Faulty assumptions, unrealistic expectations, and myths are reasons people quit their jobs. But they often backfire. Here’s why.
The desire to quit paid employment can sometimes be overwhelming. Indeed, many give up well-paying jobs, life savings, and family cohesion to pursue dreams. Unfortunately, they do so based on unrealistic beliefs, faulty assumptions and myths. This article explains three shocking reasons people quit their jobs and why the decision often backfires.
Let’s explore some reasons people quit their jobs.
1. I have a fantastic business idea.
There are many good reasons people quit their jobs. But there are fundamental problems with people who quit their jobs to start a business.
First, they believe they have incredible business ideas.
Second, they are usually optimistic that their ideas will result in prosperous business outfits.
People who quit their jobs to start a new business are always impatient to implement their ideas. So, they often abandon paid jobs and jump into business unprepared.
But soon after starting their businesses, they become overwhelmed by emerging challenges. The challenges arise because aspiring entrepreneurs make faulty assumptions, often leading them astray.
Why the enthusiasm about having business ideas may backfire?
Having a business idea is good. Every successful business starts with an idea. However, more than having a business idea is required. Great ideas only sometimes result in viable companies of one’s dreams.
Every business idea contains valuable information. The task for entrepreneurs is to extract business information and transform them into creative business opportunities. But there lies the challenge for most people who quit their jobs to start a business.
Here’s why.
Exploiting the information in a business idea requires skill. Aspiring entrepreneurs must know how to test and validate their business assumptions. They also need to understand their businesses to achieve the desired goals. These factors are necessary to turn ideas into businesses of our dreams.
It can be challenging to start a new business, especially for those who have left their jobs. Some may rely on their past experiences and assume the same protocols apply to their new venture. Others may avoid seeking advice for fear of criticism or exposing their businesses. Aspiring entrepreneurs often stumble, get disappointed, disillusioned, or frustrated due to these indiscretions.
It is helpful to be open to new ideas and perspectives. They can broaden your horizons and help you make better decisions.
2. I have a great passion for my business ideas
The second reason people quit their jobs is Passion.
Many who leave paid employment to start a business usually express their passion for business ideas. This should not come as a surprise because the path to starting a business or any significant project post-employment is very thorny. So, it would help if you were passionate about your proposed venture.
Passion fuels the urge to work harder, stay focused and persevere in facing challenges. Yet, passion is also one of the primary reasons employees quit jobs they should keep.
Research by Professor Noam Wasserman, formerly of the Harvard Business School, suggests that passion is necessary to start a business but often ends up ruining it. According to Professor Wasserman, passionate entrepreneurs exhibit “contagious enthusiasm,” which usually leads them astray.
How having an excessive passion for your business ideas may backfire.
Passion impacts entrepreneurs in three ways.
First, it drives them into business unprepared. Second, it prevents them from seeing reality or accepting other people’s opinions or criticisms of their ideas. They believe doing so will attract criticism, douse their enthusiasm and kill their dreams.
Finally, passion predisposes entrepreneurs to make choices without weighing available options.
Passionate entrepreneurs are always eager to put their ideas into practice. As a result, they make avoidable mistakes, exposing their businesses to needless risks.
3. I’m tired of the 9-5 work schedule; I will create a working condition that suits my lifestyle.
The third shocking reason people quit their jobs relates to health and wellbeing. Many quit their jobs due to stress from heavy workloads, long work hours, demanding bosses and uncooperative work colleagues. Some employees also complain of a lack of growth opportunities or new challenges. Additionally, many people see their work environments as toxic or providing poor work-life balance.
No doubt these are legitimate reasons why people quit their jobs.
The workplace harbours a myriad of problems and challenges. Ironically, many employees believe their problems will vanish once they leave paid employment and start their private businesses.
Do you dream of becoming a boss in your private business? Perhaps you like working based on your schedules and taking no instructions from anybody?
Are you among those who believe that the days of working with difficult bosses and uncooperative work colleagues will end once you leave that toxic job and start your business? Would I be right to assume you relish creating a work environment that suits your lifestyle and business goals?
Again, these aspirations are legitimate, but they do not always materialise.
Why does the dream of becoming your boss come at a high cost?
Being successful in entrepreneurship or self-employment is more complex than being a paid employee. As an entrepreneur, you’ll handle managerial and administrative responsibilities you may not have dealt with as an employee. Thus, your desire to avoid all the troubles of a regular workplace may take time.
Many who quit due to stress end up in worse situations in their private businesses or other companies. When they leave their jobs, they have no idea what awaits them elsewhere. Besides, they may struggle to find another job and face financial instability.
Those who give up good jobs for work-life balance truncate a long-time career path. They may need to secure employment with a better work-life balance or end up in a more demanding job that worsens their situation. Additionally, quitting without a solid backup plan can lead to financial strain and stress in the long run.
The dream of becoming your boss comes at a cost: hard work, discipline, dedication and patience. Yes, these ideals also apply to paid employment. However, the existing structures in established businesses make achieving these ideals easier. No wonder those who quit their jobs without properly weighing their options live in regret.
Last word on reasons people quit their jobs.
Myths, faulty assumptions and unrealistic expectations are reasons people quit their jobs. But they often backfire.
It pays to have big ideas about the next big break in business. It also pays to hold out a strong passion for your dreams. Indeed, it is tempting to imagine being a boss and running your business according to your standards.
The desire to enjoy a beautiful work-to-life balance may also be part of the reasons employees quit their jobs. Whatever it may be, do not let myths and unrealistic assumptions drive you to quit your job.
You may also like:
- What’s your Exit Strategy from Paid Employment?
- The Future of Work and Employment Post-Covid-19
- How corporate environment shapes your post-employment behaviour
- How to develop the right attitude to survive layoffs.
Please check out my new book:
From Paid Employment to Start-up: How to Navigate the Transition.
The book explains how to set up a sustainable entrepreneurial career of your desire post-employment.
Below are the links to obtain the eBook:
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