Many people know that in October of 2006 I left my day job (Electrical Engineer)?to work online full time, and i get asked all the time how i did it. Well today i am going to go over some things i did to prepare for that day but also how i came to the conclusion that it was worth the risk. ***
First thing I suggest to anyone is that if you are currently doing it as a hobby don't use the extra money to just have fun, use it to pay off debt. When i turned in my resignation at my day job the only debt i had was my mortgage, no car notes, no credit card bills. I was able to do this because i planned ahead and used the extra money i was making online to pay off those debts. I would highly suggest this to anyone that is considering leaving, that is if you have debt at all.? (If you don't already have one, build up a nest egg that you culd support your family for atleast 6 months, i recomend a year but 6 months will do.)
Second can i handle working from home or do i need an office. This is a tough call for many but was easy for me. I don't have kids yet only my wife, so i know the distractions would be minimal. I chose to work at home and so far it has been great. If i had kids i would probably have to rent out an office or build a seperate building or something so that they would know Dad is going away to work.
Thirdly and most important can you handle the ups and downs that come with working online. Talk to any person making money online and they will tell you about the ups and downs.?Server crashes, boots from google, hackers, Clients not paying, a fad dies off, the list goes on. With that you want to diversify your revenue streams and make plans of how you handle server outtages etc.. (if 100 up time but you will pay for it. ) Depending on how you plan to make your living online will vary your ups and downs greatly. For me i mainly do affiliate marketing, IF an offer gets pulled or cancelled that could mean hundreds or thousands of profit i won't be getting anymore. Do i panic…. well maybe a little but then i gain composer and move on to the next thing. But with that i also have a baseline of normal websites earning revenue for me thru various revenue streams. so even when i “panic” my earnings online will still more than cover my bills its more of man that sucks that i am not making that anymore.
How did i decide it was worth the risk??? Well it came down to a conversation with my wife as i was basically working two jobs and i enjoyed both of them. One working as electrical engineer from'8 to 5, and from 6 to 10 as webprenuer. As you can see doesn't leave a whole lot of time for family. So after much thought and discussion. I concluded i didn't want to look back on my like 5 or 10 years from now still working as an engineer saying i wonder what would have happened had i gone full time working online. That is what sold it for me as i never want to live life with regrets… plus what was the worst case… my wife would have to find a job and i would have to find a job. Not so bad of a failing outcome as most families both husband and wife work 8 to 5 jobs.? So from there i took the plunge into full time online work.
I do have one regret after doing this for over 9 months, I wish I had done it SOONER!
*** Please note that these are my thoughts an opinions and I am not a financial advisor. You have to make your own decision on how you want to live your life and what you want to do with your money.
