HOW TO KNOW IF YOU'RE READY TO LEAVE YOUR DAY JOB AND LAUNCH YOUR BIG IDEA

Maybe you're in a day job and dreaming of launching your big idea out into the world.

Or maybe you're already in business for yourself and are considering taking a big risk or making a major shift. 

So just how true is it that you should just leap and the net will appear? Do you take the risk and trust that things will just work out? Does the pressure of having to make something happen really put wheels more into motion?

The simple answer is: it depends. Sorry, there's no one answer for this one! Truth is, you need to evaluate where things are for you and what you feel comfortable with. Let's break it down so you can get a grasp on whether it's a good idea for you to leap, or if you need to hold on to that dream for just a little bit longer.

So what should you ask yourself before taking the proverbial leap?

"Do I have a plan?"
You should have a plan of action laid out. This doesn't mean you have to have every single task on a to-do list, but you should have a big-picture plan and a short term plan to get things moving. If you don't have a plan of action, then you just won't know where to begin once you have all that flexible time on your hands. Not sure how to lay this out? Grab the Big Picture Planner from the Freebie Library!

"Do I have savings?"
Unfortunately, you need to think about your finances. Generally, lots of folks will say to have 6 months' worth of living expenses saved up as a buffer. Others say to have one year saved up. I personally had 3-4 months saved up and took the leap, but I took that calculated risk with eyes wide open. Take a look at your bank accounts, calculate how much you need to have saved up to feel comfortable taking a risk that may cut off income for a bit, and then think about how long it'll take you to get to that number. For example, if you can set aside $500 a month from your current paycheck, and you want to have another $2,000 saved up before quitting, then you'll be ready to quite the day job in 4 months. Those four months can be the perfect time to get yourself out there and begin making connections that can lead to clients.

"Do I have lifelines?"
When I say lifelines, I mean people or services that can step in and provide help. This could be your mom letting you move in with her, your ex-boss leaving the position open to you for 6 months should you want to return, your bank having approved you for a personal loan, or a friend that can let you crash on their couch if rent gets too tough. Consider where you would turn to if the bank accounts were running too low and you had to ask for help. Having some lifelines set up can provide a bit of a safety net should things not go as planned, and so they make it a little easier to take a risk.

"What's the best thing I can do now to better prepare myself for this big move?"
If you're working at a job until you've saved up money to quit, consider lifestyle changes you can do now to get more cash into savings out of each paycheck. If you're launching into a new business altogether and need a few months to take the full-time leap, start marketing your services now and lining up a client or two to get things in motion. If your new venture will need to involve social media marketing, get started with those accounts and begin to create an audience on social. If your launch requires an email list to send information out, consider running ads and contacting your current network to get interested folks signed up on that email list pre-launch.

So grab a cocktail, mute the phone, and take one evening to evaluate. Dream big, look at all your numbers, get informed about where things truly stand for you, and plan that great giant leap!