How much did you have banked before you quit your 9-5?

While I didnt quit my job and go into AM I did quit and start my own business. I was in the process of getting everything paid off and getting some money put in savings when my 100k/yr job suddenly got turned into a 30k a year job. I decided that wasnt for me and that I was going to make it happen on my own at all costs.

It was the hardest thing I have ever done but it was well worth it and I would do it again in a heartbeat but I would never recommend anyone do it without at least 6-12months of expenses in savings.
 


.Hack said:
Ok real talk now. If you're not willing to take a risk you're not ready to quit. #DOWORKMAKEMONEY
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ferreal, i am ready to take risk, theres no better time than the next year to do this. it's going to happen, just a matter of when.

i just wonder if i'm doing it prematurely now since i haven't hit my goal yet. also, i don't hate my job or have a bad job at all. most ppl i know that quit hated their bosses or their jobs blah blah blah. i just hate that i don't have time to devote to gettin rich bitch.
 
I got paid out my banked hours for landscaping, so about $1200. Hadn't worked online in over two years, so was starting from scratch. About a month to develop the business, a month to replace my previous incoming (landscaping, so not hard :)), and a few months later was making more than double than my dad, an oil exec.

Lived with some family for the first few months while I got things going, and thinking back, that was actually one of the best times of my life.
 
leadsupplier said:
i definately agree that time management at home can be hard. I've experienced it on weekends/days off.

i'm just starting to despise that all i do at work all day is stuff that does not matter, nor do i care to learn more about. for instance, i develop reporting documents, i do a lot of photoshop mock ups and pretty simple formatting/creating of documents with a drag and drop interface. I'm very good at it and come up with designs that managers and execs boner over - thats my strong point. my manager however thinks i should be more well rounded and know more about databases, and creating schemas, attributes, and metrics. I have no fucking desire to learn any of that. he's really only looking out for my career to be well rounded, but i mean i don't care. if i was placed on a project where thats what i had to do, then leaving my job would be easier.

Edit: also, my job has no relation to IM at all. if anything i just rather be at a job that was in the industry. i rather work for myself, but if things got bad and i had to get another job, it would be in IM.
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If he's wanting you to use Access, which it sounds like he is, then yeah I agree about it not transferring to IM. However, if he's wanting you to learn SQL, take him up on the company footing the bill for you to spend time reading and applying it before you quit. I will say that knowing how to do amazing things with SQL will be one of the, if not the most important, most important things in automating your life.

Hell, outsource the mocking up shit and bring your own laptop into the office and work on your own stuff if you can. Get paid twice for doing your own stuff if your job is really that easily outsourced.
 
Rexibit said:
If he's wanting you to use Access, which it sounds like he is, then yeah I agree about it not transferring to IM. However, if he's wanting you to learn SQL, take him up on the company footing the bill for you to spend time reading and applying it before you quit. I will say that knowing how to do amazing things with SQL will be one of the, if not the most important, most important things in automating your life.

Hell, outsource the mocking up shit and bring your own laptop into the office and work on your own stuff if you can. Get paid twice for doing your own stuff if your job is really that easily outsourced.
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i do work on my biz when i can but i can't devote a whole day.

we have our own software. it's not easily outsourced.
 
30k a month what the fuck are you waiting for?

I had 0 savings and was doing some tutoring for around $500 a month. Expenses were around 2k so something had to be done. Started some SEO consulting, webdesign gigs and finally went on my own 1 year after going online in the first place.

Never looked back, no more fuckers to report to. Nobody will ever tell me what to do. But be aware of something, online shit is unstable like fuck. Today you may be making the monies and the next one zero. If you have the balls to deal with this crap go the fuck forward.


PS: To get things worst, at the time I started my wife was unemployed and I had a small kid needing to be fed. Take that for an incentive...
 
Time is money and if your even close to 30K a month part time IM, then working the 9-5 is costing you a shit ton of money.
 
How much are you banking per month from IM?

How are you generating the income (i.e. ppc, content site, arbitrage etc) ?

How many income sources do you have online?


I couldn't give you my advice without knowing the answers to these 3 questions first.
 
wickedDUDE said:
How much are you banking per month from IM?

How are you generating the income (i.e. ppc, content site, arbitrage etc) ?

How many income sources do you have online?


I couldn't give you my advice without knowing the answers to these 3 questions first.
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arbitraging generating rev

just have 1 right now
 
I got sick of working for other people, taking order nd doing stuff i didn't want to do. I quit on impulse with no safety net, and buit my im business from scratch in 5 months.

I dont think I would have succeeded if i had the comfort blanket of a job, especilly one where you pad out your working day to 8 hours, whe you could hve done it all in 5
 
guerilla said:
Definitely helped that I didn't have dependents at the time.
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Yeah, it really depends if you have any dependents. I had one years salary saved up (all of you should have a six month cash reserve by the way) when I finally quit.

If you're getting close to 65k/yr from your day job and your closing in on 30k/mo (360k/yr) from IM then save hard for two months and then quit. Alternatively, ask your work if you can scale back to 1-2 days a week.

One thing I've noticed when a lot of people quit their jobs is that they actually get less work done because they have so much extra time and start to not prioritize/waste huge amounts of time.
 
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It all depends on if you have built a career or not.

The only valuable thing you would be giving up on is the career you have built, not the money.

Even though it might be against popular opinion.. I would stick with your job until you have 100k saved in the bank.

Laws change and no one can guarantee that IM will generate money like this forever.

Save up 100k and go all in with IM. Take half your earnings from IM and invest in tangible assets and live off the other half.. do this for a couple years and you will be multi-millionaire in 5 years.

Don't quit your job unless you have a solid plan, and the right amount of money saved.

This is the model I used and still use today.

Compounding Revenue Streams.. nothing more powerful.
 
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tencentpiece said:
Yeah, it really depends if you have any dependents. I had one years salary saved up (all of you should have a six month cash reserve by the way) when I finally quit.

If you're getting close to 65k/yr from your day job and your closing in on 30k/mo (360k/yr) from IM then save hard for two months and then quit. Alternatively, ask your work if you can scale back to 1-2 days a week.

One thing I've noticed when a lot of people quit their jobs is that they actually get less work done because they have so much extra time and start to not prioritize/waste huge amounts of time.
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i tink i'm just gunna wait till i have 50k in the bank. that's more than i'd earn in a year from my job after taxes.

when i spend 8 hours a day at work to net $160, i know that if i spent 8hr/day working on my biz i'd net more than that
 
guerilla said:
Most people are delusional about MMO or work from home. If you're honest with yourself, you'll make better choices.

The hardest thing I have experienced, and I know others have as well, is staying focused, getting work done, and defining boundaries.
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What do you mean?
 
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