The way out of this rat race!

We all think about it (some of us more than others). Leaving paid employment and starting our own thing. I think it's an ambition that enables us reach within ourselves to evaluate our capacity. However, it isn't romantic, no no no, that, it isn't. So, if the only reason you are thinking of quitting your job and starting a business is so that you can: catch up on those years of sleep deprivation, report to no one, skip work days, pay yourself that dream salary figure ...... then be prepared for a rude shock and some.

Before you quit your job, start your research on the possible businesses you want to go into, the cost of commencing this business and running it, consider the basics that you would need for the business to be able to deliver to its intended clientele, how do you intend to source for this needed capital (family, savings, partners etc), understand that you may have to budget for minimal income generation in the first few years of business, as well as fixed or even increasing cost. The aim of putting all these (and more) in perspective isn't to kill the dream or paralyse you, but to ensure that you are somewhat prepared to succeed.

I would recommend that you read Robert Kiyosaki's book titled: "Before You Quit Your Job" .... you don't say!

Personally, I vote for starting the process while you are in employment. Apart from your savings, your income from employment can be a buffer from complete disaster or starvation (if it gets to that). Also, it motivates you to create a structure that can run independent of you, as well as, take certain risks.

All in all, regardless of the route you choose, whether starting your own business or taking an early retirement, if you want out, the key is to save! save!! save!!! and consistently save. That's the first step.