Full-Time Marketers- When Is The Right Moment to Quit My Job?

15 years ago

Depends a lot on how good your job is, the benefits, etc., whether you are single, plus how much savings you have and your living expenses... but for a generic answer, I'd say wait until you have enough profit from your business to at least pay your monthly bills, if not equal your current salary.

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John Taylor

15 years ago

Originally Posted by Chris Lockwood

..but for a generic answer, I'd say wait until you have enough profit from your business to at least pay your monthly bills, if not equal your current salary.

And when you have some cash set aside to
cover the unexpected, or emergency, expense.

But, then that depends on your personal
attitude towards risk and if you have other
people who are dependent upon you.

The short answer is only you can decide.

John

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Kevin Marshall 15 years ago

Originally I was thinking this, but now I feel that this might take many years. Part of me says I should just take the plunge and work as hard as I can to have a profitable business. I figure it would take me about 4 to 6 months to match my income with my present job. If I stay at my present job, it would probably take years to get that far. In addition, my job will become much more than 40 hours a week between March and September, leaving me only a few hours a week to work on my Internet Marketing business.
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Kevin Marshall 15 years ago

Also, if you are a full-time marketer, I want to hear your story when you decided to go full-time into Internet Marketing.

Did you quit your job?
Were you already unemployed?
Did you start in your spare time, and then gradually grow your business into a full-time income?

I would like this thread to include the stories of people who made the big jump to do this full time.
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- Kevin Marshall 15 years ago
  
  I thought about quitting my J.O.B when my tax return comes in March!
  
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  ss442 15 years ago
  
  I've heard other full time marketers say they quit their J.O.B. when their online income equaled their day J.O.B. They also advised diversifying income streams or markets on and off line.
  
  I understand your point however, thinking that if you spent more time internet marketing you could make a lot more income.
  
  "I think of it this way, I will keep what I do during the day because I hate it". That motivates me to to do the internet thing.
  
  Another serious consideration is how much you like the area of the internet marketing thing.
  
  I used to work from home before 9-11. A year later our business ceased and I am back in the field and I don't like it. "Motivation".
  
  Best of luck.
  
  Ed
  
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- Killer Joe 15 years ago
  
  Kevin,
  
  John Taylor's right in that only you can decide, but a good rule of thumb is this...Only quit your full time job when it starts to cost you money.
  
  And by that I mean, if you are making more money with your internet enterprise to the point where it *costs* you money to devote time and energy to a full time job, then you know it is a good time to reevaluate the job.
  
  And part of the reevaluation process is making sure your finances are in good order with plenty of reserves. And that also implies your internet track record is substantial. Don't fool yourself into thinking that a few good months indicates the threashold. It doesn't. You need to think long term about self employment.
  
  KJ
  
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  Kevin Marshall 15 years ago
  
  This is a good point. I hadn't thought about considering the point where my job is "costing" me more money than I would make in my full time job. I probably need to get involved in a few more niches until I find one that has the potential to earn a substantial monthly income online.
  
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trafficwave

15 years ago

I had a few jobs when I started in the world of Internet Marketing.

As my online business grew, I started firing bosses. For me, the "magic number" was whatever amount it took to allow me to replace that particular job.

The last to go was teaching music lessons. I enjoyed teaching (sort of). I got paid pretty well to do it. But when the time came that I was too busy to provide good attention to my students and I could replace the income from my online business, I finished up the month and that was that.

That was 8 years ago and I haven't held down a job since.

I still play music as a freelance bassist because I love it so much. So that doesn't really feel like a "job" to me.

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jasondinner

15 years ago

Well, if you love your job, stay until you don't love it anymore.

Another option is to see if you can live on your own business revenue for 6 months without touching your job income.

If you can, then you should have no problem quitting.

Cheers,
Jason

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Dennis Miedema

15 years ago

Hi Ken, I'm currently getting ready to make the big jump too...I've started in my spare time while working a "dayjob" too, made $200 the 1st month
and $400 the second month without a website or anything while doing it...so may I?

