How did you know it was time to make the switch to run your business full-time?

[Helen]

Hello everyone ⭐

Recently, @Pesso and I shared a set of questions to consider before you quit your day job to run a business full time. And that has got us thinking:

How did you know it was time to make the switch to run your business full-time?

Maybe the timing was just right? Maybe it was never even a question and something you always wanted to do? We’d love to hear your story.

[Purple_HS]

We took an approach of diving head first, which I wouldn't advise. Our team already understood the problems we were solving, how we could offer something different, and we also felt comfortable with pivoting. Granted, we also had the cushion of income from another business.

My suggestions to anyone less crazy would include the following:

1. When you're saying no to a lot of business, that's a great sign that you can take your work full-time 
2. When you have enough money saved up to go without an income for a few months
3. You have a solid exit strategy
4. You understand your business's key drivers of income, and what your most important customers need.

[Helen]

Thanks @Purple_HS! I'm interested to hear that you started one business while running another. Did you have both business going simultaneously? 

[Purple_HS]

Yes, for about 2.5 years, both were going simultaneously! 

[Noahsmetalfaber]

How I started my welding business was I went to welding school to become a certified professional welder and fabricator while I was going to school I helped my father with the farm and practiced my welding by doing welding repairs on irrigation systems and fabricating parts for irrigation systems, and farm equipment

[DLRosenberg]

whelp- this go around literally took that leap of faith and was like- this is what we're doing... LOLOL

[Helen]

Sounds exciting times!

[notarizerllc]

I'm right there with you. I walked away from my corporate job and decided to start my own business on a Tuesday morning sitting at Starbucks with my spouse (and now business partner!). 

[Noahsmetalfaber]

After I got out of welding school I started taking on more welding projects 

[elGaucho]

I have to agree with PURPLE_HS on the 4 steps outlined. I would also add:

1a. When your part time business net income matches or exceeds that of your J.O.B. then it's time. 

[Helen]

Good point @elGaucho ✅

[PerroneTech]

I run a computer business. I have been doing it as a side-gig since like 2010. In Nov 2019 I found a small hole in the wall in my town with ridiculously cheap rent. So I signed a lease and did repair part time. At that time I was working a full time job. 8-4:30pm. It took me nearly an hour to get home. So everyday from like 5:20 to whenever, I would repair machines.

In March of 2020, my boss and I had a falling out, when he told me that I was not on his level and that I should not be giving suggestions on how to improve the workplace and workflows. After decades of working for others and just taking the BS, I finally had enough. I fired my boss and went to my work full-time. I am currently opening another business. So perhaps maybe I was on his level?

[johnyabarca]

Orlando that was tough, you were definitely not on your boss's level, you are beyond my friend. Good call on firing his **bleep**...lol

[jeanielowell]

When I became licensed in 2002, the next step was building a client-base big enough for me to quit my part-time job.  I joined an effective business building networking organization and participated in every community event where I thought I could meet potential clients.  I volunteered at sporting events, etc.  In 2005, I was able to quit the part-time job and do massage in a private practice full time and have not looked back.  There were times when I thought maybe I had made a mistake leaving a good paying corporate job, but after those first 3 years, I knew it was the right move.  Just stick with it, take advice from those you admire, get a mentor and put in the effort.  Remember you cannot be everything to everyone, so carve out your niche and be the BEST in the area providing that service/product.

[Honest_Mike]

For me it was a total leap of faith. I felt like God wanted me to start my own business. I didn't have much money saved up, definitely couldn't go a month without getting paid, and up until this point I never had a desire to have my own business. I was stressing because my first week was not profitable. Second week was thankfully. But I had a couple commercial customers lined up who were having me work on their trucks and trailers on the weekends. Usually I would make enough those weekends to equal a couple weeks at my regular job even though I had a 100k a year management position. I quit without even a guarantee of one customer, just a good feeling that I could get a lot of commercial business in my area quickly and a lot of faith that God would help guide me to the right decisions. Its been a little over two years now and I have 3 full time employees, two part time employees to help me with invoicing and book keeping, and I have far surpassed all of my expectations.

[ReiTech]

I haven't yet done this, but I've started putting a lot more time into my business now that I have a cleaner URL and more of Square's benefits over Wix. I expect I will decide to run my business full-time once I am making a sustainable income for where I live.

[alexandriak]

I decided to do my business full time once I opened my storefront. I did keep my part time for a few months but within 6 months I dropped that. I just made sure that all of my expenses could be covered with what I was paying myself and then went for it. Granted I was in my 20s and had few responsibilities like kids or a house so my bills were very little.

[CactusQuilter]

I was a quilting instructor for over 10 years and when Covid hit my income went to zero very quickly.  I fould a private retreat house that I could rent by the day and by mid-2020 we began to meet again with distance and other safety in mind.  Students needed supplies so I began to order a few items and before I knew it I had a business.  When I outgrew the space at the retreat house, we moved my "shop" to our home and I ran it online.  My husband told me to go get a shop when he found bolts of fabric in the master bedroom!  Been open two years and now employ 10 people in the shop plus 5 teachers.

[MacrameByAmelia]

I didn’t lol. I’m not full-time yet. I hope to be someday!

[Noahsmetalfaber]

Hi my name is NoahSchnelle I’m a certified professional welder and fabricator to answer your question is when my phone started blowing up with phone calls with customers wanting me to do welding projects/welding repairs I have been welding and fabricating for 11years 

[Bronze_Palms]

I started my beauty business in March 2020 - LOL.

I was in advertising for about 6 years before I made the switch and, ultimately, I was lucky enough to have a husband and not be impacted by rent increases because we own so I decided to put all my time into the business. It worked out! We own a 5 room salon in town and are busier every month. 

I wouldn't say there was a "right time" - starting something new is a slow grind, it takes time, and feels hard because its new.