Each time you find yourself caught between needing to save your paycheck and wanting to pursue your passion, it may lead to bitterness, apathy, and frustration towards your employer.
At times, it could be tempting to just run and cut. Nevertheless, the best approach is having a well-designed exit strategy so that it helps a smooth transition for you and your employer.
Typically, when you feel you’re stuck with your job, this is because it no longer serves your professional needs or you have outgrown a position with small to no room for advancement.
The job starts to feel more like a barrier that stands in the way of your desire to do better and bigger things. To make things much complicated, having financial obligations, family or both could mean that people are depending on you to be responsible fiscally. However, never despair.
There’s a way to leave your job without going bankrupt. If you’re ready to take an action, a good exit strategy is a great way to build your future without sacrificing the perks of the remaining employed.
Below are some of the questions you have to take for consideration when making your own exit strategy:
- How soon do you want to leave? Putting the actual date to your exit strategy will help you make more accountable for following through your strategy. It also provides you a time frame to tie up the loose ends and investigating the steps you require to take get maximum benefit out of the things including sick time, vacation, 401k, and medical insurance.
- If you consider quitting your job now, do you have savings to sustain you for the next six months? When it comes to savings, it means money that you’ve accumulated in the long run, yet are now willing to part with to pay for the bills monthly and daily requirements. Other than that, you have to determine the sacrifices that you are willing to make financially if your cash flow changed after you exit. For instance, pedicures, manicures, trips to the Starbucks, salon visits, cable TV, and so on could be the things that might get sacrificed to have more money that’s available for the necessities.
- Is minimizing your workload is an option? Once you can swing it financially, use extra time building your personal brand, network with other people, and establish yourself as a professional or authority in a certain field or subject. The activities including writing a book, blogging, going to conferences, and more are good ways to get your name shine out and begin connecting with people who share your interests and passions.
- If you desire to go into a business for yourself, what are the steps you should take? Secure the web domain name, explore the legal requirements, prepare the business plan, scope out the competition, evaluate the market for your service or product, determine the startup costs, and much more.
- Is your career move geographically situated where you are currently? If you’re searching to make a huge move, you must schedule time for travel.
Once you take these considerations in mind, the job seems more of a blessing and less of a burden because you know that it’s serving as financial resource that enables you to build your dreams.