Are you looking for a way to make money online without quitting your job?
I know a lot of business systems out there try to encourage everyone to quit their jobs and to focus 100% on just building that business.
That may work for people who have some savings set aside or who have very few responsibilities or expenses.
However, for the majority of people, the added stress of quitting your job may prove to be too much when trying to start a new business.
How I Quit My Job and Struggled For 2 Years
Back in 1997/1998 I joined a network marketing company which just happened to be in the financial sector and in order to be able to make money with this company I had to get licensed as an insurance agent and mutual fund sales rep.
Unfortunately, at that time the laws here in British Columbia were such that they required anyone who wants to qualify for such licenses to be FULL TIME in the industry in order to do so.
So even though I had a stable job, I was forced to quit my job in order to pursue my new business full time.
I went from making a full time income, to making NO income overnight, and I tried to build my business with no savings, no income coming in and no customers (can’t sign on customers until you have a license).
At first I thought that this would work out really well as I now had a LOT of time to focus 100% on my business without the distraction of having to have a job.
However, as time went by I started to realize that building up my income may take a lot longer than I thought.
First of all, since my business required me to see clients in the evenings or on weekends when people themselves were home from work, the extra time I had from not having a job during the hours of 9 am – 5 pm Mon-Fri, didn’t really amount to any benefit anyways since I couldn’t really see clients during those times.
So if the laws didn’t restrict it, I could have easily had a day job which could have helped to pay my bills while I built my business.
Slowly I started developing a client base and started making some money, but it wasn’t anywhere near the amount I needed to cover my monthly expenses so I just kept getting further and further into debt.
After two years of trying to struggle with building a business from scratch, with no money and no savings and living off of credit cards I decided to do leave the financial services industry because of it’s ridiculous regulations.
How I Smartened Up and Got a Job Again
I got a job in the technology sector and was able to get rid of my financial stress by paying off my debts and actually having some money from my job to invest in the various businesses I started, which helped me to grow them much faster than when I was broke.
Over the years I have had quite a few people ask me if I think it’s a good idea for someone to just quit their job and focus on their new business full time right off the bat.
Everyone’s situation is different, but generally speaking I usually tell people that I do not believe it’s a good idea.
Personally I have found that it is much better to build a second income stream from an online business without having to quit your job.
Only once your second income starts generating at least 50% – 90% of your job income do I think you should consider quitting your full time job.
One of the reasons why I believe this is because the financial stress of quitting your job and having NO money at all coming in, will usually far outweigh any benefits associated with having more time to run your business without a full time job.
Meaning, I think you can be more successful investing 20-30 hours/week after work and on weekends into your business, stress free since your job pays your bills, than to have 60-70 hours/week available for your business but to be spending 90% of that time worrying about how you’re going to pay your bills.
The truth is that most business, especially when you’re just starting out MAY require you to invest some money into them, and any profits that you generate from your business may need to be re-invested back into the business to help it grow.
If you quit your job, and try to live entirely off of the earnings from your business, you’re essentially stunting and slowing down the growth of your business.
Best Way to Make Money Online Without Quitting Your Job
If you’re going to keep your job, and build your business in the evening and weekend, you WILL need to treat the way you build your business a bit differently.
Because your full time job will be taking up 40 hours out of your week which you could be spending on your business, you’ll want to invest in some time saving systems to ensure the remaining time you DO have set aside to build your business is utilized wisely.
Meaning, you have to stop thinking that you’re going to do everything yourself, and start investing in proper training, proper tools and a proper system for making money online.
The best system for making money online which gives you the tools, the training and the entire system required to start making money online is Empower Network.
It has a proven track record and it will save you a tonne of time and energy.
More importantly, it will allow you to start building an online business making money online, without having to quit your job!
Then, once you build up that income to a level you’re satisfied with, and you set aside some savings, then you can decide if you want to keep your job and just keep saving the extra money you’re making, or whether you want to then quit your job when you’re ready.
To me this is a much less stressful, and more fun way of building an online business, especially if you have responsibilities and bills to pay.
To learn more about the Empower Network system and to join my team, click here to watch a free video.
P.s. I’m currently accepting 5 more mentoring students for my “Boss Maker Mentoring Group” where I personally coach people to get to the point where they’re making $3k – $5k/m with Empower Network so they can decide what they want to do with their jobs at that point and the move forward to the next level. If you join my Empower Network team now you can get access to this group ( a $5,000 value ) absolutely free at no additional cost.
(Note – My group is for serious people only, who are ready to build a serious income online. Results are dependent on your individual efforts. See our income disclosure if you’d like.)
Thanks for sharing your past experience and perspective on this Paul. I agree that continuing to have a primary income source like a job or contract is a good thing to maintain until you have built your online business to a point where it is making enough money to take care of your living expenses and also allow you to re-invest into your business. It’s a lot less stressful and allows you to focus your extra time on building your business instead of worrying about how you’re going to pay the bills.
Yeah, it definitely makes it much less stressful when you can focus on your business instead of worrying how your going to pay your rent/mortgage the next month. You don’t get as much time to build your business, but in most cases investing 20-30 hours a week into a business is going to produce 80% – 90% of the results as compared to investing a full time effort into it but being broke and worrying about your bills all the time.