I want to quit my job, should I risk becoming an entrepreneur?

Have you been thinking to yourself, I want to quit my job? Thinking about quitting your job so you can have more freedom, unlimited income, time to travel, and just more satisfaction in life? Have you ever wondered, should I take the risk of being an entrepreneur? Only you can answer this question for yourself! So, let’s look at the different types of entrepreneurs and business systems.

# 1- Home business entrepreneur

After the housing market crash, I went from nine rental properties to zero. I finally got a job in sales, and regardless of my sales success, I wanted to quit my job because I missed the benefits of being an entrepreneur: my freedom, being in control of my time, deciding how much money I could earn, and traveling when desired. Since the rich build networks while everyone else is looking for work, I decided to do what the rich do.

In late 2009, I made a commitment to build my network marketing empire. Whether you quit your job or not, there isn’t much risk of being an entrepreneur in the network marketing industry. Instead of quitting your job, you can start a network marketing business while still working for $ 500 or less. It is not a get-rich-quick scheme.

You need commitment, an entrepreneurial mindset, and learning marketing and relationship building skills. Without these, the chances of success are slim or nil. If you do a little research, you will find that most of the average people who become millionaires today took a chance on becoming entrepreneurs in network marketing. If you like people, team collaboration, residual income and wealth creation from the comfort of your home, being a network marketing entrepreneur may be a perfect business for you.

# 2- Self Employer or “Fake Business Owner”

I call fake business owners freelancers not because the person is fake, it’s because they don’t really own a business. They own a job and most of them feel that their self-employment belongs to them. I used to sell advertising to a lot of them and they even said that I was in a better position at my job than them! When they stop working, their income stops and this is a risk. I know you want to quit your job. I also know that if you risk being an entrepreneur as a freelancer, it is a bad risk. If you are a risk-taking entrepreneur and you want this, go ahead and make a plan B. Examples of SEs are small shop owners, artists, consultants, designers, and cleaning people.

# 3- Professionals and traders are also SE

These are self-employed entrepreneurs who have a license or a technical trade that includes doctors, lawyers, electricians, mechanics, massage therapists, real estate agents, and hairdressers. Again, this is not a real business because there is no real asset other than the owner. Giving up your job to replace it with a job of your own is risky business. Now if the owner creates a business with partners, employees, multiple locations, then this is a real asset and if they stop working they will continue to make money.

# 4- Franchises

These are your Mickey D’s and Jiffy Lubes. Your benefits include: turnkey operation, brand identity, training programs, existing marketing plan, proof of business success, and financing options. Disadvantages of franchising: high initial cost, limited flexibility, dependence on supply chain, designs, etc. franchisor fees, royalty fees, potential legal issues ending up in court. Keep in mind that after the initial investment of $ 100,000 and in some cases $ 1,000,000, it can take 2-5 years to see a return on your investment. Quitting your job to start a franchise isn’t that risky when you weigh the benefits. If you have the money to invest, take heart and take the risk of being an entrepreneur as a franchise owner. This is a smart risk and franchises, unlike 90% of new businesses, do not fail in the first five years. If you stop working, you keep making money!