When to Quit Your Job and Start a Business

It was quite easy for me, the company I was working for was based in Aldershot although the contract was in London. They called me on a Thursday morning saying they could not pay me as the time sheet had not been filled out correctly. I asked them to double check and make sure, they said it was to late as the banking had been done. As had 4 brand new gas boilers, several bundles of copper tube and tons of fittings belonging to them, the decission to leave was quite easy and took all of 30 seconds. I offered to return their stock once they had paid me in full, eventually I ended up selling it all to my customers

I think most people here run their own business anyway(except some SEOers)! If not, do it like those Innocent guys did. Do a poll and let public decide. Clever guys!!

Just depends on the business. If you can start something on the side I thing it is the best way. Business takes to to develop and grow.

I started my business on the side when I was 19, working weekends then within about 5 or 6 months had a enough business I knew it was time to leave my job without any risk. Obviously some businesses such as retail, may be difficult to do it that way.

Nothing wrong with testing the waters first: make money in a small way first to see if there's a demand. You'll also feel a lot better if you have something to fall back on.

It's terrible that people work for years in a job, living from paycheck to paycheck (and racking up debt to buy junk!). Odds are, something will knock you off your perch sooner or later.

I was made redundant but offered to stay on as a consultant. I decided then if the company did not have the money to keep me as a member of staff how could I guarantee they would pay me as consultant. I decided to walk away and start up on my own. Not having a job was what motivated me to start up. However, I wish I had been working on my business idea while I still had a salary. I say always make the most of every opportunity but until you are ready to go full steam ahead its good to have a back up wage!

well for me it's all about "situational opportunity"

starting a business requires opportunity and commitment - you really wouldn't know when to start it not unless you feel you are ready to give it 150% and possibly know that the opportunity of success is at least 50/50.

If your situation permits you too, and the opportunity and commitment is there - you will know its time.

When you work at company ,you can start to do your own business.Then you can pay for your daily bill with the sallary and at the same you can develop your business.If your business get up better and better ,then you can quit your job and spend your full time on it ,which can take you less trouble .

Hi Reg,

I totally agree with you, so many people just chug along literally living from pay check to pay check, heavily reliant on credit cards and overdrafts, it only takes a few things to go wrong for the house of cards to come tumbling down.

In the ideal world you would wait until you have thousands in the bank before you quit your day job. I think most business opportunities are not time sensitive so they wont suffer whilst you save money to make the full time jump, but of course if the idea is a right now, once in a life time opportunities its a much harder decision. It comes down to fate, luck and doing you due diligence, fortunes have been won and lost for making the wrong or right decision at the wrong or right time.

Made In London: the capital’s boom in entrepreneurship - Telegraph

Thought it would be helpful to post some inspirational stories of young Londoners who went it alone right from the start - most of the individuals in the article have not received a tertiary education. Whilst there is certainly security in a solid job and a University Degree having this 'safe option' could mean that you never end up pursuing that business idea you always dreamed of!