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Key Factors To Keep In Mind Before You Quit Your Job And Start Your Own Business

By Shubhangi Goel

Updated - May 9, 20244 min read

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Planning to build start your own business? We’re here to help you out with some key factors to keep in mind before you leave your job and become a CEO. 


1. Build A Network

Keep your colleagues and peers in contacts who already run a business or have enough skills to help you out structure your strategies right. Network building is one of the starting keys to establish a business. If you’ve got the right set of contacts you might end up building a team beforehand. That’s one always recommends to not leave a company on a bad note as it’s always good to have resources and important in your network.

start your own business


2. Step Out Of Your Comfort Zone

It’s going to be challenging as you’ll be stepping out of your comfort zone completely. When you have your job, one is still able to manage his time well but when you become a CEO, the initial stages make you grind at work trying to get everything in place. So prepare yourself to face new challenges but with confidence to achieve everything that comes your way.

start your own business


3. Strategize Your Business Plan

Structure your plan out - figure out your expenses, objective, vision, and ideas of marketing and compile them into a formal business plan. Be ready to multitask like a boss - because for starters you’ll be accountable for every position - Recruiter, Writer, Marketing Associate and what not.

start your own business


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4. Idealize Your Prospect

Don’t be underconfident, don’t underestimate your abilities. You’ll come across a good number of people trying to discourage with your idea. Criticism is essential but only the right kind of criticism which helps you grow and take up challenges and strategize better. If you believe in your idea and you know the market has the ideal space for your product then it’s time to push yourself to become the best and leave the discouragement behind

start your own business


5. Secure Your Finances

Your entire business plan is laid on the base of your financial expenses. It’s time to save up to 6-12 months of expenses to be in a position to start a business because pending bills and taxes will definitely make it hard for you to manage expenses for your prospective business. When there’s a strong financial base everything is easier to begin with as you won’t be struggling with your marketing investments at the initial stage. Fundings and Investors will eventually come in with the right structure and vision.

start your own business


6. Do Your Research

It's always better to have an upper hand before you start your dream project so do your research and know your sources well before you lay hands on your first project. Start writing your notes and gather up all the information required before you actually get into the depth of anything. Get your facts right about the top skills required - Marketing, SEO, Website Management, Recruitment, Finances and of course your product.



7. Read Up About The Best

It's not easy to pursue your endeavor with all the challenges without knowing what's lying on the plate for you. Read about the top companies and their marketing strategize and how to plan their whole business structure out. Take inspiration from the best of entrepreneurs and even look up the tops ones on Forbes. How about hiring a business coach to lead on for starters? 

start your own business


8. Failure Is Just A Ladder To Step Up

We often find our own ideas incredibly appealing but not everyone would find it as appealing. You might be discouraged from pursuing it or even face hardships while trying to conveying the idea so remember every mistake that you make while building your business will help you to figure out the right path. 

start your own business


Make a solid plan and prepare yourself to take a leap to a level up, learn about your competition, market, merchants, product and everything possible before you begin. Quitting your job might seem like an ideal prospective at the moment but the right kind of planning is very important to begin with. Give it a thought and keep all these factors in mind before you implement the whole idea of doing your own thing. 


Suggested Read: The Greatest Instagram Guide ever made for Restaurant Marketing