Quitting Your Job At Own Risk


alt

May 25 2012 l ndbs   By: Derrick Ndzavi 
   

Starting and running business while employed is not an easy thing to do, however that could be a best way to get started as you will still have source of funding for your business.  This kind of arrangement can be made if the kind of business you are starting can not meet your monthly financial obligations.  Before taking that risk of quitting the job to focus on business full time the following should be taken in to consideration:

1.  Salary for personal monthly expenses

For you to see the profit you make from the business you need to separate business expenditure from your personal expenses.  You can not take money from business to go buy stock and include your personal household items in that stock because come month-end you will have created a hole that you can not close.  Before you quit your job, check first if it is able to pay you monthly salary for you to take care of personal items from that salary.

2. Getting Assistant

Having assistant does not necessarily mean having a PA that will take appointments and calls for you but having someone that will assist you in running the business and that person should be paid monthly salary.  An Assistant will be there when you are not around or when you need to visit a dentist.  And that is a person who will have run the business before you quit your job to be full time.

3. Savings for Retirement

The biggest mistake most people make is to cash in their provident fund or pension fund to put the money into the business.  You might loose the money that you have put in business since business may not guarantee returns on your investment.  Let the business sustain itself with the initial investment and leave the retirement fund alone.  From your salary you still have to allocate money that will be put towards that retirement fund to grow it.

4. Have a multipurpose Transport system

Before quitting that job you might as well have to exchange the luxury car for a double cab or any car that will assist in making your business run smoothly.  You do not have to always have the car loaded with stock but there are minor stocks or goods that you will need to urgently carry to the client or from supplier and that car will come handy than to hire a car.

5. Pay your major debts

Major debts in life are the ones that defines our status in society, that may include your house, your car, and any valuable asset that you will have accumulated and still need to pay.  You may not have paid off your bond but in quitting your job make it a point that in your calculations of your salary that will be taken care of.  Do not be under pressure to cash your retirement funds in order to pay off the bond or major debts. 

Before quitting the job calculate the cost and be willing to pay the price in the process.   

Establishing You Business Embassies

April 21 2012 l ndbs   By: Derrick Ndzavi 
   

Every country has an embassy outside its own territory, however those embassies are in the countries that are in good working relation with such a country.  And often a country deploys either a former minister or government employee to run the international office.  There could be reason for that as since this person is retired might take up a job for the pride of the country than career ambitions.  Your business also needs Embassies in different spheres of operations and customer bases for you to draw more sales.  And there are no better people to deploy than your clients who have received best service from you.  Get the best out of your clients by getting them to talk about your business without paying them by following the below principles:...Read Full Article

Things To Avoid In Order To Keep Highway To Your Clients Open

January 31 2012 l ndbs   By: Derrick Ndzavi 
   

Running own business takes a lot of discipline and efforts. Every business is like a child that waits on mommy to breastfeed, the moment mommy fails to continuously breastfeed the child that child will be exposed to different kind of diseases. The health of that child is depended upon the mother and more often mommy does not require thermostat to measure the child’s temperature level, by just looking at the child she can tell instantly that the child is sick. How often do we apply forethought in our daily operation of our businesses? Our consistence and inconsistency thereof will determine how far our business will grow and how many clients we will attract to our businesses ...Read Full Article

A Partnership Worth Walking Away From


December 13 2011 l ndbs    By: Derrick Ndzavi 

The word ‘Partnership’ sounds very professional and exciting but to those  who have been given raw deal the word runs directly ...Read Full Article  

Dress for Success Inside Out


November 15 2011 l ndbs   By: Derrick Ndzavi      

I was invited to Australian Embassy by a friend for a business gala dinner, the embassy was to outline business opportunities in Australia and I had to look good that day. I pulled my best suit and the tie that I seldom wear...Read Full Article

 

 

 

 

100 Businesses you can start in SA

41 Hot Home  Business Ideas For Women

8 Home Business Ideas For Men

Freelancing 101: Alternatives to Unemployment

 

 

 

  

alt


alt

 

 

 

  

  

 

 

 

 

 

 

 

Are you looking for the best web hosting? Be a smart buyer and read hosting reviews before choosing a suitable host.

      New DiscoveryBS (Pty) Ltd ©2011-2015  Terms Of Usel NewsBrand Engage l Advisory-Mentorship l Events l NDBS Services l NDBS FAQs l Contact Us l back to top button

                                                                                                                               Content Management and Designs Proudly Done Inhouse By: New DiscoveryBS

 

             

Joomla Themes designed by Joomla Hosting Reviews