When Is The Right Time To Quit Your Job?

Most people who start their own online business have one thing in mind: to quit their 9 to 5 jobs, but do you know when is the right time to do so? In this post, I will give you my thoughts on the right time to quit your job. 

Do not quit your job too soon.

The biggest mistake I made was to quit my job too soon. This is the thing: I started making some money and decided to quit my job to dedicate all my day to my online business.

One month later, the SEC suddenly shut down the company I was promoting. They did not even pay the commission they owed me.

Since I was making decent money from this company and directly promoting it without building a list, it hit me so badly that I had to start over.

The money was not coming in as it used to be and I was in a very bad place, my advice to you, Do not quit your job yet, and build your email list.

This time, I came up with a formula that helped me quit my job and dedicate myself to my online business without the risk of running out of cash.

When should you quit your job?

In my opinion, you should quit your job if you make three times the profit of your monthly expenditures in three months from your online business.

To make it easier let me put it into numbers, let say in order to live comfortable and pay your bills and food on the table you need $2000 per month, think quitting your job after making at least $6000 per month for at least 3 months in a row.

Why for three months, and why three times the income?

Here is my way of thinking: if you make 3X of the cash you need first, it proves that you can make money online consistently.

The issue is that if you are new, you can get lucky and make $ 10,000 this month and make $100 next month. You need to prove to yourself that you can make that money consistent.

The second reason for this is that if you make three times the money you need, assuming that you’re saving the extra cash, you will have money to pay your bills and put food on the table for your family for the next six months, even if you will get stuck like I did or something happens to your business.

If you lose everything, you will have at least six months to start over and build up your business without worrying about paying your bills.

For me, six months is a good enough time to start over and make money from your online business again.