Ok, so you may have heard about ‘The Great Resignation’, we wanted to write about this amazing shift people are taking more and more since COVID hit us early 2020. We all need change every now and then. So here is a quick brief perspective and just some “think about this” notes. But when it comes down to it… plan and have a passion!
A staggering 95% of workers are considering leaving their jobs, according to a recent report. Burnout and lack of growth opportunities are considered the primary reasons for job turnover.
In the US, COVID-19 has led to what’s been dubbed the Great Resignation. As millions of people across the country have called for their own resignations. According to recent research by Microsoft, more than 41% of the global workforce are considering leaving their current employment this year.
Are you thinking of leaving your job? Many people have been resigning from their jobs. In search of a more flexible workday and a greater sense of freedom in their lives. However, before you rush out to leave your job, there are a few things that you should know.
Understand the Reasons Why You Want To Quit Your Job
As with any significant life decision, it’s essential to take some time and consider why you want to quit your job. Are you unhappy? Are you not challenged enough? Does your day-to-day work feel unproductive? These are all questions that need answers before leaving.
Take a few days or weeks to assess how you feel about your job Then create a plan for when (and how) you will go about quitting. Don’t make rash decisions out of anger. Take a step back and make sure you know what you want from your career going forward.
Have Extra Money For at least 6 Months of Expenses
Make sure that you have enough money saved up for six months of living expenses before you quit your job or go on an interview so that you can spend time pursuing other interests without having to worry about money.
Having extra savings gives you peace of mind and will allow more flexibility in your search for a new career. Don’t be afraid to stay at your current job until you have built up a cushion of financial security, even if you hate going to work every day.
In some situations, it may make sense to keep working until you can save one year of income before making a significant change. Even then, plan for at least another 6-12 months after leaving your job to figure out what exactly it is that makes you happy and see how well your new business takes off after starting from scratch.
Research Whether There Are Noncompete Clauses in Your Employment Contract
Noncompete clauses restrict former employees from working for competitors or starting new businesses that compete with their former employers, which could mean trouble for entrepreneurs who want to build something different once they leave work behind.
Work on Your Business as a Side Project
Launching a side business and launching it as a side project is much less risky than leaving your job and diving into your business full-time. That’s why we recommend that you work on your business idea as a side project for at least six months before giving up your day job.
As long as you’re passionate about what you’re doing, there’s no need to quit immediately. Instead, be strategic in how you spend your time. Aim to have one hour each day dedicated solely to growing your business—whether that means doing market research or building out your product development strategy.
Use any spare time to pursue personal passions, whether that’s grabbing a coffee with friends or reading books in bed. But, make sure this doesn’t interfere with spending time with loved ones or completing larger projects at work!
Launch a Membership Website
A subscription or membership business model is a recurring payment for a service that is delivered continuously. This means that the customer will be charged for the service from when they subscribe until they cancel. The benefits of this business model are immense and can be tailored to fit your needs.
This model has been proven to work in several industries, including entertainment, newspapers and magazines, and even fitness clubs. It’s not just about selling your products or services every month but also about retaining customers by giving them a sense of belonging in your community or organization.
So… there you have it, some things to think about if you are looking to move from our every day paid job to building your own empire. Whatever it is, that you choose as your next step, like we said at the beginning… PLAN, but most importantly make sure it’s a PASSION, because passion will drive you and keep you interested in perservering, even when things don’t go as easy as you presumed they would!
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