The FEAR of going FULL TIME

90 replies
So I've been at IM for just over a year now while working a 9-5 job. I've worked about 7-8 hours a week building up a couple of niche Amazon sites in my spare time and make roughly 500 a month in completely passive income.

My fiance and I have just had our first child, a beautiful baby boy who means the world to me and I want to do anything I can to build a lifestyle that will allow me to spend more time with him. So I'm seriously contemplating quitting my job and going full time with IM.

My fiance no longer works at all but we have enough money saved up for us to live off for about 7 months, or more likely a year if my fiance works a couple of days a week which we have discussed.

The catch is that within that time frame I need to go from $500 a month to at least $4000 a month.

I feel confident that if I can make 500 a month in my first year with all the mistakes I made and what little time I had to invest that I can probably get to $4000 a month within a year but fear is still holding me back.

I'd really like to hear from people who took the jump from regular 9-5 to full time IM.

Were you scared?
What held you back?
What finally made you take the plunge?
Did you wait until your IM income had equaled or overtaken your regular income or did you just make a leap of faith?

I'd also like to hear anyone else's opinions or thoughts. Is this a realistic target or am I being too optimistic?
#fear #full #time
  • Profile picture of the author jamesrich1
    Keep working your job until you hit your $4,000 a month and then quit your job. Many stories that I have heard of now successful marketers was with them still working their job after they had made substantial incomes online. Lawrence Tam still works as a engineer and he made over $120k over the last 4 months.
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  • Profile picture of the author Halcyon
    I'm all for a leap of faith but not when there's a little mouth to feed. A year goes fast and the worst decisions are those made under duress. If after a few months you don't hit your numbers, you may panic and start making panic driven decisions. Not good.

    If your business strategy is solid then you shouldn't have any problem rinsing and repeating to hit your $4k/mo goal. So I advise that you continue to work at your job until you've hit your goal or save enough not only to live a year but support your business.

    Also keep in mind health insurance needs for your fiance and baby, which can be astronomical. I jumped into IM because my back was against the wall and I had to come out swinging. I wouldn't wish that on anyone.
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    • Profile picture of the author Ben Armstrong
      Originally Posted by Halcyon View Post

      I'm all for a leap of faith but not when there's a little mouth to feed. A year goes fast and the worst decisions are those made under duress. If after a few months you don't hit your numbers, you may panic and start making panic driven decisions. Not good.
      I would never want to put my son's health or quality of life at risk. I would have a cut off point where if our savings dipped below a certain level and my income goals weren't being met I would go back to work either full time or part time depending on the situation. I live in Australia where work isn't that hard to come by. I have a very good employment history and work in IT where there's a high demand for my skills at the moment so my worst scenario for failure isn't as bad as what it would be for some.

      I appreciate your comments though, and you've made me think that maybe I am being overly optimistic in my approach, so thank you!
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    • Profile picture of the author OnlineMoneyKid
      Originally Posted by Halcyon View Post

      I'm all for a leap of faith but not when there's a little mouth to feed. A year goes fast and the worst decisions are those made under duress. If after a few months you don't hit your numbers, you may panic and start making panic driven decisions. Not good.

      If your business strategy is solid then you shouldn't have any problem rinsing and repeating to hit your $4k/mo goal. So I advise that you continue to work at your job until you've hit your goal or save enough not only to live a year but support your business.

      Also keep in mind health insurance needs for your fiance and baby, which can be astronomical. I jumped into IM because my back was against the wall and I had to come out swinging. I wouldn't wish that on anyone.
      Very sound advice when one has a family to consider.
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  • Profile picture of the author Danny Cutts
    Keep on working... you have a family now to look after :-)

    when you get to 4k a month and its consistent and you have say 6 months survival money in the bank then look at leaving your job that way you have 6 months cushion if things go wrong :-)

    Good luck
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    • Originally Posted by Danny Cutts View Post

      Keep on working... you have a family now to look after :-)

      when you get to 4k a month and its consistent and you have say 6 months survival money in the bank then look at leaving your job that way you have 6 months cushion if things go wrong :-)

      Good luck
      Exactly my thoughts. No one would want to do IM with the pressure on them to feed an entire family. You want to make sure you have enough in the bank and are making a consistent income each month...else it would just be horrible.
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  • Profile picture of the author Danny Cutts
    why dont you just out source everything with your current job earnings and really ramp it up?

    Money makes money
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    • Profile picture of the author Ben Armstrong
      Originally Posted by Danny Cutts View Post

      why dont you just out source everything with your current job earnings and really ramp it up?

      Money makes money
      I've outsourced all my SEO and content with money from the business itself. I now just do market and keyword research and design the layouts of the site. Keeping track of the outsourced work still takes quite a bit of time too though.

      I think my biggest worry is that in order to spend MORE time with my son I'll be required to spend LESS time with him to get there. Working 9-5 and then trying to build a passive income each night takes a lot of quality time away from us both.

      When I was growing up my father worked 50-60 hours every week and rarely had any time to spend with me. We lived well and I never went without anything, but it's not the kind of life I want for my family or the kind of upbringing I want for my son. I already feel like I miss out on so much every day, but I guess sacrifices like this are a necessary evil.

      Thank you all for your input. While it's a little depressing to read, you've made me re-think my approach and I will definitely consider just sticking with my day job.

      I'd still like to hear from anyone else who has been in this situation and how they handled it though.
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    • Profile picture of the author Perestroika
      Originally Posted by Danny Cutts View Post

      why dont you just out source everything with your current job earnings and really ramp it up?

      Money makes money

      Money is not always the problem, often it is time.

      Leaving a full time job behind means you are leaving a regular paycheck behind. The security of receiving a steady paycheck is a big factor for a lot of people. If you have a family to support and / or mortgage to pay it is a lot more difficult to leave a full time job and switch to IM. There is a lot of things that can go wrong and you need enough money to survive for many months.

      I have enough to survive for more then a year and I still continue to do both (full time job + IM). My full time job pays me a lot of money and I would be a fool to leave.
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  • Profile picture of the author zoomsixx
    I've been doing I'm full time for over 10 years. What I see is a lot of new competition popping up because of the economy. People are trying to supplement their income. It can be very stressful, especially when you have family to support. Don't put all of your eggs in one basket is all I would suggest.
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  • Profile picture of the author David Keith
    I took some big chances when I got started. But I was 16 with no responsibilities. Even when I left college to do IM full time, I still had no one to support but me. I was the only one who had to live with the consequences of my choices.

    If I had a family at the time, I don't think I would have made those same choices. I would have played it much safer.

    I was prepared to live under a bridge if things came to that, but I wouldn't risk putting my family in that situation.

    Stick with your job, and sacrifice something else for a bit to steal a little extra time for IM. Plus, time does not necessarily equal money. If you invest a little of the extra money you make from your job that will definitely speed things up.

    BTW... congrats on the new baby.
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  • Profile picture of the author jessiepadgal
    Everyone talks about how expensive a new baby is, but if you breastfeed, use cloth diapers and wipes, make your own laundry detergent, and cosleep, you eliminate the supposed expensive things about a baby. I know because I have a 15 month old!

    You need to scale up your income, and make sure you diversify, and make IM as secure as an opportunity as you can.

    You have an emergency fund...if it can pay your expenses and your business expenses, get focused on building additional, solid income streams.

    Try being as frugal as possible, and stay away from distractions. Your baby needs you, so focus on your child and work while the baby sleeps. Have nearby family help you out with the baby by coming over and helping with housework and cooking.

    I know not everyone will agree with me, but my husband and I are extremely family-centric and we are doing everything we can to earn full-time from IM (we aren't there yet) and we are building up our financial cushion while we build our businesses and we know that with enough hard work and building a diversified set of businesses we can get there.

    I wish you all the best!
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  • Profile picture of the author jgant
    I went full time in November 2011.

