Ever caught yourself wondering, “Should I ditch my 9 to 5 and start my own business?” You’re not alone—this is something a lot of folks in the corporate world think about, especially when they’ve got a passion or interest burning inside them.
I’ve been in that boat before, so let me share some thoughts on how to navigate this tricky phase of your career. But before we get into the nitty-gritty of how to decide, let’s clear up some reasons why you might NOT want to make that leap just yet. Many people have a romanticized idea of entrepreneurship, so let’s burst that bubble by tackling a few common misconceptions:
Misconceptions of Entrepreneurship
Misconception 1: I’ll have more time
This is the king of all misconceptions. Trust me, you won’t own your time—your clients, partners, employees, and everyone else will have a say in your schedule (that’s even if you have a personal life!). Sure, you’ll get more flexibility, but don’t mistake that for having more free time.
Misconception 2: I get to be the boss
These days, everyone seems to throw around the title of CEO like it’s just a cool badge. They think they’ll enjoy the same perks and power as their old corporate bosses. But here’s the truth: as a startup entrepreneur, you’re not the Chief EXECUTIVE Officer—you’re the Chief EVERYTHING Officer. Unless you’ve got a big pile of cash lying around, you’re going to be a jack-of-all-trades until you can afford to bring in specialists. Building a solid business structure takes time, so be ready to roll up your sleeves.
Misconception 3: I’ll make tons of money
Running a business isn’t like hitting the jackpot or betting on a sure thing. It’s hard work, and there are countless factors that can impact your success. Things rarely go according to plan, but as an entrepreneur, it’s your job to navigate the rough waters and come out on top, even if you collect a few battle scars along the way. And here’s a reality check: every bit of profit isn’t just for you to pocket—you’ll need to reinvest if you’re playing the long game. And yes, sometimes your employees might earn more than you. It takes vision and humility to appreciate why this matters.
Now that we’ve busted those myths, let’s talk about how to know when it’s the right time to leave the corporate world and jump into business ownership.
No. 1: Savings!
Yep, you need a nice chunk of savings—enough to cover at least six months of living expenses, especially if you’re not launching a service or fast-moving consumer goods business. Your current job has given you a certain lifestyle, and you’ll want to maintain it, even if you dial things back a bit. The last thing you want is to let go of your basic comforts when you’re already grappling with the challenges of running a business. Get yourself sorted internally so you can take on the external battles with confidence.
No. 2: Product/Service Market Fit
Do people actually want what you’re offering? You don’t need to quit your job to figure this out. The point here is that you shouldn’t leave your corporate job to chase an idea that hasn’t been tested—unless it’s as groundbreaking as “walking on the moon,” lol. Seriously though, there should be enough demand for your product or service to compete with the demands of your corporate job. A great way to test this is by taking a two-week leave to focus solely on your business. If you find yourself doing a ton of productive work, it might be time to consider your exit. But if you’re twiddling your thumbs during those two weeks, it’s probably not the right time to leave.
Bonus Tip: Being fed up with your job isn’t a reason to start a business. Maybe it’s just time to explore a new role at a different company.
No. 3: Are You Making Money?
A business isn’t a charity. You need money to keep things running and to pay your bills. Personally, I think it’s risky to cut off a steady income without having a backup plan. Your business should be making enough revenue to pay you a salary (even if it’s not as much as your current one in the beginning), pay your employees, and have some savings before you wave goodbye to your corporate gig. You might ask, “How do I get my business to this level without quitting my job first?” My next point will answer that.
No. 4: Can You Hire Someone or Find a Partner?
One of my favorite African proverbs, inspired by the Swahili concept of “Ubuntu,” goes, “If you want to go fast, go alone. If you want to go far, go together.” When it comes to running a business, you don’t have to do it all by yourself. Finding a trustworthy person isn’t something you can easily buy, but it’s an investment worth the effort.
Can you create a structure that allows you to hire someone to help run the business while you’re still working your corporate job? Or maybe consider bringing on a business partner who can focus on the business full-time? Doing this will help your business grow to a point where it can support you. Plus, reinvesting the profits can fuel even more growth.
PS: Running a business is all about solving problems and delivering real value—not about chasing titles and publicity.
These four factors should help you make an informed decision. I get that everyone’s situation is different, but considering these points will help you make a choice with your eyes wide open, fully aware of the risks.
Starting a business can be exciting and incredibly fulfilling, and I’m thrilled that you’re thinking about it! If you have any questions, drop a comment, and I’ll get back to you as soon as I can.
