Leaving your day job to start a home-base business is stressful, but if you plan properly, you can succeed. Depending on which type of home business you want to start, working from home is possible if you have a computer, Internet connection, and a workspace. You may also need to invest in printer, fax machine, and separate phone line if you need to talk with clients on a regular basis. The only other expense may be for marketing materials, website, or listings in phone directories. Researching your needs before starting your business can help so you can prepare a budget.
Before leaving your day job, make sure that you have enough in your savings account to cover at least three months worth of expenses. Because many businesses take at least two before you will see any profits, being prepared and not having to worry about living expenses and paying for emergency situations will help you concentrate on starting a solid business without being pressured to make a profit right away. If you have a spouse, make sure you discuss your idea with them. If they have a health insurance plan, ask them to add you to it if you are not already on it. This will save money in having to buy your own policy.
If you are planning to use your job as a reference or if you are planning to become a consultant for the company, make sure you leave your position on good terms. Give ample notice so your employer can find a replacement. If you are planning to become a consultant, maintain your current contacts as they may become useful later on.
Making the transition from working in an office to working from home is difficult for some people. The need to work all the time because you have access to your computer, and the potential ruts you will get into when working by yourself can be frustrating in the beginning. By developing a routine and sticking it will help you make the adjustment. Expanding your business and focusing on the future will also help. You should create a business plan that can help you reach your goals or at least define them. This will give you a greater sense of purpose.
When you are ready to leave your day job, you should have a solid plan on where you want your business to go. If you will be staying in the same field, take the skills you have learned and use them. Keep in mind that it will take hard work and determination to reach your goals, but that you will reach them eventually. Networking with other business professionals can help you increase your client base and help you make the transition even easier.