    For me, after going full time into IM, there were additional expenses being self employed such as health care coverage, bookkeeping and accountant's fees. I also set up a pension account which costs money each month (health care and pension contributions) are those hidden expenses you don't realize when you receive a pay check).

    Before going into IM full time, I had reached an IM income slightly higher than my job salary when I quit my job. I had savings that would enable us to live for a year (which I was able to do because I was earning decent IM income during my last 8 months of having a 9 to 5 job). Since then I've added to those savings so things are working out well. But it could have gone south.

    I had made careful projections about income from my 3 online businesses. I over estimated one revenue source, but another business took off and exceeded projections so it was a wash (the over-estimate was a bit nerve-wracking).

    My wife and I also had our first baby recently (Nov. 28/11 - same month I went full time into IM). Thanks to being a full time IM'r I was able to take time off after the baby was born. I'm able to relieve my wife in the mornings and start working whenever it works out. IM with a family is great. I still work 40 to 50 hours per week, but can work those hours any time I like. The flexibility is incredible.

    I don't think I'd quit my job at $500 per month if I needed $4K per month to survive. It's highly possible to crank up your income to $4K in 7 months now that you have a working model. However, it's not a guarantee. The last thing you want is to have to scramble for a new job in 7 months. I realize it's hard with a new baby to find extra time, but it's better to be prudent than end up in worse position than you are now.

    If you're working a 9 to 5 job, you can re-invest earnings into outsourcing to speed up your revenue. I did that to a degree. You can also stash that extra money into savings to beef up a backup fund.

    Good luck. You're not far off. I tend to be a bit prudent. Some people will counsel to take the leap and see what happens. At the end of the day, if you can earn $500 per month, there's no reason you can't, in time, scale up to $4K per month and beyond. That was my thinking. When I hit $1,000 per month, I knew I could do this IM thing. I simply kept doing what was working over and over.
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  • Profile picture of the author Ian McConnell
    Ben, it is scary and I did it about 3 years ago.

    I went from earning $120k as an Electrician to $40k... But, in Australia we can do that as long as you don't have a big mortgage or car loan. We had no family here (to ask for help) but I knew I could always go out and get another job. Today I would need to work 60hrs a week at top rate to equal what I earn in IM working 4 hours a day.

    If I didn't take the leap of faith back then I would still be an electrician with a part time IM business. I am so glad I made the move.

    You also have other options... doing IT work part time or building websites for small businesses in your town at $500+ each.

    The baby is not a factor as they don't cost much... I put both my sons thru private schools on IM earnings. You have lots to fall back on because you live in AU.

    Crikey, if you make $500/mo from Amazon then you immediately have a product in you teaching others how to do that. I'm lucky if my Amazon cheques are more than $100/mo but I have a membership site that does very well.

    Remember you also have help with your local Chamber of Commerce, Small Business Center and Centerlink.

    Good Luck and keep us updated.
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    • Profile picture of the author Ben Armstrong
      Originally Posted by Ian McConnell View Post

      Ben, it is scary and I did it about 3 years ago.

      I went from earning $120k as an Electrician to $40k... But, in Australia we can do that as long as you don't have a big mortgage or car loan. We had no family here (to ask for help) but I knew I could always go out and get another job. Today I would need to work 60hrs a week at top rate to equal what I earn in IM working 4 hours a day.

      If I didn't take the leap of faith back then I would still be an electrician with a part time IM business. I am so glad I made the move.

      You also have other options... doing IT work part time or building websites for small businesses in your town at $500+ each.

      The baby is not a factor as they don't cost much... I put both my sons thru private schools on IM earnings. You have lots to fall back on because you live in AU.

      Crikey, if you make $500/mo from Amazon then you immediately have a product in you teaching others how to do that. I'm lucky if my Amazon cheques are more than $100/mo but I have a membership site that does very well.

      Remember you also have help with your local Chamber of Commerce, Small Business Center and Centerlink.

      Good Luck and keep us updated.
      Thanks Ian!

      Yes, we're very lucky to live here. Others have pointed out health care costs but over here we have a very good public health care system and private health care (which we now have) isn't expensive.

      We do have a mortgage (about 220k) but I recently spent 45k eliminating all our other debt such as cars, credit cards and furniture. So everything else we pay for is either bills or food/clothing etc.

      As much as it pains me, I think the advice in this thread has made me think twice about the move and I will go home and re-assess everything.

      One thing I do know though... I'll be working harder than ever to get my business going.

      Thanks for all the great advice so far but please feel free to keep the stories/suggestions coming.
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      • Profile picture of the author TopKat22
        [QUOTE=Ben Armstrong;5814546].

        As much as it pains me, I think the advice in this thread has made me think twice about the move and I will go home and re-assess everything.

        QUOTE]

        One thing my Uncle told me that his Uncle told him when he first went into business....never take advice from someone who has never done it.

        If all the advice you are getting from people on this thread of not to do it is because they have not done it, then of course, that is what you will get.

        Truly, only you know what you are capable of doing.

        Entrepreneurs are risk takers.
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        • Profile picture of the author jessiepadgal
          [quote=TopKat22;5814589]
          Originally Posted by Ben Armstrong View Post

          .

          As much as it pains me, I think the advice in this thread has made me think twice about the move and I will go home and re-assess everything.

          QUOTE]

          One thing my Uncle told me that his Uncle told him when he first went into business....never take advice from someone who has never done it.

          If all the advice you are getting from people on this thread of not to do it is because they have not done it, then of course, that is what you will get.

          Truly, only you know what you are capable of doing.

          Entrepreneurs are risk takers.
          This is good advice...I don't earn full-time from IM yet, so I hope my advice clearly shared that with a grain of salt.


          It is very important to spend time with your family. Keep at it :-)
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        • Profile picture of the author Ben Armstrong
          Originally Posted by TopKat22 View Post

          One thing my Uncle told me that his Uncle told him when he first went into business....never take advice from someone who has never done it.

          If all the advice you are getting from people on this thread of not to do it is because they have not done it, then of course, that is what you will get.

          Truly, only you know what you are capable of doing.

          Entrepreneurs are risk takers.
          I guess I did start the thread looking for advice from people who've done it.

          The truth is that I've constantly gone through periods of being extremely positive about it and knowing that if I put everything I have into it that I'll succeed. Then I've had moments where the thought of it is terrifying.

          The slightest comment or piece of advice seems to easily sway me from one side of thinking to the other. Perhaps I should just trust my gut on this one.

          When I put the best case scenarios, worst case scenarios, and likely scenarios all down on paper it doesn't seem that crazy to do it. I just can't seem to get over the fear of making the jump.

          I've worked at the same place for 7 years and I only do it for the money. My regular job brings me no joy and I'm not passionate about it. I am passionate about my business though.

          I'm sure there are plenty of people out there who work a regular 9-5 job, have a mortgage and little to no savings. They could be fired at any time. Sometimes I think "what makes them, and their situation any more secure than I would be if I did this?"

          I could always go back to a regular job and still be in a better situation than them and also have at least increased my online earnings to boot.
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      • Profile picture of the author Ian McConnell
        Originally Posted by Ben Armstrong View Post

        As much as it pains me, I think the advice in this thread has made me think twice about the move and I will go home and re-assess everything.
        Ben, before you get discouraged, make sure you check where the comments originate from (no disrespect intended to anyone). In other words listen to people who have successfully done what you intend to do, and then model them.

        Similar to asking advice about IM from your family... They will have great intentions for you, but will probably advise you badly because they haven't been there and done that.
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  • Profile picture of the author goindeep
    Take time off work like you would if you where to take annual leave or go on holiday. So essentially 4 weeks. That way you will figure out if its working out for you or not.
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    • Profile picture of the author Ben Armstrong
      Originally Posted by Andrei Rotariu View Post

      Take time off work like you would if you where to take annual leave or go on holiday. So essentially 4 weeks. That way you will figure out if its working out for you or not.
      I took my 4 full weeks of annual leave and 1 week of paternity leave when the baby was born unfortunately. I did however spend a few days working on IM for 8-10 hours and absolutely loved the flexibility and the freedom, so I've had a bit of a trial run.
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  • Profile picture of the author TopKat22
    I did not quit my first job out of college to do IM but I did quit to start my first offline business.

