Workin’ 9 to 5

By Evangelist Neechy Dumas

The thought of actually keeping your 9-5 job probably seems like a strange statement coming from anyone who is a full time Entrepreneur, but the truth is, being your own boss (or NOT having a 9 to 5), has become glorified over the last several years, and we’ve lost the true context of what being “self-employed” really means. Obviously, running your own business requires taking a leap of faith--knowing that you have to hustle every day. But there’s no need to add stress on to your “already-full” plate by giving up your day job; especially if you have no solid plan or consistent finances in place. Let me share a few different scenarios with you. Each of these individuals had a regular job at some point, but left their job in order to venture out into full-time Entrepreneurship. 1. JOE • Married, two children, works at one of the big automotive companies. Has a mortgage, car note and other financial responsibilities. Joe has had two fairly good months selling his new nutritional beverage. He gets excited and quits his job, with the thought that he will continue to grow his business. His wife, Sheila, gets pregnant and has to take an early leave from her job. What does Joe do at this point? Would keeping his job have been beneficial until the business made enough income to sustain the household? 2. KELLY • Single, lives with her grandparents, has no true financial responsibilities. Makes a fair number of consistent sales with her stationery business and seems popular on social media. She quits her job at the Veterinarian Clinic to become a full-time craft and stationery seller. Kelly has $350 saved up. Two weeks later, she unexpectedly needs new tires due to hitting a pothole, which will cost her $600. Kelly overdraws from her business account to pay for the tires. Will she be able to purchase the next set of business supplies and inventory? 3. CANDICE • Newly divorced single mom of three, works for a law firm, $65,000 a year salary with benefits. Candice has saved up enough money to cover living expenses for 5 months. She’s had consistent sales with her new candle business, and feels that leaving her job would allow her to pursue and build the business full time. Candice quits her job. The hot water heater in her basement goes out and needs to be replaced. Candice pays for it without issue. Which of these people made the correct decision? Which of these people, perhaps, could’ve stayed on the job for a little longer? Certainly, there are many variables to every scenario, but one thing is for sure…IT TAKES MONEY TO MAKE MONEY.

I always suggest working your personal business after hours and on weekends, with the goal of building it to a point where it can at least take care of your basic household necessities. Leaving a solid 9 to 5 job completely, (with no income coming in on a consistent basis), is not wise.

In most cases, a new Entrepreneur has to utilize their personal resources to initially fund the business, unless they receive early business credit, grants or family financial support. And there are other costs to consider, like Health Insurance. Most who are self-employed, do not have proper health insurance if the need arises, but a typical “9-5” job usually provides some type of basic health care insurance for you and your immediate family. In addition, many who are self-employed do not have the finances in place for a “rough” dry business season; or if time away from the business is needed for personal and/or medical reasons. Yet in many cases, a 9-5 job will provide paid time off for tenured employees.

As an entrepreneur, you will often find yourself in new and unknown situations, more often than you would like. Things won’t always go as expected. But trust me when I tell you that the small setbacks and failures you may experience will make your motivation, your passion—the reason you started your own business, more refined.

Becoming a successful full-time Entrepreneur is definitely a lengthy process, but with much prayer and the right financial planning in place, it is definitely possible to them that believe!