10 Things You MUST Do Before You Quit Your Job to Start Your Own Business | DO 78

Freedom Possible

Start Your Own BusinessStarting your own business is a big endeavor, especially if it’s your first business. Business ownership comes with certain risks, especially in the beginning. However, starting a business and its inherent risks are nothing to fear if you take some specific steps prior to diving in head first. On this episode, Matt shares 10 things that you MUST do prior to quitting your job and starting your own business.

This episode is part of our Freedom Possible series, so if you haven’t already done so, get up to date with the series by using the links in the Resources section below.

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10 Things You Must Do Before Quitting Your Job:

  1. Know why you are quitting.
  2. Make a list of who else this decision will affect.
  3. Make a list of what you’ll be giving up (besides money).
  4. Redesign your lifestyle to make room for your business.
  5. Decide how much money you will need for basic expenses for 9-12 months.
  6. Check your attitude.
  7. Get a mentor and create a supportive environment.
  8. After completing 1-7, set a deadline to quit your job.
  9. Run your business at a profit part-time.
  10. Leave your job on excellent terms.

 

You’ll Also Learn:

  • What Matt believes the biggest risk in life is.
  • The fuel that will keep you moving when you come up against obstacles.
  • Why you should give those around you advance notice of your quitting.
  • Why you need to decide what you are willing to give up during the transition.
  • The reason you should design your lifestyle in advance of quitting.
  • Why you may want to open lines of credit before you give up your job.
  • How a sense of entitlement has been engrained into many employees; and
  • Why you MUST shift your attitude if you want to be an entrepreneur.
  • How to love the short end of the stick.
  • The formula to getting rich with your business.
  • Why you probably need to upgrade your environment.
  • What you should do if you can’t find a perfect mentor.
  • Where you will get accountability once you no longer have a boss.
  • The types of clubs and associations you should join.
  • Why you should work with your mentor to tweak your roadmap; and
  • What you should include in it.
  • When you should begin working your business in your spare time.

 

Resources Mentioned in this Podcast:

 

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