Should I quit my job and focus full-time on my business venture?
Hello, I am a mother with rent and alot of expenses. I have two business ventures that I am working on one is selling handbags and costume jewelry on the weekends at street fairs. The other is I do Professional resumes for people in my community. I want to take my handbag venture further and start designing my handbags. I get stuck and don't know what to focus on. I feel real positive about everything I am doing. I have good people surrounding me and alot of support. I am not afraid to fail but I want to know should I really quit my job or wait until my demand is overwhelming and then make a decision. Help, help, help!
I suggest you plan a break even point unless you have financial backing for your handbag business. Leavng a job, with known income, for the uncertainity of a full time business can be so stressful that the pressure to produce just overwhelms you. I would look for a better paying part time job and/or get a better paying full time job so you can sock away some money for your business. Look for ways to pssively sell your handbags such as e-commerce so you can build a fund.
No, do not leave a full time position until you have some money behind you.
Creating a MAP will take no more than an hour of your time every month and will keep the lines of communication open, ensuring relationships with investors remain strong, and ultimately helping early-stage startups succeed.