Sleepless night has you up thinking of nothing but, this new venture you are about to endure. However one thing will most likely keep 80% of a new business owners from managing the shift of a steady income from a secure job to a position that they will only get paid based on what they bring in on their own hard work.
So what advise can be given to help move from one level of income to another.
This first of all depends on a couple of factors of how fast you can shift and levels of growth you can bring to the business.
Here are some tips on some strategies you can take to move into a business owner position.
#1 – If your business is starting up from a list of no client for a service within the first year best to stay working as an employee and then slowly with draw working as an employee as you build the business.
#2 – If you are considering to purchase a business or client list, focus solely as a business owner. The business you will purchase or the client list will always have a drop of 20% within the first year of business. (from loss of clients)
#3- If you are starting a business that is not spending a lot of time working on its’ growth. Stay as an employee till you have enough revenue flowing to leave your job.
Now this is not a hard fact advice, just what I have seen in the small business I have managed and experienced myself. Ultimately it will be up to you for the comfort level of switching hats and the balance of income from one position to the other.