Don't give up your day job!!!

by KarlWarren 15 replies
There have been a number of threads recently along the lines of:

- You will fail
- Why you will fail
- Give up
- IM might not be for you

There are also a lot of people who are in debt, sometimes crippling debt, and think that IM is an easy way out.

There are some who hate the idea of a job so much that they insist on being technically unemployed, while trying to build a business from scratch - allowing the debts to compound.

There are some lucky warriors, myself included, who have been able to give up their normal job and live on the proceeds of their online income.

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I'd like to offer some tips to those who want to quit their normal job and pursue IM as a full time career...

1) Think about the decision first...

a) Do you have enough money in the bank to cover your bills for x months?

- it can take time to grow a business, you might not start to see income for a few months. If you don't have enough working capital to live on, you will probably find it difficult to focus on the tasks necessary to successfully grow your business. Impending bills can help to motivate you, but they can also be a hindrance - making you look for the 'easy money' opportunities that won't help you grow your business.

b) Can you do both?

- what is stopping you from building your income while still working? A lot of people claim that they don't have enough time, assuming that 'keeping busy' equates to working. If you spend just ONE HOUR per day dedicated to growing your business, you're probably doing more than 95% of anyone else involved in IM.

- what is stopping you from cutting down your working hours? If you can afford to live off the income of a part-time job, you will free up a lot of time to devote to growing your business. If your current job doesn't allow for this, why not look for another? This is one situation where ALL or NOTHING, isn't necessarily the best option.

c) Why leave?

- what is it, specifically, that compels you to leave your job? Do you feel insecure? Do you dislike the management? Do you feel it is your right to work for yourself? At times where you're desperate to leave your job, I'd urge you to let your head rule your heart... I'm not saying "stay in your job forever" but consider the alternatives, focus on saving your earnings so that you have some working capital. Emotional decisions can be costly if they're not balanced with common sense. Sure, there are people who think "screw it, I'll just do it now!" but if you don't have the immediate success that you need, in order to stay afloat financially, what then?

2) Why I.M.?

What is it about the idea of being an Internet Marketer that makes you want to do it?

- the money?
- the lifestyle?
- the freedom?

I won't bore you with statistics, but I'll put money on the fact that most people:

- don't earn a full time income online
- sit hunched over their computer for more than 8 hours per day
- can't afford to do the things they want

There are ways to resolve ALL of the above, but unless you have a clear plan, goals and the determination to see them through, despite being tired and broke, you might as well be an employee who:

- works 8 hours a day
- can afford to eat, live and have fun

Don't get me wrong, I've been there and I'm still FAR from my goals, I know what it takes... I just don't like to see people jumping in at the deep end, leaving their job and ending up in debt, unable to pay the bills when there are other alternatives.

So, my parting message:

If you have the choice, (and you probably do)... don't give up your day job... (unless you can afford to)... grow your business first and hit the ground running.

If you can find the determination to grow your business while working a full time job, you have most of what it takes to succeed.
#main internet marketing discussion forum #day #give #job
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  • Profile picture of the author infodude
    Karl - Excellent Post!

    You hit the nail right on the head, don't quit your job until your online income is 2 times your income today!

    remember you'll need to be paying your own insurance when your the boss!!
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  • Profile picture of the author Chris Hunter
    Originally Posted by KarlWarren View Post

    1) Think about the decision first...

    a) Do you have enough money in the bank to cover your bills for x months?

    - it can take time to grow a business, you might not start to see income for a few months. If you don't have enough working capital to live on, you will probably find it difficult to focus on the tasks necessary to successfully grow your business. Impending bills can help to motivate you, but they can also be a hindrance - making you look for the 'easy money' opportunities that won't help you grow your business.
    Karl,

    Great post and I just wanted to add that, if a person is able to, why not take any profit from your online ventures and PAY OFF some bills? Get rid of the credit card debt, small loans, check cashing loans, whatever, as soon as possible.

    This will help to lessen the monthly amount that you'll need to survive on and even relieve stress as you make your transition to working full time online.
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    Ok, sure. You can follow me on Twitter - http://twitter.com/Chris_Hunter ;)

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    • Profile picture of the author Kevin Riley
      Hmmm. I once did dinner theater as a singing cowboy, and was told "Don't give up your day job!"

      It was very good advice.
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      • Profile picture of the author Peter Bestel
        Good advice Karl

        If you can manage it, having a day job that runs alongside your new business is ideal. Whilst it is possible to start earning reasonable money from IM very quickly, it's probably not likely. It's great to have a safety net of a 'steady' income.

        I can appreciate why some people pack in their jobs, quite often being seduced by what having your own business can do for you. But they end up working for a boss that they can't fire.

        Self-employement is NOT for everyone. Fantastic though it might be for me, and maybe you, for others they're just not cut out for it. But I know better than to try and tell people this, it's one of those life lessons that people need to experience - and it might cost them a lot more than they bargained for.

        Peter
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    • Profile picture of the author AndrewCavanagh
      Originally Posted by Chris Hunter View Post

      Karl,
      if a person is able to, why not take any profit from your online ventures and PAY OFF some bills? Get rid of the credit card debt, small loans, check cashing loans, whatever, as soon as possible.

      This will help to lessen the monthly amount that you'll need to survive on and even relieve stress as you make your transition to working full time online.
      Great advice. Also if you're working full time seriously consider going part time or casual before you completely quit your job.

