How Much Money Should You Have In Real Savings Before Running An eBook Publishing Company Full Time?
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I'm sometimes asked how much money a person should have in the bank before they quit their jobs and venture off to run their eBook publishing company on a full-time basis. This is an excellent question for two reasons. First, it demonstrates that the individual asking the question is serious about one day being able to run a company of their own without the support of a full-time job. It also strongly suggests that the individual who is asking the question is rooted in the world of reality. Look, running a business of any kind carries some risks. And when you're talking about quitting your full-time job, that's probably the biggest risk of all.
Here are the guidelines that I recommend. Start by calculating how much you make in an average year at your job. This might be $17,500 or it might be $100,000. Whatever it is, write the number down. At a bare minimum, you should have at least 6 months worth of your salary put away in savings. So in the case of someone earning $17,500 per year, that means having $8,750 in saving. For someone earning $100,000 per year, it means having at least $50,000 in savings. You get the idea.
The reason you want to have this amount of money put away in savings is because you don't want to have the pressure hanging over you of potentially missing a mortgage/rent payment just because you had a bad month with your business. The truth is, this money is a safety net. You shouldn't be quitting your job unless you're making at least 30% more per month with your eBook publishing business than you do at your job.
For more FREE information about how to shortcut your way to financial success by selling eBooks with your own home based eBook publishing business, visit the eBook Secrets website by visiting my site. You'll discover a fantastic resource that I've put together for you that will help you launch and grow a profitable home based eBook publishing business WITHOUT having to spend a lot of money and waste a bunch of time. You can literally get started today by visiting my eBook Secrets website by clicking on this link.
Yours For eBook Profits,
Ethan Evans
--
On The Web:
eBookSecrets.com
Here are the guidelines that I recommend. Start by calculating how much you make in an average year at your job. This might be $17,500 or it might be $100,000. Whatever it is, write the number down. At a bare minimum, you should have at least 6 months worth of your salary put away in savings. So in the case of someone earning $17,500 per year, that means having $8,750 in saving. For someone earning $100,000 per year, it means having at least $50,000 in savings. You get the idea.
The reason you want to have this amount of money put away in savings is because you don't want to have the pressure hanging over you of potentially missing a mortgage/rent payment just because you had a bad month with your business. The truth is, this money is a safety net. You shouldn't be quitting your job unless you're making at least 30% more per month with your eBook publishing business than you do at your job.
For more FREE information about how to shortcut your way to financial success by selling eBooks with your own home based eBook publishing business, visit the eBook Secrets website by visiting my site. You'll discover a fantastic resource that I've put together for you that will help you launch and grow a profitable home based eBook publishing business WITHOUT having to spend a lot of money and waste a bunch of time. You can literally get started today by visiting my eBook Secrets website by clicking on this link.
Yours For eBook Profits,
Ethan Evans
--
On The Web:
eBookSecrets.com