Four Tips On Quitting Your Job Wisely!

We quit our jobs for many reasons. Usually it is to take on another and better position, but nowadays and in many cases, people want to step out on their own and freelance or start a small business. But, before doing this, you must realize that more than likely, in the first, there are going to be some struggles while you are trying to get your name established. And during that first year one thing will be missing: a steady paycheck. Therefore, you must prepare for the worst case scenario and make sure that you have enough money to get by on for the duration of the time that you think it will take for you to start making some money from your new business.

1) Make sure you have at least a three-month cushion of money in your bank account to cover your fixed expenses prior to quitting your job. One of the problems when you quit your job and head out to work for yourself is that you will be very busy trying to establish clients and building those relationships to be worried about paying bills and keeping your head above water.

2) Do your homework on your client base. What I mean by this is, do a background check on them and make sure they can and will pay you on time. Keep in mind that it's up to you whether your new business succeeds or fails, so you must make sure your clients will be able to pay you. And since you'll probably be strapped for money, it would be in your best interest to get a free credit report done on your client base. Free Credit Reporting In Seconds

In many cases, a client will have absolutely no concern whatsoever as to whether or not you succeed in your new business venture. You must think in terms of a new client being slow with payment or maybe not paying you at all after you have done a service for them.

3) Make sure that after you've made up your mind and quit your job, carefully analyze what you are spending your money on within the first month or two. Although you have that three-month cushion in the bank, you could make it stretch even longer just by cutting back on some of your unnecessary expenses. The idea here is to try and make your money last as long as it can and if it can be extended into a four month time-frame, even better.

4) Stay Disciplined With Your Spending Habits. It is very important and wise to remain disciplined during this initial time, as not doing so could result in the difference of your whether or not you succeed in business. Also, where you shop for your items can help in saving you money as well. Choosing a less expensive store to shop at like a dollar store, as opposed to a regular supermarket or department store, you can find many of the same items at a more reasonable rate.

*If you follow these tips, you and your new business will not only survive, but thrive!

To Your Massive Success!

Kareema Z. Ratliff
(Your Online Humanitarian)
Baltimore, MD., USA
443-756-2069

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