From Employee to Entrepreneur: When to Take the Leap

An 8-5 job won't make anyone richer. It can't create wealth- wealth that you can pass on to your children. It may not also serve your passion. You work hours a day and travel to and from work for another hour, without that feeling of satisfaction. Most of the time, it's simply because you have to endure the long unsatisfying working hours to be able to pay for the bills and live day by day. These are the very main reason why some take a leap to leave their corporate job and start a new business or found a startup.

While doing so gives that sense of fulfillment that is beyond comparable to being employed, one has to be guided as to when is the right time to take the leap. This is to ensure that you're designing your future to success and not paving a way turning your life into a nightmare full of regrets.

So when really is the right time and what do you have to consider before jumping over the fence?

1. Know what you wanna do. Leaving your work early without any concrete plans ahead, or without any idea on what you are passionate about will get you nowhere. It may leave you cashless for months and you will have a hard time coping up with the bills to pay. End result? You may decide to find another job to sustain your lifestyle, while, again, thinking of what business/idea you want to pursue.

2. Have extra cash to start the business/startup and to sustain your daily needs. While it's true that you can raise investments to fund your idea, it is also true that this may take a while after your business has taken off the ground. You may still spend on company registration, your first few employees, office and other overhead costs. On top of these, you may still worry about your cash depleting to support your daily expenses. So better make sure that you have enough in your pocket before diving into this world of entrepreneurship.

3. Be decided. Doing a business is never easy. It takes a lot of persistence, hardwork and sleepless nights. It's not easier than a corporate job- no one says so. So it is extremely important that you have totally made up your mind, 100% percent that you wanna do this and you wanna take the risks associated with it. There may be failures along the way, you just have to remain persistent.

4. Prepare yourself for failure. Nothing of today's success was built overnight. If you feel like that you are not yet ready for a big fall or you can't take your business not flying as expected, then don't rush. You can still learn a lot about failure in your corporate job that you'll eventually need in running your own venture.

5. Consult your family and friends. You may be doing the leap for yourself, but having a strong support system at your back and at your side will greatly help you in the journey. Take time to talk about your plans with your family or friends to get valuable feedback- to validate your business idea as well. You may never know what doors it can open for you. A friend may want to collaborate. A friend may connect you to your early client. A family member may want to co-invest. Nothing to lose, all to gain.

This is my personal list and is based on my personal experience. So feel free to add yours on the comment section.

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