    In all my years in business, I have NEVER seen anyone in any business endeavor make a full time income WHILE they were still working a job. NEVER. People have told me it has happened but I've never been shown proof.

    I took the plunge knowing that as long as I had a "safety net" of the job, I would never put everything into my business to make it a success. So, I quite my job, spent my entire lifetime savings including all my retirement and HAD to make it work.

    And I did.

    I ran into every conceivable problem there probably could be. We went over budget on the reno's for the location and then had a legal issue with state licensing and on and on.

    I had no choice. I had to make it work.

    My advice to you is, if you can handle that kind of pressure and do well under it and succeed then go for it.

    If you cannot handle that kind of pressure, then keep your day job and keep working at IM part time.
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  • Profile picture of the author marcelomusza
    I think many will tell you the same thing, but its completely true... of course is Scary, I cannot even imagine the day I would have to make that decision. But I am following that road, so someday I will have the opportunity too hehe..

    I think you should just cover your basic expenses plus something more to make a living with your earned money online, and only there make the decision to start full-time in this business.
    Take in mind that you will have a lot more time to invest in your business, so you won't have to wait too long until you start earning the same you were earning with your previous full-time job.
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  • Profile picture of the author lerxtjr
    Keep the day job!! You will have a very difficult time buying health insurance as good as your company can provide. And, you're going to need health insurance. Every trip to the doctor for a runny nose. Every race to the ER when he falls out of bed or down the stairs. Little kids have a way of finding reasons to have to go to the doctor a lot. Then you'll wake up one day and your boy will be in kindergarten.

    You're a good dad, Ben. My dad was much the same but he left on Monday morning and didn't even come home until Friday night. He too felt he was missing out in my upbringing...so, voila, why not go into business for himself, he thought. I guess he was 'physically' around more which meant a lot to me but mentally, he and mom were always stressing the business 24/7. The struggle of owning his biz for just 5 years took about 25 years off his life I figure. Gotta weigh all costs.

    When my wife and I had our first kid, I was already working full-time in my own web biz. My wife still worked in corporate America so we still had health insurance when kid #1 and kid #2 came along. I'm still full-time in IM and wifey is still working in corporate America. One of our kids turned out to have weird skin allergies with frequent trips in for treatment. The boy threw out his baseball arm. Just lots of things to consider when kids are involved that you just can't predict unless you have them. Truth is, I don't know that I would've kept running my own biz if my wife wasn't working too so that we had the health benefits. Making $4K/year certainly won't cut it. Maybe if you're making $20K per month it's worth looking at quitting the day job and going full time. Then you can afford whatever health insurance you want. But, $4K? Not even close.
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  • Profile picture of the author Usmile
    I suggest you to be realistic than being idealistic. There's no wrong of planning in quitting your job just to be with your little boy but it should be under solid ground. Remember that you have a family to raise and quitting your job without building a good edge in IM might put you in risk. Since your passion is to pursue IM, I recommend you to build your foundation first before considering it as your main source of income.

    I hope this give you a hint.
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  • Profile picture of the author David Keith
    Personally, I would set a fixed date of say 30 days from now. That is your re-evaluation point. Let's see how much you can accomplish in those thirty days.

    You mention wanting/needing to go from 500 up to 4k ish. Thats about a $200 a month increase on average. So with your day job can you take it from 500 up to 600. If you can, then I would be a lot more optimistic about taking the plunge.

    If you struggle to do that in 30 days, then you really need to think about how realistic it is going to be to go from 500 up to 4000 in a year or so.

    I would be setting up relatively short re-evaluation stop points. Like every month. If you can make some good progress for a month or 2, then go for it.

    Another month or 2 at your job is not going to be the worst thing you go through in life. That little baby boy will grow up to be a teenager and make working another month at your job seem like a day in the beach.
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    • Profile picture of the author Ben Armstrong
      Originally Posted by David Keith View Post

      Personally, I would set a fixed date of say 30 days from now. That is your re-evaluation point. Let's see how much you can accomplish in those thirty days.

      You mention wanting/needing to go from 500 up to 4k ish. Thats about a $200 a month increase on average. So with your day job can you take it from 500 up to 600. If you can, then I would be a lot more optimistic about taking the plunge.

      If you struggle to do that in 30 days, then you really need to think about how realistic it is going to be to go from 500 up to 4000 in a year or so.

      I would be setting up relatively short re-evaluation stop points. Like every month. If you can make some good progress for a month or 2, then go for it.

      Another month or 2 at your job is not going to be the worst thing you go through in life. That little baby boy will grow up to be a teenager and make working another month at your job seem like a day in the beach.
      I really appreciate your reply buddy. Solid advice that I'll definitely take.

      I'm going to hit this hard over the next couple of months and really see what I can do.
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      • Profile picture of the author TopKat22
        Originally Posted by David Keith View Post

        Personally, I would set a fixed date of say 30 days from now. That is your re-evaluation point. Let's see how much you can accomplish in those thirty days.

        You mention wanting/needing to go from 500 up to 4k ish. Thats about a $200 a month increase on average. So with your day job can you take it from 500 up to 600. If you can, then I would be a lot more optimistic about taking the plunge.

        If you struggle to do that in 30 days, then you really need to think about how realistic it is going to be to go from 500 up to 4000 in a year or so.

        I would be setting up relatively short re-evaluation stop points. Like every month. If you can make some good progress for a month or 2, then go for it.

        Another month or 2 at your job is not going to be the worst thing you go through in life. That little baby boy will grow up to be a teenager and make working another month at your job seem like a day in the beach.
        Originally Posted by Ben Armstrong View Post

        I really appreciate your reply buddy. Solid advice that I'll definitely take.

        I'm going to hit this hard over the next couple of months and really see what I can do.
        The only thing is that it is never the same.

        Keeping the safety net of the job while working on it 30 days will not at all be the same as if you take the plunge and HAVE TO make it in 30 days or 6 months or whenever you would run out of money.

        It is like that quote "you can't serve two masters".

        You either give your all at your job or you give your all at your business or you do both a bit less than your best.

        I'm not saying you should or you shouldn't. I'm saying, in your first post, you said you felt confident that you could do this.

        Then you ask for a lot of people's opinions whom you do not know and you have no idea what they have achieved and then you take their advice???

        Again, never take the advice of someone who has not succesfully done what it is you want to do.

        But even better than that, don't ask or take anyone's advise.

        Decide for yourself and then whatever you decide, make it work.
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        • Profile picture of the author David Keith
          Originally Posted by TopKat22 View Post

          The only thing is that it is never the same.

          Keeping the safety net of the job while working on it 30 days will not at all be the same as if you take the plunge and HAVE TO make it in 30 days or 6 months or whenever you would run out of money.

          It is like that quote "you can't serve two masters".

          You either give your all at your job or you give your all at your business or you do both a bit less than your best.

          I'm not saying you should or you shouldn't. I'm saying, in your first post, you said you felt confident that you could do this.

          Then you ask for a lot of people's opinions whom you do not know and you have no idea what they have achieved and then you take their advice???

          Again, never take the advice of someone who has not succesfully done what it is you want to do.

          But even better than that, don't ask or take anyone's advise.

          Decide for yourself and then whatever you decide, make it work.
          I fully realize that. Thats why I said he is really looking to increase his income by $200 ish a month.

          I suggested he keep the safety of his job due to hiis responsibilities to his family but set a slightly lower goal of a $100 a month increase for a month or two.

          If you can do that, then it is very likely that more time spent would indeed lead to more income. But time spent "trying" does not necessarily lead to more income produced.

