8 Reasons why now might be the time to quit your job and build your business

Pure genius or total madness… there’s only one way to find out! As an early stage founder — I recently took this leap myself so I wanted share some of the methodology behind my madness!

Yep — this is crazy me… starting my journey at www.antler.co/stockholm

Now you might read the title and think… no way; especially not now — look out the window — people are losing their jobs and the pandemic is far from over; with the full economic impact yet to be felt.

Disclaimer — I’ve recently left my “safe” corporate job and salary to go and build an early stage tech company. Statistically I know the average failure rate is ~75% but I’m still doing it (wish me luck and check out www.kindana.co )

Necessity is the mother of invention — Socrates

1. We’ve seen the world change over the last 12 months in a way that none of us would have expected in our lifetimes. Our needs have evolved as a result of the need for better standards of hygiene, remote working, increased needs to connect and stay sane, and many more. It’s often these external drivers in our lives that open up not just opportunities, but chasms of opportunity. Many of the largest companies in the world were borne from times of economic recession, from General Motors and Disney in the first half of the 20th century; to Air BnB in more recent times. Many investors ignored Air BnB at first because, well why on earth would I let a stranger into my home. But at time where money was tight; consumers were prepared to change their behaviours; and this necessity has borne some of the worlds biggest companies. Pandemic borne changes have and will continue to bring about new opportunities; long after the world is vaccinated.
2. No regrets — ever. How often do you hear someone on their deathbed say how much they regretted the things they did, vs the things they never did? Life is short; and we don’t know when ours will end. If you have an idea, something you want to do — then do it — try it! The very worst that happens is you will need to go back to a full time “day job” afterwards and most likely a much more well rounded person.
3. Starting a business helps you to learn and grow. Think now to your day job; the daily (and often monotonous grind). Very few of us are lucky to say that we absolutely love our jobs. Starting a business with something that you are passionate about will develop your skills, hone your personality, and challenge yourself as a person. I always try to do one thing per day that makes me just a little bit uncomfortable; and starting a business is a great example of this. Even if you fail (and the odds say you absolutely might!), you will learn so much about yourself that you can add additional value to any job you do in the future.
4. Take charge of your own destiny and reap the fruits of your labour. How many hours have you worked at your job, versus actual results you’ve seen, and even less the reward you get for it. Especially at a time of global belt tightening your reward is likely to be less and less. By starting your own business, you know that each hour invested is an hour that directly contributes to something that you’ll be able to see the tangible benefits from (and hopefully reap the rewards of too!). This is also so good for your mental health too as a bonus!
5. Work your own hours. Now, caveat this with being your own boss also means no holiday or sick pay, and you may very likely end up working more hours than before. But you have the absolute power to be in control of this; and to work when you like (obviously around any customer and clients of course) but you are far more in control! You’ll also likely be 100 x more passionate, driven and productive during these hours. (Although still likely very tired).
6. Be in charge of your vision and do something that makes you passionate — imagine doing a job that you actually want to jump out of bed for; one where you reap the rewards and most of all something you believe in. Be the driver of your own culture and values — create your own from the ground up and be proud as you see that embedded within your team.
7. Your 9–5 job likely isn’t so safe anymore. The true economic fallout of the government bailouts and pandemic across the world likely haven’t been felt yet. The UK furlough scheme is an example that is keeping many safe that may lose a job when it ends. The rise of tech, AI and automation also means that many industries and jobs will continue to be automated over the coming years; perhaps even accelerated by the pandemic. More than ever before, the comfort blanket of the “safe job” is looking far less stable. Perhaps it’s time to take control…!?
8. You likely have skills and abilities that you didn’t know you had. Many of us will go through our working lives building up experience that we think is run of the mill and normal; but framed in the right way; could be something you could monetise. Perhaps your years of project management would make you a great Chief Operating Officer of a small company, or maybe your skills in business modelling would make you a great business coach.

So how to explore taking this step — my approach was to sit down and brainstorm some ideas of things people will need in 12 months time that they may not need now, opportunities that may emerge from the pandemic that haven’t yet been done. I also brainstormed what my strengths and weaknesses were and tested these ideas with people that I did, and didn’t know. After a period of validating my idea I decided that I would be living in the regret camp if I didn’t do it — so here I am. I would also suggest when thinking these things through, think of how technology might shape your current profession in 5–10 years; will your job be needed anymore?

In short — it’s scary, I feel totally vulnerable, uncertain, and definitely unsure if I can actually do this; but I can tell you one thing for sure… I feel amazing holding my destiny and success in my own hands and doing something I’m passionate about, with even a chance of success being totally worth it. I say this now…ask me again in 12 months time and maybe it will be a very different story!

I’d love to hear what you think — so comment below, or reach out to me direct!