I Quit My Day Job and So Can You!
- Comments: 9
I have spoken to several people about the topic of quitting your day job and pursuing entrepreneurship full time. The question in the back of everyone’s mind is, “Can I do it?”
I like the old saying. “Whether you think you can or you can’t, you’re right!” Meaning that if you think you can do anything, you truly can do anything. Our minds and frame of reference play a huge role in what we do in our lives.
People have asked me how I knew it was the right time to quit. I tell them there is no right time and no wrong time to quit your job. What I tell people to do is create a plan.
My backup plan has been, for long time now, to become a financial advisor. I have put myself in a position, according to my work experience and my education level, to be eligible to be a financial advisor. I have 4 years of sales experience including 8 months as a licensed banker (Series 6, 63, Life Insurance) at JP Morgan Chase. I also graduate in December as a Marketing major from the WP Carey School of Business at Arizona State University. My backup plan has basically been realized.
Coincidentally, my business is doing well and my business partner Nate has volunteered to help me discover new ways of making money online. We also have a new venture that we are pursuing full speed ahead.
I really feel like the timing is perfect!
To me, after years of 5 or so years of working for someone else, just being self employed, seems like a gift. The ability to create something and earn income directly because of my own efforts, is definitely right up my alley.
So how can you quit your day job too?
One must realize that there is never a “perfect” time to quit his/her job. There are however, things you can do to help get things moving in the right direction.
I always recommend people have a backup plan just in case everything goes wrong. Make sure that you have the job experience and education level so that if your business failed, you could immediately get a job and still live a comfortable life. This is just for piece of mind more than anything else. There are plenty of stories of guy going to work for themselves and making great money, and they didn’t have anything going for them. So it is possible to be successful without having the right education and job experience. Where there is a will, there is a way!
Here are 5 other tips to help position yourself correctly:
The number one most important thing you need to do in order to quit your day job is take action. Create a plan, and then take action!
I quit mine and havnt looked back, I love teaching others how they can do the same
I wish I could do this, but I am in no position financially, and I have a wife and 2 kids to support. I like making money on the internet as a side job, and if I ever start making enough to support myself, I will quit.
My backup plan involves me getting an MBA, which I will start next fall.
Great tips there Josh! The eating out is a biggy. You can waste somuch money eating out. If you’re eating out for lunch every day at six bucks or so plus eating out at night for the same, you’re looking at or around 4000 dollars extra a year (that is if you do eat out on that regular of basis), which is a lot of money for most people.
Working for myself and a small group of entrepreneurs, such as ours, is awesome. It is about time you are self-employed, man!
Great post, and excellent advice! Another important thing to consider is health insurance. A lot of people who are considering quitting their jobs don’t realize what a large cost this can be.
wow you’re SO right about everything in this post! i went part-time at work on august 1st and i’ve pretty much aligned myself with nearly everything you’ve said. lowered my expenses, trying not to eat out, my rent is low, no cc debt…etc… your plan seems like it’s coming together perfectly. nothing ever just “happens” - a proactive attitude can get you far. best of luck to you!
[...] Josh Mullineaux Talks about his experiences while leaving his day-job as a Personal Banker at Chase. Definitely an interesting read with some solid advice. [...]
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