3 Reasons to Launch a New Business & Leave a Job You Hate

A large percentage of my clients start their own business to create an income doing something that gives them passion. We all have to make a living and it isn’t always to quit your job immediately – but you can start planning.

For many start-ups, a business plan is the bridge from your current life to your dream business. Business plan writing services Toronto can give you the confidence you need to tap into your skills and launch your dream business in Ontario.

Here are 3 reasons why you might launch a new business and leave a job you hate:

 

1) Jobs Are Less Secure Than Ever

As we know, the story of job security and the gold watch at age 65 is long gone. Instead companies are quick to layoff workers and skills rapidly become redundant. While business owners may have been the risk-takers in the past, today they can enjoy much greater job security than employed people today.

Why is this?

Because you have multiple customers - AKA multiple sources of income - not a single one. If you piss off your boss, you get fired from your one and only source of revenue. If you lose a client you barely notice. Plus, clients are faster and easier to find over a new job.

 

2) You Take Back Your Control

In a job your activities, your schedule and your behaviour are all highly controlled. When you start your own company, you regain your independence and sovereignty. You decide your hours and where you put your energy. You are in full control of your company’s culture and thus your behaviour. This can be the game-changer for many people who crave more freedom in their work.

 

3) You Can Make Significantly More Money

While a salary is quite fixed, company profits have no limit. If you manage your business wisely you can realistically 10X or even 100X your current hourly earnings. Plus you are building an asset which can in many cases be sold later.


"Do I Need a Business Plan To Start a New Business?"

This depends on your business. Bootstrap your business if you can - start small, reinvest your profits and grow organically by all means. But what if you need a store but don’t have $150K to invest? Or if you need equipment but know any investors?

Canadian lending firms like BDC are always looking for new solid start-up concepts to invest in, to grow the economy. If you are living in BC look for a good business plan writer Vancouver.

To inquire about Greg and Newton Group Marketing’s business plan writing services click here.