Sriram Krishnan, one of Snap’s top ad executives, recently left the social company, before its IPO. It’s a really big move, considering the popularity of the app. Krishnan is a prime example of something we’ve seen time and again. His exit might come as a surprise to many. But, he obviously knew his plans. So what makes this such a teachable moment? It clearly demonstrates a spirit of independence. Perhaps he’ll start a company of his own. Maybe he’ll take a hiatus from business. Whatever Krishnan does next, it’s his decision. And, that’s what being an entrepreneur is all about.
How to Know when it’s Time to Leave a Company
If you’ve been feeling the entrepreneurial itch, chances are excellent you’re no longer content with work. It could be you just aren’t feeling appreciated. Maybe you’re no longer moving up or having to manage your supposed boss. Or, you’re ready to strike out on your own. Whatever the reason, it is possible to start over or start something new. And, that too could be a reason you want to leave — you’ve already started a side business.
When you started your current job, you were in love with it. You were thrilled about the opportunity, loved the work, and got along well with your boss and teammates. But at some point, something changed. There may not be anything seriously wrong in your day-to-day work life, or any big incident that made you angry. And yet, you still have a nagging feeling that something is off. The question now becomes: Do you take the risk and try to find something new, or stick it out at a “comfortable” (but unexciting) job because it’s what you’re used to? —Business News Daily
In your heart, you just know it’s time to follow the Brexit vote and take your side business full-time. What’s really holding you back is more than uncertainty. It’s probably a mental block. You feel the yearn but just can’t get past the fact you’re receiving steady pay. The security is what’s telling you it’s not okay to make the leap. But, it’s a false illusion. At the end of the day, everyone is an entrepreneur. You might worry about getting more customers on your own but just a few is more than you’re serving at your current job. You only have one customer — the company you work for and that’s it. Since you’ve taken the initiative and started a side business, here are some signs it’s time to leave and grow your business:
- You’ve begun running numbers. Since you’ve already earned money from your side gig, you’ve run the numbers about what it’ll take to meet or surpass your full-time job income. That’s a sure sign you’re ready to make a change. So, create a business plan to see a path forward. When it’s in black and white, you’ll feel a lot more confident.
- You’re earning good money. Your side business sprang from a love for something. Now, your passion is delivering. You’re earning a good income but need more dedicated time to really grow it bigger. That’s another huge indication it’s time to leave your job. After all, you’re already seeing results.
- You’re asked or need to do more. Your side business started with an idea and a little creative scheduling. You added some more necessary ingredients and turned it into a viable enterprise. Now, you have customers asking you to do more or you need to deliver more to meet your goals. That’s an unmistakable sign you’re ready to move forward.
- You’re receiving praise. Praise and support are coming from different people. You’re asked why you don’t do this full-time more than once. The fact others see real value is a gigantic indicator you’ve earned a whole lot of trust. It’s also another reason it’s time to make the commitment to your business.
What signs do you look for to tell you it’s time to leave a company? How have you coped with the change? What did you pursue after you left? Please share your thoughts and experiences!