How did you quit your job to do IM full time?

18 replies
I love hearing about personal success stories..

So for the folks who successfully quit their job to do IM full time, I would love to hear how you made the transition from Corporate to being an Online Entrepreneur.

When exactly did you decide that it was safe for you to quit your job to do IM full time?
When your monthly earning exceeded what you were earning in your job?

I have a plan to quit my full time job (pretty decent pay and health insurance all covered) to do this IM thing full time. I've put in a lot of effort, time and money into building what I have now. It's not big but I am getting around 1/5th of what I earn from my corporate job and I am continuing to scale up.

I am thinking when I hit 2x what I earn per month I will "transition" to doing this full time.

Could you tell me about your experiences? Pro's and Cons? And whether you were happy with the choice you had made.
Whether you look back and think.. I should have done this sooner OR maybe I should have held onto my corporate job a little longer.. etc.

Thanks so much!
#full #job #quit #time
  • Profile picture of the author Van Dam
    It was always something that I did in the background. I was making enough to call it ''extra cash''. I knew I could scale it up but with my day (well really night) job. I felt like I was making enough and at least getting out and meeting people.

    As time went on, I met a girl from another country who was studying in my country, fell in love but the only problem was that she had plans to return home after her studies so guess what? I followed her, scaled up my online activities and make bank every day. I'm making more than I ever did working in my home country.

    You seem very sensible in that you aren't running away from your job until you hit a certain point with your earnings. You have to look at the real picture as well and think is the income going to be consistent, can it last, or will you try it out for a few months and then be rushing back to the corporate world?

    As for pro's and con's. From my experience I do miss the whole going into an office full of people and talking to them face to face as opposed to a Whatsapp or Facebook message that they have now become but it is still comforting to make more money than that job from my bed, living room etc.

    I am happy with the choice I made. It worked out for me and honestly there isn't a dark cloud in the foreseeable future. Life is all about risks.

    Best of luck with your choice. If I could say one thing, have an exit plan in case things don't work out the way you want in the future.
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  • Profile picture of the author Michael Meaney
    I quit my high salary SEO career, decided to run at it with everything I had.. wooohooo!

    ...and fell flat on my face.

    D'oh.

    (We had no 'how-to' guides back then, no blueprints.. no proven formulas etc)

    Myself, and others figured it out for ourselves..
    But fast forward waaaay over decade later.. it was the best decision I ever made..
    ...eventually.. after much confusion and struggle.

    Don't do it my way, even with all the help and support available, it was dumb and still is..

    If you enjoy having the weekend off, going on holidays etc, then don't jump into this yet..
    you won't get a proper day off for a while.
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  • Profile picture of the author DRP
    I still work in the corporate level and I'm never gonna leave. Why would I? I make more than 99% of people here, guaranteed! I get to travel and work remotely too!

    I also make more than I did when I was a small business owner. That's why my bullshit detector is top notch. I know the realities on both sides of the equation.

    Owning a business isn't what it's cracked up to be...and a job isn't bad at all. Most people have a childish fantasy about making money online...and a naive hatred for a "job".
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    I'd rather tell you an ugly truth than a pretty lie.
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  • Profile picture of the author StavrosSc
    Without getting into all the details, what I did along with a business associate was begin testing a variety of MMO such as surveys, fooling around with Adwords, and just opting into any gurus marketing e-list we could find in the attempt to learn the "secret" of making money on the internet lol. Well, fast forward a bunch of years later and about 20 grand in credit card debt each and wouldn't you know it, we are someone starting to make some money online )
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  • Profile picture of the author 3wCorner
    It started as a hobby. And then i decided I don't want to have officemates who back stab me so I quit my job. Turns out my hobby guide me in my career right now.
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  • Profile picture of the author Steve B
    Originally Posted by John Cho View Post

    I am thinking when I hit 2x what I earn per month I will "transition" to doing this full time.

    Good plan . . . but also . . .

