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Should You Quit Your Job Without Another Job?

Should You Quit Your Job Without Another Job?

I bet you feel like you can’t afford to leave your job.

Maybe you’re right. But then again, maybe you aren’t.

Regardless of what you believe right now, your current job just doesn’t cut it. Your boss is stressing you out or you’ve outgrown your role. The next logical step is to quit but you don’t know how to go about this. You cringe about the idea of sending your resignation letter to your boss. On the other end, you’re worried about how you’d cover your bills.

So what happens?

You let these thoughts roam your head each day without taking action – hoping that one day you’ll find the answer. I hate to break it to you but you’re playing the wrong game.

The truth is that you quit your job without another one lined up isn’t easy. But by planning ahead, you’ll be better prepared to make the choice that’s best for you. If you’re done waiting for an answer–here’s how to know if quitting your job without another one lined up is the right choice for you.

1. Remember, You Only Need One Person’s Permission

I get it, leaving a secure job isn’t easy–especially when you’re earning a high income.

When I was going through this phase, like most, I’d seek out validation from others. The problem was that I’d end up with mixed answers.

My family worked for a single company most of their lives. So when I’d mention wanting to switch careers, I was being stared at as if I had a third eye. On the other end, some of my friends were supportive but questioned if my approach was the best option.

The truth is that most of the world seeks certainty in everything they do. To some extent, this is smart but it comes at a price. That’s settling for good when you could have something greater.

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You want to quit your job due to reasons that have been roaming your mind for some time. So why should you seek permission from anyone else that’s not you? Instead, take everyone’s opinion with a grain of salt and decide on your own.

To stay focused, make quitting your job as your goal to reach in the next 3–6 months. Data shows that you greatly increase your odds at achieving your goal writing it down.[1] Once you’re committed to quitting your job, you’ll be less dependent on other’s opinions.

2. Knock Fear by Changing Your View

Embrace your fear of the unknown.

It’s crazy to know that some people are afraid more of public speaking than [death]. Let’s face it, leaving your job is scary. But this shouldn’t prevent you from taking action.

Instead, change your perspective about leaving your job. For example, do a checklist comparison for staying and leaving your job. When you discover that you have more negatives on one end your fear becomes less relevant.

Take my case, for example, a few months ago, I was afraid to launch my own Podcast. After months of shooting this idea down, I’d realized that fear of the unknown was what held me back. So, I started slow and eventually worked my way up to launching my own Podcast to the world.

So why am I sharing this?

To prove that fear is most likely holding you back from making a choice. Instead of ignoring your fear, embrace it. Start by creating a plan and work your way up from there.

Take a look at this article if you want to learn how to conquer the fear of the unknown:

7 Ways to Overcome Your Fear of the Unknown And Get More Out of Life

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3. Don’t Wait to Have a Complete Exit Strategy

Most people believe that they need a thorough plan to quit their job. But this is far from the truth.

Do you know what’s more valuable than your job or money? Your health.

Research shows that stressful jobs trigger your fight or flight response frequently.[2] Because this response is response triggers your body takes a toll – leading to long-term health issues. While a sustainable income is important, working at a stressful job is bad for your well being.

But if you’re healthy, use this knowledge to create an exit strategy to leave your toxic job as fast as possible. Good enough is better than perfect.

Besides your health, there are other reasons why you may need to quit as fast as possible:

You don’t have full control of your schedule.

There are jobs that are too demanding, especially if you’re in a senior level position. I’m a firm believer that we can always make time for anything, but a demanding job may be the exception. The problem with a demanding job is that on most days you have back-to-back meetings.

Sure, you can cancel some meetings but you can’t predict this– making it challenging to set specific interview dates.

If this is you, explore quitting to focus your attention on the job hunting process.

You can’t keep your job search confidential.

Although there are thousands of companies to choose from, you may work in a niche industry. Because of this, it would be difficult applying to new jobs without your boss finding out.

If you have a great relationship with your boss, this won’t be an issue. But if your boss micromanages you, it may be better to leave your current role before applying to new ones.

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4. Answer These Questions to Create a Plan

So how’s an un-detailed game plan different from a thorough one?

It doesn’t take long to make. It’s a simple checklist of questions that will help you transition out of your current job.

First, decide if leaving your job is a definite decision. Mingling with this idea will only prolong the process from taking action. Instead, be decisive to start creating a plan.

If you know that you have skills that are in demand, estimate how long it would take you to find a new job. For most people, this would take anywhere from 3 to 6 months. Knowing this you could predict how much you’d need to save and the number of job applications you’d need to send.

If you’re a stay at home spouse who can afford to quit without saving money you have an advantage, for most this isn’t the case. Here are some questions you need to answer before quitting:

  • How long can you cover your expenses?
  • What will you do in the next 3 to 6 months if you quit today?
  • What type of job do you want to transition to?
  • How have you invested in yourself these past 3 months?

These questions will prepare you to be productive for when you do leave your job. More importantly, these questions will help you find a job you love. Often times, people quit their jobs only to jump back into a similar one and put themselves in the same scenario.

