Quote from: kevinpro on July 16, 2018, 04:34:40 AM

I know that depending your financial life with the online world it's scary, right?

In the mean time it's a thing that all of us want to do? You want to jump on it as soon as possible?

However, I know personally (IRL) and also read a lot of stories when people just like you did a huge mistake.

They left their 9-5 job just because they read a post on Business Insider how a "College Drop Out Starts Million Dollar Company" and a lot of other intriguing stories.

Well, some of them are true and some not.

Recently I read a great blog post that talked especially about this phenomen.

I bet you read this before you take a decision whether going full time online or not.

#1. You Know How Much Money You Need to Survive Each Month

So, for one or two months, track all your expenses, and when youre done, divide them into two columns: essentials (food, rent, utilities, debt payments, etc.) and luxuries (Netflix subscriptions, nights out, etc.).

#2. Youve Earned Enough Side-Income to Cover Monthly Expenses for Five Months Straight

Now, once your side income meets your minimum income goal, you may be tempted to send your resignation letter straight away. But if youve earned a consistent side income for five months straight, you can feel confident you can keep it up once you quit your job (especially since youll have more time on your hands).

#3. You Have a Financial Life Raft That Will Sustain You for at Least Six Months

To avoid a crushing financial crisis, youll need to save up enough money to cover your essential expenses for six months minimum. Its the smart entrepreneurs contingency fund thatll give you the time youll need to get back on your feet or, if necessary, find a new job.

#4. Youve Had Your Side Gig for at Least Six Months, and It Still Excites You
If youve already worked on it for six months alongside your day job, and you still feel that ping of excitement, youll know its what you truly want. On top of that, youll also prove to yourself you have the self-discipline to succeed.

#5. Youve Written down Your Short- and Long-Term Goals

Doing this means youll stay on the right track to business success. If you ever find yourself struggling to meet your goals, youll discover it in time to change direction, and not too late to avert disaster.

#6. Youve Mapped All Your Activities for the First 12 Weeks After Quitting

You need to establish momentum early on, which you can only do through consistent and continuous action. So your best safeguard against productivity sabotage is to plan with military precision.

Type up a detailed twelve-week action plan, so you know exactly what youll be doing each day starting from day one. Then, start doing. Its your recipe for success.

#7. Youve Identified Two Alternative Work Locations
Prepare yourself with a list of at least two alternative work locations that enable you to be part of a crowd while working for yourself. Look for local co-working spaces and coffee shops that offer free wifi.

In many cases, sitting in a coffee shop for a few hours each week as you tap away on your laptop can be the perfect antidote for loneliness.

#8. Youve Recruited at Least Three People for Support and Accountability

Its impossible to survive, let alone thrive, in the entrepreneurial world alone. If youre serious (and I know you are), you simply must surround yourself with people who support you and people who hold you accountable.

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Hope this at least shed some light on the right decision you will take. Grin

If possible start working on your goals while you're still working full-time and if you are atleast 80% sure that it will be successful and have enough fund to sustain your lifestyle then it's a good time to quit.

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