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I Have This Amazing Business Idea, But Scared To Quit My Job! - Career (3) - Nairaland

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Juju Scare: Should I Quit My Job? / I Earn Over 300K Monthly... But I Don't Love My Job / Should I Quit My Job Or Not? (2) (3) (4)

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Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Nobody: 10:26pm On Apr 25, 2017
Attitude of the OP seems she does not want opinion of faceless people in a faceless forum yet she is here scouting for someone to recommend her option for her. Some faceless person in the same faceless forum ?

I have made critical decisions in this life and the best decision was resigning from being General Manager, after spending all my finances on the construction of my first house, but then I left the job with just 200 Naira in my name, in my hand and no kobo in my bank account, I resigned for an idea, and that idea was not just an idea, it was a passion, I had feelings for it, I loved it like I loved any girlfriend, in fact if a girl was to make me sad, my business was my love.

If your idea is worth keeping secret, you will not be on this forum asking these question with that attitude. The forum might be faceless, but some faceless username belong to some humans who really see through the facades.

When you make that decision, let it be your decision and not influenced by the ripples of public persuasion, cos your Destiny is in your hand. Your hand, remember.

6 Likes

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by VcStunner(m): 10:27pm On Apr 25, 2017
AimingIncognito:
I have this fantastic business idea i've been thinking about for almost 2years but i'm super scared of quitting my job and venture into the business.

I actually took the job to save up for the business but along the line my dad advised i buy a land around one higher instutition in my state and build student hostels, so each time i save up to the require amount to set up this business,i develop cold feet and i end up using the money to develop the site.

I'm so into this business or let me put it this way: the business is so into me that i could search the internet for 5hrs Straight(mid-night,midday, on the move, in the office,anywhere and everyone- that is the only thing i think about),it got so bad that the only thing i gist my friends about is this biz.

Its almost 5am and i'm still wide-awake thinking and writing stuffs down about the biz logistics(its that bad)

My fam are a bit skeptical about quitting my job(when good jobs are hard to comeby) and starting a new biz.Also, i think they are just reasoning like a typical african parent by saying 'what if you set up with all you have in lagos and you end up settling down in another state?

I can't even think straight because once i clear my account again for my hostel project, i would hv to start saving allover again.

The probability that the biz would be a hit is 80%, but IF 'idea hackers' overtake me kpere! temibami niyen! cry I'm not too bothered abt 'idea hackers' really, nigeria population is too big for one person to monopolise an idea.

What should i do pls?

***i can't do both(office job and the business) It won't work


depending on where u stay, if your biz can employ atleast 5 direct jobs. Then I have an Idea that can give you 3million more to set off. Don't also forget that the best things are on the other side of our fears. What are you afraid of really? Where'nt u alive when u had no job? Now you wanna create some and u think God ain't on ya side? Take a step fam!
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by kabillion(m): 10:28pm On Apr 25, 2017
Whatever idea(s) u think u have n u refused to harnessed is spinning gold somewhere. Take the plunge u won't be drowned

1 Like

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Marosk1: 10:29pm On Apr 25, 2017
Yes U have a Biz Idea and the passion to make it successful. But Please let me state that the Idea remains an Idea untill U have started Something no matter how small. You dont need to resign your Job before starting any Bussiness irrespective of the Biz Idea. START from where You are and with what You Have and Start Now. I currently have a JOB and I still do my Bussiness on the side and even thinking of adding a Postgraduate Program for Weekends. So Pls Continue doing your Job and go ahead and set the Biz in Motion. Also its good You Start now that your Passion is still very Hot. Your Begining may be Small but Your Latter End shall Greatly Increase.. This also goes for all the Youths in the House.

2 Likes

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by sben2308(m): 10:32pm On Apr 25, 2017
AimingIncognito:
I have this fantastic business idea i've been thinking about for almost 2years but i'm super scared of quitting my job and venture into the business.

I actually took the job to save up for the business but along the line my dad advised i buy a land around one higher instutition in my state and build student hostels, so each time i save up to the require amount to set up this business,i develop cold feet and i end up using the money to develop the site.

I'm so into this business or let me put it this way: the business is so into me that i could search the internet for 5hrs Straight(mid-night,midday, on the move, in the office,anywhere and everyone- that is the only thing i think about),it got so bad that the only thing i gist my friends about is this biz.