- Expanding from one niche to five and writing 300 articles a month...I've been a rabid article writer myself in the last 6 months and posted on 10 different websites, trying to reinvent the wheel every time. When I didn't have a "name" established yet, I accidently posted an article I had already written on the same site I posted it on...and all kinds of new people gave great responses, and I got MORE responses because I had more of a name. So why not work smarter, not harder and "re-post" articles on a different site than before, or on the same but a month from now? Doubling results within minutes...p.s: you could also add or remove parts to give it a fresh touch.

- When it comes to finding the right time to quit, I use the strategy straight out of the 4hourworkweek: calculate your monthly bills, expenses etc. + 30% of the total amount for emergencies or a very rainy day and when you earn THAT amount you quit. Imagine your total expenses are $1000, it means that you quit on $1300.

- Little psychology here: 9 out of 10 mistakes you make are reversible or for the better in the long run (that's also out of the 4hourworkweek). Say you lose your job or quit but your business doesn't work out, you can always climb the corporate later of your profession with ANOTHER company (or even do odd jobs as you build your enterprise). But consider what you risk NOT doing it: never reaching financial indepence, never LESS than a 60 hour a week job, etc. The book does a much better job explaining it lol...so I recommend you check that one out.

P.S: don't refrain from sending me a pm when you want to talk more about article writing or making the big jump, heck, we could even figure some stuff out together my friend.

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keyaziz 15 years ago

Well you could just get a different job that gives you more flexibility. E.g. I used to work as a healthcare assistant on Bank..bank meaning I just picked when I wanted to work. I used to do 4 12 hour night shifts and then have 3 days off. But that was over full-time hours and you can cut that down. I didnt have to that every week either...some weeks when I was extra busy I did morning shifts and sometimes afternoon. But mostly nights because it was easy going a lot of the time and it meant I could get on with work at work

You could always find a job that gives you flexibility like that and get rid of the old one. At least then you can slowly cut down your hours to coincide with your internet business.
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- Kevin Marshall 15 years ago
  
  Thanks keyaziz. This might be my best option so my full-time job doesn't take over my life in a few months.
  
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imaddict

15 years ago

As Chris (and others) mentioned:

Got mouths to feed? (Y/N)
Got savings to last a few months (Y/N)
Work good under pressure? (Y/N)

If your answers are N, Y, Y... then you should give some serious thought to going full-time sooner than later. It's amazing what you can accomplish when you've 'got a gun to your head' and you're not the type of person who folds under pressure.

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Kevin Marshall

15 years ago

Thanks Dennis. I am going to send you a PM.

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nicholasb

15 years ago

as long as you are making a comfortable amount with at least 3 months worth of bills saved.

buying your own health insurance isn't that expensive, I pay around 100 dollars a month.

As long as you are making the same as your are at your job I say go for it.

you will have more time to make money, just remember you wont have anyone sticking a gun up your ass to keep you working.

so if you feel you are ready to push your self with out the help of a jerk off boss then go for it

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traces2757

15 years ago

Originally Posted by nicholasb

as long as you are making a comfortable amount with at least 3 months worth of bills saved.

buying your own health insurance isn't that expensive, I pay around 100 dollars a month.

As long as you are making the same as your are at your job I say go for it.

you will have more time to make money, just remember you wont have anyone sticking a gun up your ass to keep you working.

so if you feel you are ready to push your self with out the help of a jerk off boss then go for it

Okay I would really like to know where you are getting health insurance that cheap! I don't have health insurance because I haven't been able to find a decent one that I can afford. Could you PM me and tell me which one you are signed up with? I'd appreciate it!

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Kevin Marshall

15 years ago

Got mouths to feed? (Y/N) Y and N. My wife and I. No kids yet.
Got savings to last a few months (Y/N) Y and N. Only two months maybe. If I wait until I get my tax return in 2009, I would have about 4 months of savings. I like the suggestion from keyaziz where I would take a lesser paying job without overtime so I have more time to market my business.
Work good under pressure? (Y/N) Y. I work great under pressure.

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Steven Wagenheim 15 years ago

As others have said, only you can answer that question. All depends on
your comfort level and how you feel about flying on the seat of your pants.

Me? I was lucky. I lost my job and was too old to get hired again by anybody.

