Can’t quit your job to start your business right now? Consider a bridge job.

I want to quit my job, but I can’t- what are my options?

You may be ready to quit your job but can’t. It may be financial, you’re unsure of what the next is (but you are sure it’s not your current role), or you don’t have the skills to move into your calling. 

You don't have to be if this sounds like you and you feel stuck.  Consider getting what’s called a bridge job.  You plan to hold this position for a pre-determined period to gather the resources needed to quit your job and start a business. The resources may be:

• Mental health, especially if you left a toxic environment

• Financial- having financial support so you can grow your business as a side hustle

• Skills- a role to help you build skills needed for your future business

• Flexibility- a job that gives you time to build your busness

• An organization that allows you to have a part-time business

If this sounds like you, use the 5 steps below to find your bridge role:

Asses your “why” for wanting a bridge job

Assess why you want to quit your role. Ask yourself:

• Is it that you like the company but dislike what you are doing? 

• Is it because you feel stuck? Why do you feel stuck?

• Do you need to build skills for what you want to do next?

Knowing the reasons ensures you don’t quit for a worse situation because your decisions are blinded by your emotions. I strongly suggest consulting others before making the decision.

Define what the bridge job needs to do to meet your needs

Once you’ve clarified your why, list what you need from your bridget job to get you to your next. The list becomes your guide to ensure your next role fits your needs. For instance, does your bridge job need to:

• Provide enough income to help you pay off debt

• Allow you to have a side business

• Flexibility so you have time to grow your business as a side hustle

• Role frees you to focus on your mental health

• How long you want to be in the role

• Allow you to do or train in specific skills

• Provide desired benefits

Don’t skip this step. Being clear on what you need prevents you from making a wrong decision.

Explore your options for the simplest way to get your bridge job

Now that you’ve clarified why you want to leave and defined your ideal bridge job, explore your options:  

• If you like where you work, can you ask your employer what you need to change- reduced hours, hybrid work schedule, training, or education for a different role?

• If you're looking for flexibility, can you become a contractor vs. W2 at your current employer?

• Look for 1099 contract positions with a new employer.

• Consider part-time work

• Search online job search websites and search contract positions for your desired timeframe.

• Research temporary position, sometimes not listed as a contract

• If you have a special skill, consider using websites like Upwork or Fiverr for freelance work

• Ensure the bridge role you are taking allows you to be self-employed while working.  If yes, do they stipulate what type of work you can do? Note: For my writers, do they allow you to republish your work in your own portfolio?

Start using/ building your network

Note: Do not tell your co-workers about your plans or mention it on social media. No matter how trustworthy you think your co-workers are and how careful you think you are- things have a way of getting out. 

Consider doing the following as you’re searching for your next role:

• Hire a resume writer to create/update your resume. Some resume writers included LinkedIn writing services

• Reach out to your network about opportunities

• Search for employer reviews on websites like Glassdoor

Make a money plan for your transition to your bridge job.

Start planning your move early. This will give you time to gather the information you need to make the most of your move. 

• Review your employer documents with an attorney for noncompete language

• Find out what dates your employer ends your benefits when you leave.

• Get any medical procedure done while with the organization

• Start removing (if you have it) personal information from your work computer

• Starting saving work you may want to use in the future

• FInd out dates of equity compensation and/or bonuses are paid out so you’re not leaving money on the table

Determine how much you’ll need from your bridge job to quit your job and start a business:

• Cover your living expenses for at least 3, preferably 6+ months

• Save for personal upcoming expenses like travel, birthdays, etc.

• Save for business start-up expenses,
  

To recap

If you cannot fully transition into your calling, consider a bridge job as a step toward that goal.  Be strategic in choosing a bridge job and do the following:

1. Assess your why for wanting a bridge job

2. Define your ideal bridge job

3. Explore your bridge job options

4. Start building your network

5. Make a financial plan

These 5 steps will go a long way into helping “bridge” the gap from where you are to quitting your job to start a business

Next Steps

1. Find a quiet place, and reflect and write down your why for quitting your job to star a business.

2. Do research on what you eventually want to do to see what skills are needed

3. Start reviewing your monthly expenses to determine how much you need to maintain your current lifestyle.