Its almost 5am and i'm still wide-awake thinking and writing stuffs down about the biz logistics(its that bad)

My fam are a bit skeptical about quitting my job(when good jobs are hard to comeby) and starting a new biz.Also, i think they are just reasoning like a typical african parent by saying 'what if you set up with all you have in lagos and you end up settling down in another state?

I can't even think straight because once i clear my account again for my hostel project, i would hv to start saving allover again.

The probability that the biz would be a hit is 80%, but IF 'idea hackers' overtake me kpere! temibami niyen! cry I'm not too bothered abt 'idea hackers' really, nigeria population is too big for one person to monopolise an idea.

What should i do pls?

***i can't do both(office job and the business) It won't work









Pls can u share d business with me Sben2308@gmail.com or whatsapp 08035079449 . Let's juggle ideas. Thnx in anticipation
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by damola1: 10:37pm On Apr 25, 2017
the problem is you are a girl.

I have never been in this kind of position, so I don't know what to say.

But what I can tell you, as someone who as executed multiple ideas successfully. Is that your idea is good, but your execution must be better, else na competition dey look you so... and the earlier you kick start the better. your idea cannot be same in the next 12 months. must have evolved.
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by michaelogunleye(m): 10:39pm On Apr 25, 2017
ViktorMartins:
Why not finish your hostel construction before continuing this? You already mentioned you can't afford to continue the building and also invest in the biz; just finish the hostel first. I won't advise you to quit straight away, so far you said uve been researching on the idea, that means u got a team already, if not, get a team first... You can surely manage the two, work and biz if you can compartmentalize your life's activities
i consider this as the best advice, get a team of about three start the business with each of you having a defined role.
Rule 1; No 100% trust in business

1 Like

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by idu1(m): 10:39pm On Apr 25, 2017
Which kind idea come be that wey ppeople neva get before
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by cooldood(m): 10:41pm On Apr 25, 2017
AimingIncognito:
Thanks everyone.

@eggcelent: I wish its a kind of business I could handover to a family member while I'm at work but unfortunately I have to oversee what's going on almost all the time, part of the business require some skills which I'm really good at.

I would appreciate more suggestions plsssss
Hi.

Send a p.m to me,I work with an Investment Bank so we'd execute an NDA first before you share an executive summary of the idea with me.

If its viable,could also assist you with capital raising.

Cheers.
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Ayanfeoluwaoba(f): 10:41pm On Apr 25, 2017
In my opinion, since she is owns the idea she has to be available, only she can sustain the business through the teething stage.

Eggcelent:
Eno38151 She didn't mention the idea. She only said her Dad suggested building hostel accommodation at a vantage spot. A project which has been gulping her saved-up capital for her dear business idea.

Aimingincognito. I understand why some of your friends would advise against quitting your day job. The risk in business is always there. Is it possible to get a trusted, focused & motivated but yet-to-be-employed relation to manage the business at its inception? Then you can quit your job when the business proves successful. With that you won't have to quit your job & you can still actualise your business desire.

Success!

1 Like

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by natznext(m): 10:43pm On Apr 25, 2017
Eggcelent:
Eno38151 She didn't mention the idea. She only said her Dad suggested building hostel accommodation at a vantage spot. A project which has been gulping her saved-up capital for her dear business idea.

Aimingincognito. I understand why some of your friends would advise against quitting your day job. The risk in business is always there. Is it possible to get a trusted, focused & motivated but yet-to-be-employed relation to manage the business at its inception? Then you can quit your job when the business proves successful. With that you won't have to quit your job & you can still actualise your business desire.

Success!

You don't know the business ooo...
From experience, hiring relations is highly unprofessional, they can't be held accountable most times
Build an avater of what you want in a manager, call for recruitment, trust me you'll be surprised at the workforce stock you' get to chose from
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by olubenjazzy(m): 10:43pm On Apr 25, 2017
I couldn't even be calm to read through but If I'm clear about the little I grab from the post above then I will conclude my comment with my mentor's quote -

If u don't build the house/hostel, someone else will.

If u don't start the business, someone else will.

GOD WONT CHANGE HIS PLAN, HE CAN ONLY CHANGE THE MAN.


YOU ARE THE MAN WITH THE IDEAL NOW, EVEN IF U ARE SCARED OF THE IDEAL BEING STOLEN AND U ARE NOT YET WORKING ON IT. IT will be reavealed to SOMEBODY ELSE.