So I had no choice but to try to make it on my own. And let me tell you, it
was one long hard ride to get to where I am. Before I even hit the Internet,
I tried many other things...none of them worked for me.

Sometimes I think you have to really want something bad enough to make it
work because when I first started online, I was a total disaster area. I
couldn't get out of my own way.

Today...much different story.

I'm sure you'll figure out what's the right thing for you to do.
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Lance K

15 years ago

Originally Posted by kevinmarshall80

Got mouths to feed? (Y/N) Y and N. My wife and I. No kids yet.
Got savings to last a few months (Y/N) Y and N. Only two months maybe. If I wait until I get my tax return in 2009, I would have about 4 months of savings. I like the suggestion from keyaziz where I would take a lesser paying job without overtime so I have more time to market my business.
Work good under pressure? (Y/N) Y. I work great under pressure.

Given the above responses, I say GO FOR IT.

If things get tight, you can always take on some freelance gigs writing articles.

Actually, you could split your day. Spend half of it doing laser focused money generating activities for your business and spend the other half writing for others (trade time for money). Split it however you want. It doesn't have to be half and half.

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Kevin Marshall

15 years ago

Steven, you always have such great advice! I have read many of your posts and you have helped me in the past, and I just wanted to thank for all of your contributions to this site!

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TLTheLiberator

15 years ago

Take your time and wait until you've made as much money as you make on your job - for at least 9 months in a row and you're 100% sure you know what you're doing and can produce income on demand.

Then you'll need another 33% above your salary to cover your benefits etc.

There is no rush.

Keep your job for the time being as it will fund your business.

TL

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Kyle Tully 15 years ago

Monday mornings are usually a good time to quit

But it's a personal decision.

Income needs, family responsibilities and risk tolerance all have to come into your decision.

I know a few people who either quit or were fired and literally replaced their income in weeks using IM, and I know others who have failed doing the exact same thing.
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derrickp

15 years ago

As others have said only you can decide. Personally I have came full circle.

While in college I worked part time at a local home improvement store, I also made a full time income on the internet. I was putting in 60+ hours a week and loved every minute of it.

20 hours at a Job and 40 hours at my business

I then go let go(along with a bunch of other people) from the 20 hour a week job and was 40 hours a week at my business. I hated every minute of it. I didn't get out of the house enough and was miserable overall.

So now I work about 40 hours per week and put in about 10 hours on my business. I earn less that I did when I was putting in more hours online but overall it is a balance that works for me and I still have benefits and really enjoy the social aspect of going to work.

Maybe someday that will change but overall I think it just goes to prove you must do what makes you happy.

One other thing that I have been focusing on is becoming debt free, currently I have 0 debt other than my house and I figure I should have that paid off within the next three years. Becoming debt free can do wonders for being able to take the leap without worries since your income can move up or down without really hurting you.

Derrick

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CurtisN

15 years ago

I'm in 2nd year university, so I can't retire because I don't have a full-time job yet (unless you count 'student'). I think I can still offer some input though.

I don't know where I read it, and maybe it's a bunch of crap, but I read somewhere to make a magic number for yourself: the monthly income you want to be able to quit your job. The number I want for myself during my U years is $1000/month. When I graduate, I expect to be able to grow my business to the next magic number of $3000/month (for starters, of course).

My cousin is actually thinking about quitting his job in a couple months and doing forex full-time (2 hours per day), but I told him that it would be a big risk to retire before having the amount of capital necessary to fall back on in case he hit some snags on the way. I would personally not quit if I was not already making an income that could support me and my future family.

Good luck,
Curtis

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Allen Graves

15 years ago

Simple - when you have no debt.

Allen Graves

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TheMagicShow

15 years ago

You should never quit your job unless your internet business can bring you guaranteed monthly income, your current job is a guaranteed paycheck, you need to wait for awhile and keep making money from your internet business on a consistant basis, and only then you can make that choice to become a full time marketer.

Best thing to do is to keep your job and keep running your internet business on the side and grow it to the point where you make much more than your current job, this needs to go on for a few months and then you can possibly call it quits at your current job, play it safe.

