You most likely understand the implications of starting your own business. There is certainly a large amount of risk involved, including the potential for serious financial setbacks, but above all, you must have a strong entrepreneurial spirit. If you’re reading this article, you probably have dreams of starting your own business. It’s okay to dream, but in the real world, you should have some incredibly good reasons to quit your day job and work for yourself.
When you think “good reason” should be more important than blanket value judgments like “my clients are terrible” or “I hate my boss.” For most people, quitting a job is not an easy decision. Legitimate reasons for leaving a job can include the position’s effect on one’s health, a mismatch of abilities, or simply feeling unfulfilled in one’s current position. Here are seven reasons to quit your job and work for yourself.
1. The stress of your job affects your health
Your health is of the utmost importance, so it should be one (if not the most) valid reason for leaving your current job. Stress can lead to many unhealthy medical conditions. If you find that your job is unbearably stressful, to the point that it compromises your ability to live a normal and productive life, it’s time to consider a career.
Begin by analyzing the reasons why you are stressed, and see if you can find ways to eliminate these factors before you are forced to quit your job. If you can’t find a solution, this is a good reason to take the plunge into self-employment. In situations like this, money and lifestyle concerns should be low on the list of reasons to keep your job, because no amount of money is worth compromising on your quality of life.
2. You’ve gone as far as you can go
In some positions and companies, there is a limit to how high you can climb the ladder. And if you’re lucky enough to have reached the point where there’s no room left to grow in your current organization, working for yourself may be the most sensible next step. If you wish to advance in your current position but feel that your superiors or the company is holding you back from reaching that next level, then your current company is not the place for career advancement. If you’re certain that you can accomplish more for your career by being your own boss, then maybe it’s time to move on.
3. You just feel the need to be your own boss
Some people feel that it is their destiny to lead, and the idea of following someone else’s point of view does not sit well with these leaders. These types of people often become entrepreneurs.
If you have an unshakable need to be your own boss, it’s time to start thinking about what that would look like. But don’t quit your job based on the excitement of your own imagination. Sure, you’ll have control over business decisions, goals, and strategies, but you’ll be responsible for your own existence as well as that of your potential employees, and few people can handle that kind of pressure. However, if it’s something you’re comfortable with and can handle, and you want more control over your career, then leaving your current job to work for yourself is definitely worth considering.
4. You Desire Greater Job Flexibility
A great aspect of working for yourself is its flexibility. It allows you to choose when you work, where you work, for how long you work, and who you work with. Having this type of flexibility can greatly increase job satisfaction, which may be impossible to achieve in your current position. If one of your options is to become a freelancer or consultant, or if you can complete your work over the Internet, you can do your work from anywhere that has a suitable Wi-Fi connection, including your home. Certain professions and industries are more conducive to this type of flexibility, so be sure to do your homework before making a commitment to work for yourself.
5. There is nothing new to learn
If you consistently find yourself with the same tasks every week, but you crave something different and new, it could be a sign that your professional growth has stagnated. Being bored with your current role is also a clear sign that it is time for a new challenge. If it’s clear that there’s nowhere to go for new knowledge and excitement at your current company—or any other company, for that matter—you should consider leaving and working for yourself. However, before you do, carefully weigh all your options. Sometimes, moving to a new department or a new company will provide the challenge and satisfaction you need without the uncertainty and risks of entrepreneurship.
6. You want to be a job creator
This applies when you want to build a growing business that will have multiple employees that you can lead and manage. Starting a company that can make a positive impact on people’s careers and livelihoods is a great achievement. If you’re in a position to do it, whether it’s dictated by available capital or a very competent business plan, you may be the one to do it. Just remember that you must have exceptional leadership skills and be able to meet the challenges every startup faces.
7. You are up for the challenge of entrepreneurship
As mentioned throughout this article, becoming an entrepreneur is only for a select few who have the desire and drive to work through the uncertainties of starting a business. Main Street is full of people who tried and failed because of poor planning and weak will. But if you feel that your current experience lends itself to breaking out, you should consider the pros and cons of leaving your current job and becoming your own boss.
After you’ve thought long and hard about your decision to become an entrepreneur, you’ll need to take some serious steps to get there. Check out this great resource to get your business started in the right direction.