Before you quit your day job, there are three main factors
to think about. Eliminating your debt, building an emergency cash fund, and
purchasing health insurance. Besides the main factor of increasing your passive
income, taking a look at these factors are also important before you think
about entering into Internet Marketing full time. Internet Marketing will seem
shaky at first and having an emergency cushion will help set your mind at ease.
Quitting your job means that your steady stream of paychecks and benefits will
all disappear. Be sure to take care of that by yourself before you quit or you
may find yourself in a worse situation. Getting rid of your debt, having a year
of emergency savings in case your business goes bust, and having health
insurance are good starter points to think upon.
Before you quit your job, take a look at your current
financial situation and balance the benefits versus the risks. What would you
do if your income stream were to stop right now? Would you be able to survive?
Can you still make money even if one income stream were to dry up? Are you
diversified? Think about your reasons for starting Internet Marketing and what
your motivations are. Why do you want to start your own business? What is your
ultimate goal? Why do you want to make money for? Asking questions such as
these will allow you to help create a plan that will determine your future.
Why did you start Internet Marketing? What made you decide
to quit and enter full time? Is it the prospect of freedom? Creating your own
hours? Being your own boss? The fact that the more you work on your own
business, the more you will make? The prospect of freedom and the ability to
travel. If you work at a job, you’re stuck to the same location, you can’t
leave. Internet Marketing allows you to be anywhere at anytime and still be
able to work on your business, as long as you have Internet. If there was ever
a time you wanted to go something, this would be the time to go, money
permitting.
If you run your own business via Internet Marketing, you can
choose the hours that you work and you are your own boss. Your work hours are
flexible and you direct what you do at any time. If you want to work sixty
hours, you can do so. If you want to work twenty hours, you can do that too.
Although you do want to keep in mind that the less you work, the less you are
paid later. Working for someone else nets you the same amount of money no
matter what you do. Your compensation will never equal the amount of work that
you put in. In Internet Marketing, that is different. All of the hard work you
do today will pay you off tomorrow. The more you work, the more you will be
paid. As long as you remember that you may not see the results for at least a
year, you shall be fine. Most businesses don’t make a profit for their first
year, Internet Marketing is no different in that aspect.
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