Thinking of Quitting Your Job to Become an Entrepreneur? Here's What Not to Do
If you’re still working as an employee, plotting your escape into the world of entrepreneurship, be aware that what you do now may have an impact on your success as a business owner down the road. Here are a few things to watch out for to ensure you don’t burn bridges, and that you maximize your chance for success as you prepare to become an entrepreneur.
What Not to Do Before Quitting to Become an Entrepreneur
1. Work on Your Business During Office Hours
Sure, launching your business is all you can think about, and you’re putting all the time you can into it after work. Just don’t be tempted to work on your new business endeavor during work. You can jeopardize your current employment, and the last thing you need to do is get fired before you’re ready to quit.
What to do instead: Carve out time after the end of the business day and on the weekend. Yes, it will seriously impinge on your Severance-watching time, but if you’re serious about starting a business, it’s a small price to pay.
2. Tell Your Boss to Go to Hell When You Quit
Maybe you hate the guy and can’t wait to hand in your notice. Resist the urge. If your business is at all one that your current company might benefit from, you don’t want to burn bridges.
What to do instead: Explain why you’re leaving and tell him about your business endeavor. Who knows? He might even be supportive of you. Then, after you’ve launched, keep him updated. You never know—your former employer might end up becoming a client.
3. “Borrow” Office Supplies
Your startup budget is small, sure, but that’s no reason to steal pens, paper, or other office supplies from your employer. Even if you know they’ll never miss them, do you really want to start your business off on such a bad foot karmically?
What to do instead: Set aside a portion of each check for your startup expenses. Before long, you’ll be able to afford your own supplies, and your conscience will remain clean.
4. Hire Your Co-Workers
This only worked in Jerry Maguire. Do not pilfer your co-workers to staff your new company. Why? See #2. You’ll essentially burn bridges to the ground if you take people with you when you leave the company.
What to do instead: Feel free to ask your co-workers for referrals to hire others. And down the road, after you’ve launched and established your business, it’s less serious if someone comes to you for a job. Just don’t initiate it.
5. Leave Too Early
Even if you’re chomping at the bit to quit your day job and launch something you truly are passionate about, make sure your head is on straight with the decision. Quit too early, and you won’t have the safety net of that salary (not to mention health benefits). You might not have enough money saved, and that could put the success of your business on the line.
What to do instead: Build in your quitting into your business plan. Determine how long you need to save enough for your first year’s expenses, both business and personal. Plan how you’ll quit so you don’t piss off your boss, and can maintain a good relationship after you’re gone.
If done correctly, you can exit Corporate America the right way, setting yourself up for success as a business owner.
