Earlier this month we started a new Entrepreneur Poll on deciding when it’s time to cut loose from your day job and go full time into your business. It’s a question that I get asked frequently from young entrepreneurs and I thought we could open it up to the Young Entrepreneur community for some feedback.
After a couple weeks of feedback the number one answer so far is:
When Your business is paying you more than what you make at your day job.
Some of the replies included:
“When you make more than your current job with the extra time you’ll put towards it. Although, it must also be a growing business.”
“When the profit being produced is more then your job, and then go full time if you can see your self in the business in 5 years time.”
“I agree with the others: when you’re earning more money running your business than what your day job pays. You shouldn’t quit your day job immediately after you earn a bit, I suppose you have to be earning enough for several months doing your own thing, and then you can quit your day job.”
Some of the other replies included:
When your business income is double your earnings as an employee for 3 months straight
Before you have enough cashflow and start by living off of your savings
Whenever you’re ready!
What do you think? When is the best time to make the leap and go full time? Cast your vote in our Young Entrepreneur Poll.