Starting a startup is a fun and exciting journey that most start while working a full-time job. First of all, it can be legal to start a business or side hustle while working a full-time job. However, you need to carefully read your employer’s contract to see if this is allowed.

The new boom in remote work due to COVID-19 has flipped the legal and ethical question of building your business on an employer’s clock on its head. The lines of work-home and work-life balance have been buried. Traditionally, if you were starting a business while working in an office during company time, then a red flag. However, the beauty of working remotely is you usually get to choose when company time is. Ensuring that you complete the necessary task for your current job there is absolutely no reason why your startup or side hustle would be an issue.

To avoid any future issues, you should read the agreement of your employment contract very carefully. Make sure that you understand your obligation to your employer has violations that can lead to termination and put your startup at risk. There is also the question of Intellectual Property (IP), you do not want your current or former employer suing you over IP for your startup.

IP battles can range around the following stipulations in your employment contract, look out for these:

• A requirement that you get written consent from your employer before getting involved with any outside activity — even on a part-time basis or as a consultant or advisor
• A requirement to protect your employer’s confidential information and trade secrets, and not use it for any outside purposes
• Assignment to your employer of any intellectual property that you develop while employed there
• A prohibition on working on any venture that competes with your employer

I would say not sharing your startup activities with your current manager or HR department at your company. The risk of IP and lawsuits might be an issue. Most founders keep working on their startups while holding down a full-time job. For the tech-savvy founders working as Product Managers or software engineers in a tech company. A rule of thumb is your product and service should not compete directly with your employer as you run the risk of your employer taking action against you.

Be mindful of your social media use as well, do not change your LinkedIn profile to reflect your new business or side hustle while still working at your employer. Jealous colleagues might report you to your manager or your employer might be using tools as well as social media to see if you’re job searching or working two jobs or side hustling.

So you’re at the point of seriously considering quitting your job. We all have at some point dealt with a bad day at work or an annoying coworker. Maybe it’s a bad manager, a disrespectful co-worker, or a lack of promotion within the organization. Whatever it may be, something leads you to the path of really considering leaving your jobs. So how do you navigate your emotions and figure out your next move in life and career? Remember at some point you wanted this job, got dressed up, and put on your best face to impress a hiring manager. Maybe you didn’t get the promotion you desired or you require a new challenge.

You should quit your job for the following reasons: 1) having enough savings, 2) finding another great job and 3) taking a sabbatical for mental health.

I know when I left my job after 3 years, I was seeking a new adventure. After 18 months I mastered the role and started to explore new opportunities. I looked deep and wide in the company but I just couldn’t find the next right role for me. The options were limited and I thought of my goal of becoming an executive within the company. I looked at the careers of a few VPs and senior directors in the company and they all had different fancy titles but were essentially doing the same job. I thought maybe going to another department within the company would bring forth new opportunities. The more I tried for other departments, the more I felt I was blocked by upper management. I was good at my current job and they had no real intentions of promoting me or having me move to other departments. After 24 months on the job, I noticed coworkers were becoming negative about my success. People constantly trying to belittle me and break me, I had to leave, I needed to grow. I decided to take an adult gap year to refocus myself and my skills. I carefully weighed the risk and benefits and it was the right move for me.

That is my story, now let’s look at yours. What do you need to make this big decision in life? What factors play a role? Let’s dive into the things you need in place before considering leaving your job.

• Savings: The most important thing is savings, having savings gives you the options to take advantage of life and opportunities. Get your savings in order before you leave your current job, Calculate how much you need to live off 6 months to a year and have that put aside in your bank.
• Finding another Job: Start your job search early make sure you start looking for jobs that match your career goals. It’s very hard to build a career, most people will have jobs, and hop from one job to the next job. At my previous company, it took on average about 10 years to get to a middle-management role and another 5 years to be a director. So finding the next job that can provide you with that opportunity for growth is really important.
• Take a Sabbatical: This option is not talked about often but this is a great opportunity to take 3 to 6 months off work and refocus. This is a good strategy if you’re suffering from burnout or any mental issues related to work. You need a break but want the security to return back to your job or travel the world and focus on job searching while technically employed.

