Starting a home-based business is nothing new for many entrepreneurs, but deciding when to take it full-time without the safety net of a full-time job can be quite scary for most first-time entrepreneurs. That home-based business is great way to supplement your income and can be done for years. But there may come a point where you need to cut the ties and make the business your-full time job.

Before we discuss the reasons you should finally cut the “umbilical cord” and quit your full-time job, lets discuss some of the steps you can take leading up to making your business a full-time commitment.

The legitimacy of you business and the professional image your business needs to have is important to its success. Having your home address or a P.O. Box address for your business just does not cut it in today’s economy of skeptical customers. People have a tendency not to take home-based businesses seriously and become even more skeptical of a business that has a P.O. Box as its primary address (because of the fly-by-night nature that implies). Therefore, new customer acquisition becomes more difficult.

The costs of renting and setting up a physical office space can be a challenge for many businesses, but even harder and more financially straining on a start-up or a business that has previously been run from home. The answer is a virtual office business address at a professional business centre that has a reputable business address compared to a P.O. Box. Virtual office solutions can not only help go towards giving a small business legitimacy, they can also offer other products that can support its businesses activities – such as offering meeting spaces and a-la-carte secretarial services.

Let us get back to knowing when it is time to actually quit your full-time job and financial “parachute.”

1) The first indicator that you may be able to quit your job and work full time on your small business, is when the income from the business is enough to cover both your personal and business expenses for a minimum period of six to eight months consistently. This should also cover the additional benefits that you get as an employee, such as healthcare plans and retirement savings contributions. Additionally, you have been able to save enough money to cover your income and expenses for six months of what your day-job would have covered.

2) For the most part, your trial-and-error period has pretty much ended and you have most of the potential problems with your business model worked out, meaning that the biggest risks are behind you or prepared for. This also means knowing which of your offerings will bring you the most profitable returns, so that you are able to concentrate on those products or services.

3) That point when you realize that you are not only mentally, but physically prepared to take your business to the next level. You have come to that point where you now realize that your work from home is no longer a side project, but a full-time commitment that is just like having a full-time job (only longer hours). There is no set working hours and no safety net of a job – this is now your “job.” By being physically prepared, you are ready to commit to a separating of home and office, meaning that you have set physical boundaries and times when family and friends can enter or interact with the “work zone” or the types of interactions that can take place in that zone that are not business-oriented. While this is not truly a physical boundary and more of a rules boundary, you have to treat it as such. You would be surprised how easy it is to get distracted by non-business activities when you are working from home. You must keep focus on building and growing your small business.

4) Family and friends as a support network is great to have and can be mission critical, but you also need a support network of peers, mentors and business coaches that have your best interests at heart. If you have established a strong support network that is also encouraging, this is a sign that you might be ready to go all-in and quit your day job.

So what about the growth of your business? Earlier we mentioned the benefit of having a professional business address at a virtual-office-solution provider – the right one that can also offer you office space when you need to get a physical office. Finally, when you lease office space at the business centre that has provided you with a virtual address, you do not need to change your business address.

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18 King Street East Suite 1400
Toronto, Ontario
M5C 1C4 Canada
416-574-1112

18 King Street East Suite 1400
Toronto, Ontario
Canada M5C 1C4
416-574-1112

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We are by far the most experienced and best coworking team in the market – established in 1980

We are the highest Tech centre in the market

We have a very modern, high quality, brand new facility located at:

18 King Street East, Suite 1400

Toronto, Ontario M5C 1C4 Canada

- 18 King Street East is a boutique Class A building – East of Yonge: easy street parking, less traffic, excellent restaurants and lovely parks – St. James Park @ Church & King and Berczy Park @ Wellington East, Scott and Front Streets – Very high energy and engaging area
- A few steps (a few seconds) to the Yonge Street subway/underground PATH network and streetcar available outside building
- Building is located in Toronto's vibrant financial district
- Plenty of parking available in the area including street parking and reserved parking in the 18 King building
- Adjacent to the building huge outdoor food courtyard - Beer Bistro www.beerbistro.com and Craft Beer Market www.craftbeermamrket.ca restaurants and bars with onsite catering services
- Onsite amenities: Tim Horton's, Beer Bistro, Convenience store and Starbucks across the street
- Nearby amenities: underground PATH network, numerous restaurants, banking, Starbucks plus a wide array of nearby shops and services
- New modernized office layout fully furnished with meeting spaces and training rooms plus café lounge area
- We are leaders in the service of training/meeting rooms with full conference facilities, high quality hot and cold catering
- Largest training room and conference facilities accommodate up to 60 people classroom style
- Ultra-high-speed - 1 GIG pipe = 1,000 x 1000 fiber-optic network, which will deliver internet connection speeds faster than most North American services
- Private shower room
- Indoor Reserved Parking at the current building rental rate
- Bicycle parking
- Rent a space to accommodate your team for meetings, training sessions, corporate events or coworking space or flexible office space for one day, one week, one month or one year, or whatever term suits your business
- Telsec has over 650 locations in 40 different countries worldwide available for their clients. Office clients receive up to 8 hours of meeting space per month at no charge at any ABCN member location. Plus, Office and Virtual Office clients may rent a space from any member location at special member rates which varies depending on the location
- King Edward Hotel is located across the street - recently completed a $40 million renovation and boutique hotels close by within walking distance

Dining and entertainment at high quality restaurants only minutes away – Carisma, Terroni, Woods Restaurant & Bar and Michelin Rated - Restaurant 20 Victoria. Plus numerous lunch and takeout eateries nearby

Please check out our 70 second video on our home page or click here:

Take a look at our facilities www.telsec.net

Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements.

You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.

Four ways to know that it might be time to quit your day Job

Looking to Learn More?

Buying vs leasing vs renting office space – different perspectives!

If you want to a have true impact as an entrepreneur, there are things you need to master.

Four ways to know that it might be time to quit your day Job

Looking to Learn More?

Buying vs leasing vs renting office space – different perspectives!

If you want to a have true impact as an entrepreneur, there are things you need to master.

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