One of the biggest risks an entrepreneur faces is having no income to pay his expenses . We are not just talking about business expenses (because now you know you can minimize them) but your personal expenses, which would be your “salary”.
This is very common, no business is born with everything resolved nor will you get rich overnight. So prepare yourself. The good thing about keeping your job is that it allows you not to worry about money (because you have a pay every month) and this also helps you to inject investments into your business when you need it.
Stabilize your business before leaving your job
The downside is that, at least until the last time I checked, the day is only 24 hours. The best thing is that you can use tip number 1 and organize yourself to launch your business and stabilize it before leaving your job. This can take months or a few years. The decision is always yours. Perhaps your business does not need to be giving you the same income that you had in your job, but rather it is giving you the minimum level of expenses that you must face and a little more for unforeseen events. That means stabilizing it. That you already know how much you can earn per month approximately with this “level” in which your business is located and what effort it requires. When you leave your job or reduce the hours you are employed for others, you will have more time to dedicate to your business, which represents a new investment in it.
If you no longer have a job or if you cannot do both at the same time, you can get a part-time job or also called “bridge jobs = bridge jobs”. This will allow you to have the time to dedicate yourself to your business, that it works and make it grow, at the same time that you don’t worry and you are not aware of the income instability that you will have at the beginning.
Prepare to ever fail
Whoa! I’m already imagining what you’re thinking. When I talk about “failing” I mean that most likely not everything will come out the first time .
The preparation that I want you to consider in this case is mental and emotional. That a strategy does not work, that a client, or a dozen clients do not buy from you, that a result is not as you expect, does not mean anything. Or rather, it means that you do not reach your goal along that path, and you have to make a small detour. No one says to abandon the road, nor to look for a tangent. But you must vary something and try again. That is my advice. Prepare to fail again and again, and then get up, learn from your mistake, and try again . The only way for failure to win is for you to learn nothing from error.
These tips help you organize and prepare for the wonderful adventure. It is not at all my idea to dismiss your desire to undertake or to give up your dream. But you can’t imagine going climbing the mountain without the necessary equipment, right? It is all a matter of preparation.