3 Reasons Entrepreneurs Should Keep Their Day Job

Read this before you turn in your two weeks' notice.

May 25, 2021

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5 min

Don't let hustle culture make you think that having a job isn't something an entrepreneur does.

In reality, most entrepreneurs have multiple jobs to fund their dream.

Now, I'm not going to hold you too long. I want to remind you of two reasons you should keep your job if you are an entrepreneur.

This article will then show you when it's time to go off the nine-to-five and pursue your side hustle full-time.

I'm so happy you found your passion and want to capitalize on it, but please recognize that your responsibilities stay the same.

Bills

Open up a credit score app like Credit Karma.

Sure, you see your score, but you should also see what's contributing to it. I'll show mine as an example. (Picture to the right.)

Student loans make up my score and hold it down.

Understand that your credit score is your grade for life.

Meaning if you ever want to make more significant purchases for yourself or your business, this score could be a deciding factor via the interest rates that come along with it.

So the main goal is to bring down the amount owed to increase the credit score attached to our name.

Tip: To get a complete visual of your loans and debt, break out a spreadsheet.

Funding

You need something to fund your dream.

Now you guys, this costs a lot of money. There is a payment you have for getting your business registered, having the ability to make sales, websites, packaging, and the product itself.

You want to keep your job to ensure that everything gets paid for.

The goal is to keep investing in your business until it can eventually take care of itself. The next goal is to get said business to start paying you for all your hard work.

Fun

Last but not least, you need to afford to have fun.

Being able to step away from your brand and experience new things allows you to have creativity, which can be brought back to your company and create the next best thing.

Unfortunately, new experiences often cost money. If you rely on your company to fund you before it's ready, you might miss the opportunity to have these moments. Therefore, you'll be stuck in a cycle that doesn't allow breakthroughs.

When You Should Let Go

I believe you should let go of your day job when

You can afford to live off of the salary you get from your business.

Remember that your first bit of profit from your business needs to be reinvested inside the company. Therefore, it will take a while before you see money go into your pocket.

However, once your business can take care of itself and you, it's time to let go of your day job.

When you realize that your brand can blow up when you give it more of your time.

Now you need to get some metrics before you make this decision.

It would be best to see what it takes to see a spike in profit. To see this, you need to start investing in analytics, and there are some free ones you can get right now.

I use Google Analytics, which I attached to my site. It tells me the number of visitors, where they're coming from, and what they are looking at.

I know that Shopify does the same. It will tell you when people are coming, why they're coming, how long they stay, and if they're buying. So if you have a physical product, Shopify is an excellent website to use.

If a metric that requires your time causes an increase in profit, I feel you should give your company just that.

Conclusion

Only you can determine when you turn in your "two weeks." I hope this was a good guide for you to decide when was a good time to let go of your day job and a reminder that having a job as an entrepreneur isn't a failure. If you want to change your occupation, use this post to help determine what jobs are right for you.

So tell me, Goal Getters, what jobs do you have? What passions are you pursuing? Please leave it in the comments!

Sincerely,