Are you a dissatisfied employee eager to become your own boss? Should I quit my job before starting an online business?
It’s a common question that we ask ourselves after discovering the power of leveraging the internet to make money online. It’s quite a difficult question to answer because it varies from person to person.
My take on this question is quite neutral… yes and no.
Over the past few months, I’ve received emails from my readers asking this very question. Today, I will go over why you should or why you shouldn’t quit your job before starting an online business.
Before You Job To Start An Online Business
Can You Afford To Quit Your Job?
Before you even consider quitting your regular day job, can you afford to quit? Do you have bills to pay for? There’s no point in starting a new venture and losing everything else in the process.
Personally, I couldn’t afford to quit my job, so what I did was I made sacrifices.— Instead of watching television and playing video games after work… I worked on my online business.
I also cut down on some of my expenses. I reduced the frequency of going out for lunch, canceled my cable television, and stopped shopping for the latest gadget(s).
With the money that I saved, I invested the money back into my business.
If you’re on the same boat as I was, then you shouldn’t quit your job. It’s definitely a little harder because you have to work a regular day job and focus on building your online business at the same time.— You’re probably going to have to make sacrifices as I did.
Do You Have An Emergency Fund Set Aside?
There are many people who had a successful transition from being fully employed to quitting their job, and starting their own online business. You can do it too, but I recommend that you have an emergency fund set aside first.
An Emergency Fund will allow you to start an online business and still have money to pay for all expenses while not having an income. This reduces stress, so you can focus on making your business work.
Most experts advise that you have 3 to 6 months of living expenses put aside, but my recommendation is to aim for 1 entire year. This gives you an assurance that no matter what unexpected event occurs, you are covered.
Is Your Online Business Idea Proven To Work?
Starting an online business is great, but will it actually work? Is there any proof? Don’t try to reinvent the wheel and just do what’s proven to work.
My business focuses on the affiliate marketing/blogging industry and it’s proven to work by many successful people.
However, if you’re unsure if your business idea will work or not. You should due diligence and research before proceeding with the idea.
Are You Ready For Disapproval From Your Family and Friends?
People are automatically skeptical about things they don’t understand. That’s why some people believe in spirits and some don’t.
Some will tell you that you’re wasting time…go get a real job, etc.
Those are all valid, but you shouldn’t allow that to stop you from pursuing your dream. The fact to the matter is, they’ve never been told that it is possible to make money online.
Also, most of the make money online methods are scams, so you can’t blame them for being skeptical.
Are You Ready To Sacrifice Sleep?
There’s only so much time during the day for us to be productive. Are you willing to sacrifice sleep for success? If you want to escape the rat race, you have to be one step ahead of everybody else.
While your friends are sleeping in for the weekend. Are you willing to wake up early to work on your online business?
I remember waking up in the middle of the night because I had a content idea. Instead of writing it down and finishing it the next day.
I decided to get out of bed and get started while the idea is still fresh.— Are you willing to do the same? This can be tough for people who work a regular day job.
Are You Okay With Not Making Money When You First Start?
The internet is plagued with false claims on how you can make money fast with minimal to no effort. This mentality is the reason why most people fail. Are you okay with not making money when you first start?
You can ask any successful individual whether they are an online or offline business owner if they achieved their level of success overnight.
I can guarantee that their answer would be no.— It takes time to develop a brand online because nobody knows who you are at first.
The secret recipe to making money online is: Traffic + Conversion = Revenue
You can start an online business, but how are you going to get the traffic? That’s what takes time. You can either pay for traffic or gain them organically via SEO (Search Engine Optimization).
My Final Thoughts
Before you decide on quitting or not quitting your current job to start an online business. You should consider all the questions above. Some people can handle not having a job, but others would not last a month without income to support their living expenses.
Starting an online business is like starting any other form of business. It requires times time and effort. Unlike a regular job, you don’t have a set salary, but you have the potential to earn much more money.
Even though you can develop your online business more quickly by quitting your job, but the stress from the lack of income and the ongoing living expenses can distract you from growing your online business.
Keep in mind, an online business is not a gateway to get-rich-quick. Most experienced internet marketers will describe an online business as a marathon.
I hope this article was helpful! If you have any questions, please don’t hesitate to leave a comment down below and I will try my best to help you out.