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Prashaant

15 years ago

The right time is NOW! Provided ur debt free! You will be up against the wall for a while to make ends meet, but if you can generate $40 in a day... you CAN generate $200/day. I quit my job with Oracle in April of 2007.. after bout 2 years of IM - didnt make much.. maybe about 20-$30/day.. for me that translates to rupees, so it's not too bad. And yes, I had a mortgage and car to pay for every month. Now i think that I should have quit my job much before. But that's just me... you need to weigh your "risks" before u make a decision.... If you don't have any debt to be paid off.. quit as soon as ur able to pay for food and basic stuff..
Think about this.. what if (God forbid!) you were fired? Would IM be the first place you would look at for an immediate income?
And Yes.. follow the instructions on this post.. it's helped me tons! Many Many Thanks to Kneb - The Warrior Forum - From $0 to $500K in 2007... Step by step

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Kevin Marshall

15 years ago

Originally Posted by woracal

The right time is NOW! Provided ur debt free! You will be up against the wall for a while to make ends meet, but if you can generate $40 in a day... you CAN generate $200/day. I quit my job with Oracle in April of 2007.. after bout 2 years of IM - didnt make much.. maybe about 20-$30/day.. for me that translates to rupees, so it's not too bad. And yes, I had a mortgage and car to pay for every month. Now i think that I should have quit my job much before. But that's just me... you need to weigh your "risks" before u make a decision.... If you don't have any debt to be paid off.. quit as soon as ur able to pay for food and basic stuff..
Think about this.. what if (God forbid!) you were fired? Would IM be the first place you would look at for an immediate income?
And Yes.. follow the instructions on this post.. it's helped me tons! Many Many Thanks to Kneb - The Warrior Forum - From $0 to $500K in 2007... Step by step

Ironically, I started checking out Internet Marketing when I got fired from a previous sales job. I was drawing unemployment until October 10th when I started a new job. If I lost my job tomorrow, I would probably start posting new articles like crazy and trying to generate a significant income online immediately. I would definitely do this before even looking for another job.

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lakshaybehl

15 years ago

I quit my job as soon as I knew that IM is where I had to be. Not that that was a very wise desicion, but overall I am happy.

-Lakshay

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Dennis Miedema

15 years ago

Came back to this thread again and realized something: many of the things I've accomplished in life (while I'm still a young guy) were because I refused to give in to the "comfort zone"...which is staying in the situation you know and trust and HAVE been in most of your life because it feels safe, because it's comfortable.

Most people FEAR change, and would rather do what they're doing now (even if it's BAD for them) then change...because we all fear the unknown, and doing things you've never done before is uncomfortable which is why you have a tendency to avoid doing different things.

My perfect way out: burning all bridges behind me. I had doubts too, I had second thoughts, I had fears...and when I still had a bridge to cross so I could be in the old, comfortable but unhappy zone? I would hide on that side, but when I burned all bridges and risked everything on a single turn of the wheel? There was no way back, this is pure motivation because then it's not I "can" or "should" or "could" make it...but I HAVE to make it or there'll be consequences...it makes you put in twice the effort than you put in normally.

It's all in a self-help book that changed my life, Napoleon Hill - Think & Grow Rich, you can download it for free on Scribd (just Google for it).

Enjoy!

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nuthowz

15 years ago

I am currently Earning a decent income via the Internet. I am not sure what sort of ventures your involved in. First be sure that what ever it is,that the Income is re-occurring.

I still have a 9 to 5 right at the moment. I simply use it for the benefits package. It's a much cheaper way to go for a family package ; ).

However it does not consume all my time as it seems that your is becoming over burdening and will soon burn you out. I will suggest that you learn as much as you can before venturing out on your own. This will save you time and MONEY.

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angela99

15 years ago

Should I consider quitting my job now and go full time into this??? I really think I will be successful if I go into this full-time. I am extremely , disiplined, and I know I won't screw around if I take the plunge into this business now.

