www.meiphing.com

Ep126: Quitting your 9-5 job. Should you do it?

career break career planning

 

In this episode, Mei Phing discusses the dilemma faced by 9-5 working professionals on whether to quit their jobs and pursue entrepreneurship. Challenges and skills required for running a successful side hustle and advises individuals to assess their readiness before making a decision. 

 

Highlights

0:30 ⏰: The common questions nine-to-five professionals have about quitting their job and becoming an entrepreneur.

2:45 ⏰: Importance of learning in a corporate structure and the support system it provides.

5:10 ⏰: The allure of side hustles and online businesses but the need for a backup plan and the required skills.

9:20 ⏰: The reality of being a solopreneur and the multitude of responsibilities it entails.

13:00 ⏰: The importance of mindset, skill set, and effort in achieving success as an entrepreneur.

16:30 ⏰: The challenges and struggles faced by entrepreneurs, contrary to the glamorous image portrayed on social media.

19:45 ⏰: Advice for individuals considering quitting their job and starting a business, emphasizing the need for execution, consistency, and adding value.

 

Key Insights

πŸ’‘ It takes a lot of skill and effort to make a side hustle or small business successful. Many entrepreneurs don’t discuss the challenges they face, and the statistics show that a significant percentage of businesses fail in the first five years.

πŸ’‘ Being an entrepreneur requires taking on multiple roles and responsibilities. It is essential to be prepared for the chief everything officer role and the chaos of running a startup or managing a side hustle.

πŸ’‘ Personal experiences and circumstances can shape one’s career path. Taking a career break or being exposed to unexpected opportunities can lead to unexpected paths, such as becoming a career coach or solopreneur.

πŸ’‘ Jumping into entrepreneurship just because it seems like a good idea is not enough. Execution and consistency are crucial, and success requires continuous results and value addition.

πŸ’‘ Individuals contemplating quitting their nine-to-five jobs and starting a business should assess their readiness, including their skills, mindset, and ability to handle multiple responsibilities. It is important to have a backup plan and a clear understanding of the challenges involved.

 

ABOUT

πŸ‘‹ Welcome to the Corporate Survivor with Mei Phing — ex-Global Head of Department turned Career Coach & Founder of The Corporate Survivor™. On this podcast, Mei Phing shares her corporate world insights and experiences so you can survive, navigate and grow your career with clarity, confidence, competence and opportunities.

πŸ‘‰ Click here to checkout the Corporate Survivor Podcast library and archive.

 

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Always cheering you on! πŸŽ‰πŸŽ‰πŸŽ‰

— Mei Phing

 

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