When to quit your job? This is a question I get from people who have started an online business or are already making money online and are wondering when the time will be right for them to take the leap into freedom from their 9-5, or day job.
This question is really for the person who is already making some money online, has a business going already, and is working towards being able to do what they love to do, or want to do full-time. Maybe they are like me and want to escape the rat race to live for their dreams and live life completely on their terms. I remember when I had the same question for myself, so I wanted to take the time to go ahead and answer this question for you so that you have a plan of when to quit YOUR job.
Obviously, if you are not yet making money online or are just getting started then your first goal needs to be to just start making money in your online business before you plan when to quit your job. In this video and post, we will discuss this to help you put a game plan together for yourself.
Being able to leave your day job, or 9-5 to work full time on growing your dream is one of the greatest most fulfilling moments you can achieve in your business success journey, and I just want to encourage you that if you stay focused, and work at this consistently you WILL make it happen and it’s only a matter of time of when you will hit it. The greatest challenge in determining when the right timing is of when to quit your job comes down taking an honest evaluation of your current business picture and the profits it’s generating for you. In this video, I discussed all this so make sure to check that out as well. The first question to ask yourself is if your business is replacing your income from your job, or is your business consistently producing the income profits you would need on a monthly basis to live on, as well as having money left over for any business needs, taxes, etc. So the first step in determining this make sure that you have a very clear written budget for your personal life budget, as well as your businesses budget. Having this clear picture of what you need in your personal life, as well as what your business needs on a monthly basis gives a clear bench mark picture for you that you need to hit in order to determine when to quit your job so that you can grow your business full time.
Once your business is producing consistent profits for you in such a way that it pays for all your expenses budget needs, I suggest that you prove to yourself that your business consistently hits this profit number to cover all your budget needs for at least three to six months before you decide to jump ship and quit your job. We all know that business have ups and downs, it’s not a job where you are guaranteed a set pay, and profits fluctuate. Yes, owning a business has the upsides of you really have the ability to make whatever income you desire and as large as you desire, but you also have the challenges of fluctuating profits to some degree at least so you need to make sure you plan accordingly. Proving to your self that you are at least hitting your budget goals for your personal life and business for at least three to six months straight will help give you the confidence that you may not need your job income anymore.
It was so exciting when I was able to step away from my full-time job, because that meant I had all that time I was spending at a job that was now freed up for me to put towards building our dreams through working on our own business and living life on our terms.
Make sure to watch this video for even more on this and some other suggestions.
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