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When to Quit Your Job and How to Start Chasing Your Dream?
Ok, all the Social Media Influencers will get you really hyped about quitting your boring 9 to 5 job to pursue your dreams and get rich but seriously is it worth the risk? I mean only 8% of businesses that start on a smaller scale succeed and 92% of them fail big time!
Quitting your 9 to 5 job does sound very freeing and pursuing your dreams feels fulfilling but what influencers motivating you to quit your job is doing, is telling you what will sound good to your ears or appeal to your emotions. They are selling you your dreams so that they don’t go broke. Telling you to quit your jobs and follow your heart is practically their bread and butter! They are influencers, not educators, they will influence you, (using manipulation and propaganda techniques) to make you buy into whatever they are selling you.
They tell you, success is just around the corner if you get the right mix of passion and plan, but what is THE PLAN? You have your passion but what kind of plan will actually work?
What if you throw your job out of the window and your plans do not work out? You are jobless, out of the job market (which is getting more competitive every day) and your endeavor failed so it took a serious hit on your self-esteem. You will hate yourself for quitting your job and curse all the influencers who told you it was a good idea. Your job is secure (steadier income than business and less risk involved) and it is the most financially secure you have ever been!
Plus what if you don’t hate your job and it is not making you miserable but things are just monotonous and you are bored? Do you need a hobby or a shift in your career? Could switching jobs be a better option for you than quitting the job? If you really must take the chance, how you can improve your chances of success? In this blog post, I will be jotting down answers to all these questions so you can take an educated decision rather than an influenced decision.
Why Keeping Your Job is Important?
It’s what brings the food to the table. It helps you pay your bills and debts. It’s a financial security that helps you sleep better. Plus having a job makes you more trustworthy in the eyes of society. The longer you have been on your previous job, the more credible the other companies and banks will find you. The longer you have been ‘out of job’ the more frowned upon you are in the job market. If you have a job you are lucky, ask anyone who has been jobless for months.
Reasons you should say goodbye to your current job
While having job security is literally a blessing, there are instances where you must draw the line. Let’s have a look at the following 10 questions first.
- Do you find the job monotonous and boring?
- Even if you are really good at it, is it not challenging enough to get you excited?
- Do you feel stagnant and do not see growth potential in your position?
- Are the core values of your company not in line with your own core values?
- Are you finding it hard to get along with your teammates or company culture?
- Does it frustrate you when your job eats out the work-life balance?
- Is your job taking a toll on your mental health and sanity?
- Are people in upper management and colleagues the problem?
- Are your ideas being not appreciated?
- Is your work not getting the due credit?
If the answer to any of the above questions is yes then probably you should start looking for a new job, but it does not mean that you are ready to quit your job and start your own thing (a small business or whatever). You need to work in a different company, in a new environment with assignments that you find challenging and help you grow professionally. Unless your current is job is taking a serious toll on your physical or mental health I will not recommend quitting your job cold turkey. Start sending your CVs to other companies and check on vacancies in your field regularly. When you land a new job, you can say goodbye to the one you have now.
When it is wise to quit your job?
You will need to get three things straight up in your hand before you sit to write your resignation letter. If you have these three things you can just walk up to your boss and throw your resignation letter at their face or shove it down their throat, whichever way you prefer.
First and foremost I will give you this is what Jason, a successful entrepreneur has said too. Do not quit your job unless you have a second steady source of income inline ‘immediately’ giving you ‘enough money’ to afford your lifestyle. I am not talking about ‘just in case savings’ which are by the way the second most important thing you need to have before you quit your job. You need to save enough money to support yourself for three to four months ‘just in case’. But other than that you either need a job, or investment reaping you good passive income.
Thirdly, whatever your new adventure is, business, travel blogging, or whatever you should have enough skill set and experience in your trade. Additionally, you should also know how to market your ‘product’, whatever it is. This is not about testing the water before you go in deep but also learning to swim before you jump into waters. It is popularly believed that 10,000 hours of practice or experience can make you an expert of anything, but luckily (or unluckily for some) science has proved this belief flaky. Practice and experience are important but so are other factors like talent and intelligence level. Some people can never master something no matter how hard they try or how much they practice. On the brighter side if you are smart or talented enough you will not have to spend 10,000 hours to become a master. Obviously, the process of learning is lifelong and the moment you stop learning you stop growing. You just need to know that you have mastered the required skills enough that you are ready to take a calculated risk.
Your Job and chasing your dreams do not have to be mutually exclusive
Until you score the above given three things, your hobby or your passion can be turned into a side hustle. This will also give you more experience in the trade before you actually start making serious investments and commitments towards it. Work on it after-hours and over the weekends. I know many people who have full-time jobs and are making some extra cash from their passion. A friend of mine who is very passionate about cars is a full-time bank employee and in his free time, he buys used cars, fixes or upgrades them, and then sells them for profit. He says when he starts working on a new project of the freshly acquired car; it is equally exciting and relaxing for him.
I hope you found the above-given information helpful and it will guide you to make the right decision. Good luck with your endeavors. If you have any questions or ideas you want to share, feel free to leave them in a comment and I will surely respond asap.