5. Risk Everything to Find Your Zen

“How we spend our days is, of course, how we spend our lives.”–Annie Dillard

It might seem trivial to dedicate a lot of your energy transitioning out of a job you hate, but it’s time well spent.

Aside from health issues, working in a job you’re miserable in is a waste of your time. You won’t grow to your full potential and won’t live a happy life.

Data shows that on average that you’ll spend 4,805 days working and 368 days socializing.[3] If this doesn’t scare you to not procrastinate in leaving a career you hate, nothing will.

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That’s why it’s important to surround yourself with amazing people who’ll push you to grow. Listen to podcasts, read books, and network with people at higher levels than you. Doing all these activities will help you put your life in perspective.

The more you invest in growing, the more confident you’ll become. Once you’re confident you’ll value yourself more and tolerate less a job you hate.

Have the Courage to Improve Your Career

Should you quit your job without having another lined up?

That’s a question that only you can answer. But I bet that deep down you already know what’s the best choice.

The good news is that you now have a mini blueprint for how to transition out of career your hate.

Don’t wait to have another job lined up if you don’t need to, but plan accordingly. Remember, you don’t need anyone’s permission nor a complete strategy to take this leap of faith. Leaving a job even with another one lined up is never easy but worth doing.

Imagine waking up each morning and feeling excited to start your day–the crazy part is that it’s Monday. While most need coffee to get them through the day you’re energized without it. You’re working in an interesting job and couldn’t be happier.

Is this a Utopian dream? Of course not. You simply created an effective strategy and took action.

The world is yours for the taking, now go get your dream job.

More Resources to Inspire You for a Fulfilling Career

Featured photo credit: Anete Lūsiņa via unsplash.com

Reference

[1] Dominican Edu: Goals Research Summary
[2] Center for Disease Control and Prevention: STRESS…At Work
[3] Huff Post: We’ve Broken Down Your Entire Life Into Years Spent Doing Tasks

More by this author

Christopher Alarcon

Finance Analyst and Founder of the Financially Well Off Blog & Podcast

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Published on August 4, 2020

How Smart Goal Setting Helps You Make Lasting Changes

How Smart Goal Setting Helps You Make Lasting Changes

SMART goal setting is one of the most valuable methods used by high achievers today to actualize their life goals time after time. SMART goal setting is the inverse of random or carefree goal setting without strategy.

Perhaps, you’ve always wished to get back in shape, get an annuity, or take control of your finances, but you failed to act. When you approach your goals with a care-free and nonchalant attitude, you’re less likely to achieve them.

You should have a strategic goal setting method in place, and learning how to set smart goals is imperative in this case. The method is time-tested and purposeful, meaning it can help you achieve your goals now.

To achieve your goals consistently and join the pack of high achievers out there who have consistently achieved many of their goals, you must be prepared to do what these people have been doing, and be ready to do the right thing: SMART goal setting.

What Is the SMART Model for Setting Goals?

SMART goal setting is a goal-setting method that considers certain factors about a goal relative to the person setting it. These factors are simply the five different letters in the SMART acronym for goal setting.

It is relative to the person setting the goal because what is true for A may not be true for B; or what is possible for A or within A’s ability to achieve may not be possible for B or within B’s ability to achieve.

What does the goal setting acronym SMART stand for?

  • S—Specific
  • M—Measurable
  • A—Achievable
  • R—Realistic/Relevant
  • T—Time-bound

Is it possible that this acronym can make a long lasting impact in your life?

Is it possible that a mere goal setting metric like SMART can help you achieve so many of your unfulfilled goals?

Is it possible that if you practice SMART goal setting, you will be able to have faster results, understand your goals better, overcome the habit of procrastination, and achieve a lot?

The power to achieve your goals is in your hands.

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It is important to extend the inquiry by asking: How many times have you said you’ll do “X,” but failed to do so?

We all have goals, and we all have 24 hours each day at our disposal. While some people find it easy to achieve their goals without procrastinating, some find it difficult to do so.

For some people who have succeeded again and again in achieving their goals, they have simply found an easy way of doing this. Is there something they know that you don’t?

How Smart Goal Setting Makes a Lasting Impact

Smart goal setting examples can be found all around you. Through SMART goal setting, Stephen Cooley was able to grow his real estate business to the point of closing at $110 million in sales when the average price point of homes was between $100,000 – $200,000 in South Carolina[1].

Through SMART goal setting, Steve Jobs was able to improve the fortunes of Apple and prevent the company from going bankrupt, even when it had barely 90 days left before being declared so.

SMART goal setting can make a lasting impact in your life in several ways.

Make Your Goal Clearer

When you use the SMART criteria to set goals, it is easier for you to understand the various phases of your goal.

By using SMART goal setting, you’re able to ask yourself relevant questions pertaining to your goal.

Motivate You Into Acting on Your Goals

When you use SMART goal setting and break down the goal into smaller goals or milestones, the bigger goal no longer looks intimidating or impossible.