          So I suggest he double down on his efforts for a month or 2 and see if more time does equal more money for him. If so, then walk away from the job.

          But many find that more time doesn't equal more money. I would hate to find that out after I quit my job and had to explain to my wife and kids why we are loosing the house.
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          • Profile picture of the author fin
            Is it possible to take a 1 year career break?
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          • Profile picture of the author TopKat22
            Originally Posted by David Keith View Post

            I fully realize that. Thats why I said he is really looking to increase his income by $200 ish a month.

            I suggested he keep the safety of his job due to hiis responsibilities to his family but set a slightly lower goal of a $100 a month increase for a month or two.

            If you can do that, then it is very likely that more time spent would indeed lead to more income. But time spent "trying" does not necessarily lead to more income produced.

            So I suggest he double down on his efforts for a month or 2 and see if more time does equal more money for him. If so, then walk away from the job.

            But many find that more time doesn't equal more money. I would hate to find that out after I quit my job and had to explain to my wife and kids why we are loosing the house.
            I am not saying this is not a logical approach and I hope that it would work for Ben....or anyone.

            I personally, in all my years in business, have NEVER seen it happen.

            Every time someone assures me that THEY will be the one, they will show me that it CAN be done, I very much am rooting for them that it will work for them and yet, no one has shown me yet in any field that it can be done.

            Maybe Ben will be the first.
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            • Profile picture of the author David Keith
              Originally Posted by TopKat22 View Post

              I am not saying this is not a logical approach and I hope that it would work for Ben....or anyone.

              I personally, in all my years in business, have NEVER seen it happen.

              Every time someone assures me that THEY will be the one, they will show me that it CAN be done, I very much am rooting for them that it will work for them and yet, no one has shown me yet in any field that it can be done.

              Maybe Ben will be the first.
              Not trying to argue at all man, I certainly understand where you are coming from. I however have seen this work quite a few times.

              The key is to simulate the pressure that you would be under for a short period of time and see how you perform.

              I am sure I don't have to tell you that when you are in business, it all ends with you. That means some days you work 2 hours and some days you work 16+.

              The key for this to work is for a person to begin to get into that mentality before they are actually forced to by circumstances and bills.

              If he can get it in is DNA so to speak that he needs to make $100 more and nothing else is acceptable, he will do fine.

              My advice is really about preparing a mindset than the nuances of business. I think the fact that he is making some money shows he is almost certainly capable of making more.

              But is he really ready for all the extra pressures that come with only getting paid for results.
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              • Profile picture of the author TopKat22
                Originally Posted by David Keith View Post

                Not trying to argue at all man, I certainly understand where you are coming from. I however have seen this work quite a few times.

                The key is to simulate the pressure that you would be under for a short period of time and see how you perform.

                I am sure I don't have to tell you that when you are in business, it all ends with you. That means some days you work 2 hours and some days you work 16+.

                The key for this to work is for a person to begin to get into that mentality before that are actually forced to by circumstances and bills.

                If he can get it in is DNA so to speak that he needs to make $100 more and nothing else is acceptable, he will do fine.

                My advice is really about preparing a mindset than the nuances of business. I think the fact that he is making some money shows he is almost certainly capable of making more.

                But is he really ready for all the extra pressures that come with only getting paid for results.

                Yes, that also makes sense. IF someone can simulate that level of necessity.

                Wow! You have actually proof of someone who stayed in a full time job and created a successful business at the same time???

                I would love to meet and talk to that person as it would be the first I've ever met.

                At one point, we were actually actively looking for people to interview to put in a book about it but unfortunately, we could never find anyone that could provide proof and most when asked admitted they ended up going back to getting a job.

                By successful business, we meant someone who's sole support came from the income of a business.

                We had one guy who said he did, but come to find out, his business was operating at a consistent loss and his household was actually supported by his wife until eventually, he went back to work.
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                • Profile picture of the author David Keith
                  Originally Posted by TopKat22 View Post


                  Wow! You have actually proof of someone who stayed in a full time job and created a successful business at the same time???
                  Yea, I actually made an upper six figure income almost exclusively from helping people do just this. BTW, I even fronted the money and got payed on a results only basis in most cases.

                  I won't hijack the thread...much...but I did it through helping people build micro niche / mini local hosting companies. I fronted half the small investment capital needed and the "know how". I owned the companies, but I was under contract to sell them to the "partners" if/when they met certain goals.

                  Once they met those goals, I would sell them the entire business that mostly they had built back to them on time (with interest). It worked pretty well with a near 50% success rate.

                  Most of those folks ran their hosting business in their spare time while they worked very mediocre jobs.

                  It can be done, but you have to think out of the box or you will end up being one of those folks who make up the 9X% that fail.
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              • Profile picture of the author Kay King
                The problem with a "dive in" in this case is a baby. The need to work constantly day after day and be stressed and tired is not conducive to family interaction.

                That's why I advise a step by step move from jobs to IM for Ben - to maintain having time to relax and enjoy that baby.

                I'm not sure why anyone would say "it can't be done in that way" - I've done it. I've chosen not to leave weekend work because it's the only thing that gets me out of my home office and makes me interact with people.

                I know people who arn a full time living online and keep working in their profession by choice. I also have known some who quit jobs to "do IM" and learned they couldn't swim.

                I can walk away from my weekend job tomorrow if I want to - and there's a real freedom in knowing that. I live completely off my internet income so I know it's possible to make a transition that doesn't include the stress and worry of "all or nothing".

                kay
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                • Profile picture of the author fin
                  Personally, I'd hand my notice in tomorrow.

                  You CAN make money online, passive as you say, so it's only a matter of time before you reach 4K.

                  Just say you build it up2 2k per month in the first 6 months. Then you could maybe take a part-time job. You'll then have 2k per month + part-time wages.

                  After 12 months, start looking for another full-time IT job.

                  The thing is, for the first 6 months you can work on your business for thousands of hours. Chances are you will make it in 12 months, easy peasy.
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                • Profile picture of the author TopKat22
                  Originally Posted by David Keith View Post

                  Yea, I actually made an upper six figure income almost exclusively from helping people do just this. BTW, I even fronted the money and got payed on a results only basis in most cases.

                  I won't hijack the thread...much...but I did it through helping people build micro niche / mini local hosting companies. I fronted half the small investment capital needed and the "know how". I owned the companies, but I was under contract to sell them to the "partners" if/when they met certain goals.

                  Once they met those goals, I would sell them the entire business that mostly they had built back to them on time (with interest). It worked pretty well with a near 50% success rate.

                  Most of those folks ran their hosting business in their spare time while they worked very mediocre jobs.

                  It can be done, but you have to think out of the box or you will end up being one of those folks who make up the 9X% that fail.

                  Wow! that is great. I do not want to hijack this thread either but will PM you as if those people would be willing to be interviewed, I think we could still do our idea for a book.

                  Originally Posted by Kay King View Post

                  The problem with a "dive in" in this case is a baby. The need to work constantly day after day and be stressed and tired is not conducive to family interaction.

                  That's why I advise a step by step move from jobs to IM for Ben - to maintain having time to relax and enjoy that baby.

                  I'm not sure why anyone would say "it can't be done in that way" - I've done it. I've chosen not to leave weekend work because it's the only thing that gets me out of my home office and makes me interact with people.

                  I know people who arn a full time living online and keep working in their profession by choice. I also have known some who quit jobs to "do IM" and learned they couldn't swim.

