So you want to quit your job? Six things to do before you take the plunge

May 14, 2020

A few months ago a couple of people in my network were resentful about being employees. They wanted to set-out on their own, ‘be their own boss’ and run their own thing. They spoke with the entitled air of people who believed that having a dream elevated them above the work required to make that dream a reality. Having been in that position before I chuckled.

These people had no idea.

They had no idea what it means to go from having a regular consistent pay-check to suddenly being responsible for delivering financial results. Metaphorically speaking they were fluffy little lap dogs who wanted to run with the wolves.

They were going to get decimated, so I gave them this advice.

Before quitting your job:

  1. Have at least 12 months savings to cover your living expenses
  2. Have a product or service that is selling well in the market
  3. Be bringing in so much money it doesn’t make sense for you to stay in your job anymore
  4. Have a marketing plan that is working. ie. Your marketing brings in a consistent source of leads that you can control at will
  5. Have a method of selling that consistently converts leads into sales
  6. Have a mastermind and/or coach to hold you to a higher standard AND/ OR a business partner

The objective of me sharing this advice is to ensure that you SUCCEED. Remember this — in the game of business play to WIN. Don’t be like the chumps that play for the sake of playing, who stay stuck year after year never making any progress yet call themselves ‘entrepreneurs’.

Play to WIN.

Actioning these six points will help you win in the game of business.

1.Have at least 6–12 months savings to cover your living expenses

When bills are coming in and money isn’t scarcity mindset can kick in. Scarcity mindset is real and scarcity mindset will fuck you up. Scarcity mindset is where you perceive resources to be scarce and it results in you settling for less, fighting for scraps and allowing others to walk all over your boundaries. This is a recipe for being broke, never advancing and always fighting for a tiny little pie when metaphorically speaking you could own the pie factory.

When you know that you are ok financially, when you know that no matter how a business deal goals that you’ll still have your house, your car and your food you won’t be afraid of walking away from bad deals. You’ll be able to say ‘NO’ easier and go after what you truly want. That’s why it’s important to have 6–12 months living expenses behind you. It’ll help you play big instead of playing small.

2. Have a product or service that is selling well in the market

If your product or service isn’t selling right now when you have a job, why will it magically sell when you quit your job? The logic doesn’t make sense. Whilst consistent money is still flowing in make the tweaks to ensure your product sells better.

Generally if your product or service isn’t selling well in the market it’s due to any combination of the following reasons:

  • Your product sucks
  • Your marketing sucks
  • Your selling sucks

It may hurt to hear this but it’s true and there isn’t any time for ego here. You can keep your ego and your shitty results, or you can let go of your ego for the chance to have amazing results. Examine your product, your marketing and your method of selling like a scientist. Write down your hypothesis of why your product or service isn’t selling as well as you’d like it to. From this list identify the one thing that you believe to be biggest bottleneck to your progress and attack that problem swiftly. Maybe it’s a knowledge gap — something you don’t know that’s keeping you prisoner. Maybe it’s lack of execution. Whatever the #1 bottleneck is make the first step to eliminating it within 24 hours of identifying what it is.

Change may be immediate or it may be slow. The key thing is to ensure you keep removing the bottlenecks preventing you from selling more of your product or service. Continue to remove bottlenecks until your business is selling the quantity you desire. Doing this will ensure you hit the ground running when you leave your job.

3. Be bringing in so much money it doesn’t make sense for you to stay in your job anymore

This is fairly straightforward. Getting to this point will force you to become extremely efficient with your time and force you to think about the fundamentals of your business. If you can’t make more than you earn in your job, your business isn’t performing at the level it needs to be.

4. Have a marketing plan that is working. ie. Your marketing brings in a consistent source of leads that you can control at will

Without marketing, a business dies. If people don’t know you they cannot buy from you and if people don’t buy from you your business will die.

Marketing that generates leads is marketing that you must do in order to survive. What that marketing looks like varies from business to business and industry to industry. Maybe it’s using Facebook ads. Maybe it’s using Google Adwords. Maybe its content marketing. It’s your responsibility to find the method of marketing that works best for your product in your industry. In general keep this in mind:

– Paid marketing (like Facebook ads or Google ads) will get you faster results as it puts your business in the face of many prospective buyers in a shorter window of time.

– Free marketing (like building a network, blogging and making videos) will get you results, but perhaps after 3–12 months. Good for long term success but it won’t feed you right now.

Finding the marketing that works for your product or service can take a bit of time and trial and error. That’s why I advise you only quit your job AFTER you’ve got a form of marketing that’s working well for you, so you can hit the ground running instead of looping around looking for the marketing that works for you.

5. Have a method of selling that consistently converts leads into sales

So you’re doing marketing. Lots of people know about you, your product and your service and they’re considering buying. Awesome. Are they buying from you? Before quitting your job ensure you’re good at sales. Ensure you know how to make people consistently give you money. There isn’t a magic bullet answer here. Closing the sale is different if you’re selling a product or a service. It’s also different if you’re selling in person or online. Top tip — mastering selling online will give your business scale and help it grow faster, however don’t take my word for it and research what’s best for your industry and what you’re selling.

6. Have a mastermind and a coach to hold you to a higher standard

You only know so much and what you know will take you to a certain point. If you want to grow beyond that point you need knowledge and training. This can come from books and seminars. I highly recommend you have a coach as well. Someone who can keep you on point and ensure that you continue evolving. Someone who can help pull you up and identify the hazards in front of you and give you a game-plan to bypass them. Then have a mastermind of peers who can relate to what you’re experiencing and share their perspective from being in the trench with you. Business can be a lonely game, and sometimes you can lose perspective which can result in losing your way. Have a coach and a peer group who can hold you to a higher standard and ensure you keep performing.

As shared earlier, in the game of business play to win. Play to live the lifestyle you desire. Play to evolve into the ultimate version of yourself.

  1. Have at least 12 months savings to cover your living expenses
  2. Have a product or service that is selling well in the market
  3. Bring in so much money it doesn’t make sense for you to stay in your job anymore
  4. Have a marketing plan that is working
  5. Have a method of selling that consistently converts leads into sales
  6. Have a mastermind or coach to hold you to a higher standard

When you have these six things on your side you’ll be bulletproof when you take the plunge and leave your job. Except it won’t be a plunge because you’ve already been playing the game and winning already.

To your perpetual success,

David Pita is an artist and writer and consults as a web designer and conversion copywriter. His writing explores how to thrive and succeed as a human and his art is an expression of vibrant joy.

You May Also Like…
Be Willing to Suck

Be Willing to Suck

A few months back I got a surfing lesson. I sucked pretty bad 😂 But being in the ocean was super life affirming. I...