A permanent employee who plans to resign to pursue self-employment needs to consider important matters before quitting a day job. These considerations are tabled, to be given serious thoughts and acted on, where necessary.
It is important that these considerations are seriously assessed and evaluated before a decision in quitting a day job can be finalized.
1. Assess Personal Situation
A self-evaluation is necessary. Evaluate your abilities, skills and education to decide whether you need additional training. It will also be helpful to seek advice from trusted people like professional friends and family. Ask yourself and these people if you have something to offer as a business owner. There are characteristics of a good leader and successful business persons. Study the readiness checklist for small business starting up and gauge how you fare, especially in terms of self-discipline, setting goals, planning and flexibility.
2. Consider Present Job
Find out from current employer about benefit plans, and factor this out in your own plans. On physical well-being, especially if the company has employee health benefit schemes or insurance, this is the time to ensure you schedule routine physical, eye and dental examinations.
Resumé and/or CV should be kept updated. If there are available company-offered courses or training, this is the time to attend to undergo these development and learning programs.
3. Evaluate Financial Status
Do you have enough savings to live by should you resign your day job? Do you have good personal credit? If not, do something about it while still employed by establishing yourself accordingly. Save some money for planned self-employment business. Some career advisers recommend a savings of at least two years’ worth of living expenses, before resigning to start your own job. It is advisable to find out from human resource personnel about current possible employee benefits as a matter of information. At this point, there’s no need to reveal or elaborate any plans of leaving.
4. Discuss Plans with Partner and/or Family
Family preparation is important especially for someone who is head of the family. The matter should be discussed with the partner or with other family members old enough to participate. Anyone who plans to change career from a permanent job to self-employment could have a great impact on everyone in the family. What they have to say is vital in your decision. Their support will be needed.
These practical tips will greatly help in decision-making when considering quitting a day job. It is also important to research and learn thoroughly things entailed in a major career change, including self-employment, the career you want to venture on. If necessary, a career adviser can be consulted.