                  I can walk away from my weekend job tomorrow if I want to - and there's a real freedom in knowing that. I live completely off my internet income so I know it's possible to make a transition that doesn't include the stress and worry of "all or nothing".

                  kay
                  I did not say it cannot be done. I said I've not ever seen anyone do it that could prove it, but apparently, David Keith has.
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  • Profile picture of the author Rukshan
    I do both to keep my life well. When I get a $5000/month passive income and enough savings, I will not do 9-5 job. It's nice to see that you like to spend more time with your family. That's a great thinking as a father. I wish that life when i marry

    Good luck!
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  • Profile picture of the author jessiepadgal
    In looking for people who have done it...look in the War Room. I see you are a member. You should be able to find something to give you an insight on going FT, whether directly aimed at sharing that specific info or indirectly doing so in sharing their business model and a case study.
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  • Profile picture of the author paul_1
    No job is safe these days anyway... Sometimes a leap of faith can draw out all your creative abilities...
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  • Profile picture of the author JeremiahSay
    Personally, I'll definitely quit my job and go full-time.. Just like the Texans. When Texans win, they win big. And when they lose, it's spectacular. Texans don't take failure as an excuse, they use that to motivate and encourage themselves to do better next time.

    And that is always a part of me: A desire to WIN big (though there's risks)

    Don't get me wrong, I'm not recommending you to do this now (quit your job and go IM full-time) because you have a baby boy to feed and a family to support.

    But as you mentioned in your thread, you have a good 7 months to a year in saving.. perhaps you should seize this opportunity by giving yourself a time-frame and a chance to really WIN big in IM.. give yrself maybe 1 - 3 months (it's more than enough time) to see if you're able to go from a mere $500 to 4k (or even much much more)..

    Spend more times with your baby boy and family (that's what you want to do right?) But spend lesser time watching tv, reading magazine (things which wouldn't make you rich) etc..

    I know you've the burning desire to succeed in IM right now! I just know it, the emotion you're having right now is very powerful.. Make full use of it by going out there, do your planning and make some money. (Old saying: If there's a will, there's surely a way).. you shouldn't waste such a wonderful opportunity.

    In case if it's not working you can always go back to look for a job. You won't put your family at risk.

    People around me say that it's cruel to work in IM for FREE or for little money - All newbies will work for free or for little money during their initial stage in IM. But they just don't understand, too me, "cruel" is working hard in a job for 40 years for the sack of money. Not being able to spend quality time with my love ones, not being able to go on a vacation whenever i want etc..

    Working in a job is easy, even 16 yo can do that.. but not everyone can turn an idea to a money generating machine.

    It's really time to take your shot!

    God bless you,
    Jeremiah
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    • Profile picture of the author mrdomains
      'm pretty sure you mean 4000 a month. If you are doing 500 now I read that as needing 8x more. My 2 cents is it is way too early to start thinking full time.

      Reconsider when you reach 2000 a month for at least 6 months on a stretch.

      You are also putting yourself and your family in jeopardy if Amazon is your only income source.

      I would set a goal to having 3 separate streams where at least one of them does NOT depend on Google being kind. That may be your list, product creation, consulting, whatever.
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  • Profile picture of the author los s
    i would build it do i have a few months of savings then id double the intensity online and by then you will be full time.
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  • Profile picture of the author Steven Miranda
    Your concerns are real. If you have a money-maker and you see long term profits then go at it full-force. If times get hard don't give up and try even harder to stay successful. It is not always easy but in the end it is worth it!

    Good luck.
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    • Profile picture of the author Robby54
      Ahh.. This reminds me of FDR quote "We have nothing to fear but fear itself"
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  • Profile picture of the author SARahman
    Originally Posted by Ben Armstrong View Post

    I'd really like to hear from people who took the jump from regular 9-5 to full time IM.

    • Were you scared?
    • What held you back?
    • What finally made you take the plunge?
    • Did you wait until your IM income had equaled or overtaken your regular income or did you just make a leap of faith?

    I'd also like to hear anyone else's opinions or thoughts. Is this a realistic target or am I being too optimistic?
    Frankly, I got overwhelmed by all the Guru talks. Things looked pretty easier to me, got highly motivated and didn't save my job.

    Income from eBusiness does not come easier and you will often face steep fall rather than peaks.

    May I suggest stop thinking about quitting your job. Cause this who you are, without it, you will not be YOU.

    Trust me, initially you will work work work -- but not very long. Why? At 9 to 5 job you go by the flow, your boss keeps you motivated, your colleagues make you run along, etc. Without motivation you will lack discipline and the day you started lacking descipline.

    Oh man! Don't even ask. I've been through this, not every man is the same but majority do it.

    Please keep doing what you do during 9 to 5 and sacrifice some time from your family's time for their own bright future.

    Wish you luck!

    S A Rahman
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  • Profile picture of the author danielrandy
    Yes, the fear of going full time is very dangerous because you cannot continue your other social activities.
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  • Profile picture of the author John K Glenn
    If you have things to work on but dont have time to do it , better is to outsource your work and distribute it.
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  • Profile picture of the author Tadresources
    You have too much at stake to just up and leave a steady income for IM. Wait until you have enough IM income to support your family at the lowest level you can be comfortable with. IMO you should always make sure you have enough for food, clothing and shelter with enough left over for savings...
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  • Profile picture of the author Rocelo
    Banned
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    • Profile picture of the author Kay King
      I think you have a good grip of potential risk/benefits. I've gone full-time both ways!

      Hurricane Katrina destroyed my workplace in a few hours. My IM hobby became my lifeline for the next year. I survived -but with a lot of stress along the way.

      I went back to work when we re-opened the business - but quickly decided full-time wasn't for me any more. I went to a part-time employee and then to weekends only. I will quit sometime this year - but it's easy for me to work 2-3 days a week (and not every week) and the pay is hard to walk away from. I'm using the job to build up savings now.

      I think you definitely can get to the $4k mark and I think you have some great options. If your partner can work 2 days a week and you can transition into part time work you'd have a great solution with income from several sources.

      I wouldn't quit the job until my online income was reliable at a certain level. By reliable I mean set up in a way that income is generated without constant attention from you. If you have a steady online income that is sufficient to pay monthly basic expenses - you can move up from there without putting your family at risk.

      If you can both transition to working jobs 2-3 days a week and IM the rest of the time you can make a smooth conversion where the online income grows steadily. Before stopping work altogether live for a few months only on the online income and bank the work income as an emergency fund.

      kay
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  • Profile picture of the author fenixpro
    First of all. Congrats on the $500 / month success. That is awesome. I can understand how and why you think you can scale that with more time. Couple of thoughts:

    - my heart says go for it - especially since you have $ saved.
    - my brain says wait until you have all of your bare costs covered then do it
    - managing and working 'for yourself' full time is totally different than doing it part time. it is much more difficult and necessary to manage your own time, prioritize, and hit your targeted goals. It's taken me almost a year to efficiently plan, organize, and implement my time in a structured and productive business way - since going fulltime. all of the sudden having all of your work time in your own hands can be challenging.
    - IM is variable and the methods to success - even once achieved - can change. Your $500/mo sites might increase dramatically or plummet. Diversity is key.

    Best of luck to you regardless and while yes, being smart and safe is good - kudos to you for even putting it on the table to take a risk.
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  • Profile picture of the author JoeMack
    Ben....

    I can totally relate with what you are going through. I too had a father that worked an incredible amount of hours each week at his job. And while we never had any sort of stress regarding finances, I barely saw the guy.

    Now, that I am an adult, I do appreciate how hard we worked for us, but the result is that we are basically strangers to each other (and we live in the same city).

    When I had my kids, I was working full-time at a fairly decent paying job. But I did not want to repeat the cycle that had progressed with me and my Dad. So, like you, I slowly started to supplement my income with a variety of online ventures.

    I guess I was fortunate in that once I took the plunge of relying solely on online income, it didn't take me too long to replace what I had been making working full-time at a regular job.

    And although I was making less initially after quitting that job, the time I got to spend with my children was priceless.

    Look, no one but you can decide when is the perfect time to go full-time with IM. But you only live life once, and your child is only a child once. And like you yourself said, your worst case scenario is going back to working full-time. So what do you really have to lose?

    Best of luck, my friend. As a father myself, and one who cherishes every singe moment that IM allows me to spend with my children, I hope you are able to work things out in the most ideal way. But you seem to have a good idea of what you are doing and how to grow it, so I am confident that your path will be a successful one.