Take Action NOW my brother.

1 Like

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Kingsize4eva(m): 10:45pm On Apr 25, 2017
[quote author=pressplay411 post=55825720]All I hear from you is Passion Passion Passion which is what sells an idea.
If you're confident about the success of the idea which I think you are, then the rest would fall in place like Tetris, don't worry, whatever you're making now would actually be like peanuts when your business starts picking up.
Of course there'll be initial challenges but that's normal, just ensure to get professional advice from those in your business industry to prepare you better for the dynamics.

But do make sure you save up enough capital and be very selective of staff. An idea/business is only as successful as it's human resource, integrity and dedication is what you should look out for.


How are you ?U can chat me up dear, am equally a business oriented guy.
Inbox me on Kingsize4eva@gmail.com, let's do some business.
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by chiefolododo(m): 10:50pm On Apr 25, 2017
It is risky to quit your job
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Nobody: 10:53pm On Apr 25, 2017
AimingIncognito:
I have this fantastic business idea i've been thinking about for almost 2years but i'm super scared of quitting my job and venture into the business.

I actually took the job to save up for the business but along the line my dad advised i buy a land around one higher instutition in my state and build student hostels, so each time i save up to the require amount to set up this business,i develop cold feet and i end up using the money to develop the site.

I'm so into this business or let me put it this way: the business is so into me that i could search the internet for 5hrs Straight(mid-night,midday, on the move, in the office,anywhere and everyone- that is the only thing i think about),it got so bad that the only thing i gist my friends about is this biz.

Its almost 5am and i'm still wide-awake thinking and writing stuffs down about the biz logistics(its that bad)

My fam are a bit skeptical about quitting my job(when good jobs are hard to comeby) and starting a new biz.Also, i think they are just reasoning like a typical african parent by saying 'what if you set up with all you have in lagos and you end up settling down in another state?

I can't even think straight because once i clear my account again for my hostel project, i would hv to start saving allover again.

The probability that the biz would be a hit is 80%, but IF 'idea hackers' overtake me kpere! temibami niyen! cry I'm not too bothered abt 'idea hackers' really, nigeria population is too big for one person to monopolise an idea.

What should i do pls?

***i can't do both(office job and the business) It won't work


All I see is confusion. You can combine work and business. If you can't then your business won't even smell the next phase if you quit your job for it. Why do I say so? You are scared to take that risk and that's why you have come on here. If you want to succeed in your business, continue with your work, implement your business plan and start attracting customers. Make sure you are generating revenue even if you are not making profit yet before you quit your job. There is nothing like "idea hackers" if you can't share your idea then it's not even a successful already. There are many factors that turn an idea into opportunities. These factors are what you should be bothered with not "hackers".
Priotise what your business needs at its early stage i.e is it capital, your time, People, huge number of customers. This will also help you. I want to believe it won't be a capital intensive idea because if it is, you will have to resign.
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by uscofield: 10:54pm On Apr 25, 2017
Are you married? If yes, work hand in hand with your husband. If no, finish the project at hand and start the biz.
As per your job, Have you ever asked yourself this question, " what if I lose this job tomorrow, what will i do to sustain myself"?
You are working, Yes, but for another man. You cannot work there forever.
Note:
The path to success is always rough and sometimes tough. Only with persistence and steadfastness can you overcome.
Keep making your plans, work on the project at hand, save money (no amount is "enough"wink, at the RIPE time, you will start that biz.
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by munex007(m): 10:55pm On Apr 25, 2017
Your salary is the bribe they give you to forget your dreams...

2 Likes

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by omolorlarh: 10:57pm On Apr 25, 2017
Tomjazzy2:
OP may be you just have to hang on with your job, finish up the hostel project, start saving up for the business, when you are ready, then you quit the job.


But be sure to know the possible risks associated with the concerned business. One thing about venturing into business is that it may look all rosy from the outside.


If the business is a virgin idea, you have to be extremly careful in terms of drawing up the plan. If it isn't an entirely new business, you can then seek the advises of those already in that line of business.


