When Is It Time to Go Full-Time?

[peder1001]

This is the truest statment i have ever heard on this forum to date.

By quitting your job, in advance you force yourself to be that person you always wanted to become because you have no choice, which means failure is not an option, and this is when a champion is born!

Great statement Bro!

And it also leads to desperation, and can screw up your whole life if it doesn't succeed. Not every business plan ends up viable. You ll be left without any money, without any source of income, and you'll default on your credit card bills. Not saying it doesn't make you work hard, it does, just some businesses, no matter how hard you work, will not necessarily lead to you being better off than when you were employed.

[jmeijers]

And it also leads to desperation, and can screw up your whole life if it doesn't succeed. Not every business plan ends up viable. You ll be left without any money, without any source of income, and you'll default on your credit card bills. Not saying it doesn't make you work hard, it does, just some businesses, no matter how hard you work, will not necessarily lead to you being better off than when you were employed.

You are absolutely right, and yet wrong . If you really aspire being an entrepreneur, this is the risk that is involved. The way I see it, is I'll be able to land a job any day. No sweat. So if I have the chance to be self-employed, with the risk of not making any money, I'll do it and keep doing it for as long as I can. I can always go into employment.

The thing is, I have done this twice. I started a business which didn't pay much and ended up failing. Then I had 2 opportunities for well-paid jobs. But instead, I scraped together all I had, took a look at how many months it would last me (getting rid of buying new clothes and other unnecessary luxuries ). It would last me 6 months, and we really struggled, but today I make a decent living out of that company.

If I had chosen to go into employment, I would certainly not have had such a good time as I had now. Drop the certainty and do not bet on two horses. I have seen many people 'entrepreneuring' next to their job, and they all failed. If you want to be an entrepreneur, be an entrepreneur.

[bmiles]

When you can pay all your personal bills on time every month with no problem. This will come from your salary from your startup. That is the coveted point.

[marcoferrari]

When you are doing fine with your business and earning enough and you start feeling pressure to give more time to it. Natural transition!!

[Bakewell86]

i would like to say u can do it full time when u think u r ready for it....n u hav goood knowledge....

[xenex]

When your making enough money to cover yourself in the unlucky event of your business facing a loss in profit.

[irsadh]

Hi everybody,
I am new to this site.I hope this site will help me to understand quickly
I would like to say "hi" to all members Welcome to the forum.

[xenex]

Hi everybody,
I am new to this site.I hope this site will help me to understand quickly
I would like to say "hi" to all members Welcome to the forum.

Please say welcome in this forum else it makes threads go off-topic

Thanks

[Stucano]

When you have enough loyal customers, money and presence to secure your long term future.

[roberis]

Never quit your day job! Work for my own pleasure, comunicate with peaple, this is one of the most important human demands to comunicate with other people.

[zmonique2007]

It's time to go full-time if your salary as a patimer is not enough for your family's needs. Also if there is a good offer full-time job, why not grab it.

[amg2000]

Obviously everybody's situation is different. For me personally,
I waited to go full-time until my internet sales surpassed my
J-O-B income for at least six months. (In some ways I'm a
risk taker, and in other ways not so much!)

Brian

[EntrepreneurCoach]

All depends on the individual situation.

How much $ do you need to live?
How much savings to you have? (willing to tap into it?)
Can you make ends meet with the new biz right now?
Can you ever get the new biz off the ground if you continue to work full time?
How are you with risk?

I have witnessed many people dive in, head first, and make it happen successfully, and others do a gradual transition and then fail..and vice versa...there really is no right or wrong over-riding answer, it needs to be answered on an individual basis, and many other questions to consider.

That all said,

Dream big!

[marfalump]

By these descriptions, I should have quit my day job over a year ago. In my part time business, I already make double my day job salary. The income has been steady, and I can make my bills.

BUT - there is an element of fear. I don't know how stable my part time business is. It makes me money NOW but will it make me money in 5 years? 10 years? I am unsure of the market.

So, I will add - You should quit your job when you are amking 2 times your salary AND you know your business is sustainable.

[semmyw]

I decided to become an entrepreneur since I was on my collage.. when a friend of mine offer an MLM..that give me a lot of experiences.

But I start a full timer when I was deadly broke... LOL.. only couple of bugs on my Bank account and a laptop.. Start to offer a service. and right now My business is growing up.. Sorry if my English is not very good.