If you have been contemplating to quit your job to start a business of your own, you better think twice. In this recession, some would kill to retain their job. However, if your mind is all set up, here are some pros and cons to quitting your job, and some considerations you must keep in mind when doing so.

PROS

- You get to focus your attention full-time on your startup business.
- Potential investors might find that as a sign of commitment and therefore will be more willing to invest in you.
- Easier to arrange meetings and make business calls during business hours.

All these pros allow you to really focus on your startup and evolve it, ensuring the maximum chance of success. In the case of your own startup, it does not make any sense to want to diversify. If you only have one chance, one opportunity, you have to do it once and do it well. Give it all you’ve got.

CONS

- You lose a steady rice bowl and need to pump in a sum for your initial capital
- Your savings will slowly be depleted to grow your startup or absorb initial loses.
- Should you change your mind in the future and decided to find a job again, you might have difficulties finding one that suits you.

If you have saved up a good amount of money for your startup, your situation might not be that uncertain and you have about a year of buffer. However, if you haven’t managed to save up or only have enough cash to tide you over for a few months, you might need to wait a little longer to start your own business.

   

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