I am sure that many of you who are blogging or have a business, have or at one point worked a regular job. However, I always hear people wanting to quit early to focusing solely on their business.
While it seems great, logically it is not a wise decision. Food and shelter cost money. If you are supporting a family, then life can be expensive. Your business will not earn you tons of money right away, whether you are freelancing or starting an online business. It even takes money to start a business.
So, before you embark on a business venture, keep your day job, even if you hate it. It will be what helps you stay afloat if your business takes a while to get going or even fails.
Good point. Difficult to find the balance between earning enough money to live and doing what you really want to do. Requires a lot of hard work either way.
You mentioned the most important advice. Unless you feel financially secure even if your business fails, never quit the job
Great advise. I have to agree with you that the day job is important unless you think that blogging can cover your daily expenses. Even to maintain blog needs money
Solid advice, especially given the current economic climate and unemployment rates. Often times people start a business and quit their day job too early or for the wrong reasons only to find that they have to go back to work, potentially taking less attractive job for less money as they underestimated the need to generate cash to fund their lifestyle while trying to grow their business. Thanks for sharing.
It is true that you need to money to start a business, and proper planning should be done. However, sometimes you will not always find yourself in a situation to continue saving.
Nearly 2 years ago, while I was waiting to start my business full-time I lost my “real” job and was sent into a panic. That night I went home, realized that I was handed a golden ticket. I already had everything I needed for my business! I’m a web designer and had been freelancing for years, so the switch was easy.
I also had the added benefit of a spouse who works and has a great paying job so we weren’t hurting for money in that respect.
That said, I still made changes including selling off an extra car, and cutting other costs just to be sure.
When it comes down to it, my advice is to be careful and use common sense when going out on your own. Don’t load yourself with overhead, expand as you can with money that you already have, don’t overextend yourself.
nice post for those who think that blogging can become the main source of their income. its a good source to earn money but its not permanent. so first make sure that you are earning more than enough before quitting.
and a nice lesson for me.
Great post Nile,
I think there is big difference between what are you doing and what do you want But it is possible when you do it with fully dedication and other many factors.
You have added google plus how?
I think as long as you love what you do, you are never really working… THAT being said, you also need to consider how much money goes into loving what you do, because if your numbers are off, than what you could make you go broke.
Great post Nile and my apologies for the run-on sentence!
It is really hard to choose between quitting regular 8-hour job and be full time on business. Hopefully, when time comes I can quit my day job and have a full time business without any regrets.
Thanks for sharing Nile.
thanks for the article great point, its a though question.
First you have a beautiful theme for your blog. I like it. Secondly people quit because they don’t get desired results. but I will say just focus and try and try. You will be successful one day.
Love the graphic, and great advice. It took me about a year to start making decent money off my blog, and it takes a lot of persistence and hard work to get there.
This information is so vital. As much as people would like to pursue their side projects that they want to have full time, but it is best to be patient, especially these days.
You are right. Although day job is boring for an employee but it also gives you confidence to fullfill your dream by second job. Its very risky to left day job and totally depends on your business.
I wonder what percentage of people actually quit their day jobs way too early. I wouldn’t quit until I had one entire year of needed income in the bank from the new venture. Even then, that might be cutting things a bit too close.
I guess I’m one of those who quit my day job to focus solely on my business. I know it is risky and all but I think of it as an opportunity cost that instead of spending my time developing a business that can grow into something big, I am wasting time doing a routine day job that anyone can do.
This is a great infographic. while it may sound great to quit your job to go off and do something new, a smarter move would be to build up what you are doing on the side first. You have more opportunity to test and validate your ideas to see which ones work better than others.
Also other factors to consider would be to have extra savings just in case the idea doesn’t work. But as mentioned if the idea has been validated to work, then you have a lot more chances to succeed.
You make a great point about not rushing to quit your day job. It wouldn’t be wise to quit until your home business is making enough to pay the bills and you have enough in the bank to sustain you and your family for a little while. Have patience.
thanks for your nice post.i will try it.
It is very true that many blogger quit blogging very soon but its is also true that blogging needs patient and regularity . Thanks to the author for sharing this article with us
Well, I have to agree with your article post. Quitting or resigning from your job is not advisable most specially if you are just new in the business. It doesn’t guarantee that you will take your life or career to success. You have to be stable in all aspect before making your decision to quit from your day job. I’ve known some people who are so positive that they will succeed only to find out in the end that it’s too early to declare victory and they still need good experience and assistance.
We all get too excited, but it’s always better to be safe than sorry.
Great advice — I sometimes think though that being bare bones makes you hustle even more though
Very well said, quitting a monotonous job sounds great but there a certain limitations and we need to understand them. If one is able to make enough money out of it, then it’s fine but else, i will rather prefer to wait before quitting,
I told a woman the other day who was upset because she had not made enough money from her home business to quit her job that she could think of the job as part of her business plan. She needed the money she earned and it did help her keep the business going. The way to look at it is that she is not stuck in that job, she has a plan, and it would work out. I asked her to look at some of her co-workers who were unhappy on the job but did not have a plan. She had actually placed herself in a better position and something positive to look forward to. Patience and planning is key to making it to the next step.
I agree with this. However, I do think there’s something to be had in giving yourself no other option but to make it in whatever you’re pursuing because you don’t have a day job… but I guess it all depends on the individual circumstances…
Great advice Niles. In today’s economy, everyone should be looking for a second income stream.
Some valid points here! It is very difficult to make an efficient amount of money when you just start a business so it is important you have another job just to keep you financially secure for the time being. Starting a business costs a lot of money in itself so it is a good idea to have enough money to start with. When I started my own business I was still young so I only had myself to worry about but if you do have a family to provide for it is worth having a good day job that will keep you all secure!
This is a great infographic. while it may sound great to quit your job to go off and do something new, a smarter move would be to build up what you are doing on the side first. You have more opportunity to test and validate your ideas to see which ones work better than others.
job and blogging it’s hard to maintain both , mine is an irregular blog due to my job 🙁 . i’ll find a way soon , by the way good advice , keep the good work 🙂
That’s right Nile. If you start to become professional blogger don’t quit your job too soon because everything need preparation.
Before you decide to quit your job make sure that your income from business is better than regular job. Beside that make sure you have saved enough money as reserved money when you face trouble in your new business.
Thanks for your tips nile. It’s inspiring
It is very complicated for making an effective amount of money if you simply start a enterprise therefore it is essential you have a different job in order to hold an individual in financial terms safeguarded for now. Starting off a small business prices a lot of money inside of it so it is a great idea to help can pay for first.
Yes Mark starting a business is not an easy task. And it will take time to establish a business.
Interesting I had a second job for 5 years before I decided to go it alone, In that time I had the spare cash to invest into the business, training advertising etc.. loads of guys in my industry fail with a few years due to lack of funds.
I have been my own boss….not so exciting a times! lol! You work even harder and then all that freedom you wanted gets sucked up by your time consuming business….or maybe it was just my industry…if I could learn the right way to blog I would take the time to do it!
I don’t think that artist should quit their day job any time soon. The economy still needs to get better.
Yes, we should not quit our day job too early. It takes time to get success, we should wait for result.
in fact
you need money to make money online
if you have a job do not quit
you can save little bit your money to make money online
or just do a double job
hello nile
It is really hard to choose between quitting regular 8-hour job and be full time on business. Hopefully, when time comes I can quit my day job and have a full time business without any regrets.
Thanks for sharing Nile.