Should You Quit Your Day Job?
Should you quit your day job?
If you're planning to start your e-design business as a side gig (or maybe this is what you're doing right now!), that's probably one of your BIGGEST questions. It's something you've probably debated in your head over and over again. Or, maybe it's not a question of IF, but WHEN you're going to dive headfirst into running your own business full time.
So, how do you know when it's the right time to make the leap?
There's no right or wrong answer - everybody approaches this differently because our lives, goals, and circumstances are all different! But, as someone who has been in that very position myself, I thought I'd share a little bit of my story and the factors that I considered as I was making the decision to go full time with Mix & Match Design Company back in 2016. I've always found that hearing others' stories can offer a helpful perspective as you're contemplating big decisions like this one.
I started my e-design business in 2015 while I was working full time as a genetic counselor (yes, my former life was in healthcare!). Online interior design services were just beginning to pop up, and I was intrigued. I'd been writing a design blog for a number of years and was starting to help friends and family design their homes as well. I really enjoyed it, and wanted to figure out a way to offer interior design services to a broader audience. The idea of working with folks virtually was really appealing since it gave me flexibility to fit design projects in during my off hours and not be tied to one specific location if we moved. My husband was in business school at the time, so leaving my job cold turkey to launch an e-design company wasn't an option (we were very much dependent on my income to support us!), but I wanted to test out this concept and see if it had legs. Starting it as a side business was the perfect way to do it.
I spent the next nine months while he was in school refining my business model and e-design project process, doing lots of research, and getting everything set up on the backend. It was a lot of work, but it was also nice to not have the pressure to make ends meet since I still had my healthcare job. Thankfully, by the end of that nine-month period, I had enough visibility to know that Mix & Match could be a viable business and had a plan in place for how it could grow, even if it was still in its infancy.
After lots of discussion and many deep breaths, my husband and I decided that when he finished business school and started his new job that I would quit mine to go full steam ahead with Mix & Match. I was feeling burned out with my work in healthcare and was ready for a change, so the timing was perfect. Knowing he had a steady paycheck was a big key to us being comfortable with me taking a chance to start a new business. So off I went! Mix & Match Design Company became my sole focus in July of 2016 and I haven't looked back.
Was it an instant overnight success? Did I have clients banging down my doors day and night?
Nope. I'll be honest - the first year was hard. It took time to build a steady stream of clients and I often felt like an imposter when I talked to people about my "company" and how things were going. It would have been easy to give up at any point that first year, but I knew that growing a business would take time and patience was key. The work did pay off though - I'm proud of where Mix & Match is today and I don't regret taking the leap in 2016!
So now let's turn the conversation over to you. What should you consider if you're thinking leaving your day job and going full time with an e-design business?
Here are three key questions to ask yourself:
What's your end goal with your business? Mapping that out and knowing where you're headed is key. You'll also want to create a detailed business plan to help keep you on track and meet milestones to reach that end goal.
Can you play the long game? Building a business takes time and slow starts are the norm. Are you set up financially to weather the early days?
Are you ready to be a business owner and not just a designer? Being a business owner requires more than just being able to create beautiful spaces and work with clients. Be prepared to wear lots of hats! Administrative tasks, marketing, and legal aspects are also a part of running a business and knowing that you'll need to dedicate time and energy to taking care of those in addition to the "fun stuff" is critical.
So, what do you think? Where are you in your decision-making process and what are your big considerations? Let's get the conversation going!
