Can you quit your job to focus on your business?

[WhiteHouse]

Consider writing a business plan for your side business using realistic numbers from your history.

Set realistic goals and priorities.

Can you afford to live on that income as it is today? What about benefits? You'll have to replace those that your current employer provides.

Sit down with your financial planner and tax consultants to get their insights.

Identify the team you will go to for support--accountability partners if you will.

Think about all the advice your receiving, assess what is appropriate and then make your decision based on your needs, your plans, your priorities.

 

[Klashlly]

Can you quit your job to focus on your business?​

No i can not quit my job to run my business?
Don't be too quick, however, to abandon your day job to pursue your entrepreneurial dreams. ... After all, quitting a job to pursue business is risky, especially without having a safety net in place. In fact, the majority of people who decide to start an online business will fail within the first year.

 

[Asad Ali]

This would be a very difficult question or a difficult step because the job would be permanent.By the way, if there is a government job, I will give preference to the job. But if it is in a private sector, I will leave the job and give priority to business.Business breeds generations, while jobs cover only household expenses.

 

[Klashlly]

Can you quit your job to focus on your business?​

No i can not quit my job to run my business?
Don't be too quick, however, to abandon your day job to pursue your entrepreneurial dreams. ... After all, quitting a job to pursue business is risky, especially without having a safety net in place. In fact, the majority of people who decide to start an online business will fail within the first year.

Of course, if you're making enough money to allow you to quit your 9-5, you absolutely have to! It's inevitable. There's no way you'd be able to hold down a regular 9-5 AND effectively run your business. If you even tried, you'd run the risk of crashing and burning out, which would lead to you taking your eye off the ball, and one or both your business and job would suffer.

 

[Richard92]

Yes! I can quit my job and focus on my business, if my business pays more than my job. It is better to be a business owner than an employee, so if you as a worker has a business that pays more than your salary the best to do is to quit the job and focus on your business.

 

[Gilead]

I won't even think twice about it. No one wants to be ordered around all their life. People want to make money easily and comfortably and staying in a job won't give you such comfort.So you do business that pays you..

 

[Josemendez]

It's said that one needs to get different streams of income in order not to get disappointed when one fails, but I want us to consider a situation whereby an individual makes enough money from his business much more than his monthly income from his job.
Is it advisable for such an individual to quit the job and focus on growing the business?

If you are in this situation, would you quit your job?

Ofcourse , who wouldn't want to be a boss of himself ? . If I am the one , I will definitely choose to focus on my business , make it grow more . However if I have someone that can manage the business for me , I won't quit my job . I will thus have two different source of income , which makes things easier and better for me .

 

[Kamon c4]

Any business that yields very huge profits requires maximum attention. Combining a 9-5 job with your business may be stressful and streinous. As for me, if my business yields high profit and can cover my monthly expenses. I’ll be glad to quit my 9-5 job.

 

[idhans]

I can quit my 9-5 job if my side gig or business earns me more than the job pays me, it'll only be more productive if i take out time and focus on the business. We have seen persons who transitioned from their jobs into their businesses so there are lessons to learn there.

For me I think it all depends on the type of profession you are in. For instance if you are a professor in the university, a medical director in the general hospital, or you are in mainstream journalism, it can be very difficult to manage a business no matter how profitable is the business.

 

[Highflyer]

I choose business over paid job anyday, flexible working hours, being my own boss and several other advantages,business can be challenging but very rewarding at the same time if done well.

 

[Chumzy]

Yes I can, but a lot should have been put in place. The business has to earn me twice the salary you receive? I just felt that the salary is enough. So, quitting my job for a business is possible if the business is old and pays me well

 

[Sariana23]

I don't really quit, I have a part time offline job that gives me the opportunity to do business part time. On the other hand, the company may be booming for a time and may remain passive at another time, which does not generate the same profits. Here with the pandemic we have an example.

 

[Donkiz]

This depends on the type of job and the nature of business involve, before trying to quit I will first check if the job affects/interfere with the time I put in the business. If it turns out that the job does not affect the business in any way, I will not quit until I have another stream of income to go with the business, but if it affects the smooth running of the business, I will quit the job.

 

[tuna89]

This is not the time to quit my job at all as the job is a good one, the job prevents me from using the business profits to run my expenses, this method has proven good because it enables the growth of the business and also availability of multiple income sources.

 

[GeneBiz]

Well, assuming that this individual's business is generating sufficient profits and is already well established and consolidated, and assuming that this business's earnings are higher than the monthly income earned in his full-time job, then it is clear that the best decision would be quit work and dedicate and focus fully on the business, in fact, I think that is the main objective of every entrepreneur, to consolidate their business to achieve financial independence.

It's said that one needs to get different streams of income in order not to get disappointed when one fails, but I want us to consider a situation whereby an individual makes enough money from his business much more than his monthly income from his job.
Is it advisable for such an individual to quit the job and focus on growing the business?

If you are in this situation, would you quit your job?

 

[Adexgrace]

Definitely, I could quit my job to focus on my business do I will be a good entrepreneur. My business matters a lot to me and the success of my business is my success SO I don't see any reason I shouldn't focus on it.

 

[Trexxxy]

Without a moment's thought. If the person in question is working 9-5 and still somehow manages a business that earns more than his salary, what if he/she quits then focuses or diverts time and energy into then he/she will make double if not triple.

 

[chicnthin]

It depends on how well your business is doing. If your profits can cover your business expenses and personal expenses, I think it's fine to focus on your business. Or you can still continue your job, maybe take a part time job so you can still have a different source of income

 

[Bookwormlux1]

Well, assuming that this individual's business is generating sufficient profits and is already well established and consolidated, and assuming that this business's earnings are higher than the monthly income earned in his full-time job, then it is clear that the best decision would be quit work and dedicate and focus fully on the business, in fact, I think that is the main objective of every entrepreneur, to consolidate their business to achieve financial independence.

You are right. At this stage of the person's life, it would be disastrous to still hold on to his job. The stress from workplace could make you really exhausted that you won't get to expand your business as you should. The pressure from bosses at workplace is another important thing that needs to be considered. Nothing beats being your own boss.

 

[Damismiling]

In this case, leaving that Job first is the best, as far as you are getting more money from it, quit your job, but also when you venture into that business fully, gather more source of income , invest in some other things