Leaving a job is a difficult decision for anyone, you have to figure out your priorities and weigh the best outcome for your situation. Never forget our simple criteria to determine if this is the right move for you. Remember an adult gap year doesn’t hurt and could be a great opportunity for you to refocus and advance your career further.

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It’s Okay

Graduating College without a Job LinedUp

We are approaching graduation season, mid-way through February your first of two midterms would start and soon will be graduation for many seniors completing their degree programs.  Hopefully your university or college has a dedicated career office to help with your job search. Some university career offices might have resources such as: job listings, resume -writing help, career assessment to identify potential career paths and events for networking or professional development. 

 

One can also, tap their academic network, your professors are not only a resource in the classroom but also in the job market. They can provide letters of recommendations, references and introductions. Some professors are consultants to companies off-campus and have great connections in their field of study. Associate and part-time lecturers will likely be working for other companies full time and teach as a way to give back to their communities.  Your classmates come from various backgrounds and could have connections to the job market as well. Even classmates that are currently looking for opportunities can help as an accountability partner and can share information and leads to opportunities you might have missed. 

 

Looking at temporary work might be a good chance for you to make some cash before your career making job or for grad school depending on your financial situation. Sign up with agencies that specialize in temp job placements. Also, departments at your university might be losing students hires once the academic year comes to an end and they move on. Keep in mind that temporary jobs can lead to permanent positions within the company if you show up with a positive attitude and excel at your task. It also provides you with a way to connect with other departments and hiring managers within the organizations. 

 

Now for our specialization, Internships. Internships offer some of the similar upside as temporary jobs without a specified salary depending on your arrangement.  Internships afford you the opportunity to shadow mentors, leaders in industries. These relationships can provide intrustomental to your career over the next 10 years. The connections to other leaders, business strategy and insight into navigating your career to end up in a similar position as your mentor. Internship can be in companies that you are keen on getting into, for example the FAANGs (Facebook, Apple, Amazon, Netflix and Google) or those traditional hard to getting to positions like investment banking at Goldman Sachs. 

 

They often say the best time to look for a job is when you’re already in a job.Job searching while currently employed can result in less pressure and finding the right fit (position, salary and benefits) for you. Would you be able to quit your current job without having another linedup? 

 

Landing your new job before resigning from your current one is ideal as your resume/ LinkedIn show no employment gaps and you maintain your lifestyle without dipping into your savings. 

 

The most important skill you can have today in this job marketplace is Marketing. Being able to constantly market yourself will lead to several advancements in your career. For reasons that are self -evident marketing has been traditionally important for entrepreneurs and free-lancers. Recent trends in the job market have made marketing increasingly important. Back in the days, it was not uncommon for an employee to hold a job for 20-30 years and spend their entire working life within one organization. 

 

In today’s shifting economy everyone is self-employed, the term your the CEO of your life rings true today. You will change more jobs and career in your lifetime than someone 60 years ago. Competition is fierce and knowledge of effective self-marketing (job hunting) techniques can be the difference between getting the job/ career you want or settling for less. There are tools today that allow you to constantly market yourself such as: using LinkedIn effectively, social media and taking professional development courses. Communication your successes with coworkers, managers and directors before asking for your next promotion are necessary steps to market yourself to your coworkers. Whether you know it or not, you are evaluated every day from your first interview to your last day on the job, mastering how you’re perceived by your coworkers is important. Marketing complete package is a matter of Image and Perception. 

 

At some point you have seen a business that is perceived as being in trouble (even when it’s not) eventually fails due to a lack of consumer confidence. The same is true at the individual level, the person that is currently employed typically has an easier time finding the next job than one who is unemployed. This is again is a matter of perception of success. Not saying you should fake it until you make it, but market yourself with the right amount of emphasis on your skill sets and uniqueness. Your resume is your first marketing document, your linkedIn profile, coworkers, networks and social media are your secondary avenues to market yourself. Approach these avenues carefully with a steady stream of positive information about you and I can assure you you can have your job linedup before quitting your current position or leaving school looking for your first job.