Contemplating quitting your corporate job to become your own boss? [Thread]
Money
Making money is much easier when you have money. More importantly, having dry powder buys you time.
Starting with anything less than 6 months salary can be suicide. Bonus if you can get to a year saved up.
Flicking the switch on monetizing a new business isn't instant.
The fine print
Scrape through your employment contract to check for non-compete clauses, lock-in periods for approaching competitors, policy on recruiting existing employees.
Check what the notice period is, number of leave days you have to cash & how to transfer your pension.
IP
NEVER work on your personal business using a company device. Also resist the urge to send that sexy excel model to your personal email. Imagine chilling in Pollsmoor for a workbook.
Many companies run a check when you resign to check what you recently emailed & printed.
Skills
Level up as much as you can. Make a detailed checklist of everything you want to master before you bounce. Ideal skills are versatile, resilient and future-proof.
The more advanced your skills, the better your chances of someone paying you for those abilities.