Quitting Day Job To Focus On IM 100%

13 years ago

I thought long and hard about this very questions for years. Ultimately I decided I wanted at least 6 months income in the bank and that I was covering my monthly expenses with my IM checks.

That does not have to be your guidelines, but it is something to think about. It is nice to get up everyday and worry about getting traffic to my sites and not about how much money I was making. It takes some of the financial pressure off that way.

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RobinInTexas 13 years ago

Like Jeff said:

Originally Posted by Jeff Schuman

At least 6 months income in the bank and

covering monthly expenses with IM checks.

It's not like you have an unemployment check to count on. Many people take a very long time finding a way to make it here. The shine rubs off most of the shiny new objects in this business very fast.

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Aaron Doud

13 years ago

I believe you should do more to replace your income before leaving the job completely.

But if you know you will succeed (right now you don't, in fact you lost money part time vs making it) you could consider leaving sooner.

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TonyBabb

13 years ago

I say have at least 3-6 months income saved up and reduce your monthly expenses if at all possible. If you are currently making some type of income with your online business this will play a factor as well. If you aren't making anything you will want to before quitting your job.

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humboldt84

13 years ago

The hardest part is making that jump from your day job to IM. It is worth it, but it is also worth it to be prepared and being able to smoothly make the transition. Make some plans and set some goals; when you meet those requirements you set for yourself then you know the time is right to make the switch. I would suggest that you make your current salary from IM before you switch, but depending on your own goals you could make the switch sooner. I would suggest you check out a book called "Quitter" by Jon Acuff; he talks about what it takes to make the transition from your "day job" to doing what you really want to be doing! Good luck!

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dash0205

13 years ago

Just make sure you can manage the transition period especially the financial aspect of it.

I wish you good luck.

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Anne0521 13 years ago

Originally Posted by dash0205

Just make sure you can manage the transition period especially the financial aspect of it.

I wish you good luck.

I agree! Plan your future properly. Do not let go of that day job with no savings at all because IM does not guarantee immediate income. Sometimes it takes months before you earn enough money to keep you afloat.
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Affiliatestrading

13 years ago

Thank you so much people for the suggestions. I am in the process of saving some money before quitting my job. I actually don't want to quit my day job because I need financial support. Unfortunately, I am a such a slow learner so I need to spend hours and hours learning IM until I reach an "aha" moment.

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Joe Mobley

13 years ago

Originally Posted by Affiliatestrading

I am thinking of quitting my day job so I can give 100% dedication toward my online business. I think I reach a point in my life where I need to make a choice.

Lazy and undisciplined thinking.

Originally Posted by Affiliatestrading

I am in the process of saving some money before quitting my job. I actually don't want to quit my day job because I need financial support.

Smart decision. You will never know how much pain you will have saved yourself if you are able to follow through.

Best of luck.

Joe Mobley

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BeckyF3506 13 years ago

I agree with those that mentioned saving several months (minimum) to a year of bill money first before you leave your job.

I had to leave a job due to health issues, and I can tell you from experience, the stress of having no money to pay your daily expenses at the same time you're trying to build a business is much, much worse than trying to start a business on the side while you still have a regular job.

If your arms/shoulders are in pain, would you be able to transfer to another department for awhile so that you could keep your employment until you have your financial cushion saved up?
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esuresh

13 years ago

Think 1000 times before you take the plunge. No use regretting after that.

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megalinktraffic

13 years ago

Initially do it part time and once you are
confident to make the same or more than
your salary per month then you can ..
rueben

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PotPieGirl 13 years ago

I LOVE the idea of jumping out there and taking chances. However, you didn't mention if you had a spouse/children to feed and take care of. To me, that makes a big difference... If you do, I'd hold on to the "bird in hand" for as long as needed.

Jennifer
~PotPieGirl
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- Hapningnow 13 years ago
  
  I admire your "jump ship" attitude, but lots of stress can come from not having cash to pay your daily needs.
  
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  jjmags1219 13 years ago
  
  It may help if you can save at least 1 year of savings (equivalent to 1 year of daily expenses) as back-up support.
  
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BonganiS

13 years ago

Originally Posted by Affiliatestrading

I am currently working as a design engineer in a well established manufacturing company in Los Angeles area. The salary is OK but I am just getting tired of cubicle life and feel my career is getting nowhere. I tried IM for several months last year but I ended up losing money and wasting time. Worse, both of my arms were in pain for almost 8 months because I was under stress and consistently typing at my day job. I am thinking of quitting my day job so I can give 100% dedication toward my online business. I think I reach a point in my life where I need to make a choice. Any suggestion?

If you are having some form of other income that will take you through as you focus and develop your online business, it is OK to quit. Otherwise you would have to reconsider your decision.

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Gary Ning Lo

13 years ago

I waited till i made double what i was making with my day job before when going IM full time..

Also make sure that you have at least 5 month emergency cash at the bank.

Cheers,

Gary

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Monja

13 years ago

I agree what the others said before. have some money saved or the stress level will be much harder to stand than your day job.
however, it wont be without stress anyway but it is harder if there is no money left. good luck and consistency

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Igor Fridrihs

13 years ago

Almost all of us came from the same situation when you needed to make a decision. It is for sure you can get some money for living for at least 6 months and try to find your passion in IM soonest possible. Then make some research and find a coach. Stick with his program until you get positive results. Coaching is not cheap, but you save a lot of money compare to just buying products and earning nothing.

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zenji

13 years ago

I like that you have realized the cubicle is not worth it. I was in a similar position a couple of years ago.
Quit my job, tried IM but I wasn't fully prepared. Then got back into the "cubicle" saved up and gave it another go. This time I focused on my true passion, trading the stock market and juggling IM in between plus keeping one foot in my profession (engineering) with part time consultancy work that I do at home as well. It has been great so far.

I highly recommend saving up before quitting. Also, it would pay to gradually reduce your hours at that cubicle job until you are able to live off IM earnings.

The world is your oyster if you succeed at this IM or anything related to making money online!!

I would never go back to a cubicle after tasting the "GOOD LIFE" where I'm my own boss

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PaidAllDay

13 years ago

I did it and it was worth it. While I didn't see success right away, I did within 6 months of doing it when I made THIS my job. When I started pursuing IM full time I didn't have any stream of income whatsoever.

It was make it or break it and I didn't have much of a cushion. I ran it all the way down to the wire before I found a system that worked. I picked up Nick Chou's Easy TV money system on the Warrior Forum and that was my first major breakthrough. I made my first few hundred dollars within a week or so.

Then I created my own system, mainly so I could keep everything straight in my head. A few people followed it and made money. So, I kept expanding my concept and focusing on what was working. Within a few months I was hitting the numbers I dreamed of.

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talfighel

13 years ago

I think that you should do everything possible to start earning money online with your business.

You need to focus on on single strategy and then work it like it is IMPOSSIBLE to fail. It would be a good idea to find a mentor who is already successful and is teaching you his or her methods.

Everyday work on your business and find out what works and what doesn't so that you can devote more time to the things that do work.

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Jennwith2ns

13 years ago

When I went from my full time job to freelancing/writing, I didn't do any planning. I just walked into work one day, realized I despised it, went to HR and told them I was quitting. It was a very irresponsible way to handle it and the first several months were HARD. But I still don't regret it and now that I'm getting into IM, I really don't.

I do think a little planning and savings is good, but you can only plan for it for so long before it turns into procrastinating.

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Quitting Day Job To Focus On IM 100%

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