    If you have non-salary perks at your current employment (health insurance, paid holidays, sick leave, annual vacation, bonuses, overtime, retirement benefits, etc) - be sure to include the cost of losing those benefits when you leave your job. They can add up to a significant amount of money that you are going to "lose" when you cut the ties to your job.

    Also, I would suggest you make the amount you're talking about (2X what you currently earn) for a 12-month consecutive period so that you can prove or validate your ability to withstand the up and down months you'll have in your new business.

    Good luck to you,

    Steve
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  • Profile picture of the author MValmont
    Took me a few months after I started Kindle Publishing to quit my job. It is probably the best decision I have ever made.
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  • Profile picture of the author George Schwab
    I actually didnt quit any job, since i never had one, except a temporary in, and after college

    what happened was i fired my last offline customer after he started hassling me.
    Did i had any plans at that time? No, i jumped into cold water. Of course in the back of my
    head i knew i wanted to go online, but not sure yet in what market.

    That clicked after reading online marketing reports. Found something that was taking off, and was a good fit as well. The rest is history, because from first targeted website online to actual first sale it was just a few weeks time. At that time i was fascinated with the search engines at the time, so i learned how to put our site into their results. And got a little help from a girl working at Yahoo - she created a new category for our site in their directory. Call it "corporate acceptance of an innovative new website concept at the time". So yes, of course I never looked back, offline or jobs was 'done' back then, except a little "here and there" to help out friends or associates. Online sales came in daily now, by email notification at breakfast time. Convenient! It was based on 3 search engines, a little salute to them: Together we built a house. How long does it take when you're in a job? Exactly, much longer, with a mortgage. I never had one of those.
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  • Profile picture of the author Allen Chandler
    I was so fed up with my low paying job that I decided that I just quit with the money I had saved up and went to ham on this whole 'marketing thing'.

    Next thing I know, I'm following courses left and right, trying to figure out what works and what doesn't. I played around with adsense, affiliate marketing and the likes... but couldn't make anything decent.

    Finally, I decided it was time to start my own ecommerce store and that's when everything came together. I'm more of a physical guy, so to be able to see and touch my products was a big plus to me. I didn't have to convince anyone to buy my products... because they were looking for them.

    I remember freaking out at my first sale... and then my first 100 sale day. Now if I get less than 20 sales per day, something is wrong. I won't say it was easy but with good products, proper staff and good plan, you can do it.
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  • Profile picture of the author aizaku
    i still teach no more than 6 hours a week, but that's because I love teaching

    Yea, working for yourself is scary.. you always worry if your traffic will stop converting... especially if you're in a somewhat seasonal business... between Halloween and new years my site is not as busy as it would be normally,,,

    make sure you save up before you let go of your day job and know you're numbers...

    best of luck,
    Ike Paz
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  • Profile picture of the author Devilfish168
    Use some savings for investment, be it stocks , or even Coins , yea like bitcoins etc coins because coins does have their value there

    beside IM stuffs.
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  • Profile picture of the author silveroaks
    i would say that the grass is always greener on the other side.
    earning money online is not a piece of cake. one should make this decision after a lot of consideration.
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  • Profile picture of the author gingerninjas
    Everyone is different, however in my experience I went back to a fairly cushy 9 to 5 corporate marketing position after I had my first child. Long story short, my boss was a douche and didn’t have the flexibility for me and my new family, so I decided to ramp up the small business I had been running after hours and take a leap of faith.

    In order to do this I set up the following:

    - Met with my accountant and figured out what I REALLY needed to earn and also set up proper business accounts, spoke with the tax department and also made plans for company tax.

    - Sought legal support and also set up insurances for my business and my income, so that in the event that everything went pear shaped I had protection.

    - Once I set up my accounting systems, CRM, purchased a computer and also started setting up structured digital marketing communications so that I could alert the people I had been working with as clients, I went about building my pipeline.

