Leaving your job to start a business
In this video about the reasons and the ways to quit your job to start a business, Lova Ruth Cohen-Sizyandji shares her views on:
- why start something?
- how to leave it?
- when not to do it?
Lova Ruth launched her rental and sales of artwork business in 2018. Find her on ruth-gallery.lu.
Subtitles are available in english and french.
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Transcription de l'intervention de Lova Ruth Cohen-Sizyandji
Why leaving your job?
Why start something? The time to start is when you’re thinking about your future, when you’re saying, “in 6 years, in 10 years, when I retire, I want to keep going and this is what I want to become”. Those are good reasons to start something. When you’re thinking “I can do it, I have my family’s support, my friends’ support, and the financing I need…” “I can try, and I will try.” And when you have the desire, when you love what you want to do, I would say that’s when you need to go for it.
How to leave it?
Sometimes it’s luck. You get lucky that just then your work is done. The company lets you go… for economic reasons, or whatever other reason. And that’s an opportunity when you already have a project, when you already have a good idea what it is you want to do. It can be a good opportunity. Or in my own case, for example, I was still in the trial period, and I was disappointed because I had had several experiences that didn’t suit me at all. In my last job, I’d been hired to create something but when I got there it was a huge disappointment. But I was still on trial period. So after 3 months I started thinking “It’s now or never.” “Either you stop, or you stay and are depressed for life.” The end of a trial period is the perfect time. When you’re with a… a company that’s understanding, they’ll understand that it’s best to talk things through. And that way, you could say that termination of the work contract doesn’t come from the employee but more from the employer when they’re understanding. And he’ll terminate it because it doesn’t cost him anything at all and you can still benefit from unemployment. When you have good backing, you can quit too. But that’s really… It’s too risky. You really need to be ready.
When not to do it?
You don’t want to be told what to do, you don’t want a boss. Starting a business because I want to drive a fancy car, and I want a company car… and since I can’t get that from my current job, I’m gonna start a company and get that fancy car. Those are not the right reasons.