Since the pandemic many have had an awakening of becoming their own boss versus working the current job they have. They had an epiphany about what they missed out on, financial freedom, flexibility, and being appreciated. However, depending on who you ask there may or may not be a right or wrong way to go about it.
The Risk Taker
First you have those that says I’m going to bet on myself. I’m tired of working a 9-5. I want to be my own boss. They want the flexibility to work or create when they are most effective. The risk taker also is someone who has many ideas, creative, and very social. They have much confidence in themselves and says I’m going to win no matter what. The risk taker says if you have a plan B, then you aren’t putting all your efforts into Plan A. So of course you’re going to have to rely on Plan B one day. FINANCIAL MINDSET: WHICH ONE ARE YOU?
As Steve Harvey once said, “If my plan A doesn’t work then I’ll create another plan A.”
There isn’t a certain time to be stable to branch out on your own. Anything can happen. The more you try to work and save until you have enough, the longer you’re prolonging your dream and happiness. The comfort will always have you pushing back the deadline to begin your own.
The risk taker may also feel the company can shut down at any moment. They can lay you off without warning. Cut positions, hours, and benefits. Then where will that lead you.
The Cautious One
Next, we have those that says I have a family and bills. What about insurance. What if something happens. They are used to that guaranteed amount and needs that security “just in case.” It’s best to save at least six months, some say, before quitting your job. You need to make sure you’re financially secure and the family is stable while pursuing your dream. It’s all about security and comfort.
So do you quit your job and bet on yourself? Or keep that stable job until you feel you’re ready to stand on your own. Either way there are pros and cons to each. Depending on your life, lifestyle, circumstances, financial status, and many other factors. They both have the same end goal. To be financially free and to have something to pass down to their children. Doing what they love. Having fun. At some point working minimum hours while receiving maximum profit.
Which mindset are you? Quit or not?
Be you so you can be free.