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3 Steps To Earn Enough Money To Quit Your Job

by Steven Lohrenz

Recently my online business has started making enough money to enable me to leave my job and strike out entirely on my own. I have had to work hard to be able to get to this point, but I attribute my ability to leave my job to the 3 things below (they're things you can do too):

1. Low expense lifestyle. My family has moved and managed to reduce our expenses and rent to zero. Insurance, groceries and petrol are now our biggest expenses. Try to tackle the expenses with a once off downside in exchange for an ongoing upside. Avoid cutting expense where they require the opposite.

2. Skill Learning Time. I didn't know everything I needed to know about building an online business, so I gave myself a few hours each day in the lead up to going out on my own. I cut out TV and sleeping in to give me this time without sacrificing work, exercise and family time. Those couple of hours a day were the difference between confidently venturing forth and being scared of the future.

3. Have a backup plan in place. I made sure I didn't burn any bridges and did my work until the very last day of my job, just to make sure I'm welcome back. My backup plan is very simple. Go back to my former employer and contract with them for 3-6 months. The money I make during that time is enough to tide me over for an entire year. Find something you could do in order to make ends meet if things don't go as well as you hope. Keep it close to you to give yourself the courage to strike out on your own.

Those are the 3 things I did in order to build my skills and reduce my fears to the point where I confidently struck out on my own. They are really easy to do but they may be emotionally difficult, especially if you are addicted to TV or really tied to a certain area. If striking out on your own is your number 1 priority, doing the 3 things above will speed you on your way.

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Published February 10th, 2008

Filed in Business