amazing enough job to require an additional thank you to the customer's payment.
  • If it is to request information for a job that we have completed for the calling customer, we send the information by email to the email they have given us within 24 hours that contains travel costs, material costs (if applicable) and much more information related to work.
  • If it is about submitting an application to work for us, we ask them when they would like the interview, their nationality, their ability to speak foreign languages, as the company recently received a call from a client in Paris and then we interviewed from there.

It's a very stressful process where we hire ten more people to work for us, with at least two ready to answer calls at any time, 24 hours a day.

*

Paying your workers is also time-consuming, but it is also very satisfying. Paying the 124 workers in my company is really satisfying to know that they have done well enough for me to pay them and that I am the source of income for them and I am proud to be able to pay my most experienced workers £ 8.95 per year. hour, above the minimum wage by around 89p, and the lowest I pay anyone is £ 8.05, the minimum wage, for callers during the day. Night callers are paid higher, but not much higher, as they work their normal sleep hours and are therefore tired during the social hours of the day.

*

I usually take home around £ 10,000 after monthly taxes, so I earn for my business around £ 100,000 a year after taxes, but the business expenses come from this, plus the 10% I give towards keep in the company as funds. So take all of that and around £ 7,500 come home with me every month, for a total of £ 90,000 a year if it's exactly £ 7,500. I am in awe of how I am making so much money just two years after the history of the business. I am also proud.

*

In general, owning a business is time consuming, exhausting, stressful, covered in fees and expenses, many jobs, very long hours, but it also comes with the satisfaction of having to pay your staff, enjoy if the business is something you love, the ability to go abroad in your business, which makes it a huge thing, and also to allow you money that you won't even need to donate to family members, friends, charities, organizations, or even essentially people homeless, both women and men. London, which I enjoy giving cash and meals to.

It gives you the energy to know that you have the nerve to start a business in a corporate world, coming back even more to your internet much more after that, but imagination is something that really should be used to its full potential, and all kinds. of people have amazing creativity and also have the ability to fulfill the dream of doing a business.

I hope you provide an idea of ​​my business and also what you want to get one. Please comment on any queries below and I am more than happy to answer them!

To me, it just became obvious that it was time to go. They were going to sell the company and I am someone who loves people and growing companies.

Also, I knew that I needed to meet with a group of people who were doing exciting things. This was almost 3 years ago: I was accepted into Seth Godin's altMBA and notified to withdraw the first week of that program.

He knew he wanted to start a business, but he wasn't sure exactly what. As a woman working in senior management positions in a male-dominated work environment, she knew she wanted to investigate the status of women in other businesses.

I spent a good 6 months i

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To me, it just became obvious that it was time to go. They were going to sell the company and I am someone who loves people and growing companies.

Also, I knew that I needed to meet with a group of people who were doing exciting things. This was almost 3 years ago: I was accepted into Seth Godin's altMBA and notified to withdraw the first week of that program.

He knew he wanted to start a business, but he wasn't sure exactly what. As a woman working in senior management positions in a male-dominated work environment, she knew she wanted to investigate the status of women in other businesses.

I spent a good 6 months interviewing women around the world about their work environments and challenges. I was hoping it was a lot better than what I was informed.

Having used my coaching training on the job, I decided to focus on personalizing my coaching for professional women working in male-dominated industries.

Too many women were wasting years in their careers on a number of issues and I knew I could help with that.

If you are considering leaving a corporate job and starting a business, I advise you to proceed with caution. Start a side hustle, see if it's really necessary and if people are willing to pay for it, take the time to understand why you want to do this and what it's for.

I gave him months' notice, oh yeah, when I told HR that I was “retiring,” he stuttered, “Do you have a plan? Because statistically speaking, you will be dead in 3 years if you don't! "

Don't underestimate the reality of the roller coaster of working for yourself. It is exciting, at times quite scary, and at other times very rewarding. It takes courage to go ahead and do the hard work of building a business.

Check back with me in February and see if I'm still here; It will be 3 years since I left the company.

The best advice is that you can go bankrupt by selling something at a profit. One person in particular wanted to hire me with an equity stake when I explained this premise to him. It is extremely counterintuitive and this is why it makes people stumble.

Suppose you buy a product for $ 1 and sell it for $ 2 (ignore overhead, etc. for now). But your supplier wants to be paid right now, the buyer wants to pay you later. So you fill the gap by borrowing money from (friends, family, bank, etc.) Now you have to pay interest for the time in between, but you have a profit margin.

Usually the

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The best advice is that you can go bankrupt by selling something at a profit. One person in particular wanted to hire me with an equity stake when I explained this premise to him. It is extremely counterintuitive and this is why it makes people stumble.

Suppose you buy a product for $ 1 and sell it for $ 2 (ignore overhead, etc. for now). But your supplier wants to be paid right now, the buyer wants to pay you later. So you fill the gap by borrowing money from (friends, family, bank, etc.) Now you have to pay interest for the time in between, but you have a profit margin.

Usually the first time things work and you make a little money, then you give more and then more. Soon something happens. Suppose there are 90 days between the time you pay the supplier and the time you collect the money from the buyer, you have to finance the maintenance costs of the 90 days out of your own pocket. There are two things that can go wrong, the first is that you are not paid on the 90th day and now incur additional costs. Depending on financing costs, the $ 2 price may not be profitable ($ 1 per item and $ 1.50 in financing costs with a sale price of $ 2 is a loss of $ 0.50 per item). 30 owes the bank $ 100 but only has $ 50 in his account.

