There will come a time when you are so excited by everything you are learning that you tire of getting up at six am to go to work, and are looking for that window of opportunity where you can quit your job, and go full time online.
Before you make that decision, there are a few things to consider, so you do not leave yourself high and dry.
Besides what you may take away from a job, like your last month’s pay etc., you should also consider what money you will be earning next month.
The important things to consider are your bills, and your living expenses.
Your current job pays these (maybe leaving you without a lot in your pocket) regularly, so you need to replace that with an income of sorts. Let’s say you need $1000 to cover your bills. Currently, your job is paying you $2000 a month, so you are doing okay. However, you have got the IM bug so bad that you do not even want to get up for work any more – so you are pinning all your hopes on selling a guide you have written. Firstly, if you can write, then you already have a skill that can be resold.
The best thing to do is of course ensure you have a regular wage coming in, that will cover you for at least a month, or will cover you residually. Naturally, if you are building up some websites that will eventually be your residual income, then you are not going to be able to quit your job straight away. Would it be best to flip these sites, by selling them on Flippa.com? This would give you an instant cashflow, that you could put away from your next month’s income. It could also give you a cash boost for launching a product, or paying for some good SEO.
Going back to the writing skill, if you are a writer, then you can write articles for a supplemental income, that will enable you to launch your products or sell your websites, whilst covering your bills and expenses. A good writer can earn up to $10.00 for a 500 word article. 100 articles in a month is easy to do, when you consider that is only about 3 per day. Later we will see which online services you can sell your articles on.
What if you cannot write? Well, in the next installment, we will discuss reselling other services, which can be just as lucrative as doing them yourself.