Should You Quit Your 9-5 And Go Full-Time in Your Business


If last year has taught us anything, it’s that: We are able to do good work form home.


There is no limit to how you can create a profitable business working from home.

 If you have an Instagram or Facebook, you probably have seen friends or random people starting “side hustles” or something of that nature. If you have been thinking about going full-time in your business, here’s what you need to know before calling it quits at the day job!


Are You Generating Enough Money

Have you already started generating revenue with your own business? Working your regular 9-5 job pays your bills. Your own business needs to be able to sustain you and your expenses. Many financial advisors recommend having 3-6 months in savings at all times. This could be especially useful if you plan on going further with your own business, as your savings can potentially serve as a cushion while you become more profitable. This extra cash will allow your focus to remain solely on the growth of your business instead of the need to make ends meet at home. 


I get it! You are eager to go full-throttle into your passion project and really scale your business. You are probably thinking that your day job is taking away from the growth of your own business. So, do the math on your expenses. Speak with a financial advisor if needed. If you have the means to pay all your bills in your side hustle, then it may be time to quit your day job and go full-time in your business. 


Do You Have Existing Debt

The glitz and glamour of working for yourself with your own business is the flexibility to work when you want, and the freedom to do it how you want. Influencers have done a fantastic job of hyping up the “dream life” am I right? But, let’s take a look behind the curtain for a second. 


Starting a business and scaling it is risky enough, but if you add that onto the already existing debt, this could be stressful for you and your baby business. Student loans, medical bills, a house, and car payment, etc. these are more often than not paid off in small increments. If you are calculating how much salary to pay yourself in your new business, be sure in includes payments for any and all debt. You may also want to figure out if you would like to pay off those debts sooner and if so, how much does your business need to pay you in order to do so? 


Get Ready to Become Your Own HR and Accountant

Going full-time in your own business is exciting and new, and it comes with tons of new territory you may not be ready for. Health Insurance, 401k, and other workplace benefits all go away when you leave your day job. Do research beforehand on your options for choosing a healthcare plan that is affordable and will work for you and any employee you may have in the future if you choose to provide healthcare. 


When it comes to accounting and tracking expenses for the company, There are a bunch of tools you can use like QuickBooks, but you can also simply use spreadsheets on your computer to manually input what is a business expense, what is salary, etc. And if you are still wary of doing this alone, then perhaps hiring an accountant to help with exponents reports should be added to your budget as well. 


So much research needs to be done before quitting your day job and joining your business full-time! This is what the influencers don’t talk about, or show on social media. It’s not glamorous and it takes time. But being completely prepared is worth it in the long run. And if you need even more help, my coaching courses are available to you to help you feel confident and be successful with your growing business! Click here to learn more.