Quitting your job to start your own business can either end really well or really bad.
If you are planning on starting up on your own in the same industry, you can invite trouble easily. However, you can also avoid trouble just as easily by turning your former employer into an ally. You already have a number of connections in the industry and a strong network thanks to your job. Now, you just have to ensure that you leave the company on a good note so that your current boss does not become your future rival. Many bosses fail to digest the fact that one of their employees left them to start his/her own venture that may compete with them in the near future. This is the reason why you should be strategic during your exit. Your former employee could be a gem of an asset for your new business is you maintain transparency and work towards building a strong relationship.
Listed below are a few tips to help you accomplish this:
You have to prove during your time at the company that you respect the values of the company and that you did your best for the growth of the company. This includes not talking about your future plans of starting up on your own to anyone, including clients and fellow employees. If you let slip to any clients that you want to start your own venture, it will end really badly for you. When the time comes for you to leave you should focus mainly on strategizing and planning rather than marketing even on the basic levels.
When you resign, we advise you to be honest about your intentions. Be clear about your goals and plans so that they do not directly feel threatened. May be your target audience is different even though your new venture is going to be in the same industry. Talking it out shows integrity on your part and that is an asset. Another benefit of doing so would be knowing first-hand if the company has a problem with your ideas. In case they object and think they can legally go against your ideas of starting up, you can work on their objections to come up with a compromise.
You are probably in a good position at the company and you resigning could stymie the company in more ways than one. In order to show that you care about the company and would still like to contribute, you could offer to work a little more before leaving or work as a paid consultant for a short period of time before leaving. This will help you end on great terms.
Leaving things on a bad note with your former employer can be dirty. Follow these 3 steps and make him an ally.
Your employer can help you with your new business provided you exit strategically and on good terms. Be respectful of the company and be honest when the time comes to resign. Also, offer to help even after leaving especially if you were on a good post in order to show integrity.