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  1. When To Quit Your Job
    July 26, 2023 @ 10:03 am

    […] What you quit and when you quit can make all the difference in the journey to reinvention, especially if what you’re trying to decide is when to quit your job. For Sara Blakely, founder of Spanx, the tipping point to quit her day job came two years after she started her company.In 2012, Sara Blakely became the youngest self-made female billionaire when she sold her company, Spanx, for $1.2 billion fourteen years after she launched it. Spanx is an underwear maker, founded in Atlanta, Georgia, that designs and produces shaping briefs and leggings.Blakely began to work on her idea in 1998 at the age of twenty-seven. She built Spanx on nights and weekends while still at her day job. Two years later, in 2000, she resigned from her job and pursued Spanx full time. In the two years between conceiving the idea and quitting her job, she sold fax machines to businesses, which helped her stay funded while she developed her business idea.In Adam Grant’s 2016 book, Originals: How Non-Conformists Move the World, he cites a study of five thousand entrepreneurs who reinvented themselves from employees to business owners. The study revealed those who started their new business while in their day job failed 33 percent less than those who quit their jobs to build their business. Most businesses don’t survive a year, the opportunity to reduce the risk of failure by one-third must be taken seriously before deciding when to quit your job.For Blakely, the day job kept her funded and provided her with an environment where she could develop important business skills she would need later for Spanx. By the time she made the decision to quit, she was ready to take those valuable skills and apply them to her own business. In those two years, Blakely also took the opportunity to validate her idea and prove customers were ready to buy her product before she pursued her idea full time.If you considered quitting your job to pursue a new venture, it’s important to make as much progress on your idea as possible ahead of resigning so you can give yourself the greatest chance of success. One way to get started quickly is by launching a project in your new area of interest.  In fact, it can be designed and launched within days in just a few simple steps. […]