A trade or home service

Roger Wakefield, 8 minute video

Video from Roger Wakefield Plumbing Education. Watch on YouTube.

What you'll get

For a trade or home service business: a plumber who built a company and now sells a course for new plumbing owners gives three tests to pass before you quit your job, whether you want to build a business that runs without you on the truck, who your customer is and isn't, and a break-even and cash-runway check. His examples are plumbing, but the three tests apply to any trade, so use them to decide whether you're ready to start.

Do this week

Write down your weekly break-even number, with truck, insurance, tools and your own pay, and how many months of those costs you could cover from savings if jobs came slowly.