Forum Moderators: phranque
I dont make much at my job. 30k a year. I've been with adsense for about 6 months now and make much more then i would at my job. With adsense and all of my other affilates i'm closing on 10k/month.
I've been thinking about quiting my job but i'm always affraid of just having adsense and affiliate income because you never know what might happen. Should i take the risk and quit. If i did i would have more time to develop and probably increase my earnings to 15k/month.
Don't ever quit your day job. That's steady income.
That's life. Just about everyone has left a job for a better opportunity. How many people would change jobs while keeping the old job. There are no guarantees or job security in any career.
IMO everybody who is still stuck at 9-to-5 jobs will recommend that you stay. But most people who have actually taken the plunge (like me, in 1999) will tell you that they would never want to go back to that life. There are no guarantees, but if you're earning 3-4 times what you make at your regular job, it sounds like you should be focusing on your own business full-time.
For a hard-working, successful, proven entrepeneur (if you are making a $10k profit/mo consistently), Time is your most valuable asset. The earlier most of your time is spent productively building YOUR assets not the company's, the better. I know you are doing that while working there but as incredibill pointed out there could be legal issues + if they find out they could just fire you anyway.
Quit as soon as possible and realize your dreams. Get out of that cubicle and dump that boss!
Now, having said that, the practicalities...I had plenty of money saved (3 years worth) when I started 4 years ago and it took me about a year to start seeing some income, so I spent a year of savings. You already have income, so how much you want to save depends on your comfort level and how hard it would be for you to get a job if your business bites the dust.
I would take the next few months to save whatever you can and diversify or however long it takes. If you are making $10k on one site then that should give you pause--ie. if that goes away how fast can you build it up again successfully on a new domain? Make a checklist of what can go wrong and how you will deal with it.
Once you are reasonably comfortable with your savings, diversifying your business a bit (there will always be some risk), I would say quit ASAP.
Hmmm... I'm going to need you to go ahead and quit that job. Yeah.... I'm also going to need you to go ahead and work a little harder on your site(s) with that extra time you have. Yeah...
FYI, in some states anything you do AT THE OFFICE the company owns so if you get caught working on your websites at the office, they might just claim everything you've ever done from your desk as THEIRS.
This one is something to watch out for. In most cases your employer wouldn't know what to do with your sites and wouldn't want them, but you never know. If they want to teach you a lesson or something, it could spell big problems.
Time is your most valuable asset.
I was going to say the same thing. What is more valuable than money? Time. You'll always be able to replace money or the things it buys, but even kings cannot get back lost time. Forget about the $30K. It's that 40 hrs/week that should concern you. I say this to myself all the time: I don't want to end up 5 or 10 years from now looking back and just seeing those years as a big wasteful blur of cubicle serfdom. Talk about squandering your time.
That said, I'm still stuck in the 9 to 5 myself at the moment. =( I'm not making that kind of loot yet from my sites, and my day job pays considerably more than $30K, which makes this a difficult one for me. I can't understand anyone who would keep working for The Man if AdSense is earning multiple times their day job income. I'd be out the door a lot sooner than that!
Sometimes in life you just need to pursue a better people-to-cake ratio. ;)
Once all of your visitors get accustomed to the same ads, you'd better have a whole lot more new ones (visitors) coming in.
The "revolving door effect".
(Did I just come up with that term? LOL)
I'll be interested in hearing how this case study pans out, and what other types of advertising StuntasticAudi will be employing over time.
Can we expect an eBook or similar in the future?
Hey- don't knock it, people have made millions with them.
Well tomorrow i'm going to do NOTHING!
For all those who remain at a job they hate, yet earn more online it's time for you to recover that wasted time and get your life back.
Don't ever quit your day job. That's steady income
I walked away from a 6 figure job and stock options over 6 years ago, best thing I ever did, and I feel kinda sorry for people that are too afraid to take the plunge.
I've been doing whatever I wanted ever since, no boss, no BS, no stress, and money piling up in the bank more so than when I had a "day job".
To be quite honest I think the "day job" and the "steady income" creates the spend-it-all mentality and makes people go into debt for crap they really don't need just because they know they can pay it off.
Last year, after ten years self employed, I got a job. I still do my Adsense and have other little side projects, but nothing beats having health insurance for me and my kids, child support taken right out of my paycheck, etc etc.
The job I got is easy and gives me lots of time to work on my web stuff. It also provides a huge amount of peace of mind. I no longer stress about my serp positions or how screwed I will be if I have a heart attack.
If you are making 10k a month, my advice is bank 7 of it, max out an IRA for the tax benefits, live like your poor for a good long while, carry no debt and save, save, save.
I walked away from a 6 figure job and stock options over 6 years ago, best thing I ever did, and I feel kinda sorry for people that are too afraid to take the plunge.
IncrediBill and StuntasticAudi... it sounds to me like both situations consisted of six-figure incomes, either via the web or via one's 9-to-5. I would think that most people who see a future in generating lucrative online revenues, would walk away from any type of 9-to-5 -- whether it paid six figures of four figures.
If I were in StuntasticAudi's position, I would probably keep the $30k/year, especially if it were 'free money' (i.e. sit in a cubicle, surf the web, no strenuous work, etc.) However, I can understand why other say it's time to leave.
But when you tell most Adsensers, who may only bring home $27k/year from their 9-to-5's; supplemented with a pitiful $1500/year in Adsense... most will not leave what they consider, "steady pay".
Boss is out golfing and you are working on your sites. And people wonder why jobs are being outsourced ;)
On a more serious note, I think your decision is absolutely correct. I don't think you are the 'play safe' type of person anyway. By concentrating 100% on your business, you should be able to increase revenues to substantial levels.
If, god forbid, things do go bad, you would have gained enough internet experience to survive and start off afresh. And as somebody else pointed out, you could always go back and get a job at a different company.
Frankly, it is a no-brainer.
IMO everybody who is still stuck at 9-to-5 jobs will recommend that you stay.
Nope. I'm stuck in a 9-5 job, and I recommend he get out and go for it. I'm in the position of *having* to keep the day job due to a chronic medical condition and the need for health insurance. (I'm unable to get private-party medical insurance due to said condition.) If it weren't for that, I'd be the heck out of there so fast you wouldn't even see me go. :-)
I do (like moishe above) recommend putting *every* possible dime into the bank, IRA's, CD's, savings, and whatever else investments might be appropriate "just in case." Earnings can go up and down as with any self-employment gig, so it's always good to have a buffer. Try to pay off any debts, stay debt-free, and save, save, save, invest, invest, invest. Talk to a good accountant/tax advisor.
That's my 2 cents.
JK
[edited to point out that moishe also recomended saving/going debt free]
[edited by: JollyK at 4:29 pm (utc) on April 11, 2006]
If you wake up on Monday morning and deep in your gut you are not excited to go to work, or even worse you are dreading it. Then I would say quit.
By no means am I suggesting putting your morgage or family at risk, if you are scared of what will happen look for another steady job first and then quit.
But honestly if you can't stand going to work then do yourself a favor and get out before you are 55, bitter, and stressed to the point where you will need 10 years of retirement just to get over your time at the office.
I'm in the position of *having* to keep the day job due to a chronic medical condition and the need for health insurance. (I'm unable to get private-party medical insurance due to said condition.)
But the real kicker is (am I allowed to say this here?) I actually like my job and the people I work with, and I'm there not just for the paycheck and the benefits but because I feel that my efforts are part of something important.
OTOH, looking at StuntasticAudi's situation, especially how he feels about his job and the fact that he already knows how to make money online, I'd say to go for it.
