How to figure out if it’s time to quit your day job….
So you have been working a full time job, and running the lawn route on weekends, evenings, generally whenever you can.
Now you have a few accounts built up, but you can’t add any more unless you take the plunge and go full time with the lawn care business.
There is a delicate balance making that transition from being an employee to self employed, and most of it usually revolves around finance and time.
- Make sure you have money set back to cover your bills through several months while you make the transition.
- Know your business and personal expenses, total revenue, and actual net profit.If you can’t answer these, you are not ready.
- Figure out how much your personal bills are each month. Figure out your monthly business expenses such as gas, insurance, etc. Don’t forget self employment tax!
- Now look at how many lawns you will need to cover business and personal expenses……. and how much cash surplus you have.
- If you don’t have enough lawn revenue to cover business and personal expenses, you had better have enough surplus cash to cover the shortfall, or you are setting yourself up for failure!