You most likely understand the implications of starting your own business. A large amount of risk is definitely involved, including the potential for severe financial setbacks, but above all, you need to have a strong entrepreneurial spirit. If you’re reading this article, you probably have dreams of starting your own business. It’s fine to dream, but in the real world, you need to have some incredibly good reasons to ditch your day job and work for yourself.
When you think “good reason,” it needs to be more substantial than blanket value judgments like “my clients are horrible” or “I hate my boss.” For the majority of people, quitting a job isn’t a light decision. Valid reasons for quitting a job might include the position’s effect on one’s health, a mismatch of qualifications, or simply feeling unfulfilled in your 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 extremely important, so this should be one of (if not the most) valid reasons to quit your current job. Stress can cause a number of unhealthy medical conditions. If you feel your job is unbearably stressful, to the point that it compromises your ability to lead a normal and productive life, it’s time to start thinking of a career move.
Start by analyzing the reasons why you are stressed, and see if you can find ways to eliminate these factors before you’re compelled to quit your job. If you find no remedy, it’s a perfectly good reason to take the plunge into self-employment. In situations like this, money and lifestyle concerns should be low on your list of reasons to keep your job, since no amount of money is worth compromising your quality of life.
2. You Have Gone as Far as You Can Go
In some positions and companies, there’s a limit to how high you can climb the ladder. And if you’re lucky enough to reach 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 aspire to go beyond your current position but feel your superiors or the company is holding you back from reaching that next level, then your current company isn’t the place for career advancement. If you are certain that you can accomplish more for your career by being your own boss, then it’s probably time to move on.
3. You Just Feel the Need to Be Your Own Boss
Some people feel destined to lead, and the thought of following someone else’s vision doesn’t appeal to these leaders. These types of people often end up being entrepreneurs.
If you have an unshakable need to be your own boss, it’s time to start thinking of what that would look like. But don’t quit your job based on the euphoria of your own imagination. Sure, you’d have control over business decisions, goals and strategies, but you’d also be responsible for your own survival as well as that of your potential employees, and few people can shoulder that type of pressure. However, if that is something you are comfortable with and can handle, and you desire more control over your career, then leaving your current job to work for yourself is definitely something to consider.
4. You Desire Greater Job Flexibility
One great aspect of working for yourself is its flexibility. It allows you to choose when you work, where you work, how long you work and with whom you work. Having this type of flexibility can go a long way toward increasing job satisfaction, which may be impossible to achieve at your current position. If one of your options is to become a freelancer or a consultant, or if you can complete your work over the internet, you could even do your job from anywhere that has a suitable Wi-Fi connection, including your home. Some professions and industries are more conducive to this type of flexibility, so be sure to do your homework before making the 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 novel, this may indicate that your professional development has become stagnant. Being bored with your current role is also a clear indicator that it is time for a new challenge. If it’s apparent that there’s nowhere to go for new knowledge and stimulation at your current company—or any other company, for that matter—you should consider leaving and working for yourself. Before you do, however, carefully weigh all of your options. Sometimes, moving laterally to a new department or a new company will give you the challenge and satisfaction you need without the uncertainty and risks of entrepreneurship.
6. You Want to Be a Job Creator
This is applicable if you want to build a growing business, one that will have multiple employees that you can lead and manage. Starting a company that can have a positive impact on people’s careers and livelihoods is a great accomplishment. If you are in a position to make this happen, whether that’s determined by available capital or an extremely competent business plan, you may be the person to do it. Just remember that you will need to have exceptional leadership skills and be able to cope with the challenges that every startup will face.
7. You Are Up for the Challenge of Entrepreneurship
As described throughout this article, becoming an entrepreneur is only for a select few who have the desire and the drive to work through the uncertainties of starting a business. Main Street is filled with people who have tried and failed as a result of poor planning and weak willpower. But if you feel that your current experience lends itself to striking out on your own, you should consider the pros and cons of leaving your current job and becoming your own boss.
After thinking long and hard about your decision to become an entrepreneur, there are some serious steps you need to take to get there. Check out this great resource to get your business started in the right direction.