How to Quit Your Job to Blog Full Time, My Plan To Do This in 10 Years
The answer to how to quit your job to blog full time has actually a pretty simple equation to it, but with this being said, has an extremely difficult execution plan to it, and as all top entrepreneurs say, the idea is nothing, the execution of it is everything. What the plan on paper for this is basically boils down to, maintain your 9 to 5 job and save as much money as you possibly can, use your nights and weekends to build up your online business, and then when your website is making enough money, and you feel you have enough cash, investments, and income sources built up (combining everything, interest, dividends, savings, internet revenue and any other income that you will have during the time after you hop out of your job) to supplement your lifestyle while still growing your business, that’s when you can hop out of your job to go all in on your business.
For me personally, it is going to be an extremely long time before I can do this voluntarily, and it could very well take me a decade or more to pull this off, which I am fully okay with as it is the financially smart thing to do. With this being said, even if I was making say $20,000 per month on my websites, which I am nowhere near that at this point, if you have a career that is bringing in say another $100,000 per year…why the heck would you leave that job in order to scale up your business?
You could just dump $100,000 per year into your business, for like tens of thousands of articles each year, or even an employee or a second business….and you still have your job! I get it, on some level, time is more powerful than money at scale, it is the only thing you can’t buy, and if you are someone who is 26 years old and has nothing but time on his hands and say $30,000, then you have a better chance at making a start-up company work than someone who is 43 years old and has $1,000,000.00 but also has a family, has to drive his kids to soccer practice, etc. etc.
It is very difficult to pull off without dedicating a major amount of time to it, and is something that is virtually impossible to pull off without a massively long commitment to it. And so, let’s look at some things to be aware of when trying to quit your job to go all in on your business as a full-time job:
You will have less money
You may end up with a gap in your resume
You will have more time to work on your business
You will inevitably lose some structure
You will need to add in social activities to fill your day
You may lose some of your social network
You may lose creativity because of it
You may become an expert in your field because of it
It is a High Risk High Reward Strategy
Make Sure to Make Preparations Beforehand
How to Quit Your Job to Blog Full Time, My Plan For Pulling This Off
Okay my plan for this is pretty difficult to pull off and probably won’t manifest itself as possible until I am only 40 years old, at this point it is both more risky, because I am much older, but also less risky because I should have significantly more money. What I am thinking is I build up this website and a portfolio of websites while working full time and “climbing the corporate ladder” so to speak as I build up my business with a majority of my time at night. In 5 or 6 years I genuinely think I can be making $5,000.00 per month off of just this website alone, and in 7 years I could possibly be at $10,000 to $15,000 per month.
Even at this point, I could possibly be making $100,000 per year at my job, and so it is probably not a smart move for me to resign my job. What I could do though is put $280,000 per year, basically my entire salary into building websites, I could probably, just off of that investment, get a website that generates like another $10,000 per month…for life…off of that money…and it’s a tax deduction, so it’s really only like a $200,000 loss, with a payback period of 18 months.
Back on topic here, after about 10 years I genuinely think I can be making $50,000 per month off of these websites, the math works every time I check it out, even though the amount of money I could have saved at 35 from all this makes it seem like a pipe dream ($1,000,000…I mean really? Yeah right) but it would be so cool to not have to care about getting fired, not have to care about your bosses opinion, or anything. You can just walk out one day, and you have $50,000 per month coming in from your internet affiliate websites….that is absolutely amazing and would result in like total victory of life….I think it is worth a shot just because of how darn cool it is!
My plan is to basically turn 35 and have $1MM net worth and a $60,000 per month online income, and then go to my boss and resign my job, which hopefully would be around six figures at this point. On top of that, I would deposit the money into one of their brokerage accounts to become a client and keep in touch with everyone, not only giving myself investments on my money, but also maintaining my connections, and keeping the door open in a major way to a really good finance job in the future…should I ever need it. Like I said…virtual pipe dream, but it would be darn awesome to be able to do this!
When It Is Feasible for Me to Do This, $50,000 Per Month?
I think at the $50,000 per month level it would be feasible for myself, or for anyone else to do this. Realistically, yes you could afford to quit a job paying you $6,000 or $7,000 per month before this…but it is only a profitable move to do this if you think that your time is that valuable by working on your business that you working an extra 40 hours per week on it is going to be worth more than you investing the entirety of your $7,000 per month salary into your business. This is likely the case at around $60,000 to $100,000 per month in total income, as I can imagine the business would need a massive amount of focus and manpower as well as money to scale, your time could very well be worth a lot more than $6,000 or $7,000 or even $10,000 per month at this stage, especially when you could quite literally sell the business for $2,000,000.00 cash at a level like this. So at $60,000 per month, financially, yes you have my permission to quit your job.
Why It Would Be An Amazing Satisfaction to Be Able to Pull This Off
Pulling this off would be so different from the normal life of go to college, get a 9 to 5 to pay off student loans, get married and have babies and get a house with more mortgage debt and work forever to pay it all back because you’re basically financially ruined. This life scares the living heck out of me and it is a reason that I don’t really date anymore, I firmly believe that I can pull off this being a business owner thing in a major way, once I pull this off, then I can go and live a normal life.
Why I Won’t Do This Until I Can Start Hiring Employees And I Am Making $1,000,000 Per Year
The goal is to hit $1,000,000.00 per year and hire employees at like $50,000 per year and train them to build sites. In my head, this sounds like a great idea, and I really do think that it is something that I can train, but with this being said, this is more a pie in the sky than anything. We don’t currently have monetization on any of our websites, and even if we poured it on fully onto this website we would maybe get between $200 and $300 per month, which isn’t even really worth the work of monetization, my goal is to 10x the traffic from 10,000 hits a month to 100,000 page views per month before doing this so we are at like $2,000 to $3,000 per month, now we’re starting to get into me being able to pay my mortgage with my website.
Final Thoughts On How to Quit Your Job to Blog Full Time, Why You Should Be Cautious With This
I always recommend being super cautious with this before quitting your job, make sure that you have plenty of blogging income before you do this, and make sure that have a ton of money saved and that it is financially feasible before you decide to make the jump. And as always, be sure to comment down below and to subscribe to our blog for additional details and information on all things business and finance!
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