Everyone dreams of having their own business. Some of us inherit from our forefathers; some slog it out and build their empire!
There is a new breed of enterprising youth who are 'forced' to consider starting on your own due to various levels of dissatisfaction at work.
In this post, I am not writing lengthy stories or some advice on Entrepreneurship, rather I would prefer to make deliver my perspective in bullet points to highlight the pros and cons:
Why should you quit your regular job and start your own enterprise:
- If you are looking to build a steady stream of passive income initially and gradually over a period of five to six years relying on that source of income by offering products/services in your niche area.
- When you realize that you have gained sufficient experience in your core competency, and you want to start your own consultancy offering similar or even advanced services/products in your area of work.
- When you feel that you have a basic saleable idea which can be turned into a revolutionary product or service, to serve an existing need in the market. E.g. This is how most startups are born, out of a need which in turn, drives an entrepreneur to build an app around it.
Why you should NOT quit your regular job:
- If you are a subject matter expert or specialist working on new technology or any particular area of work that identifies with your niche offerings, then you are better off continuing and looking for further growth in your job.
- When you have an opportunity to work on multiple projects and your company offers you vertical as well as horizontal growth, then it is better to explore your career options within that company/group.
- Every professional goes through a moment of crisis in work/life balance. So, just in case, you are working with flexible timings that allow you enough free time and space to accommodate other tasks or engage in your holistic growth process.
Why I quit my steady corporate job with a multinational company in 2010:
The moment it struck me that 'training' and 'consultancy' is something which drives me to deliver performance to my clients, I just jumped onto it with three months of advance salary back up.Initially, there is a lot of resistance from all corners and it takes at least three years to build a sustainable revenue stream from your clients. But, the answer to all these issues is two words: If you have heard your calling, then passion will drive you, and persistence will sail you through tough times. ---- Prof. Sameer Anil Karna
Entrepreneurs are mostly born, and only few can be cultivated. There is an inherent calling within you that drives professionals to turn entrepreneurs. I had figured out that calling a long time back.