You're Only 10 Steps Away from Being Your Own Boss 10 tips on how to make your dream of working for yourself a reality.
By Vince Del Monte •
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Entrepreneurship rates have been trending upwards in the United States for the past 19 years, and over the course of the pandemic, the unemployment rate reached a high of 14.7%, a rate not seen since The Great Depression. The lack of job security and massive layoffs have caused more people to turn to entrepreneurship in hopes of taking control, and I'm here to help. Here are my ten tips on how to be your own boss.
Related: The Complete, 12-Step Guide to Starting a Business
1. Don't quit your day job until your new business income exceeds your day job income for 8 months straight
I can't stress enough how important this first tip is. Some people think entrepreneurship is something you can learn overnight: it's not. You want to ensure that you are at a point in your entrepreneurial journey where you can be financially stable solely from your new venture. Quitting your day job to become an entrepreneur overnight is a recipe for disaster--wait until your new business can consistently exceed your current income.
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