“A significant shift — coined “The Great Resignation” — is accelerating in the employment sector of the U.S. In fact… More than 50% of U.S. workers plan to look for a new job in the coming year.“Bankrate Job Seeker Survey, July 28-30, 2021
With the changes brought on by the global pandemic, which forced millions of people to figure out how to work remotely, eyes have been opened to what early Internet pioneers have known for two decades.
Full-Time Remote Work Is Entirely Possible
And with remote working comes a better work-life balance.
For the past two years, families have been juggling working from home, virtual schooling for children, and taking precautions against the virus. As a result, employees are evaluating how and where they’re spending their time.
Before the pandemic outbreak, job satisfaction was already at an all-time low. Stress and burnout were on the rise. Sure, jobs are central to our lives, but now, many people are unwilling to give up their new found autonomy.
They’re tired of the pressure to be always-on at work. They want a working environment that aligns with personal priorities, interests, and goals. Not to mention protecting their health.
The employed are always looking for job security, better pay, and benefits. But with the lasting effects of the global health crisis, they’re also seeking better work-life balance.
Enter The Great Resignation.
Can You Afford to Join “The Great Resignation?”
Millions of people have said that they want to work remotely and are eager to leave their regular employment to do so.
Is fear stopping you from resigning? Fear that:
- the money will run out too quickly
- you’ll never find another job if you quit
- you’ll spend too much time working because of the uncontrolled environment of remote work.
Fear could be keeping you from making better choices for your happiness and health. Let’s break down these fears — are they realistic?
- Money running out too quickly is a genuine possibility if you’re not budgeting your income properly. We’ll get into how to make sure this doesn’t happen later in the article.
- Never finding another job is real but manageable if you’re open to what’s available. The reality is that the traditional job market has taken a hit in this economy and remote work is on the rise.
- Overworking is not an issue if you learn to manage your schedule better and include time to relax and recharge your batteries.
Think About the Benefits of Quitting Your Job
Put fear to one side and think about the benefits of resigning from your current position:
- Enjoy more family time — great for your well-being.
- Have the freedom to work when you want and where you want — no more daily commutes!
- No need to dress up every day — yay for no more decisions about what to wear to work!
- Avoid office politics and drama — what a relief, who needs it?
- Be present for important moments in family life — no need to miss out because you’re stuck at work.
Of course, working from home has challenges, including:
- Losing the social benefits of going into an office each day.
- Fewer coworkers to commiserate with when things get rough.
- The need to be more organized and disciplined than you’ve ever been before.
Stretching the Finances to Allow You to Quit
So, now that we’ve looked at both sides of being remote-compatible and figured out the pros and cons of a work-from-home job, let’s talk about making sure you don’t run out of money too quickly.
Don’t just quit your current job — plan your resignation long before you hand in your notice.
Invest a portion of your monthly wages into your future. Get a complete picture of where you’re spending what’s left, then be strict about cutting down your expenses until you’ve replaced your current income.
Consider using this time between quitting and starting again as an opportunity to set up a part-time business from home that you’ll enjoy. You can then convert it to your new full-time income when you’re ready.
What Steps Should You Take Before Considering Resigning?
To begin your transition, make a list of your resources and think about how you can use them to work from home. Common options include your:
- Existing skills — can they be used to your benefit?
- Equipment — can you make use of them in alternative ways?
- Property — do you have space you could set up as an office or workshop?
Don’t be disillusioned if your list is short. Even if you don’t have much to work with, that doesn’t mean you can’t start, and it doesn’t mean that there aren’t other options.
When your resources are limited, focus on what’s most important:
- Pursuing additional training in relevant skills — creative or technical. It’s often more cost-efficient to do this by using online resources and learning collaboratively with others.
- Doing the research — learn about how you can use your passions to turn a profit. You’ll find that there are many opportunities in today’s market, especially in digital media (even if you don’t have much experience on the computer).
Have You Considered Entering the World of Entrepreneurship?
If you’re nervous about joining The Great Resignation and leaving your job, begin by thinking about all of the options that are open to you.
Now is a good time for entrepreneurs — even those who believe they are too introverted to succeed as entrepreneurs.
Working for yourself allows you to concentrate on something meaningful to you. It does take time, effort, and patience to succeed as an entrepreneur, but don’t be afraid to pursue your dreams.
The key to starting your own business is figuring out how to convert your existing knowledge and expertise into a viable product or service that people will want to buy.
Don’t assume that you need to start from scratch. Maybe there’s something about your current job that you could turn into an online business and earn income from. The possibilities nowadays are virtually endless.
- Do you have a particular skill or ability that has been dormant for years and could be turned into a profitable business idea?
- Do your hobbies have any value besides being enjoyable? Can you use them as the foundation for a business?
Entrepreneurship That Starts as a Side Hustle
It’s easy to leap into entrepreneurship, but it’s wiser to think small and have fun while you’re learning the ropes. Side gigs are great ways to learn new skills and test the waters of entrepreneurship without taking too big a risk. Nowadays many people feel that a side hustle is job security.
The magic of the digital world is that it’s possible to launch a business with just a computer, Internet access and the power of your intellect. With effort and commitment, you can turn an idea into a full-time income.
Starting an online business isn’t as far-fetched as it might seem at first. It’s one of the fastest-growing trends today, thanks to technology.
We at Solo Build It! want to help you get started on this path. Our philosophy is simple: anyone can do it if they have the right tools and information. We can provide you with both so that you can make your dream of entrepreneurship a reality.
The Solo Build It! platform will assist you in the research phase, ensuring that you’re pursuing a profitable and engaging niche idea.
Once you find the perfect niche, you’ll follow the step-by-step business-building Action Guide, using Solo Build It!’s complete range of tools for designing, building, and tracking the success of your site.
Add in a community of like-minded people creating online businesses along with you, and you have an antidote to the fear of leaving your job.
If you’re considering The Great Resignation, it’s important to take time to review your options.
You may be happy with a part-time income from home while keeping your day job. This can let you save up for when you’re ready to make the leap into working from home full-time.
You can also explore how entrepreneurship might work out for you by starting small (a side hustle) before taking on more risk.
Many opportunities exist today thanks to the Internet — so don’t give up hope! The key is figuring out what will work best given your current situation and the resources available to you right now.
If you ever feel stuck, or need a little help getting started, Solo Build It! is here for you. We’ve been helping people turn their passions into successful businesses for over 20 years, and we’re always here to offer advice, support, and encouragement.