MAY CONTAIN AFFILIATE LINKS, MEANING I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU. I ONLY RECOMMEND PRODUCTS OR ORGANIZATIONS THAT I BELIEVE WILL PROVIDE YOU WITH REAL RESULTS. PLEASE READ MY DISCLOSURE PAGE FOR MORE INFO.
The best way to start a business is to keep your full-time job and start a business on the side. This is the advice I've been given all throughout my entrepreneurial career and it has failed me for the last time.
I recently got fired from the 25th job I have held over the last 14 years.
Once again I put my focus on growing someone else's business instead of my own. This time was supposed to be different because I chose a job that was supposed to help grow my business as well as my employer's business. In the end, I assume I got fired because I am not a very good employee and I'm not afraid to make mistakes. I don't like being told what to do without understanding the reason, purpose, or goal behind it; maybe there is a more efficient way or better use of my talents. I hold no grudges or blame towards this employer, I won't name them for this reason, perhaps it was the last much-needed push in the right direction.
What if you are like me and you can't or won't restrain your entrepreneurial spirit and it gets you fired or fed up enough to quit? Is it possible to be a full-time entrepreneur without a regular 9 to 5 to support you? I pride myself on being a strategist so I did some research.
Apparently, If I don't get a "real job" my business will fail!
Joseph Raffiee and Jie Feng studied 1,500 entrepreneurs from 1994 to 2008 and discovered that those who kept their day job for years while growing a business on the side were 33% less likely to fail because of the financial stability (Curtin, 2018). It seems having a full-time job and a side business is the best route but that has not worked for me. The rebel in me wants to say forget the odds and go for it regardless of the data, but it is always better to follow the highest probability of success.
What if I find another way to get my way?
Upon further examination, I realized that it is not the full-time job that raises the chances of success in building a business but the dependable income stream. So can I find a dependable income stream outside of a regular 9 to 5 job and the business I am creating? This is what I am going to study next.
- Curtin, Melanie. “Should You Quit Your Day Job? This Study of More Than 5,000 Entrepreneurs Has a Surprising Answer.” Inc.com, Inc., 25 July 2018, www.inc.com/melanie-curtin/should-you-quit-your-day-job-this-study-of-over-5000-entrepreneurs-has-a-surprising-answer.html.
What do you think?
Do you agree with my thinking? Or do you think I should let go of wishful thinking? I value your opinion please leave a comment below.