Nine things to do before quitting your job,to run your business:
1. Ensure that your business generates enough money to pay all your recurrent expenses. Before making the great leap,determine how much money you need to cover all living expenses for each month. Then look at the income already generated from your business ,and see if enough money comes in to take care of your basic needs.
2. Consider finding another job that will equip you with the tools needed to bring more value to your own business.
3.Talk to your spouse to let them know your concerns and your desire to leave your job. This will give them notice,lest they are taken by surprise when you are home all the time. It is also a good time for your spouse to admit if they are similarly thinking about leaving their job.
4.Try to prepay some of your expenses,such as internet,electricity before you quit. This will give you a little comfort knowing that bills are paid.
5. Try to buy wholesale food items and store them. When the hard times come ,you will not go hungry.
6. Clear off major debt ,please be reminded that you can lose your house or car if you fail to make your monthly installments.
7. Be prepared for uncertainties, business is in and of itself uncertain. Some months will be feast,and some months will be famine.
8. Before quitting your job,view your employer as your investor ,your financier,who is paying you a salary which you will then use to finance your dreams.
9. Follow the proper procedure in resigning,so that you leave on good terms. If the services or products that you offer are in line with those of your former employer,you may conduct business with them.
The author is a Trinidadian attorney at law. She specialises in Anti Money Laundering and Countering the Financing of Terrorism. Please see the website http://asydneygroup.com ,whats app 868 373-1166
#soletrader #businessregistration #trinidad
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. SHE IS A LECTURER AT THE ARTHUR LOK JACK GLOBAL SCHOOL OF BUSINESS IN TRINIDAD. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.
ANTOINETTE SYDNEY LAW OFFICE: MONTROSE MAIN ROAD CHAGUANAS, TRINIDAD AND TOBAGO
Call/Whatsapp to book an appointment 868 373-1166. Consultation fee is $300 TTD per hour.
I am a Certified Professional in the following areas:
Anti-Money Laundering and Financial Crimes;
Fraud Risk Management;
Anti-Money Laundering (AML) Training for staff, directors;
Anti-Money Laundering Audits;
Compliance Program drafting;
Consulting services and much more.
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- How to Change the Business Name of a Sole Trader
- How to De-Register a Sole Trader Business
- How to Register a Partnership
- How to Change from a Sole Trader Business to a Limited Liability Company
- How to Register a Limited Liability Company
- How to Change the name of a Limited Liability Company
- How to Dissolve a Limited Liability Company
- How to Register an External Company
- How to prepare Annual Returns for an External Company