077 - Should I Quit My Job To Run My Business Full Time?
In this episode of the Mind Money Soul podcast, I’m going to be sharing 4 things to consider when you’re debating whether to quit your job to run your business full time.
I get asked this question often and it’s something I’m able to advise on from a financial expert perspective and also on a personal level, as I quit my long-term job fulfil my souls calling and pursue my career. In today’s episode I share my story, how I built Mind Money Soul as a side hustle and how I successfully turned my passion into a full time business. It’s not as simple as waking up one day and deciding you want to quit your job. There are important elements to consider if you’re serious about creating a profitable, sustainable business.
There’s a narrative that 9-5’s suck and being a business owner is elite, but sometimes the grass isn’t always greener. As an employee, the benefits can be very attractive - a workplace pension, the security of a salary, work perks, the support and companionship of having colleagues. That said, the freedom that comes with being self-employed is incomparable. It’s important to remember that not everyone is cut out to be an entrepreneur, business owner, founder or freelancer and often you won’t know until you try - maybe you’ll love it more than you ever imaged or maybe you’ll realise it’s not for you. The key thing is to ensure you’re going into this process mentally and financially prepared.
In this episode:
How I created my business as a side hustle
4 things to consider before you quit your full time job
How to feel supported by your emergency fund
How to project your income and expenses
How to identify if your business is sustainable
The importance of mindset work and mental preparation
How to successfully turn a passion into a business
Resources
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Get a copy of my FREE Monthly Spending Planner Template
Get a copy of my FREE Money Date Template
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