How do I leave a full-time corporate career and work for myself without going broke?

Question

How do I leave a full-time corporate career and work for myself without going broke?

Answer 1

Develop income streams that require relatively little time and effort to manage, like rental property, stock dividends, and small businesses. Once your income equals your expenses, you can leave the corporate job and do your own thing. Actually, once your income equals your expenses you can retire.



Or, just marry someone wealthy!

Answer 2

Do you have Capital to start a Business or Money to Buy a Franchise? Most businesses which do not require a big investment have very high failure rates, for example, Insurance Sales, Selling Cosmetics for some beauty firm, Real Estate Sales etc. Think about it, you do need money to make money.

Answer 3

Do a complete business plan, ensure that you cover everything - expected income and expense, target market all that kind of stuff, and do some market research first to see if what you will be offering will meet the demand.



Good Luck!! I have always wanted to work for myself.

Answer 4

This may not be the answer you want to hear....but put 100% faith in yourself and the universe. Believe you CAN DO IT! if this is really what you want. As they say in Forest Gump....life is like a box of chocolates you dont know what your going to get!

If you dont take a gamble in life...you will never know!

Good luck in your decission (hugs)

Answer 5

If you "work for yourself," you will become broke.



The only way to avoid that is to work for specific clients. How much will you earn?



Well, INCOME depends on OUTCOME.



The value that your clients will put on your outcome, will determine exactly your income.



You can either manage the quantity of your outcome, or its quality.



(Outcome refers to what you actually produce and deliver into the hands of clients).



Feel free to drop me a line from my profile if you have more questions. Good luck!

Answer 6

make sure you have some savings to live off of and a backup plan

Answer 7

Take note of your income and the money in the bank. Can you survive. If not please don't do it.