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Your experience on quiting employment to start business.
mdosi
#1 Posted : Friday, July 16, 2010 9:47:58 PM
Rank: Member

Joined: 2/1/2007
Posts: 112
Location: Nairobi
I have been thinking of moving on and start my own business after being in my current job for two years now. I identified the kind of business i want to do over 9 months ago and i've been researching on the same since then. I'm on the verge is starting the biz and keep it going for 2 months before quiting. I know to some of you this is a familiar road you followed and i would like to know what were your experiences.
It's amazing what you can achieve when you get rid of fear.
inf8nity
#2 Posted : Friday, July 16, 2010 11:46:09 PM
Rank: Member

Joined: 7/24/2009
Posts: 80
well finally something that will get u to be a mdosi.smile

Congratulations on this decision. My advice would be apart from waiting for your biz to take shape like in 2 months or so before quitting, also make sure you have savings on your account that can sustain you for at least 5 months or so in case ur biz doesn't generate the expected income within the 1st few months. Finally you will always be having this voice telling you to wait until next month so that u quit even if the right time has come. Just tell that little voice to shut up and do it coz the only way to move forward is to break the bridge so that there is no going back.
marex
#3 Posted : Saturday, July 17, 2010 12:03:03 AM
Rank: Member

Joined: 10/4/2007
Posts: 656
I established a business when I was still working, when it picked up..I quit ma job..consider that way
The way I am
Mwafrika31
#4 Posted : Saturday, July 17, 2010 10:25:54 PM
Rank: New-farer

Joined: 6/18/2010
Posts: 95
@mdosi
I have direct experience in this. Unfortunately for me, I had a complete disaster. This is what I learned;
- do your due diligence be very patient as you do this
-the GOK will be a headache
-hedge your bets
-expect the completely unforseen
- expect delays, problems, and failure

If you lack serious determination I'd say don't do it. Remain an employee and just suck up to your boss.
mdosi
#5 Posted : Saturday, July 17, 2010 10:48:28 PM
Rank: Member

Joined: 2/1/2007
Posts: 112
Location: Nairobi
@Inf8nity. Thank you for your heads up. I met with a former college mate who quit his job for biz last year and the dude went for 5 months without an income. I will make sure i have enough saving to cushion me for 4-5 months.
@Marex. I was almost quiting before starting the biz but i talked to a few friends who advised me otherwise. Thank God i had not drafted that letter yet.

Anymore recommendations or comments out there?
It's amazing what you can achieve when you get rid of fear.
leona
#6 Posted : Sunday, July 18, 2010 7:31:06 AM
Rank: Elder

Joined: 8/1/2008
Posts: 1,432
Location: Marsabit
Well, personally i think it all depends on what kind of business you want to start,your experience in that field and of course your passion in it. There's a reason why they say,you can't have your cake and eat it. If you have decided to quit your job and pump all your energy,focus and passion on something that is totally beneficial to you and your future...then trust me,you will survive in business.But if you're still hang up on your monthly cheque and fear not having you rent at a certain date come end month,then business isn't for you!
Business is about being bold,believing in yourself and being ready to face the worst. It takes a while to build a business but the long term fruits are very sweet. So,if you think you've got it..then dont listen to people..just DO IT
Nevermind what haters say, ignore them til they fade away - Just live your life
mdosi
#7 Posted : Sunday, July 18, 2010 3:25:42 PM
Rank: Member

Joined: 2/1/2007
Posts: 112
Location: Nairobi
Thanks @Mwafrika31 and @Leona. I resolved last year to venture into business and in doing what i love. I'm fed up with living on a rat race where every end month i can only anticipate my pay cheque which is fixed irrespective of how hard i work. I feel if channel all my energies into doing something for me, i can achieve the proverbial financial freedom and stability. I have come to dislike the monotony of my current job too and i'm seeking something different.

keep your contributions coming, i appreciate them a lot.
It's amazing what you can achieve when you get rid of fear.
youcan'tstopusnow
#8 Posted : Sunday, July 18, 2010 11:13:34 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Build your dreams, otherwise someone else will use you to build theirs
GOD BLESS YOUR LIFE
kadonye
#9 Posted : Monday, July 19, 2010 8:08:59 AM
Rank: Elder

Joined: 5/30/2009
Posts: 1,390
Nice topic.But I think it shd b under SME not clubsk.Wazua,pls move it to the relevant place.
What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
kadonye
#10 Posted : Monday, July 19, 2010 8:11:56 AM
Rank: Elder

Joined: 5/30/2009
Posts: 1,390
@mdosi, there was another thread titled 'How did you start'.Maybe it could be of help
What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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