    - I formulated a price list or at least a services menu so I could determine what I wanted to offer on a full time basis and what I would need to charge, as before I wasn’t so concerned with what the rate was as I have a solid income from my work.

    - During this time I also went about speaking with the people I had been doing work for and locking in agreements for ongoing monthly work so I had an idea of what work I could rely on to pay the bills.

    - Set up accounts on Freelance sites to bring in some extra cash


    Up to this point it took a few weeks, meanwhile I am still working at this business.

    Once I had all my ducks in a row I then quit my job and gave 4 weeks notice.

    Basically after this I worked my tail off over the next four weeks to bring in as much money as I could to stash away ahead of my paycheck drying up.

    While some weeks it was scary early on the presence of freelance work sites were a godsend in the beginning and allowed me to bring in work quickly when there were gaps in my workload.

    What I have learnt:

    PROS
    - You are your own boss and that freedom is amazing â€" no more working for people I don’t respect.
    - You have complete control to earn as much (or as little) as you like and can work Monday to Friday or Wednesday to Sunday â€" what ever suits you. I love this flexibility
    - You can get more out of life as you don’t have to sit in a dreary office all day. I love taking a walk in the morning or doing what ever I do on any particular day
    - I never have to ask my boss for annual leave, if I feel like going on a holiday I just pack my laptop and make sure there is wifi and I am off and away

    CONS
    - It’s a little lonely â€" office Christmas party the first year of my business was a party of one â€" that said, I have since created a group of freelancers and we go out on a ‘loners’ Xmas party and do joint functions so that we can socialise and do the normal office functions that we miss out on as freelancers
    - People don’t always pay you invoices on time â€" it can be feast or famine â€" so always have cash in reserve as it can take 1 day for people to pay and bill and sometimes up to 60 days.
    - Be careful of your pricing, I have undersold myself in the past and ended up working for pennies for projects, there really isn’t much you can do about this when it happens so be aware of it before it starts.

    I honestly wouldn’t work any other way now, I love the way I work and being my own boss is incredible. It can be hard at times however it I really is the way the world is heading and I’m excited about the future.
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  • Profile picture of the author maxsi
    I did it 14+ years ago....
    in fact I started to operate my internet business in 1999
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  • Profile picture of the author hynds
    I quitted when I have the revenue from IM as the same (1x) with my salary from my company.
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  • Profile picture of the author writeaway
    The Web 1.0 company I worked for closed down due to the great Dot Com Bust of 2000/2001

    By the time I got another job, I was in a hurry to quit because I already figured out how to make money online through email sign up programs. Back in 2001, people would click on anything!
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  • Profile picture of the author AronParker
    I was in the corporate world for a while, making good money of course but zero time freedom.

    I wanted to make online and everywhere I went there were people pitching me their BS Mlm Programs.

    I joined all of them and went "All In" in this company for $5,000 and then joined another company that claims to pay high ticket commissions at $10k or something.

    At the end of 90 days, I had lost all my money and also peace of mind.

    These companies are very hard to promote because of the 100's of people in them already promoting it, I wanted an easier way to make money which was when I saw a Facebook Ad by a guy named Ace Reddy or something and decided to get started with this idea of making money promoting other people's offers.

    The business model was called "CPA/Affiliate Marketing", I wanted to give it a try!

    So I ended up joining this guys mastermind with all the cash I had in my bank at that time and I finally ended up cracking the online success code.

    I started averaging $300-$500/day and decided to quit my job (which I did) and started hustling hard until I reached a point where I was making $800 - $1,000/ day.

    Which was when I started travelling and living life.

    If you want my advice on what you should do now, DON'T QUIT YOUR JOB - Make Some Money So You Can Actually Invest In A Mastermind + Traffic so you can crush it online!

    If you quit your Job, you'll stop your income source which isn't good.

    Quit your job once you can replace it.
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  • Profile picture of the author madstan
    I had a magic number (savings from my earnings) in my head.
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