    Have fun with your child. Life is about making memories, not making money. Not to say that making money is not important, because it is. Having more money gives us more options to do the things we want to do. But making beautiful memories is the key.

    JoeMack
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  • Profile picture of the author David Keith
    back on track, the OP mentions his income is from a couple of niche amazon sites.

    Where / how are you getting traffic to those sites? If it's primarily google at this point, you are just one algorithm update from not making a dime.

    I would look to make it into more of a business with a little more diversification before I risked the well being of my family.

    I think this is a very important thing to consider.
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  • Profile picture of the author gojiberryman
    First, I would like to say congratulations on your newborn child. The advice that I have for you and other individuals that are in a similar situation is that you must weigh your options first. What you should do is continue working a 9-5 until your online business is creating the kind of full-time income that you desire. You should never make a transition if you are not positive of the outcome. I wish the very best for you and your family.
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    • Profile picture of the author Ben Armstrong
      I've been overwhelmed with the awesome responses in this thread and I'd like to thank you all for contributing. While there is a lot of conflicting advice and thoughts in here they are all valuable and have given me some great points to think on.

      After thinking on it last night I've decided that I'll re-assess the situation every 2 months or so and see where I'm at.

      At the moment I have 3 niche sites and am about to launch an authority site. All 3 of the established sites rely solely on google for traffic and Amazon for commissions. I definitely understand the need to diversify both my traffic sources and my income streams so I do have plans in place that involve building a list with the authority site and a couple of feeder sites in the same market. I'll also be looking at clickbank affiliate sites and product creation within the next 12 months.

      I even have a product that's almost complete. I just don't have the time to learn about how to launch it successfully with everything else on my plate. A large part of my thinking in going full time is that it's just too hard to diversify while working 9-5. So many new skills to learn and implement in so little time. I also wanted to get to about 1k from each stream before moving on to the next.

      I generally only get about 8 hours a week to work on my business so it's tough to do everything I want to do. Every night when I turn off the PC there always seems like so much more I'd like to get done.

      I've earned $340 so far this month so I'm on track to increase my income yet again this month. I'm not exactly sure what kind of target I'm aiming at yet, but 700 a month isn't it so I'll keep going and see what the situation is in another month or 2.

      I have a clear picture in my mind of what my family's life will be like one day and I won't be deterred from, or distracted from that goal no matter what. So I know I'll get there, I just have to be a little more patient.

      If nothing else, putting my thoughts out here on the warrior forum and hearing everyone's thoughts has helped me motivate me to work even harder than I have before, because I know I'm not too far away from where I need to be. And I'll now measure my distance from my goals in terms of effort, rather than time.

      I'll come back to this thread and give an update if something worth mentioning happens, and TopKat22... I'll be happy to do an interview for you when I successfully make the transition.

      Again thanks to everyone for their replies, I read every post carefully and took in all the great advice before coming to a decision.

      Thank you!
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  • Profile picture of the author Sitestomp
    If you were a bachelor and didn't have many bills or responsibilities, I would say go for it. I quit my job 5 years ago to go fulltime online, but I was unmarried without many bills or debt. To answer your question, I waited until my online income surpassed that of my job.

    But you have a new baby on the way. You have to put your family first and think about their well-being too.

    It's risky to quit your job if you're only making $500/mo online. That's my opinion.
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  • Profile picture of the author fin
    I'd also try and build your authority site around "syndication" and "social media".
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    • Profile picture of the author Ben Armstrong
      Originally Posted by fin View Post

      I'd also try and build your authority site around "syndication" and "social media".
      Thanks for the advice. I'm definitely planning to leverage social media with the authority site. Syndication is something I should also look into but I have a lot to learn in this area.
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  • Profile picture of the author celente
    yes if you have not replaced your 9 to 5 income, then there is no need to get online fulltime. Many people make this mistake. So it is important.
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  • Profile picture of the author DPM70
    Good luck with going IM full time, if that's what you decide to do. I'd also throw into the pot that not everything in IM life is REWARDING.

    Having a few Amazon sites and a few Adsense sites and a few Affiliate sites is not necessarily REWARDING. Maybe scale it all up and, monetarily, momentarily, it's rewarding. But not all of us are like that. Some of us fit better into a different setup where we can offer skills, services, insight, provide other kinds of value that is hands on - out in the offline world.

    You may find yourself bored after you've made money easily to survive online. Have a dream to tap into your innate skills and interests. Don't necessarily give up completely on the offline world. It always offers up plenty of opportunities - once you can dictate your own terms. Never FEAR anything - healthy, informed caution is all that is required.
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    • Profile picture of the author Ben Armstrong
      Originally Posted by DPM70 View Post

      Good luck with going IM full time, if that's what you decide to do. I'd also throw into the pot that not everything in IM life is REWARDING.

      Having a few Amazon sites and a few Adsense sites and a few Affiliate sites is not necessarily REWARDING. Maybe scale it all up and, monetarily, momentarily, it's rewarding. But not all of us are like that. Some of us fit better into a different setup where we can offer skills, services, insight, provide other kinds of value that is hands on - out in the offline world.

      You may find yourself bored after you've made money easily to survive online. Have a dream to tap into your innate skills and interests. Don't necessarily give up completely on the offline world. It always offers up plenty of opportunities - once you can dictate your own terms. Never FEAR anything - healthy, informed caution is all that is required.
      I definitely won't be building Amazon niche sites for the rest of my life but I figured it was a very good way to learn the basics before I move on to something else.

      While I haven't yet found a niche that I'm particularly passionate about in IM, I am extremely passionate about my business.

      I've worked in IT for 7 years and my heart simply isn't in it. I honestly don't think I could be passionate about any 'job'. At least not one where my work isn't closely tied into the financial rewards, or where my creativity is completed stifled by process, and regulations.

      I love IM because the opportunities are limitless. The rewards are only restricted by my own imagination, effort and skills. I love coming up with an idea and watching it come to life.

      Unless I'm challenging myself, learning something new, surprising myself with my achievements and reaching for new goals, I'm completely unmotivated and unfulfilled.

      As much as it's important for me to spend more time with my son, I think it's equally important that I set an example of how to live a life. And if I'm unhappily slaving away at a job I detest for another 7 years and coming home dejected and depressed, I won't be the only one suffering from it.

      I know that working from home won't exactly be a dream come true. I'm sure at times I will struggle for motivation and I'll miss the social aspect of work and even get sick of my office and our house, but compared to sitting in the office at my regular job, so far away from my family, and missing out on all my son's little milestones, it certainly seems like a dream come true.

      I don't think I'll be venturing too far into the offline world but I'll definitely be branching out and trying new things.
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  • Profile picture of the author emrom
    I say, until your IM income is equal or great for 3-6 months in row....keep the day job.
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  • Profile picture of the author NACAdam
    take the plunge that is what I did ..Yes it is scary but here is the deal build amazon sites later they dont pay off soon enough ..I mean their affiliate program only pays out 3 months after the sale.. So clickbank pays out quick and so do other networks such as market health that way you can start getting paid right away ..Make sure you schedule your days very carefully and then stick to it . Don't give in to the distractions of home life that can be tough. Clear out a specific work place to yourself and set boundaries ..Just because you are at home doesnt mean that you are available to oversee every little incident..( I've had problems in relationships because of this one lol )
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    • Profile picture of the author Ben Armstrong
      Originally Posted by NACAdam View Post

      take the plunge that is what I did ..Yes it is scary but here is the deal build amazon sites later they dont pay off soon enough ..I mean their affiliate program only pays out 3 months after the sale.. So clickbank pays out quick and so do other networks such as market health that way you can start getting paid right away ..Make sure you schedule your days very carefully and then stick to it . Don't give in to the distractions of home life that can be tough. Clear out a specific work place to yourself and set boundaries ..Just because you are at home doesnt mean that you are available to oversee every little incident..( I've had problems in relationships because of this one lol )
      My fiance is very supportive and is constantly encouraging me to take the plunge, and says that she'll do anything she can to make sure things work out.