Yes, if you have:

* The agreement of the other members of your household (few people "get" IM. If your spouse or partner doesn't, you'll be accused of wasting time "playing" on the computer)

* At least six months' living expenses saved, plus a few thousand dollars extra, as a cushion, and as startup capital

This is advice I'd give to anyone, at any time, about quitting their day job, even when economic conditions are great. In the current economic climate, it's even more important. That said, I'm completely optimistic about the global economy.

However, what's fun and exciting as an avocation can rapidly become drudgery when you HAVE TO do it to pay the bills.

Here's a tip: you're writing articles, for which there's a huge demand online. Before you quit your day job, start an IM article writing service, and get 10 steady clients who keep you on a retainer.

With 10 regular clients, and the occasional article WSO you can keep the wolf from the door, and can quit your day job with confidence.

Since you only started IM in October, there's a lot to learn -- and you can only learn it from experience, over time. For example, if you're doing affiliate marketing, you need time to see how your articles rank, and to practice improving their rankings.

I wish you much success. You're enthusiastic, and that's a key ingredient for doing well at IM.

Cheers

Angela

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Mark McClure 15 years ago

@Kevin - you're doing the right thing by asking for advice/comments but apply reasonable caution before acting on any of it. There are some good people here who've successfully done what you're looking to do but remember that "your mileage may vary".

With that disclaimer, I'll give you my 10 yen worth:

1- Do you have a written plan of what you want to do with your career/life over the next 5 years or so? If "no" then I have to do my best John Mcenroe impression here: "WTF? You CANNOT be serious!!!" :-)

(Check out "The One Page Business Plan" from Jim Horan. He's got a great site and the book/CD's on Amazon.com. There are also Warriors here offering biz plan services though I've not used them yet. One Welsh lass even has her Xmas special running now ;-)

2- Have you used a SWOT analysis on:
a) your current job/career?
b) your proposed IM career?
Do that for each separately and also see how things stack up if you were to combine them (e.g. p/t job plus your IM)
SWOT analysis - Wikipedia, the free encyclopedia

3- Have you discussed this with your better half - I mean, the reality of going from stable income 'X' with benefits to probable future income '0 + y', with 'reduced' benefits? It's a lot easier to make this work and keep a relationship intact if you can show a track record of earning cash (y) from the 'net before you exit the job. Remember that the reality (however tantalizing) of y becoming big Y etc is still in the probable future.

4- This sounds trite but is a problem for some people I've worked with. Will you be working at home if you start full-time IM? Is your better half OK with this? (The reason I mention it is that there's normally little problem when the IM is bringing home the bacon - but if it's not, especially in the start up phase, this can test the limits of the other person's patience.)

Give some thought to the logistics of a 'plan B' work location if possible - like a nearby rented office or wi-fi coffee shop. You may not need it but if you do, you're covered.

As ever, do your own research and make up your own mind.
I wish you much good fortune in whatever you decide.
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apollocreed

15 years ago

I echo what most of the wise warriors have said.

Personally I do not think you really have a solid business if your source of income is adsense and is dependent on you posting articles. I was in a similar situation to you several years back and quit my job. Oddly I did not become 4 times more productive and nor did I make 4x more.

Unless you can easily find a new job later on, do not quit your current job yet. When you are truly ready you will have no need to ask the warrior forum.

Apollo

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JOhnny Depth

15 years ago

The right time to quit your job i when you are making more than enough from being a webmaster.

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Floyd Fisher

15 years ago

Try seeing if you can bank 3 months of paychecks, without touching them.

If you can do that, it's time to leave.

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07knev

15 years ago

full time marketing can be taken up only if you have financial freedom , untill then you need to balance both

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Arine Mark

15 years ago

I quit my dayjob after this:
- have a working system (proven to make profit)
- have at least 3 month saving
Quit and work like hell for 3 months. Just rinse repeat and scale it up. I'm not researching / exploring new system. It works.

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Kevin Marshall

15 years ago

Well it looks like I am not quitting my day job just yet! The suggestions here have been great and it gives me a lot of things to think about. I have a lot of ideas in my head of what I am planning to do, but I haven't formally written the business plan. My wife and I have a substantial amount of debt to pay off right now, which is one of the major reasons I wanted to get into Internet Marketing.

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Full-Time Marketers- When Is The Right Moment to Quit My Job?

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