Jack Canfield, co-author of Chicken Soup for the Soul, wrote in his book How to Get from Where You Are to Where You Want to Be about how they applied the rule of five in marketing their book, Chicken Soup, and were able to make the book a best seller after some months[2]. The rule of five simply means doing five specific things every day that will move you closer to achieving your goal.

In order not to be overwhelmed, you would have to measure your performance using the right metrics. Here we are considering the Measurable and Achievable aspects of the SMART acronym. It is critical that you measure yourself in terms of lead measures.

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What are lead measures? They are the things you do that leads you closer to your goals. On the other hand, you would have to avoid “lag measures.”

While lag measures mean a successful outcome that you wished for and got, they can be emotionally draining and deceitful because, whenever they don’t happen, you can become discouraged.

Therefore, it is better to stick to lead measures.

Help You Save Time

You can achieve more when you use SMART model goal setting.

To be strategic, your goal would have to be specific, measurable, achievable, realistic, and time-bound. If you can’t identify any of these points in your goal, you probably will be wasting your time on a wild goose chase.

When your goals are written down, it’s easier for you to go into action mode.

Improve Your Self-Discipline

Self-improvement is an important thing for everyone to do periodically. When you set SMART goals, it makes you realize that you have to sit up and work on achieving them.

How to Set SMART Goals

See the source image

    To make your SMART goals work, use the following tips:

    Specific

    Every goal ought to be specific. It is important to guard against making vague goals because even when they have been achieved, you may not know. This is because you weren’t specific enough.

    For example, “I will start planning toward retirement” is vague. Rather than write that, you could say, “I will start planning toward retirement by starting an annuity plan.” This is more specific.

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    When you are specific on your goal, it’s easier for you to identify all its components and work accordingly toward achieving it.

    Measurable

    Your goals must be measurable. When they are measurable, it’s easier for you to follow through.

    A goal like this is not measurable: “I want to make millions of dollars.” You can make it more measurable by saying, “I want to make one million dollars selling one hundred thousand copies of my book at ten dollars each.”

    Also, using our SMART goal setting examples while explaining the Specific acronym, you can make the goal more measurable by saying, “I will start planning toward retirement by starting an annuity plan and saving $500 every month.”

    Achievable

    How realistic or actionable is your goal? Is it practical enough to fit into a given time frame? Is it something you are able to achieve in your capacity?

    You would only be setting yourself up for failure if you sets goals that are not reasonable.

    A goal like this is highly unrealistic and, therefore, not achievable: “I want to be the Governor of Texas in six months,” especially since the elections will be coming up in three years.

    Goals must be written down relative to the experiences of the one setting them. They must resonate with you. It is important that you have at least some of the resources needed to actualize this goal.

    It is also important that you consider your time frame. When the time frame to achieve a complex goal is too short, it is rare that such goal will be completed.

    Thus, using our previous example, if you write “I want to make one million dollars in ten days selling one hundred thousand copies of my book at ten dollars each,” you would only be setting up yourself for failure.

    This is especially true if you’re not a popular author or if you’ve never sold even up to one thousand copies of any of your previous books, whether e-copy or in print.

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    Realistic/Relevant

    Before you proceed to making the commitment toward that goal, you need think about how realistic and relevant it is.

    Being realistic means you should be willing to make all the commitments required for that goal to be achieved. If your goal is relevant, it fits into the life you’ve imagined for yourself.

    Time-Bound

    Every goal must have a commencement date and an end date written down. It is also important that you break down your goals into phases, chunks, bits, or milestones.

    The act of having deadlines set to your goals is ample motivation that drives you into action. Without a deadline, it is not possible for you to know if you’re making headway with your goals.

    “I will start planning toward retirement by starting an annuity plan and saving $500 every month for the next twenty five years” is a time-bound goal.

    Remember that some goals are short-term while some are long-term. It is important to always bear this in mind, because this will help you in making a clear and realistic strategy when SMART goal planning.

    Without SMART goal setting in view, much of our goals may likely end in our minds, on paper, or just midway into implementation. SMART goal setting reveals to us all the action points of our goals and helps us to have an awareness of every aspect of our goals.

    The Bottom Line

    What matters at the end of the day is what you do with the contents of this article because the power to achieve your goals is in your hands.

    It is not enough to have a goal. It is not enough to put it down in writing. It is important to have a strategy in mind while putting it down. This strategy is a guideline or set of rules that point you in the right direction. It is SMART goal setting in the given circumstance.

    After writing down your goals, you will have to be ready to take action. There should be a clear action point. Write down what you need to do on daily, weekly, or monthly basis.

    When your goals are realistic, they make them worth the chase. One of the things to bear in mind is that, in order not to be overwhelmed by the daunting nature of your goals, remember to always break them into milestones, chunks, or bits. In fact, take one day at a time.

    Do not bother yourself with the one-year, three-year, five-year or ten-year plan as this may likely overwhelm you with fear and doubt. Let your focus be on each day. What will I be doing today? Consider this and go for it.

    More on the SMART Model for Setting Goals

    Featured photo credit: Kelly Sikkema via unsplash.com

    Reference

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