Unless you earn more online than from your full-time job, don't quit ( why would you exchange something you already have to something that have no -fixed- value ? ).
So far, I'm not earning close to what I'm earning in my full-time job. The problem is that I think I have huge potential with my online business as long as I have more time to use on my online business - jens -
I honestly started out in internet marketing, because I couldn't even find a job. I was weary about being able to come up with (and produce) money to keep me going, such as the rent and food money; but in the end I managed to do it. You really start to get a higher drive to do it, once you actually have everything else out of the way (such as the comfort of your regular sort of 9-5 job). Yes it can be rought at first, but my suggestion to you, is to just go with it, if your gut is really telling you to. But you also have to want it bad enough, because if you start letting that "comfort zone" and level kick in again- you won't be able to ever push yourself to make more, or do more with your IM.
I would have at least 6 months in reserves / and making $3,000 on a consecutive bases for at least 3-4 months. Also making sure you speak with your wife and get her feeling on the the whole deal. (Significant Other support is important.)
Also planning to quit my job soon, just waiting for the right time. Would love to spend more time blogging =).
Honestly I wouldn't leave my 9-5. You can always make time to manage your websites and online business. I like the idea of two steady incomes in theses trying economic times.
Actually, it will depend on your options. If you think that working online will give you a better option then why wait for later? Another thing is when you are not happy with your job, that factor will make you less efficient with what you are doing.
Quit job when you think nothink can go wrong... That's nice you can work at home and earn more bucks than on your job place but first guarantee everything.
I would suggest roughing it out for now. Don't quit your job, and devote more time than you have been to your site. Think of it as working a ton of overtime. Really work on your site as much as possible despite how tired you are and so on. This will get you to a comfortable point sooner, and give you an idea of how well you'll be off if you quit your job. On top of that, when you finally do leave your job, working online will be a cake walk in comparison to working two jobs.
If you have health insurance on your day job, then take that into consideration. Also take into consideration any current retirement plans and other perks that your job may offer. Just because you make $1000 a week on your job and $1500 a week online does not make them equal earning, as there are other factors involved then just what is on the pay stub. If your employer is matching your 401k up to 15% then you must be setting aside 30% to make up that difference online! If your employer is paying $150 a month on your healthcare, then you too must find comparable healthcare... you may not be sick today, but gods forbid you get sick the week after you 'earn money online'.
I'm going to wait until my income matches that of my current day job income. And, I'm not going to be jumping ship until I do that for at least a few months in a row. I can't really afford too much of a paycut and unfortunately many things online aren't always consistent.
I would have to say that a few factors need to be in place. Business can be a fairly consistent thing, so as soon as you are consistently earning enough to live for a few months, then it might be time. Keep in mind though, that online businesses can be risky, Google can wipe out your profits in a heartbeat if it's google traffic that you are relying on. It's for this reason that you should probably have about 6 months worth of living expenses saved up in a bank account in the event of a disaster.
I moved to another country that was cheaper living than the UK, so I could quit my job and concentrate on my websites. Was a good decision cos like someones has said before, it is difficult to invest a lot of time and energy into your online business when you are working full time and looking after your family. Hopefully I will soon be earning enough to move back!!
That's the reason I'd like to work 100% online, because it provides me with more freedom. I can do what I want, when I want to do it. - jens -