      I have my own office at home and my fiance understands that when I'm working, I'm basically not even home.

      So I know this part of the equation wouldn't be an issue for me.

      What kind of financial responsibilities did you have when you took the plunge? Did you have a family etc?

      How long did it take you to reach your income goals etc?

      Really interested to hear more from other people who have done it.
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  • Profile picture of the author DannyDisco
    500 is a long way from 4000! I would be crapping my pants. haha.

    I've made a rule, that until I match my current salary in IM income, I will not quit my day job.

    You need to make sure you can sustain your current lifestyle first. Then make an extra push and double your income when you have more time.

    That being said. If you really believe you can make it, don't let anyone stop you.

    I'm speaking from the same paranoia that you are
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  • Profile picture of the author Randall Magwood
    Are you afraid of success? You shouldn't fear financial and time freedom. You should consider it as a gift.
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  • Profile picture of the author ryuchi
    I have seen the fear of a lot of marketers before. But if you do feel confident that you are capable of hitting that $4000 per month mark then go for it.

    You might be more capable than what you think and you just need more time for it. I know that you have a new baby to support and this is the best time to be with him -in his growing stage.

    Good luck with the start of your new journey!
    Ryuchi
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  • Profile picture of the author tumichael
    So do i I am working for a bank, a routine 9-5 job and honestly i don't like banking much. I am studying and working on IM really hard to escape "rat race" life
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  • Profile picture of the author dirtyhair
    Ben,

    do it man.

    Here's some thing u could do over the next few months though if you need more income before you do (and yes I made that jump but into offline SEO and now get good income from it., same with my business partner it took us about 12 months to grow that big):

    - scale up BIG TIME. write an seo plan and then keep rolling it out. site after site you gotta keep making them
    - find someone smart, get THEM to manage all your outsourcers (then profit share this guy he so he stays)
    - be prepared to work 70 - 80 hrs a week sometimes

    working full time is easy, you rock up they pay you, you say "i'll see you tomorrow." running your own biz full time is way harder but you'll get there.

    good luck
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  • Profile picture of the author Surfer Liu
    Don't put all of your eggs in one basket. Continue with your 9-5 full time job until you can make $4K/month.
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  • Profile picture of the author melleni
    Its a big decision to go full time I sold a successful business to go full time IM in the 90's with a couple of kids and a mortgage but the proceeds of the sale and my wife working supported me through the first year. Not sure Id quit a full time job today to go full time unless my earning where enough to support myself and leave money to grow the business
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  • Profile picture of the author Gerald Arno
    Banned
    Originally Posted by Ben Armstrong View Post

    So I've been at IM for just over a year now while working a 9-5 job. I've worked about 7-8 hours a week building up a couple of niche Amazon sites in my spare time and make roughly 500 a month in completely passive income.

    My fiance and I have just had our first child, a beautiful baby boy who means the world to me and I want to do anything I can to build a lifestyle that will allow me to spend more time with him. So I'm seriously contemplating quitting my job and going full time with IM.

    My fiance no longer works at all but we have enough money saved up for us to live off for about 7 months, or more likely a year if my fiance works a couple of days a week which we have discussed.

    The catch is that within that time frame I need to go from $500 a month to at least $4000 a month.

    I feel confident that if I can make 500 a month in my first year with all the mistakes I made and what little time I had to invest that I can probably get to $4000 a month within a year but fear is still holding me back.

    I'd really like to hear from people who took the jump from regular 9-5 to full time IM.

    Were you scared?
    What held you back?
    What finally made you take the plunge?
    Did you wait until your IM income had equaled or overtaken your regular income or did you just make a leap of faith?

    I'd also like to hear anyone else's opinions or thoughts. Is this a realistic target or am I being too optimistic?
    I think most people are scared when it comes to taking risks and doing something they are not comfortable at.

    If you want to do great things, you have to take great risks too or at least be willing to take great risks.

    I don´t see why you shouldn´t be capable to go from $500 to $4000 per month.

    Develop a strategic plan of the tasks you want to implement. Think about what you are good at, and what can bring you that increase.

    If you don´t believe in yourself, you doubt yourself. You can only experience one state of mind at a time. Those who choose to believe always have more advantages over those who don´t.
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  • Profile picture of the author modernians
    Personally I did it part time until I established a good second income, then it was easy to quit my job
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  • I was scared when I quit my job to work full time in IM but it was definatly worth it and gave me the push to increase my income and work from home so I could spend time with my family more.

    Set yourself goals that you want to achieve. $500 in passive income is a great way to start, Work on building that up using the processes you have been using already. You could consider outsourcing to build up your income quickly
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  • Profile picture of the author Damien Roche
    I took the plunge! Although I didn't get into the IM game; I went into freelance web development. I moved out about 7 months ago to rent a house and now I'm moving back in with my (mum!) because I can't afford to live anywhere else.

    My biggest warning is not in taking the plunge, but in mistaking hard work for good work. I worked 12 hour shifts most days for pennies, to the detriment of my social life. I spent 4 years in one room and barely ventured outside to go to the shop. I committed my life to freelance web development and now it can't even pay the bills. You know why? Because, although I worked my ass off, I didn't work on a portfolio website (I stayed on freelance websites), I didn't leverage previous work, I didn't showcase my work to anybody, I didn't market my services outside WF or a couple of freelance websites, and I didn't scale the operation by hiring other developers and so taking on larger projects.

    Yes, I made a lot of mistakes, but my biggest mistake was thinking hard work = success. It doesn't. You have to be smart, as I will be from now on.

    To you, I'd say heed this as a warning. Have backups in place before you take the plunge; save up some money, achieve a steady figure (however small), and keep your eyes on the road far far ahead.
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  • Profile picture of the author tim_buchalka
    Ben,

    I too can relate to what you are saying - I took the plunge and left a high paying consulting gig and over 20+ years of software development experience to go full time in IM in 2008 with virtually no substantial savings and little to no income.

    You know in some ways "burning bridges" as I did actually forced me to succeed - I was driven by the need to pay the mortgage and keep the family together and eat, etc and for me it worked going cold turkey.

    There comes a time in life I feel where the saying "Just do it" comes into play.

    You've already managed to build up $500 per month in passive income part time, think about it - if you leverage your time what is stopping from getting to that $4K/month? Nothing as far as I can see - Expect to put some hours in initially getting up to speed and focus on what you are looking to achieve - leisure time to spend with the family and income on autopilot - Living the dream - I can say it does work (for some at least).

    I think it's a false economy in many ways when people say get your earnings up to $X per month and then quit - Whilst I understand why they say this (the security side) that fact is they are giving themselves a big out.

    e.g. When (If) I get to $X per month, then I will quit my day job - So there is really no pressure to perform because the When is an If.

    To me it's the same as when people say "I'll invest in my education once I am earning the income" when the reality is they need the education TO earn the income.

    If you want this to happen bad enough and are focus and committed it will happen.

    Best of luck with it.
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    • Profile picture of the author Ben Armstrong
      Originally Posted by tim_buchalka View Post

      Ben,

      I too can relate to what you are saying - I took the plunge and left a high paying consulting gig and over 20+ years of software development experience to go full time in IM in 2008 with virtually no substantial savings and little to no income.

      You know in some ways "burning bridges" as I did actually forced me to succeed - I was driven by the need to pay the mortgage and keep the family together and eat, etc and for me it worked going cold turkey.

      There comes a time in life I feel where the saying "Just do it" comes into play.

      You've already managed to build up $500 per month in passive income part time, think about it - if you leverage your time what is stopping from getting to that $4K/month? Nothing as far as I can see - Expect to put some hours in initially getting up to speed and focus on what you are looking to achieve - leisure time to spend with the family and income on autopilot - Living the dream - I can say it does work (for some at least).

