Many of us who start a home business do so while we are still working in another job. Our jobs provide us with a risk-free income, covering living expenses and, if we’re lucky, for funding at least a portion of our business start-up costs. Most people in this position hope to eventually leave their jobs to work from home full-time. But when’s the “right” time to quit? While there’s no black and white answer to this question, here are a few things to consider:
Are you confident in your ability to earn an income?
Some ‘experts’ recommend that you stick with your home business for at least a year before you consider quitting your job. This will give you the opportunity to ‘feel out’ any possible trends that may occur during the year. For example, you may find that sales are slow during the summer, and that your strongest months are from January to April.
If your business has been profitable for at least a year, you’ll probably feel reasonably secure that you can continue to turn a profit even after you leave your job.
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