Should I Quit My Job?
Resource mentioned in video: Click HERE for the “cash cow job” video
Should you quit your job?
Right up front, let’s reframe that question.
Rather than asking, “Should I quit my job?”
I would recommend that you ask yourself,
“How risky is it for me to stay?”
“How risky is it for me to stay in my current job?”
If I stay, will that negatively or positively impact my chances of actually changing career, or starting my own business?”
That’s really what it comes down to.
In this video, I’ll share 3 classic scenarios with you, so you can self-diagnose and make the right decision.
Here’s the good news:
Nobody has to quit their job in order to start their career change or to start their own business on the side, because remember, a career transition is a process. It is not an event. It takes time.
That also means there are no excuses.
Everybody can get started, but let’s make sure you’re in the best scenario for doing it.
Hi – My name is Rikke Hansen from rikke.me.
I quit my job back in 2005. I used to work in HR for American investment banks.
Ever since then, through rikke.me, my online career change consultancy, I’ve advised hundreds of people as to whether they should quit their job, but more importantly, I help them design, test and launch amazing careers and amazing businesses.
What I’ll share with you in this video is what works in the real world when it comes to how to decide when to quit your job, especially in a world where we still need to make money and have bills to pay, so no pie in the sky.
What I’m sharing with you here is what works.
The 3 scenarios I want to share with you now are the ones I most often come across.
1. The Toxic Scenario
2. The Doable Scenario
3. The “Hair On Fire” Scenario.
I’ll explain all of them step by step.
The first job scenario is the Toxic job Scenario.
This is you if right now you are in a job where you’re either physically ill or psychologically totally burned out.
I see this a lot in many corporate professions. You work all hours of the day, there’s a toxic culture. You might even be bullied or you might not fit in.
Everything results in you being totally exhausted, having no mind space or energy for making any progress on the side on your career change or on your business.
If you’re really honest, even if you weren’t changing careers, you probably shouldn’t be staying in a toxic job like that because it’s slowly killing you, right?
In the toxic job scenario, yes, you do need to quit that job, but not in the way you think (unless you’re a millionaire).
What I generally recommend is that you quit, but you quit to go to what I call a cash cow job.
I’ve got a whole other video about the cash cow scenario; I link that below (Click HERE for that), but in short:
The cash cow job is using your current profession to initially finance your career change or your first business.
It means that you look for a similar job in a similar industry, but a job that’s going to allow you to find the mental space and also the time to change career or start your business on the side.
That means that you quit that toxic job and you move to the cash cow job to buy that mental space, to buy your health back, and to buy the time to start on the side. That’s very often what happens.
I often get emails from my clients saying “Hey, Rikke, I quit my job to go to the cash cow job, so now I can focus a lot more. I know my career change is going to happen, I know my business on the side is going to happen.”
Nicola, a client that I worked with last year who did my online course Your Career Change Map and decided she wanted to start her own business in the health space, when we worked together she was in a very toxic environment in a law firm and she knew that if she stayed, that business was never going to happen.
Together with me we designed a plan for her how she could exit and she found a job with less working hours and a lot less of a toxic culture. Maybe not something she would have gone for if she really wanted to make a career in law, but she didn’t. She wanted to change, so she jumped to that cash cow job and now she’s starting her business on the side.
Again, this is something I’ve seen with a lot of my clients. It’s totally doable. She just comes to mind because it happened last week.
The second scenario is The “Doable Scenario.
This is you if right now you are in a job that, even though you don’t want to do that job anymore and you want to change careers and start your own business, you can absolutely stay for a while because you are paid.
This is you if your current job allows you time and energy outside of work to focus on your business or career change, so no worries, you can stay. It’s doable.
The one thing I would say is just make sure that you have the right mindset in two ways, and that is
Be very careful with how you spend the time that you DO have available outside of work.
Be very clear about when you’re going to work on your career change, when you’re going to work on your business, and really be strict with yourself so you don’t end up getting too comfortable.
Comfort addiction is the enemy of career change.
Have the mindset of giving yourself a hard deadline as to WHEN are you ARE going to quit that job.
Give yourself a deadline so you know by when do you need to make enough money on the side, whether that’s through your business or whether you’ve saved up enough money so you can jump for the career change, and then you can leave. That’s how this works.
This is one of the most common scenarios for my clients as well, so stay and test drive and build on the side, and then jump.
There’s also a third scenario, because I know some of you are wondering where you’re going to fit.
The third scenario is what I call The Hair On Fire Scenario.
This was the scenario I was in myself, and it’s not necessarily something I recommend for legal reasons, but sometimes it’s the only way for people.
The Hair On Fire Scenario hair on fire scenario is very often what I see with the entrepreneurial types. Whether you are in a job that’s doable or totally toxic…
You feel like you have a window of opportunity to go and start that business, to go make the career change, and it’s NOW.
You know that if you don’t do it now, it’s probably not going to happen, so you go for it.
Your hair is on fire, you just need to go for it.
Maybe that’s the scenario you are in.
If that’s the case, which I sometimes see happen, just make sure you have some money saved up, or if you don’t, then make sure, especially those of you who are starting your first business, that you don’t do vanity stuff.
Don’t fiddle too much with your pretty website or with your pretty Instagram photos or your pretty postcards or business cards.
Focus on stuff that makes money straight away. Focus on getting clients, focus on getting that product out there, getting some feedback – Focus on money making activities.
That’s so important so you don’t end up wasting too much time not making money. I see this so much. I don’t want that to happen to you. I want you to be successful and to make money.
Also, the great thing about this scenario is that even if that doesn’t work out first, you can always go back and get a cash cow job scenario, so you can continue going for what you want, so there you go.
There is a scenario for everyone.
Remember, the litmus test is really how risky is it for you to stay?
If you’re on the toxic scenario, you need to leave and get that cash cow job. If you’re in the doable scenario, then you can stay for a while. If you’re hair on fire, you know what you need to do.
Make that decision and let me know what you decide.
If you need help deciding, that is pretty much a lot of what I do in my business, so come on over to Rikke.me and I’ll see you there.
On Own Business