Now there are two possible routes, one route is that the bank applies for the loan and the second is that you find an "angel" investor. In any case, the result will be expensive, the bank can sell the receivable for a fraction of its value to settle your debt, if you are lucky, the realized value can cover the value of the loan and nothing will flow to you. Second, the angel investor can step in and earn a great deal of money to provide you with bridging financing. It is difficult to say which one is better, in any case, even a "successful" resolution will be very expensive.

It's funny, but companies can stay in business for a long time if they don't make a profit, but they are likely to fail quickly if their cash flow is negative. Most people, especially small business owners, confuse earnings and cash. The two are very far apart.

This is an excerpt from my journal the day I left my job, more than two years ago.

I left PwC. The dream company of merchant children around the world. I kicked him and spat on him, and just in case, I also gave him a couple of hard blows to the shin. It was a leap in the dark, a leap into the void without a harness.

What if I fall?
Oh my dear. But what if you fly?

Stupid writers with their stupid, motivating, encouraging, and invigorating quotes that empower dumb bookworms too in love with them to know better.

So what's next? People ask me with a raised eyebrow and a smile. Where does it go next?

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This is an excerpt from my journal the day I left my job, more than two years ago.

I left PwC. The dream company of merchant children around the world. I kicked him and spat on him, and just in case, I also gave him a couple of hard blows to the shin. It was a leap in the dark, a leap into the void without a harness.

What if I fall?
Oh my dear. But what if you fly?

Stupid writers with their stupid, motivating, encouraging, and invigorating quotes that empower dumb bookworms too in love with them to know better.

So what's next? People ask me with a raised eyebrow and a smile. Where does it go next?

Good question, I say. I swallowed a lump stuck in my throat. If only I knew ...

In a moment of cruel indifference rage, I reached a breaking point and took wild pleasure writing the email.

I'm sorry to inform you but for personal reasons I have decided to leave this company ...

I imagined the reader suffering somewhere, mourning their loss, rolling in their beds at night, wondering where they went wrong. Pure flimsy, of course, something that even my irrational mind recognized at the time. But even if I felt myself cutting my nose to annoy others, it felt good. Guy. It felt good.

I didn't realize it until two weeks later, when they took my laptop, confiscated my identity card, blocked my access, took the bag and emptied all my things into an impersonal envelope. Bye. Your salary will be processed at the end of next month. Not even courtesy of an exit interview. Twenty-five people quit smoking that day. One hundred a week. Maybe they were tired of the simulation.

Today is my first official day of unemployment. I have big plans to work with a startup.

I hope to read this again in a few years and smile at my naivety. And don't be surprised how well everything turned out. How all my fears and sleepless nights and near panic attacks were in vain.
At least that's the hope.

Edit: Almost two years to the day, I am running a successful content marketing agency. Being an entrepreneur is exhausting and the most stressful job in the world.

But I don't have a single day of regret.

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

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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.

There are a few key things you will need to find out:

  • Do you have someone you can trust to help you in the early stages? Co-founders / early hires count towards this. It's also worth it if you have connections to accountants and lawyers, to help you avoid very costly mistakes. Your network is extremely important; If you feel like you don't know the right people yet, try attending events geared toward startup founders and networks, networks, networks. I've seen people try to go it alone, and far fewer succeed than those with co-founders.
  • Can your business be disruptive? If not, can you provide a
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There are a few key things you will need to find out:

  • Do you have someone you can trust to help you in the early stages? Co-founders / early hires count towards this. It's also worth it if you have connections to accountants and lawyers, to help you avoid very costly mistakes. Your network is extremely important; If you feel like you don't know the right people yet, try attending events geared toward startup founders and networks, networks, networks. I've seen people try to go it alone, and far fewer succeed than those with co-founders.
  • Can your business be disruptive? If not, can you provide a service with a higher quality standard than most of your competitors? If not, can you provide a niche service that just doesn't exist in the area? A business that is neither great nor new will have a hard time making a profit. You can rephrase this as: "Will this business improve people's lives in any way?" and adjust your idea until the answer is "yes".
  • How much money do you need to start your business before it starts to generate enough income to support yourself? Once you know this, find out how much you can save from your salary and how much you can loan. There are several startup incubators that can provide you with financing, although acquiring funds in this way can be a daunting task. Crowdfunding is also an option. Be very careful not to take too long - a great business idea today may be worthless two or three years from now.
  • In the beginning, if you still want to keep your job for safety, your work-life balance will probably have to be non-existent. Even if / once you start working on your business full time, the early stages will mean a very heavy time commitment to get things done.

These are just a few starting points to consider. Starting a business is extremely difficult, but even if you fail (I did it the first time and am still trying), it will be a very important learning experience in the long run.

You also mention that you have a good job; If money allows, you can hire some freelancers once you've figured out all of the above to help you develop your first product so you can keep things low-risk for yourself.

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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I remember talking to Jeroen, my fellow co-founder and VP of Engineering. Jeroen smiled at me and said, "I'm in line at the market and I just want everyone to start moving faster!" That never happened to me. Then we both laugh. The key is to recognize that you are changing. You want everything to move at the same speed as your business: FAST! But remember not to lose patience with your spouse and your family. Here are 17 other crazy and surprising things that you probably g ...

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