I recently quit my job. I have always wanted to feel in full control of my time; as to whether that was a good decision or not we will see.
It has now been 3 solid months of no paycheck and I have been asked by several people who want to quit their jobs, what do you do? With school fees, medical expenses, rent and so forth, why would anyone quit their job? Some people thought I was being outright ungrateful for a good job.
What has been interesting is that i have met a lot of people who are in business, some who do not have a college diploma but are doing great things.
So this is how you quit your job.
1. Have a plan! Planning for exit from employment should be like planning for any big event in your life. I started by having an exit plan like what I will do when I exit. I set up my company in 2011 and started operations then, getting a few clients here and there. By the time, I quit my job; I had a few clients who could sustain my business. If you are going to quit in a year's time, incorporate your company now. See how to here. This helps especially when you are bidding for jobs, to show that your company has been in existence for a longer period. You will realize that it is very hard to break down the structures created by an 8-5 job, my system craved for it. I thought maybe I should go back. I even made one job applicationJ.
2. Set a financial target. Set aside six months of expenses that will enable you to live comfortably for the next six months assuming your grand plan does not work. Plan for everything food, fuel, rent, medical etc. that may come up. As an employee, I prided myself in the safety and security a job offered. This means medical cover, a consistent salary etc.
You need to feel secure when you are quitting your job. My system would go into turmoil if I realized that I had to downgrade my life. So I needed to feel secure despite the fact that I was losing my monthly salary.
3. Save, save, save! I started by living like I had no income for a year (literally). I set about 4 standing orders to take care of any situation that could arise when I was jobless. So this mean unnecessary expenditure like the coffee I am taking right now in a coffee house, shoes, clothes needed to be cut out mercilessly. Otherwise, I would have remained a slave to employment and to a lifestyle that I could never maintain without a job. I am lucky to have read the book "Rich Dad, Poor Dad" early in life (straight out of college) as it has defined the path that I have taken with my financial resources. Although I have done silly things like buying a car when I should have been investing in land (yawa), I have not adopted a lifestyle that could only be funded with a salary and that would ensure I was enslaved to my job forever.
4. Side hustle. "The hustle is real". Start your side hustle now! During your spare time (8 hours extra) start testing your side hustle. Preferably do something that you know. Do not allow your employer to take all your time. One day, the employer will carry out a restructuring that might leave you in the cold. So "mind your own business".
5. Worst case scenario- if you have been contributing to a pension fund, chances are that it is pretty decent if you have been in employment for seven years like I have. You can fall back on this cash (not advised though) but it is good to know that you can access this money if anything ever happens.
Entrepreneurship/self employment/business creates job opportunities in a country and it never hurts to try. In any case, if you have strong skills you can re-enter the job market but for me I am will to risk it and see what happens!