Recently, my online business started making enough money to allow me to quit my job and strike out on my own. I’ve had to work hard to get to this point, but I attribute my ability to quit my job to the following 3 things (these are things you can do too):
1. Low cost lifestyle. My family moved and managed to reduce our expenses and rent to zero. Insurance, groceries, and gas are now our biggest expenses. Try to tackle spending with a unique downside in exchange for a consistent upside. Avoid cutting expenses where the opposite is required.
2. Give yourself time. I had to spend a few hours each day working on the business to get to this point. This meant that I had to reprioritize some things. Easy to remove things like TV and sleeping in were out. Those 2 things alone allowed me to gain the skills I needed to start earning a basic level of income before I risked striking out on my own.
3. Have a backup. I put a simple backup plan in place in case everything goes terribly wrong. I plan to go back to my old employers and ask to sign a 3-6 month contract. I can earn enough to cover my annual expenses in that short period of time and then I would go out on my own again. I made sure not to burn any bridges and did a quality job all the way, just to make sure I was welcomed back. The alternative plan gave me the confidence to act on my own knowing that I could always take care of my family.
That is all. 3 things I did to move myself to the point where I am completely comfortable being alone. They are not difficult, but they can be emotionally difficult, especially if you are attached to one area or are really addicted to television. It is something that must be overcome on the path to your success, so I suggest you start working on each of them today.
