Everyone has dreams but people are not sure how to pursue it. One of the toughest decisions in life is chasing your dreams and passion and do exactly what you love to do. We all have duties and non-negotiable obligations which prevent us achieving from what we want in our life. Amazon CEO Jeff Bezos quit his well-paying job as Senior Vice President of Wall Street investment banker D.E. Shaw & Co after learning “about the rapid growth in Internet use,”
Entrepreneur India lists out few key things that young entrepreneurs should keep in mind before quitting their jobs to live their dreams. Planning ahead is the smartest thing to do before you quit your current job.
Take Ownership Of Your Business :
It is of vital importance for entrepreneurs to take ownership of the decisions and actions they take in life.
According to Sanil Sachar, Author and Motivational Speaker, before quitting an entrepreneur should take ownership of the entirety of their venture.
“A strategized plan is important but knowing the reality that a plan is only as true as the execution each day. So, ownership of the hiccups is as important as rejoicing the milestones. An entrepreneur should be practical to set a plan and allow them a chance to fail. Then, all they need is a mentor to support them, hard work to achieve the goal and perseverance to make sense of quitting the “conventional” route to start the “unconventional”,” explained Sachar.
Sachar worked with Star Sports but quit the job to pursue his passion for writing.
High Risk = High Reward :
Quitting job without another source of income in place is a risk. Nibhrant Shah Founder & CEO of ISPRAVA feels starting a company involves sleepless nights but the highs you get are incomparable
After working as an investment banker in New York and London, Nibhrant moved back to India and started Themis, an accounting services firm
“Having worked in New York and London for well-reputed investment banks, I didn’t worry about taking a risk while I was quitting my job and pursuing my dream of becoming an entrepreneur, and that is the key. You need to recruit the best people, have a clear and narrow strategy and work without an ego. You cannot be everything to everyone,” he said.
Find Another Source of Income :
Before you quit your job find out a way to get self-sustaining income.
Manav Subodh, Cofounder of 1M1B (1 Million for 1 Billion) emphasized that it looks fancy when somebody quits his/her job but it doesn’t happen overnight. It happens over a period of time so when everybody thinks you have quit your job you have done a real solid thinking behind it.
Subodh left his corporate job in 2015 and create a great cause called 1M1B.
“Don’t quit it unless you have secured your sources of income because all the passion can go for a toss if you are not taken care of. You need to find multiple sources of income,” he stressed.