Even if you are struggling with the return to work this January, it’s not the time to quit if you plan on plunging into self-employment in 2020, according to a financial expert.
Acknowledging research that has found more than half of Australians leave their jobs within weeks of taking a holiday, Dr Steve Enticott is encouraging Australians to hold on to their main gig – at least for a little while.
The senior partner and founder of a tax-based business and licensed financial adviser has instead put forward the idea that those people who do want to earn extra money and work for themselves in 2020 can be self-employed within six months – as long as they use patience, planning and persistence.
“I know a lot of people don’t like their jobs and would love to throw in the towel, but January is not the time to resign. It’s the time to recalibrate,” Dr Enticott said.
“Even if you can’t stand your boss, hate getting on the train every morning or are going crazy sitting in an open plan office doing work that no longer challenges you or pays well, don’t waste your precious holiday time writing a resignation letter,” he continued.
While we often hear stories of entrepreneurs who quit their jobs and appear to become overnight millionaires, Dr Enticott said “there are also many others who walk away from a stable job before making a single sale who end up struggling financially for a long time because they have rushed in too quickly”.
To ensure people don’t fall into the latter category, the financial expert has provided four tips for getting through what could be job insecurity, stagnant wages, commute times and a lack of flexibility this summer.
1. Stop and reflect – lock yourself away for a few days to relax without distraction. For Dr Enticott, this is ‘soultitude’ solo time.
2. Write it down – while on your own, write down all your thoughts on paper. According to the author, this is a great way to clear your head and be honest about how you are feeling.
3. Reassess your goals – look at what you have written and work out your vision and purpose for the future. Dr Enticott has advised trying to work out what you are good at and how you can use your time and talents to build a new career.
4. Make a plan – create a one-page plan, complete with specific goals and deadlines. This will ensure you remain on track.
According to Dr Enticott, “Following these steps is a great way to ensure you don’t let another year go by aimlessly and really forces you to focus on your purpose skills and vision.”
“If at the end of your ‘soultitude’ you still hate the idea of going back to work for your boss, then I recommend starting a side gig before returning to work,” he offered.
“It’s a great low risk way to earn some extra money without having to give up your day job, and it will allow you to go back to work with a renewed purpose and options for the future.”
“Start transitioning now and, with the right plans in place, you’ll be your own boss before you know it,” he concluded.
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