💡 Business Tip - Take the Job (Issue #75)
Sometimes the timing isn't right
“Don’t start a business now.”
That was my advice for a prospective client last week. They had lost their job in a layoff and were planning what to do next.
Look for a new job?
Start a new business?
They had dreams of launching a business one day, so they thought this might be the time to do it. I disagreed.
Now, if they had already been testing their idea on the side and had revenue consistently coming in from it, I might have said, “Go for it!” If a business model is working well, giving it 100% of your focus can make it take off and replace your 9-5 job’s income.
That wasn’t the case, unfortunately.
A new business takes time. It very rarely provides enough income to support your financial needs immediately — although I’ve had that happen with some of the businesses I’ve launched before.
It could be six months, a year, or two years before a new business generates enough revenue to support you and your family. And this person did have a family to support.
So, my recommendation was to land a new job, but maybe one that wasn’t so demanding. That would give them enough time to design, build, and test their new business idea during their personal time and get it off the ground.
If things go well, they can quit their job later and go all in on the business!
I’m Larry Cornett, a Freedom Coach who can work with you to optimize your career, business, and life. My mission is to help you become a more "Invincible You" so you can live your life on your terms instead of being controlled by someone else's rules. I live in Northern California near Lake Tahoe with my wife and our Great Dane.
