Every day, we see social media influencers and motivational speakers trying to convince people to quit their 9-5 jobs and embrace entrepreneurship. Unfortunately, most of them don't mention how difficult this transition can be.
Instead, they make it seem like these jobs are holding you back from making millions and living the life of your dreams. But before you leap, you really should know what you're jumping into. Is it the right call?
Should you quit your 9-5 just like that, especially considering the job security that it offers you? Let's talk a bit about what many people don't talk about. Here are five reasons you should not just jump away from the corporate world.
Business uncertainties
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The biggest advantage of 9-5 is the guaranteed salaries that come with it. While you're tasked to build the firm in any way possible, your earnings often do not depend on how well the company is doing financially.
However, for business owners, income is dependent on so many things, especially when starting. Some months will not work out as planned, and that's a big challenge on its own. Taking the time before quitting your 9-5 job can help you save enough to navigate any uncertainty.
Financial stability
Your typical 9-5 job definitely offers you enough stability to build your own business. However, most new businesses do not automatically begin generating income until certain things are set in place. Unfortunately, setting these things up takes time, and there's no guarantee that it'll even work.
Less pressure and more creative opportunities
The entrepreneurial journey is never an easy one. In fact, as a new entrepreneur, you'll face so many challenges, including the pressure to achieve success as soon as possible.
There's no better way to relieve this pressure than staying on your 9-5 a bit longer.
Remember, relying solely on your business for income makes every decision high stakes. Thus, you can become prone to making the wrong financial choices because of the pressure to succeed at all costs.
On the other hand, a stable paycheck will allow you to take calculated risks and make thoughtful decisions since you always have money to fall back on.
Responsibility
As the business owner, you're accountable for everything, from decision-making to problem-solving. The weight of these responsibilities can sometimes be overwhelming, causing burnout and affecting your motivation.
However, in the corporate world, you're not responsible for most decisions. You only have your work to do, while you leave the rest for other experts who are responsible for handling it.
At the end of the day, it's not a bad thing to quit your job for a business idea. However, it is also not a bad thing to remain in your job. It boils down to preference and how you can manage the risk of both offers.
So don't just jump on the train. Sit and consider the pros and cons of both options before making the leap.
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