Statistically, I’m one of the “lucky few” to have actually been able to make money online as an affiliate marketer.
There aren’t many that can say this, I believe the number is at around 96% of people who try to make money online quit before they ever make that first $$.
If you are wondering whether you should quit your job to make money online, then this post is just what the doctor order for you as I’m about to give you my own experiences and my thoughts about it all.
If you want a quick answer, then here goes (but I’m afraid you are not going to like it).
No, you should not quit your day job to make money online… yet.
Don’t get me wrong, I’m all against the whole 9-5 slave system we have going on but quitting your job before you are successful enough to stand on your own to feet is not only dumb and irresponsible, but it will also hinder your chances of success.
Remember, at a 96% failure rate, the odds are not really in your favour so every little helps here – keep that job and make money while you build your new “online business“.
What You Need To Quit Your Job And Make Money Online
First of all, you need to have an online business.
As I said already, it’s simply an amateur mistake to simply quit your job without having any sort of income coming in.
I will explain why having a job is actually an asset to you right now, but I simply had to say that again to keep you from making any rash decisions.
You haven’t started an online business yet?
Well, that is where you need to start first.
There are a lot of ways you can make money online. Personally, I use drop shipping and affiliate marketing as my main money-making sources with a few investments here and there (in crypto mostly) to continue building for the future.
I will not walk out though as to how to start an online business, I do have a lot of posts on the subject on my website so here are some of the biggest and most comprehensive guides on how to get started online:
- How To Build Amazon Niche Websites
- How To Invest Your Affiliate Marketing Profits
- How To Make Money With Print On Demand
- How To Make Money As An Amazon Associate
I also have a free training course that is currently open for you to join, If you’re interested, all I would need is your email address and I’ll see you on the inside.
Why Is It Irresponsible To Quit Your Job To Work Online?
I make a lot of money online.
However, I pay myself very little (less than minimum wage) because I am funneling all my income and all that I can afford back into my business and back into my investments.
This will quite-literally guarantees that my business keeps on thriving and growing, however, I do need cash flow to do it.
As @garvee once said:
Cash is Oxygen.
And without cash, you don’t have much of a chance of making money online.
Yes, I know you’ve read that you can make money with zero investment (I even write a guide about that) but you’ll just be making it incredibly harder than it has to be (not to mention stressful for yourself).
Even with dropshipping, (many ask me how to get started) – the recommended start-up capital of dropshipping is much bigger than affiliate marketing – we’re talking about at the very least $1000.
Let’s say you do have $1,000 to start your business, that’s actually fantastic and it can get you very far but what if it doesn’t work?
What if you spend your first $800 trying things out and nothing seems to be working?
This is where fear and panic sets in and this is also when many beginners end up quitting, thus becoming a part of that awful statistic mentioned above.
If you can manage to hold down a job, then you know there’s always money coming in.
Yes, you can start with $0, but it would be a hell of a lot easier (and faster) to manage, test, and grow your business to levels where you can actually quit your job if you have a solid income coming in from a steady source.
“I Want To Quit My Job But I Need Money”
I get this reply on my email list every once in a while. I am not sure if the person is actually expecting an email from me with a $1,000 attached to it or what?
It takes money to make money.
Actually, it takes a lot more than just money but money will allow you to at the very least not be entirely stressed out while building your new online business.
How To Know When It’s Time To Quit Your Job
If you already have an online business up and running, then next I am going to tell you how or rather when you should quit your job and what to have ready.
If you’re still not at this stage, I again refer you to the free training course offered earlier to help you get started.
So, ready to make the jump to online entrepreneur? Here’s what you need to have:
Making Enough To Supplement Your Job
If you make as much online as you do offline, then you are ready to start thinking about quitting your job to go at it full time online.
Ideally, you want to make sure you’re earning more, but I know you’re super eager to get on with it.
Also, note that you do not have any expensive expenses. If you are making $2,000 off your job and $2,000 online, you might have some expenses that you got when you’re earning $4,000.
Remember that it will soon go to $2,000 a month again so plan accordingly. Hence why I said it’s better to be earning more than your job before you make the jump.
An Emergency Savings Fund
As I said, I don’t like having to worry or stress out about money too much. I do have these instances every once in a while and they are dreadful and completely throws me off my balance.
To make sure I minimize this as much as possible, I made sure to have an emergency fund ready for the waiting.
My suggestion is that you have 6 to 12 months worth of expenses already saved up. This way, worst-case-scenario your business suddenly goes to $0, you are at least covering the basics and not homeless.
Consider Debt, Family, Etc…
I made the decision to go full time because I do not have any debts, mortgages, family to care for etc..
If I did, I’d probably still be working a normal job.
Make sure you have all the basics covered and you do not put yourself (or your family) in an uncomfortable situation.
A tip I’d also like to add here is to learn how to manage your money. You think you do, but with managing a business, things can get pretty twisted pretty fast so make sure you are on top of your money 100% all the time.
How To Quit Your Job and Make Money Online
To give you a quick roundup here:
- Start your online business if you haven’t already.
- Save enough to be able to cover all expenses in the worst case scenario.
- Manage your money (and time!) wisely.
- Go for it.
If you have all the basics covered, then good luck to you. You are about to embark on a challenging journey for sure but one I think you will love and enjoy.
I have learned so much about life and business since I quit my job to work at it full time.
Again, I’d like to offer a helping hand here and invite you to join my training course (click on the banner below).
The way I managed to pull this off is with affiliate marketing and this is the best training course I ever have done.