Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish is one of the foodstuffs currently being exported from Nigeria to countries in Europe, America and Asian More »

How to export Ginger from Nigeria and Make Huge Profit

How to export Ginger from Nigeria and Make Huge Profit

The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. More »

Make Millions of Naira through Cashew Export from Nigeria.

Make Millions of Naira through Cashew Export from Nigeria.

The export of cashew nuts and other agricultural commodities from Nigeria is fast becoming very lucrative these days; More »

How To Export Smoked CatFish From Nigeria Without Stress

How To Export Smoked CatFish From Nigeria Without Stress

Smoked Catfish is one of the foodstuffs currently being exported from Nigeria to countries in Europe, America and Asian because Nigerians and other Africans there need it to cook their food. More »

How To Start Cocoa Export Business In Nigeria and Make Profit

How To Start Cocoa Export Business In Nigeria and Make Profit

You Too can start exporting Cocoa from Nigeria to buyers in the US, Europe and make up to 20% -30% as profit. More »

How To Export Moringa Seeds and Leaves From Nigeria (Step By Step)

How To Export Moringa Seeds and Leaves From Nigeria (Step By Step)

Pharmaceutical, cosmetics industries and Individuals in China, the US, Germany, Canada, South Korea and European countries are looking for exporters who can supply Moringa seeds and Moringa leaves and get paid handsomely. More »

How To Start Pure water business In Nigeria

How To Start Pure water business In Nigeria

Sachet and bottled water production is one profitable business opportunity in Nigeria that has high return on investment if well managed. More »

How To Start Small Scale Poultry Farm in Nigeria (Feasibility studies)

How To Start Small Scale Poultry Farm in Nigeria (Feasibility studies)

The high demand for chicken meat and eggs has really proven that Poultry farming in Nigeria is indeed a very lucrative business More »

Livestock Feeds Production Business Feasibility Studies

Livestock Feeds Production Business Feasibility Studies

Livestock feeds production is a very profitable business, the demand for animal feeds in ... You can start a small scale livestock feed production in Nigeria More »

Start A Profitable Groundnut Oil Production Business in Nigeria

Start A Profitable Groundnut Oil Production Business in Nigeria

The high demand for groundnut oil nationwide and the short fall in supply due to the ban on the importation of the product by the federal government of Nigeria has thus make Groundnut oil production business very lucrative. More »

Bitter Kola Export Business in Nigeria, Invest N80, 000 & make 100 percent Profits

Bitter Kola Export Business in Nigeria, Invest N80, 000 & make 100 percent Profits

Do you know you can make 100percent profits when you invest just N80, 000 in exporting Bitter kola from Nigeria to Europe, America and Asia countries? More »

 

4 Vital steps to take before quitting your job to start a business

Vital Steps To Take Before Quitting Your Job To Start a Business

A good number of us get bitten by the entrepreneurial bug when working as employees on a 9-5 job, and we get that zeal to start a business venture of our own. While this can be a great and extremely rewarding decision, it can also be tasking one, it is therefore important to keep some vital things in mind before quitting your job to start a business. Jumia Travel, the leading online travel agency, shares 4 vital steps to take before quitting your job to start a business.                     

Prepare for the Realities of Entrepreneurship

Becoming an entrepreneur has its good and glamorous sides, like becoming your own boss, making your own rules, building things up from the ground etc., but it also has its difficult sides. For one, most entrepreneurial ventures fail and the entrepreneurs end up having to go back to work as employees. Also, most of the successful entrepreneurs of today have had to deal with a lot of setbacks sometimes becoming broke in the process, coming to the brink of failure, or even eventually failing and having to pick up the pieces and get back up multiple times. Entrepreneurship is definitely not for the fainthearted and as rewarding as it can be, it can also be hard and extremely tasking.

Have a Solid Personal Financial Plan

Quitting your job to start a business means that you have to come to terms with the fact that your line of sustainable income is gone, and you will thus have to prepare for the hit your personal finance is going to take through the period of you trying to build up your business into one that you can draw reasonable revenue or income from. You first should consider how much money you need to continue your current lifestyle and compare it with how much money you actually have (savings included). If what you have can’t sustain your lifestyle, then it’s best you make more prudent adjustments to your current lifestyle. Also, you should have backup options to explore if you do run out of money in the meantime.

Don’t Burn Bridges

A good number of people quit their 9-5 jobs to start a business on very bad terms with their employers. They damn their employers and tell them off, exiting the job in an anything but smooth process. This should not be so. You should never burn your bridges in the professional world, especially with former employers, because you might need them in the future as clients, as partners to your business in a mutually beneficial relationship, or to even come back to work for them if your business idea doesn’t pan out as well as expected. Whatever the reason, you should never end things with your employer on bitter terms, and when you decide to leave, try as much as possible to make your exit from the company as smooth as possible to preserve important relationships.

Get Advice

As viable and brilliant you think your business idea or business plan is, you should talk to others and get advice before you quit your job to start a business, don’t just rush into it. Talk to trusted friends and mentors about what they think of your business idea and how promising they believe it is. Reach out to people that have experience in building entrepreneurial ventures and those that have quit their jobs for it, ask them for practical advice and guidance on how to go about yours. Most importantly, talk to your spouse, children or close family members (especially those that you are financially responsible for), and explain to them the financial implications of what you are about to do, so they can prepare for it the best way they can.

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