Are You Ready to Quit Your Job?

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For years, I dreamed of the day when I would tell my employer I was tired and done, and leaving for a dream work situation. This dream was just my dreams until I realized that I was going to have to take action if my dream were ever going to become a reality. It took two and a half years, but I was able to quit. I now live a life I mostly love.

I know that are many people who read my blog, and in general in society today, that would love to quit a job they hate. Many do quit but do it prematurely and risk turning their dream into a nightmare. I have had new coaching clients come to me when they quit without a plan; it is not a place of strength. Before you quit your job, make sure you have a foundation of these four things.

1. Have an emergency fund in place that can get you through most unexpected circumstances.  

The stats on Americans and emergency funds are scary. Most emergencies would wipe the average person out. If you are thinking about quitting a job, the emergency fund should be even larger than the standard. You should have an emergency fund that withstands the inconsistency in income that sometimes comes from owning a business—especially a lifestyle business.

I can’t tell you what the magic number is, I can only tell you to be prepared for anything. Having a strong mindset is important, but that doesn’t mean you ignore common sense. I’m not telling you to wait until you are a millionaire, but I am saying have something to fall back on.

2. Have a proven and consistent income situation in place.  

Just because you make a couple of bucks for a few months doesn’t mean you have a proven lifestyle business. This kind of business can be a roller coaster ride if you don’t know what you are doing. You can make a lot of money quickly and make nothing the next month.

Make sure your lifestyle business has a track record of making money for more than just a few months. Make sure that you have multiple streams of income. Don’t be dependent on any one thing for your income or you could be in a bad place if that one thing vanishes. Let your lifestyle business prove itself before you quit your job. 

3. Have a clear plan for growth each year.

In addition to already making money, you need a plan to grow the dream. What works today doesn’t mean it will work tomorrow. You need to be diverse and think of your business as a business. Spend some time planning marketing strategies that will bring new business. Spend time planning how you can diversify your income even more. 

4. Don’t get lazy.

You work very hard when building a dream on the side. You need to keep that same work ethic even after you are living the dream. You can get tired and frustrated on this journey. You can take a break. You can regroup and re-plan, but never get lazy. 

Life would be great if everything worked out just like it does in the movies, but that’s not a reality. You have to be smart before you do something that could ruin your life or the life of your family. Have a strong foundation in place and then quit your job for something you’ve always dreamed of doing. It took years, but I did it. I am confident you can, too.

Are you working on quitting your job?

P.S. I had no wifi yesterday in my home in Medellin, Colombia. This meant that I could not host my Lifestyle Business 101 Masterclass. The class will now be three hours and on Tuesday night, June 14th. Everyone who takes the class will now have access to all of the samples documents and PDF’s.

The class will teach you how to write for large publications, how to book paid speaking, how to book consulting at companies, and how to create consistent and scalable income in your lifestyle business. If you want to take the class or just get the recording and docs, email me at kconstable29@gmail.com for next steps.

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Photo: Flickr/ .samm