      I think it's a false economy in many ways when people say get your earnings up to per month and then quit - Whilst I understand why they say this (the security side) that fact is they are giving themselves a big out.

      e.g. When (If) I get to per month, then I will quit my day job - So there is really no pressure to perform because the When is an If.

      To me it's the same as when people say "I'll invest in my education once I am earning the income" when the reality is they need the education TO earn the income.

      If you want this to happen bad enough and are focus and committed it will happen.

      Best of luck with it.
      I completely agree about the "burning your bridges" part. I think I even remember reading something about that in 'Think and Grow Rich' and it struck a chord with me.

      I know that if I did take the plunge I'd work my ass off to make it all happen.

      I'll be sticking with the day job a little longer but I won't be waiting until my online income reaches 4k. I think if I can get to 1.5k - 2k then I'll be pulling the trigger. It will still be a bit of a risk, but I see it as a calculated risk with a big payoff.

      Thanks for the support!
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      • Profile picture of the author tim_buchalka
        Originally Posted by Ben Armstrong View Post

        I completely agree about the "burning your bridges" part. I think I even remember reading something about that in 'Think and Grow Rich' and it struck a chord with me.

        I know that if I did take the plunge I'd work my ass off to make it all happen.

        I'll be sticking with the day job a little longer but I won't be waiting until my online income reaches 4k. I think if I can get to 1.5k - 2k then I'll be pulling the trigger. It will still be a bit of a risk, but I see it as a calculated risk with a big payoff.

        Thanks for the support!
        I think that sounds like a solid plan - If I were you I'd write down your goals and make sure you have a plan in place to leave the day job when it happens. Otherwise without written plans you might fall into the habit of thinking - "I'll wait until 2.5K or 3K, etc".

        The thing to remember is there is an element of risk but also just think how much more you could get achieved doing this full time vs part time.

        Good luck with it !
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  • I am sort of in a similar boat. I graduate from university in April. After that, I need to decide whether I continue with my current business (freelance copywriting + product creation) or get a job at an ad agency. I am doing pretty okay now so i think I'm going to continue with my business. But it's a tough decision.
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  • Profile picture of the author Damien Roche
    Consider this too: once you've took the plunge and earned money online, returning to a 9-5 out of security is one of the hardest moves you'll ever make! It is harder to swim back, than it is to take the plunge.
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  • Profile picture of the author ramblingrye
    Based on experience, it all depends on your priorities. The main reason for me deciding to quit my regular work were my kids. I figured that although I maybe able to provide them with everything, because I was too busy I missed out on quite a lot in their lives. And kids grow up so fast, I didn't want to kiss out on anything else. My income now is not as much as it was when I both had a regular job and work-at-home stints, however, I did make sure that I'll be making enough for us to live comfortably still. Of course, I am working to improve that fulltime from home.
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  • Profile picture of the author Cataclysm1987
    The problem is, are you ready to scale it up or not?

    Everyone acts like that's so simple but it's not. You have to work harder and continue to find inspiring places to market and create value, so focus on knowing when you're ready to scale up and what money you are already making and once you hit the point where you earn more with your business than your job, THEN quit.
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    • Profile picture of the author Ben Armstrong
      Originally Posted by Cataclysm1987 View Post

      The problem is, are you ready to scale it up or not?

      Everyone acts like that's so simple but it's not. You have to work harder and continue to find inspiring places to market and create value, so focus on knowing when you're ready to scale up and what money you are already making and once you hit the point where you earn more with your business than your job, THEN quit.
      I'm definitely ready to scale things up.

      Most of my money comes from one website and it's ranked high enough to just outsource a small amount of backlinking for it.

      My 2nd & 3rd sites require a little more attention to get them earning more.

      I have an authority site that will take up a lot of time. Too much time whilst working a regular job.

      I'll focus on the first 3 niche sites for now and get them earning more, then if they can earn enough to allow me to quit my job then I'll focus on the authority site.
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      • Profile picture of the author jessiepadgal
        Originally Posted by Ben Armstrong View Post

        I'm definitely ready to scale things up.

        Most of my money comes from one website and it's ranked high enough to just outsource a small amount of backlinking for it.

        My 2nd & 3rd sites require a little more attention to get them earning more.

        I have an authority site that will take up a lot of time. Too much time whilst working a regular job.

        I'll focus on the first 3 niche sites for now and get them earning more, then if they can earn enough to allow me to quit my job then I'll focus on the authority site.
        I am loving this thread...mostly because it is so refreshing to see such a good father (my husband is a good father like you) and it is motivating to see someone working so hard to get to their goals. Taking real action, making real strides, and knowing that it will happen for them because they made it happen.

        I hope you will pop in occasionally to offer us quick updates to let us know how you are doing.

        I wish you all the success!
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        • Profile picture of the author Ben Armstrong
          Originally Posted by articlesforim View Post

          I am loving this thread...mostly because it is so refreshing to see such a good father (my husband is a good father like you) and it is motivating to see someone working so hard to get to their goals. Taking real action, making real strides, and knowing that it will happen for them because they made it happen.

          I hope you will pop in occasionally to offer us quick updates to let us know how you are doing.

          I wish you all the success!
          Thank you for the kind words.

          As much as I love and enjoy IM, my main priority in life is my son, and watching and helping him grow up to be a happy, healthy person is the most important job I'll ever have. Going full time in IM will help me do this so I'll definitely be putting everything I have into it.

          There's a fine balancing act to do between making time for my son now, and ensuring I can spend a lot of time with him in the future but I'll manage.

          I'll definitely come back to this thread and update it with my progress from time to time for anyone who cares.

          As of now I'm at just under 400 for the month so maybe my benchmark of 1.5k to 2k isn't too far off.
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  • Profile picture of the author Karan Goel
    I'd like to disagree to most people here in
    the thread. If you want to take up IM full time
    and are confident you can pull the 4k mark,
    quit your job NOW.

    Do not try to work side-by-side until you hit your
    target. That's a defensive mindset, a mindset of a
    loser.

    Just my 2 cents.
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  • I believe that, at some point, you have to take a leap of faith (and courage) and simply go kamikaze on it.

    Going full time is something that you'll need to do is you really want to make it in this game.
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  • Profile picture of the author dirtyhair
    Consider this too: once you've took the plunge and earned money online, returning to a 9-5 out of security is one of the hardest moves you'll ever make! It is harder to swim back, than it is to take the plunge.
    thats the truth. fear holds many in life
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  • Profile picture of the author David Hooper
    If your goal is to spend more time with the kid, why do something that keeps that from happening? I understand you're looking at a longterm plan, but the kid isn't going to wait...

    The big question-- would you rather spend time with the kid or go fulltime right now?

    Not saying you can't make both happen, but it seems like a ton of pressure to me, especially since your fiance isn't working. Could be a situation which causes you to make decisions out of desperation and those are almost never good.
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  • Profile picture of the author derekwong28
    I think one of the most important questions is whether it is easy to go back into your old professions if things do not turn out well. In my case, it is very difficult and therefore it took me a long time to do it and I was very careful. In the end, I was pushed since my daughter was diagnosed as being autistic.

    I went full-time at the end of 2005. Taking into account the equity in my properties, I had several years of living expenses saved up. Although my IM businesses were not earning as much as my salary at that time, I was confident it would. In fact, it did from years 2006 to 2008. Then things started going wrong in 2008 and I had a pretty bad year in 2009. Although I could cover my living expenses in 2010 and 2011, it was still quite a bit off from my best years.

    Another thing to think about is that once you have a baby, your living expenses would go up in an often unpredictable manner. I thought that I needed a minimum of $3500 per month for my family of four. In fact, I spent over $10000 per month in 2007. A lot of it was for therapy for my elder daughter. Now I have managed to cut back quite a lot.

    My message is that make sure you have a lot of margin for everything.
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