Goodluck all the same
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Student125(m): 10:58pm On Apr 25, 2017
I don't know if whatever I say count but it will be on record someone said it. I learnt few things in life with my few days on earth, one of which is IF YOU DON'T BUILD YOUR DREAMS, SOMEONE ELSE WILL HIRE YOU TO BUILD THEIRS. which is what you are doing collecting salary right now, like someone said finish your hostel project first and chase ur dream squarely, I believe if you've been preparing for 2yrs as u claimed with dedication, passion and perseverance, even if the business have hiccup at a point, you are going to overcome it. Nothing good comes easy and also remember u can't eat your cake and have it. if at the end, d biz failed, and you wanna get a new job, your experience and connections from your present job will give you way if you are good because you will b a hot cake that moment. Then you will be fulfilled you gave ur best shot but ddn't hit the mark rather than procrastinating. Goodluck
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by inquisitor: 10:59pm On Apr 25, 2017
Complete the hostel and use the income generated from it to finance the business
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by 1k001(m): 11:01pm On Apr 25, 2017
AimingIncognito:
I have this fantastic business idea i've been thinking about for almost 2years but i'm super scared of quitting my job and venture into the business.

I actually took the job to save up for the business but along the line my dad advised i buy a land around one higher instutition in my state and build student hostels, so each time i save up to the require amount to set up this business,i develop cold feet and i end up using the money to develop the site.

I'm so into this business or let me put it this way: the business is so into me that i could search the internet for 5hrs Straight(mid-night,midday, on the move, in the office,anywhere and everyone- that is the only thing i think about),it got so bad that the only thing i gist my friends about is this biz.

Its almost 5am and i'm still wide-awake thinking and writing stuffs down about the biz logistics(its that bad)

My fam are a bit skeptical about quitting my job(when good jobs are hard to comeby) and starting a new biz.Also, i think they are just reasoning like a typical african parent by saying 'what if you set up with all you have in lagos and you end up settling down in another state?

I can't even think straight because once i clear my account again for my hostel project, i would hv to start saving allover again.

The probability that the biz would be a hit is 80%, but IF 'idea hackers' overtake me kpere! temibami niyen! cry I'm not too bothered abt 'idea hackers' really, nigeria population is too big for one person to monopolise an idea.

What should i do pls?

***i can't do both(office job and the business) It won't work



Many people here haven't been faced with this decision so be careful whom you pay heed to.

I was in your shoes a few years ago. Check out my own story in my signature.

I started my own business while I was working full time. The people I put in charge of it ran it terribly. So I quit my job to run the business full time. I was spending most of my time on it anyway and wasn't putting in my full effort at my job as a result. So it was only natural for me to quit and face the business full time.

Having done it my advice would be that you will know yourself when its right to quit. You will feel going to work become harder and harder that you will have no choice but to quit. Take note of this as it may not necessarily be the best thing to do. The reality of new businesses is that the vast majority of them fail, so be aware of that. Your idea may be amazing but still doesn't mean it will fare any better than the thousands that fail daily.

Looking back now the best things I could have done would be to minimize the personal risks by building large enough savings/ cash buffer. New businesses often don't make money for the first few years. So try to create something that provides you a regular cash flow no matter how small. Reduce your regular costs. If possible ensure you don't have to pay rent or many bills. When you stop earning a salary, your savings will disappear very quickly.

Also, you can actually start to test your business in your spare time. Understand the concept of an MVP - minimum viable product. Look for early customers, start to sell the product/ idea. See if it's something people will actually pay for. These are things you can do while still in a job. Thes things will start to demonstrate whether it is a viable idea or not. Remember that execution is what matters, not ideas per se. So start executing even before you leave the job, also a business plan is not really execution.

So it's up to you to decide but be careful and don't just be lead by passion, temper passion with reality.

2 Likes

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Nobody: 11:01pm On Apr 25, 2017
5DMindset:
Attitude of the OP seems she does not want opinion of faceless people in a faceless forum yet she is here scouting for someone to recommend her option for her. Some faceless person in the same faceless forum ?

I have made critical decisions in this life and the best decision was resigning from being General Manager, after spending all my finances on the construction of my first house, but then I left the job with just 200 Naira in my name, in my hand and no kobo in my bank account, I resigned for an idea, and that idea was not just an idea, it was a passion, I had feelings for it, I loved it like I loved any girlfriend, in fact if a girl was to make me sad, my business was my love.

If your idea is worth keeping secret, you will not be on this forum asking these question with that attitude. The forum might be faceless, but some faceless username belong to some humans who really see through the facades.

