Life without 9 to 5 jobs

There are many people who are stuck in rut, working from 9 am to 5 pm, and often overtime. They set out from the beginning of the morning, often without a proper breakfast. Many young adults and old age are racing against time, the streets jammed and crammed in the middle of the pollution to get a salary every month or every two weeks.  It seems you can not escape from this routine, there is even a possibility you will live until retirement age. Could you change all of that? How about you?

When we were young our parents always remind us to study hard at school or college, so we can work in a big company. They never showed us how to quit from a job trap and start a business so we can be independence in the future. So, what we do if we want to quit from our current job?

If you quit your job and hang up your own shingle, you might work harder for less money. You may enjoy working from home or choosing your own customers, but you might end up living from client to client without building any real income. This is not a good way to build your fortune.

9 to 5 movie. Image: btchflcks.com

Many business owners are unsure of their profitability at a company or job level. They “think” they are making money because they have a few dollars in their checking account. Having money in your checking account doesn’t mean you are profitable. It might simply mean you haven’t paid all the bills yet, so you have a little cash. Cash and profit are two different concepts. If you don’t know your exact income and expenses for each job and your overall business, then how can you know whether you are making a profit? And, if you aren’t profitable, your business won’t last long.

Let’s think big. The real key to successfully creating wealth outside of a job is to avoid the mistake of trading one boss for another boss. You need to stop trading your time for dollars. Stop thinking like a wage slave. Look beyond earned income.

You need to build a business that works for you. Before you quit your job you must make a plan to build a business that offers multiple streams of passive income in addition to your earned income. There are so many exciting ways to design your income portfolio. It requires imagination, bravery and planning. Go to your successful friends and ask their advice how to construct your business so that your daily activities are fun and challenging. Recognize the things that you don’t enjoy or are not good at and search other people to do these activities – outside partners, independent contractors, or part/full time employee.

Start new business. Image: gurl.com

There's a free tool in the Internet which will assist you in creating a business plan. Some of the topics you will be required to explain are your Market, Customer, Competition, Marketing Plan, and Research & Development along with financial forecasts. You may consider hiring someone to help you with your financial sheets after completing the written part of the business plan.

Your Business Plan will become your guide and silent business partner - indicating where you need to improve and helping you stay one step ahead of your competition. Make it a priority to have this crucial road map for your business. Don’t forget to set your goal and enhance your vision from time to time.

Let's start a new business. Have fun.