Is there a right way to quit your job and start a business?

Is there a right way to quit your job and start a business?

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.

When to break off from your former employer?

If you’ve decided to break off on your own and launch a business that’s competition to your former employer, heed these words of wisdom from a business law expert. Opinions expressed by Entrepreneur contributors are their own.

What happens when you lose an employee to a new company?

Losing an employee is losing information, revenue, and incurring the cost and energy of sourcing new talent, onboarding new employees, and getting the team back up to speed. Do not pocket the company stapler, a pack of stationery, or a box of pens.

Can you go back to work after starting a business?

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.

What happens when you quit your job to start your own business?

It looked like a mirage: on one hand, stay in an uninspiring office and live in a boring hotel; on the other, start my own adventure and craft my lifestyle. The idea of quitting and starting my own business became stronger and more tempting every day.

What happens if you quit your job without a notice?

Quitting your job without working your notice period, gossiping across the office, not completing your final assignments, and not training your replacement could be the worst decision of your life.

What to do when quitting a full time job?

In my corporate job, I knew exactly what to do: wake up, go to the office at 9, finish my list of tasks and duties, and follow my manager’s instructions. Communicate everything clearly, and you get praises and…eventually a promotion. It’s not easy, but it’s not complicated either.

If you’ve decided to break off on your own and launch a business that’s competition to your former employer, heed these words of wisdom from a business law expert. Opinions expressed by Entrepreneur contributors are their own.