The second factor to consider as part of the business reality test is “financial feasibility”. When you assessed your career or job needs and goals did they stack up financially?
Of all the factors of the business reality test, this is the one that people struggle with the most. If your career or job failed the test, then you may want to consider what is more important to you, or re-look at your finances.
I would encourage you to be honest and identify how much is your minimum requirements, including benefits and allowances. Although, it is important not to rely on benefits and allowances as part of your salary package as they could be removed at any time.
Most banks have very good budget calculators, or I have found the Australian Securities Investment Commission website to also be helpful in developing a budget – Budget Planner. Quite often we are pleasantly surprised when we consider what we really need vs what we want. At the end of the day this will all come down to what is more important to you, the money or, the dream job.
We have all heard of the struggling actor who one day makes it big, although this may seem like a dream, it is really all about being committed to what is important to you and following your dream.
Of course, if you have a family and commitments that can make it difficult for you, but again be honest and sit down and see where you may be able to cut costs.
Another thing to consider is, do you need to take a step back to move forward. For example if you are looking to change your career, you may need to start at the bottom and work your way up. In this case you need to understand how long you are prepared to take a lesser salary for the long term gain.
What ever you decide to do, the important thing is that you go into this change with your eyes open and understanding what is the worst that can happen. If you can live with that, I would encourage you to follow your dream.
If you have any questions, or would like to sign up for the full program, please contact me at Startafreshlife.