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.

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.

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.

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!

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

I wish you good luck.

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.

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

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

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.

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

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

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.

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

[DELETED]

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.

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.

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.