Comments on: When Do I Quit my Job to Start my Business? http://upandrunning.bplans.com/2008/01/24/when-do-i-quit-my-job-to-start-my-business/ Start, Run, and Grow Your Business Sun, 12 Feb 2012 19:52:21 +0000 hourly 1 http://wordpress.org/?v=3.3 By: DwayneLattimore.com http://upandrunning.bplans.com/2008/01/24/when-do-i-quit-my-job-to-start-my-business/#comment-138 DwayneLattimore.com Mon, 28 Jan 2008 02:41:56 +0000 http://upandrunning.entrepreneur.com/2008/01/18/when-do-i-quit-my-job-to-start-my-business/#comment-138 "Review your estimates: sales, costs, expenses and, most important, cash flow. No dreaming at this point. Do your numbers well. Be conservative." That was absolutely some of the best advice I've heard in a long time. For years I've always thought in that exact manner but not too excessively. If you begin to believe that your venture isn't going to be profitable, beginner investors will most likely scare themselves out doing business at all. No matter how many calculations you do, it's always a risk. Great advice! Dwayne Lattimore “Review your estimates: sales, costs, expenses and, most important, cash flow. No dreaming at this point. Do your numbers well. Be conservative.”

That was absolutely some of the best advice I’ve heard in a long time. For years I’ve always thought in that exact manner but not too excessively. If you begin to believe that your venture isn’t going to be profitable, beginner investors will most likely scare themselves out doing business at all. No matter how many calculations you do, it’s always a risk. Great advice!

Dwayne Lattimore

]]> By: Uton http://upandrunning.bplans.com/2008/01/24/when-do-i-quit-my-job-to-start-my-business/#comment-137 Uton Sun, 27 Jan 2008 21:55:39 +0000 http://upandrunning.entrepreneur.com/2008/01/18/when-do-i-quit-my-job-to-start-my-business/#comment-137 Timing is key. You can have an amazing idea or business plan but you or your customers may not be ready. Personal finances can hinder your "Leap of Faith" or if you are trying to introduce your new product or service to your customers they not be entirely sold into your idea and you have to let it cultivate into your market. A suggestion is to incubate your business venture while working currently at your 8-5 job. Without completely risking your finances you will have to work two jobs to crutch your business to success. Basicially, you are testing the water out and running your business at a small scale until it cultivates into a cash cow. Once you are forced to quit your 8-5 job to devote your 100% attention to build your business and to services your clients/customers that is the time to say adios to your 8-5 job. This concept is not new but you're building your wings on the way down and you have the ability to control the speed and direction. You can protect yourself without putting the business in jeopardy of any forseeable failures you may be able to avoid. Keep in mind that you will still have to take some level of risks. Seize the opportunity when the timing is right and act on it! Timing is key. You can have an amazing idea or business plan but you or your customers may not be ready. Personal finances can hinder your “Leap of Faith” or if you are trying to introduce your new product or service to your customers they not be entirely sold into your idea and you have to let it cultivate into your market.

A suggestion is to incubate your business venture while working currently at your 8-5 job. Without completely risking your finances you will have to work two jobs to crutch your business to success. Basicially, you are testing the water out and running your business at a small scale until it cultivates into a cash cow. Once you are forced to quit your 8-5 job to devote your 100% attention to build your business and to services your clients/customers that is the time to say adios to your 8-5 job.

This concept is not new but you’re building your wings on the way down and you have the ability to control the speed and direction. You can protect yourself without putting the business in jeopardy of any forseeable failures you may be able to avoid. Keep in mind that you will still have to take some level of risks. Seize the opportunity when the timing is right and act on it!

]]> By: James White http://upandrunning.bplans.com/2008/01/24/when-do-i-quit-my-job-to-start-my-business/#comment-136 James White Sun, 27 Jan 2008 01:29:31 +0000 http://upandrunning.entrepreneur.com/2008/01/18/when-do-i-quit-my-job-to-start-my-business/#comment-136 I started a business but, since I've been at work most of the time, it hasn't picked up due to situations. My income is scarce but I know if I take the time off work or just let it go I'll be OK. I started a business but, since I’ve been at work most of the time, it hasn’t picked up due to situations. My income is scarce but I know if I take the time off work or just let it go I’ll be OK.

]]> By: Takeoffzone http://upandrunning.bplans.com/2008/01/24/when-do-i-quit-my-job-to-start-my-business/#comment-135 Takeoffzone Sat, 26 Jan 2008 02:36:08 +0000 http://upandrunning.entrepreneur.com/2008/01/18/when-do-i-quit-my-job-to-start-my-business/#comment-135 It is important to be objective and cold analyzing the pros, cons, and all the facts when the time comes to decide what course of action and direction to take. Simulating an extreme scenario can be helpful: What would happen if you cut the sales completely for 6 to 12 months instead? Ouch! - Javier. It is important to be objective and cold analyzing the pros, cons, and all the facts when the time comes to decide what course of action and direction to take. Simulating an extreme scenario can be helpful: What would happen if you cut the sales completely for 6 to 12 months instead? Ouch! – Javier.

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