As the CEO of a company, I’ve hired a lot of employees, fired a few, and watched my fair share head into retirement. I’ve also quit a job—a really good one—to go off and chase my dreams. Having been on both sides of the spectrum, I can tell you that no matter how much you hate your boss, believe your small business plan is a guaranteed win, or can’t wait to be free; there is a right and a wrong way to quit your job and start a business. You need to do it the right way.
Tips to Quit Your Job and Start a Business
All the trials and triumphs of building a business – delivered to your inbox.
Eight out of ten startups fail, and how badly do you think the entrepreneurs behind the failed businesses wish they could go back to their old jobs? Well, the good news is, if you follow some of the tips below, you may be able to go back to your job if your startup doesn’t work out the way you hoped.
- If you’re working on your business ideas outside the hours you’re working for your employer, that’s okay. When I started my first business, I worked on my own company on nights and weekends, building custom computers in my dining room. If you’re working on your business while you’re at work, however, that’s stealing. It may be difficult to focus on the job you’re doing when your head is filled with dreams of starting your own business, but, you have to buckle down and do great work. This is the last chance you’ll have to make an impression on your employer, and you don’t want that impression to be “stole company time for personal projects.”
- Maybe you’ve not written your resignation letter yet. Maybe you wrote it months ago, keep it in your back pocket at all times, and are just waiting to slap it on your boss’s desk. Regardless, make sure it’s short and sweet.
Give your employer a two-to-three-sentence letter that tells them how grateful you are for the opportunity to have worked for them, and how much you’ve learned. Your resignation letter is also your two weeks notice. Understand the situation that letter puts your employer in; they now have to find someone to fill your spot, either via a backfill or hiring. That’s going to take them time and resources. In other words, you just made more work for them. So, make sure your resignation letter is respectful, not only for the opportunity but also of the plight you’ve just put them in. Your letter of resignation is an important professional document that ends a professional relationship; the content within should reflect that. - Whenever possible, give your employer the full two weeks of a two-week notice. If, for whatever reason, your employer needs more time from you, give it to them.People quit. You may feel like you’re the first person who has ever done this, but you’re not. What makes you stand out is either the incredibly rude and selfish things you do as an employee, or the kind, thoughtful, and helpful things you do. It’s what gets you promoted, and it’s what will get you your job back if you can’t make the startup dream work. So, if your former employer needs help, and it’s in your power to help, do so.