When you make that decision, let it be your decision and not influenced by the ripples of public persuasion, cos your Destiny is in your hand. Your hand, remember.
Thumbs up!! Real Entrepreneur you are.
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by gergemam: 11:05pm On Apr 25, 2017
AimingIncognito



Hello ma'am, I don't have much to say but my advice to you. Seek for a COACH/MENTOR who has gone ahead of you for advice.

No Business Idea is new under the Sun, seek for someone who has done or doing what you wanna do or doing what you do that is related to his/her business. Emulate them and let them be your master so you can ride on a prosperous wings. #MyOpinion
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Nobody: 11:05pm On Apr 25, 2017
hmmm...
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Nobody: 11:06pm On Apr 25, 2017
AimingIncognito:
Thanks everyone.

@eggcelent: I wish its a kind of business I could handover to a family member while I'm at work but unfortunately I have to oversee what's going on almost all the time, part of the business require some skills which I'm really good at.

I would appreciate more suggestions plsssss
technical skills?? The type you you with your hands. If yes, how about your weekends??
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by crisisexpert321(m): 11:06pm On Apr 25, 2017
Send a mail to me. Gbam solution in your box. ASAP!!! Check signature
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by shadeyinka(m): 11:08pm On Apr 25, 2017
AimingIncognito:
Thanks everyone.

@eggcelent: I wish its a kind of business I could handover to a family member while I'm at work but unfortunately I have to oversee what's going on almost all the time, part of the business require some skills which I'm really good at.

I would appreciate more suggestions plsssss

It looks like you earn some good pay.

Your Dad is right.
The hostel idea is for you to earn some passive income. Something to fall back on if your business doesn't work out.

Trust me, the best business idea, with enough capital and personnel fail big time. That 20% is real o. Very real.

Finish your hostel then you can then resign and build your business


But then who says you have to resign to start your business. Build the framework while you are still employed, put things in place.

Have you ever ventured into business before?
If this is your first attempt, I beg you don't resign until you have learnt to buy, make and sell.
Signing Off

2 Likes

Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Nobody: 11:09pm On Apr 25, 2017
AimingIncognito:


So you want me to mention my business idea on a forum with almost 2million members. You really must be high on hot zobo o

Besides, i don't need 'help', what i need is advice.

Leave me alone let me call the mods oo, izit your call? tongue
it's an idea... it's worth Zero dollar. An idea is of no worth if it has not been worked on. So @ this stage it's so useless hun.
@ secon bolded.. you seem really confused. "You don't want help but advice". An advice is a form of help!
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by oodua1stson: 11:09pm On Apr 25, 2017
AimingIncognito:
Thanks everyone.

@eggcelent: I wish its a kind of business I could handover to a family member while I'm at work but unfortunately I have to oversee what's going on almost all the time, part of the business require some skills which I'm really good at.

I would appreciate more suggestions plsssss
illsuggest you venture into the business when you're in leave
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by YTderin(f): 11:16pm On Apr 25, 2017
AimingIncognito:
Thanks everyone.

@eggcelent: I wish its a kind of business I could handover to a family member while I'm at work but unfortunately I have to oversee what's going on almost all the time, part of the business require some skills which I'm really good at.

I would appreciate more suggestions plsssss
Get a partner. Partnership isn't so bad.
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by Nobody: 11:20pm On Apr 25, 2017
That leap of faith and believe is what separate billionaires from the rest of the pack. If you are 80% sure and have properly researched it, I personally do not see why it wouldn't work. Trust me, you don't want to regret this
Re: I Have This Amazing Business Idea, But Scared To Quit My Job! by sleekender(m): 11:24pm On Apr 25, 2017
You'll be making a mistake by quiting your job for your startup without any good foundation. I was in your situation a few years ago. A few pointers:

1. If you must quit make sure you have your running capital and operating funds to sustain your business for 1 year minimum.

2. Have sufficient funds to cover your living expenses for 1 year minimum.

3. Before you quit, start up your business fully. Hire a paid temp (use university students or NYSC) to cover the running around.

4. Use your weekends and evenings to execute your business operations. Steal some office time if possible.

5. Monitor the growth and make use of partnerships (skilled and financed). If your cash flow stream is greater than your salary then start planning an exit strategy from your job.

6. You must not quit if you can manage both....I'm currently in similar both and enjoying both income streams. I have invested in people's ideas but passion alone doesn't cut it. Financial planning and resilience does it.

Best of luck.

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