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Don't Quit Your Job Until

by Hammad Hassan 6 months ago in success
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I know it's hard to believe, but not everyone can quit their job and become a full-time entrepreneur.

Don't Quit Your Job Until
Photo by Kind and Curious on Unsplash

There are so many reasons why you should wait until you have an income stream before quitting your day job. I'm sure you've seen countless Facebook posts or Instagram accounts of people who "quit their jobs to pursue their dreams." But think about this for a second, how long will you survive without having a job?

Maybe one month or six months, maybe one day!

Here I am sharing 5 ways to get ready to quit your job:

1. Your Side Income Covers Twice As Much As Your Monthly Expenses

If you are thinking about quitting your job to start a business, then you should consider this one simple test.

Write down your monthly expenses and compare them to the amount of money you make through your side hustle. If you can cover twice as much in expenses as before quitting, then you are ready to go.

When I say expenses, I mean everything. Rent, food, travel, shopping, entertainment, and so on. And when I say twice as much, I mean it literally. As in twice. Not 'largely more'. Twice.

You know what? One of the things that is most important in business is to be successful in creating a secondary income stream. Many people fail in business because they think that you can only make money doing one thing at a time.

While this is true, there are some exceptions to this rule, and one of them is creating a side income stream. While your main focus is on making money with your brand, you should also strive to make money by other means. This will not only improve your financial status, but it will also help you develop and improve your skills and abilities, and will give you the knowledge.

2. Your Emergency Funds Can Cover At Least 6 Months Of Expenses

You should always be prepared for the worst.

When you get fired, laid off, or quit your job, it’s easy to feel like you don’t have a choice in the matter.

In reality, you do have a choice. You can either roll with the punches and survive as long as possible with your emergency funds… or you can panic and make some terrible life decisions that will end up costing you a lot of money.

A lot of people are so busy trying to increase their income that they forget about their expenses.

I have a friend who quit his job last year. He made about $53,000 in the last year. He told me that he wants to earn at least $100,000 next year.

He is putting all his money into stocks right now, but he’s not paying attention to his expenses. I told him that if he wants to make more money, he should focus on increasing his income instead of spending even more money.

3. You Are Skilled Enough To Make Side Hustle Your Main Business

We all like earning extra bucks. And we all like to get rich without too much effort. No wonder many of us dream of starting a side hustle that will eventually become our main source of income.

The problem is that very few people actually manage to turn their side hustle into a full-on business and make it the main source of income. The question is: why?

We live in a world where there are thousands and millions of people who want to make money online, but only a small number of them manage to do it.

If you want to be a successful entrepreneur, you must have a certain level of expertise in the field. For example, if you want to become a freelance writer, you need to have excellent writing skills and know how things work.

4. You Are Determined To Work Hard To Succeed

After you quit your job, you should be determined to work hard to succeed. You need to create a plan for how you are going to make the money that you need. This is because it is very easy to get discouraged when you have no money coming in. You will need to know how you are going to pay your bills and live without a steady income stream.

5. You Don’t Make Any Excuses

At first glance, it may seem that this is a problem. But in fact, many people have proved that if they want, they can work without regard to the time and create a profitable business online.

This is not about the fact that you can’t work 8 hours per day, 5 days a week and earn money on your business; it’s about the mindset of any person who works for themselves.

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About the author

Hammad Hassan

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