Some call it ‘diving into the deep end’, others call it ‘stepping out in faith’, but whatever it is leaving a (secure) job and moving full time into your own business is a big scary step and it’s hard to know when is the right time to do it. There are some guidelines that can help you with that decision.
- If you cannot afford to do without the income you are receiving at a full time position, then you need to consider building your business part time (after hours and weekends) until you are starting to receive some regular income.
- Perhaps you could seek out regular part-time or temping work to supplement your income while you build your business.
- Work out what your rates will be and then work out how many hours of work a week you need to free you from a ‘job’ so you can work at home permanently (don’t forget to add into the equation costs you will save from not having to pay for parking or train fares, petrol, childcare, etc).
There are most likely other things you can do to help yourself but these will get you started. Starting a business is one thing but then deciding ‘now is the time to be at it full time’ is another thing and I know of many VAs who left their jobs too early to take that plunge. They may have misread the signs, got caught up in the excitement or perhaps naively thought it would just happen as a matter of course, without having the foundations properly laid.
Whatever the reason, don’t despair, it just means you acted prematurely and next time you come back home you’ll be more prepared for what’s involved. I’ve had people join my team and then resign in less than 6 months and go back to a full time job, only to come back again 2 years later ready to give it another go and succeed this time. Research should play a big part in your decision making and joining one or two VA forums so you are mixing and mingling with those who are already doing it will help considerably too. It can, and will happen, with the proper planning and preparation. KMT