Are you fed up with your job and now planning to start a business? First, do these 4 preparations so that you don't have to regret it.

Many times people who are employed think of starting their own business. But to start a business you need a good amount of funds, and there is also a risk involved in it. So before taking this decision, keep these 4 preparations with you.

Many times in a job you have to handle all kinds of pressure, many times you get bored of the same routine every day and in such a situation, the thought comes to mind how long will you do this job? But what will you do if you leave the job, this is a big question. Most people think that they will leave their jobs and start their own business. But to start a business you need a good amount of funds, and there is also a risk involved in it. If you are also thinking of taking such a decision, then first make 4 preparations, so that you do not have to regret this decision.

Create an emergency fund

Sometimes it takes a lot of time to start or run a new business, in such a situation you may need an emergency fund. Therefore, before deciding to quit the job, prepare an emergency fund. This fund should be of 6 to 12 months of your current income.

Finish all liabilities

If you have taken a loan from a bank or have borrowed money from someone, then before leaving the job, you should repay all these liabilities first, so that when you will have a time of struggle during the business setup, then there is no problem due to them.

Make a plan B

If you have planned to quit the job, then obviously you must have evaluated the situations. When you are out of a job and you are busy setting up your business, how will you meet your daily needs and other expenses, all these calculations will be in your mind. But you will also have to think about what you will do if your plan does not work out as per your estimation, your business does not work out? Before leaving your job, make sure to have a plan B, otherwise you may face a big problem.

Control expenses

After leaving the job, until your business runs properly, you may face many financial challenges. To deal with these challenges, it is very important that you control your expenses in the meantime. Stop unnecessary expenses completely. If you do not do this, then the problems may increase.