Every creator and entrepreneur dreams of one day quitting their job to commit full time to their true passion, but when is the right time to do this?
It’s easy to trick yourself into thinking that if you could just spend 40 hours a week working on your business idea, then you would be successful. But what if you’re not? What kind of risk can you expose yourself to?
In this episode we uncover when it’s the right time to finally go full time with your business. There’s a lot you can do while still having other commitments (like a job).
From spending your free time on becoming a domain expert to validating your idea with real customers, your job is to remove as much risk as possible before taking the “plunge.”
Many entrepreneurs and creators only transition to full time when they have too much demand to work on their ideas part time. Everyone’s financial and personal situation may vary, but your willingness to do the hard work up front can be a good indicator of your willingness to work through the difficult times of running your own venture.
We talk through our personal stories, and give you examples of other successful entrepreneurs that took the time to validate their ideas before quitting their jobs. We also give you a framework for how to go about quitting your job when the time finally comes.
- 2:15 Making the case for quitting your job
- 2:41 Finding the time in your day to make progress
- 2:52 Making business calls in the bathroom
- 4:23 Get off of Facebook and educate yourself
- 6:20 Validating a business while having a full time job
- 8:58 Being willing to work for free
- 11:00 How can you add value and get experience?
- 12:00 ZestTea and Ash & Erie - What to do before you quit
- 13:19 Derisking the opportunity
- 13:55 Are you willing to do the hard work?
- 14:25 When is it time to quit?
- 15:37 Do you have a repeatable process for getting sales?
- 16:30 Having enough financial runway
- 20:00 Living with your parents
- 22:40 How to quit your job tactfully
- 24:00 Maintaining a good relationship with your employer
- 25:10 Be prepared - know the laws and rules
- 27:10 Helping as you transition out
- 27:26 What not to say when you're quitting your job
- 29:30 How to tell your boss you're quitting: https://www.youtube.com/watch?v=o0RmVnJcNpE&t=2s