Who’s coming with me? -Jerry Maguire is an iconic movie that captures the spirit of the dreamer. Tired of how his company did business, Jerry Maguire walked out on his job after delivering one of the most prolific (and awkward) quitting speeches ever. At the end of which, one lone voice says, “I will go with you.” 

One of the scariest things about making the jump to pursue a dream is the loss of steady employment. We come to rely on that steady paycheck. We have bills to pay, college tuition to save, and vacations to take. These are a few reasons why we continue to gain wait instead of taking a step outside of our comfort zone. Still, you may be more ready to make the jump than you think. Though ultimately, Jerry Maguire wins the day, it is, after all, a movie. For the rest of us, here are five things to consider when thinking about quitting your paycheck and pursuing your passion and purpose.

#1 – Your Side Hustle Gives You Life

When you open your eyes in the morning, which thought sparks more joy, your day job, or your side hustle? Are you excited to get through your day so you can implement an idea for your side hustle that evening? When you work on your hobbies or other projects, do you lose track of time?

If you said yes to any or all of these questions, your side hustle gives you life. Your business should be something you love or, at least, keeps you interested. You’ll never make it through those evening or weekend working sessions if it bores you or you’re only in it to make money. There must be a why. 

If you can visualize yourself earning a living, building wealth, and creating joy in your life using your hobbies or side hustle, that’s an excellent sign you may be ready to leave the 9 to 5 behind.

#2 – Your Paid Education Isn’t Teaching You Anything Anymore

When I was in business school, an alum discussed how he went from corporate America to owning multiple McDonald’s franchises. What he said stayed with me almost two decades later. He used his corporate job as paid training. 

He always knew he wanted to be an entrepreneur. Business school was a way to get more exposure to the business world, and working a 9 to 5 was a way for him to learn how to operate a business while being paid to do it. I began to look at working that way as well. My companies invested in professional development programs and rotated me through various functions to lead large scale initiatives. Everything I learned is now an invaluable tool in my box. 

However, the day came when I wasn’t learning as much as I was teaching. My employers were getting more from me than I was from them. And we know from research that more people than ever are feeling disengaged at work for various reasons, including lack of development. If you feel stagnant in your role, there are two choices. One, you can ride it out and look for other opportunities. Or two, you can use the paycheck to fund your dreams.

#3 – You Have Planned Financially For Your Future

While I NEVER suggest quitting your job without a job or a plan, I did it because my environment was shockingly toxic. I did have a plan though. Initially, I intended to freelance while looking for the right opportunity that would spark joy and continue helping me build toward my future. At some point, I did envision making the jump to be on my own, just not that way and not so soon. 

• Save at least six months of pay. 
• Consult an accountant or financial planner on tax strategies. 
• Pay for startup costs, such as a website, logo, or equipment, while you’re still employed. 
• Show yourself the money! Have a stable stream of income from the side hustle, i.e., two or three paying clients. 
• Create a budget and a system for tracking income, expenses, receipts, and inventory. A simple Excel spreadsheet or Google Sheet will do. So many people make the mistake of skipping this step.
• Forecast what your income will look like for the year, month by month.

If you don’t know how to manage your company finances, learn it before you quit your job. You don’t want to take time away from building your business to learn basics. That’s part of the paid training you get from your 9 to 5. Here’s a hint, there’s a finance person at your current company, spend time with them. You’ll be surprised how many people are willing to give you free guidance or mentorship. 

#4 – You Have Thought Through Your Business Operations

What is it I do? I help aspiring entrepreneurs and professionals turn their passion and purpose into profit. I see it regularly. Professionals jump into entrepreneurship without a plan for running their company. You still need a business plan! However, it doesn’t look like it did ten years ago, heck, not even five years ago. 

Do you have the following basics decided or at least at an initial stage of creation:

• Your why. Entrepreneurs and side hustlers who know why they are building their particular business tend to be more successful. 
• Crafting your company’s mission and vision will attract your ideal customers rather than you chasing them.
• The back-office systems you will use to manage communications, digital marketing, invoicing, receiving payments, project management, and so on. The devil is in the detail. 
• Have you determined your value proposition and business model? 
• What are your strategic initiatives and goals? 

If you have thought through all of these, you are on the path to launching your dream as a full-time entrepreneur. 

#5 There Are People Riding For You

Not everyone will understand your journey, and that’s okay. What you need is the support of friends, family, and, importantly, mentors, and advisors. Because entrepreneurship is essential to the American economy and the internet of things (IoT) has collapsed the time for people to launch a business, there are centers in almost every major city focused on equipping aspiring entrepreneurs with the tools they need to start. 

Take advantage of resources concentrated on supporting people to take their business from ideation to launch, and eventually, to grow. In Nashville, for example, I’m an expert advisor at the Entrepreneur Center. It’s a great community that stays connected through multiple events and even Slack. 

Find people who are where you want to be or who are on a similar journey to yours. Going it alone can be remarkably tricky. I never wanted to be a solopreneur. When I made the jump, I always envisioned it being with a partner because I enjoy the collaboration of ideas. 

And when you have a network of people that you can call on for support, questions, or to vent, you’re in an excellent place to make the jump. Hint, there will be people who you thought would cheer for you but won’t. There’s nothing to do. Let anyone not riding for you fall away. It probably has more to do with them than it does with you. 

Let me know your thoughts in the comments below and share with your community. My promise is to create content that is inspirational, informational, and implementable. If you’re craving more excellent material on how to gain clarity, set goals, and get things done, subscribe below and follow me at @iamnileharris on Twitter, Instagram, Facebook, and LinkedIn.