      Even a very small regular income you can count on can reduce your stress levels significantly when you're working on increasing and stabilizing your online income.

      Kindest regards,
      Andrew Cavanagh

      P.S. Having said all that sensible stuff it's really not what I did.

      I just went full on...sink or swim. But I really don't recommend that for people who haven't run their own businesses before.
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      • Profile picture of the author KarlWarren
        Originally Posted by AndrewCavanagh View Post

        P.S. Having said all that sensible stuff it's really not what I did.

        I just went full on...sink or swim. But I really don't recommend that for people who haven't run their own businesses before.
        Me too... anyone got a snorkel?
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        • Profile picture of the author Keith Boisvert
          Originally Posted by KarlWarren View Post

          Me too... anyone got a snorkel?

          I jumped in with...one foot.

          I still have a part time job on an as needed or wanted basis working for an electrician. I use that money for things like vacations, investments, and unexpected expenses.

          My "marketing" income goes towards bills and money that my job was paying for previously.

          BUT, I have no debt. I have one credit card that is under $100 and is paid off each month. So aside from living expenses, I had paid off all of my debt before going full time in "IM".

          Keith
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        • Profile picture of the author kazmagic
          This is definitely wise advice.

          I am new to Internet Marketing and in my online travels I've come to realise that many people expect too much, too soon and give working online a bad name. This is, of course, largely due to the hype of many advertising campaigns.

          I definitely wont be giving up my day job for some time yet, no doubt.

          Karen
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          • Profile picture of the author Marian Berghes
            useful post Karl but i thought i should say something too. What you said is mainly for let's say..more economically developed countries, like USA or Uk, Germany etc... where the paychecks are 3-4k $ per month or more.
            But when it comes to low-medium economically developed countries, like mine (Romania), i think it's fairly easy to earn a decent living online.
            Of course you still have to work, and to know what your doing, but i could live decent...with around 500$ per month, i would have money to pay my rent, get food and still go out in clubs and stuff... If you have some skills like design, writing etc...you could make those money from freelancing, you don't even need a business.
            And when it comes to selling stuff, i believe, that with the right mind attitude and with the right methods you could start earning that kind of money in 2-3 months maybe less if you buy a good step-by-step program, or you really know what your doing.
            To me personally staying in this forum helped me a lot, i haven't made one sale in the last few days, and yesterday made 3 sales on my product, 1 sale on a affiliate product that i was promoting. and thats over 100$ in around a hour, i believe i can reach 500$+ this month, but it all depends and how much i work and how good i work.
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            • Profile picture of the author KarlWarren
              Rhypo,

              what you say is quite interesting...

              the cost of living here is fairly high - what is the average rent on a flat/apartment where you are?

              And is PayPal an option for receiving payments when you live in Romania?
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            • Profile picture of the author ahuddy
              I need to move to Romania apparently. But it seems like it would be harder to sell in Romania compared to U.S.
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              • Profile picture of the author KarlWarren
                Originally Posted by ahuddy View Post

                I need to move to Romania apparently. But it seems like it would be harder to sell in Romania compared to U.S.
                Why?

                Barriers are only psychological... when you're online, geography is subjective.
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              • Profile picture of the author Terry Hatfield
                Don't give up your day job unless your ready to give it up.

                What do I mean by ready?

                1. You know how to make some money online.
                2. You already have made money online.
                3. You have the discipline to self manage yourself and your time when you are sitting at home in front of the computer and the urge to surf the net or read the forums is calling out your name.

                Most people don't meet these conditions now do they?

                Terry
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              • Profile picture of the author Marian Berghes
                well ill talk about my type of flat, witch has 3 rooms (main room,2 bedrooms) plus kitchen and bathroom, nothing fancy, you will have it at around 500-600 euros per month, but you can find cheaper..like i did, at 400 euro per month, but since i am a student, i have mates that stay with me, 4 to be more exact...so we live 5 people in this flat, that comes to around 80 euro per month, with the other costs like electricity and stuff...i come to 100 euro per month. and basically, for me to live decent i would need 300 euros per month to spend on food and stuff, its kinda cheap compared to US and stuff.
                And yes i receive my payments trough paypal, tho i cant do direct bank transfers, only paypal>debitcard transfers...witch kinda sucks when i will start to make more money, cus we all know that paypal locks accounts pretty esy...so know im trying to find a method so i can receive checks at a local bank.

                As for selling in romania....its tough...i don't intend to sell 1 product on the romanian market, romanians in generally don't trust this internet money stuff...there are very few that actually make good money online..plus that romania is one of the top countries in terms of hacking and piracy, everyone wants stuff for free, you could sell stuff..but the marketing principles that you apply in us dont apply in romania...ill tell you that... maybe you heard of these 2 cases:
                1. 4 kids were selling planes (stuff like learjet size planes) on internet, they didnt have planes of course...but they charge 100k+$ for 1, and they send a box with a t-shirt or something in exchange...they got caught eventually
                2. and the mother of all romanian hackers.....a guy that managed to take 1 cent from every bank account in the world....he managed to bring down a whole network of banks when those money started to come into his account. and he was only 17 years old...i believe hes working at the Pentagon now or something...i can't remember

                Theres no problem if you want to move into romania, ppl are generally nice, country is beautiful its just the laws that get in your way... there are some laws that are pretty stupid...but if you want you can make a good living in romania

                P.S: NO, we don't have vampires , and Vlad the impaler was not a vampire
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