🕒 Reading 3 min 
Being self-employed: a revolution in your life With plenty of ideas in your head, you are ready to take the leap and leave your job to start your business. But is it really such a good idea? Is it reasonable to jump without a parachute?
Further reading : How to Learn to Negotiate?
Summary
- Analyze your situation
- Find a compromise
- When can we start?
Analyze your situation
The first step before declaring your business and diving in is to conduct a little analysis of your situation, especially financially.
Recommended read : How to arrange a house?
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With a salary of €35,000 per year, you can afford a few extra expenses, pay your mortgage without your bank account looking like Swiss cheese, and ensure your family has a decent standard of living. Once you become a business owner, things are likely to be quite different, at least initially.
If your annual income is cut by 3, 4, or even 5, how will you manage? Who will pay the mortgage you took out? How will you find the resources you need to survive?
In short, without wanting to demoralize you from the start, leaving your job without a safety net can be catastrophic. So what to do when the desire to start a business is heard a little louder every day?
Find a compromise
Between being an employee or an entrepreneur, there is a balance that might suit you well. So rather than diving in headfirst, perhaps you could first test the viability of your business.
How? What if you started your business by working on it only in the evenings or on weekends? This way, you will see how things evolve, you will find out if the market is a carrier, and you won’t take any risks except for the one of daring!
It is true that this double pace can be tiring, stressful, and you will have to put in a lot of effort. But isn’t this kind of stress, in a healthy way, better than negative stress from a long departure or lack of revenue?
And then, this situation is not meant to last, since your goal is to test your business calmly and under the best conditions before resigning from your job with your head held high.
When can we start?
Once you are certain that you can generate enough income to pay yourself a decent salary, you will be able to let go of the ballast.
To avoid moments of unbearable tension due to a lack of clients, and therefore money, it is better to be patient. Take the opportunity to set aside the money earned from your business. It will undoubtedly serve you when you start full-time on your project. A little cushion that will feel comfortable when the time comes!
Moreover, if you realize that your income continues to grow and the market is really good, you can also start with more peace of mind. If, on the other hand, you struggle to meet your set goals and your revenue is irregular, perhaps the wisest thing is to wait a little longer.
Will you leave or not? With these few pointers, it’s up to you to think about your situation and see if you are ready (or not) to take the big plunge!
I also invite you to complement this reading by discovering the experience of an international employee who successfully transitioned to working independently from home: the true story of Nassim.
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Tag: starting in self-employment