In this episode, #1 Bestselling Author and Highly Acclaimed business Entrepreneur Expert, Mel Abraham answers a common question that comes up when transitioning from employee to entrepreneur and that is when to quit your job. There isn't a single answer that works for all as it is different for each and every person.First, you have to understand that if you don’t get it right, you face key problems that are:You are living a dual life,You have no joy in earning, andThere is no or low cash flow.When you get it right, these key promises are fulfilled:You feel the flow,Your passion is monetized, andUltimately you have freedom and cash flow.So, for the transition we have to work from the principles of:Being committed vs reckless,Planning and testing, andSet your scale threshold.Now, we can move forward and understand how you can affect the transition from job to entrepreneur using the framework:The Entrepreneur Transition FormulaPreparationPassion: Find what you enjoy doing. It should be something that you would do even if you didn't get paid—something that you just love to lose your time in.Value: Figure out how you can provide value doing what you are passionate about so that you can gain in the value exchange economy that is out there.Interview: Go out and survey or ask your potential customers, clients and markets whether what you create is what they will buy.EvaluationPlan: It is about planning your business. Plan the how, when, where, when and what about your products, market, costs and revenue.Micro launch: To reduce the risks, do a test launch on a small audience and see how your product or service performs.Assess: Get the information from the micro launch and evaluate it so that you can make adjustments before taking it to the market.ExecutionFinancial viability: It needs to make financial sense so work out the costs, investments and revenues.Team: Take careful steps to decide on the critical people that you need on your side.Scale threshold: This is the point where you can quit your job. The threshold is different for everyone, so factor in your current income, cost, lifestyle, family and other people that depend on you.__________________________ABOUT MEL ABRAHAMMel

is the founder of Business Breakthrough Academy and Thoughtpreneur

Academy where he helps entrepreneurs bring their businesses to the world

and build the lifestyle that they want. Mel is one the most sought

after entrepreneurial mentor and strategic thinkers of our time. Unlike

many other so called “business coaches”, Mel has lived everything he

teaches and continues to do so. Mel has built, bought and sold numerous

multimillion-dollar businesses for himself as well as his clients. As

the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path

to More Profit, Fans Freedom Entrepreneur, Mel’s strategies have

helped build thousands of businesses and have generated hundreds of

millions of dollars for his clients, ranging from large corporations to

startups and small family-owned businesses.Mel

is a true believer in the entrepreneurial way of life and says that

this “new frontier” is the paradigm that will shift society from simply

existing to living life bigger, bolder and on their own terms.Meet Mel at http://melabraham.com/____________________THE ENTREPRENEUR'S SOLUTIONThe

Entrepreneur's Solution is a weekly entrepreneur, business, wealth and

lifestyle show where entrepreneur, speaker and author Mel Abraham

reveals all of his business and entrepreneur building strategies. Mel is

one of our time's most sought after mentors and speakers that not only

teaches but also lives what he teaches. Discover how to design, create

and build your business so it gives you the life and lifestyle you want.Subscribe to the free entrepreneurial podcast here: http://melabraham.com/podcastThe Entrepreneur's Solution Blog on Tumblr: http://melabraham.com/blog____________________SUBSCRIBE AND FOLLOWJoin Mel's FB Fans: https://www.facebook