When should I give up the day job?

Did you start your business so that you could leave the 9-5 (or 8-6, or worse)? Maybe you didn’t think like that at the start, but now you can see it on the horizon.

It feels good, doesn’t it? Everything’s growing, new people coming on board, you’ve just had a promotion, won a fabulous trip and are having a taste of success. Yippee, the life of your dreams beckons.

And I don’t want to take those glorious feelings away from you, celebrate it all, you deserve to.

But people in Network Marketing (and other side hustles and businesses) often ask when they can/should leave their job and work their business full-time.

Well, it really does depend on your circumstances (if you’re married to Jeff Bezos, anytime you like would be a sensible answer). If you can pay all your bills, and get by without your wages or salary, fine. Go when you feel ready. But if you have commitments, or debts, and you need that income, then wait.

I was told a long time ago b y someone who knew his stuff, that you should work out exactly how much you need from your business each month, to cover all your expenses, and then wait until you have been earning at least that for six months.

Six months! Yes, and for two good reasons:

• You probably have bills to pay, maybe family, maybe debts and commitments, that makes sense, doesn’t it?
• If your business is your only income, and you have a couple of bad months, you’ll probably start to worry, feel a little bit desperate. Desperation shows, and is not attractive. Your business could suffer.

Wait till you have a financial cushion and feel confident. Develop multiple income streams, including a real passive income. Don't rely on one business or investment to support you for the rest of your life. Here's a suggestion to add to the mix:

 Then walk away and have a fabulous life!