LESSON #18: Should I Quit My Day Job?

Up until this point, I’ve been covering many of the fundamentals and principles of success that will help you create a solid foundation for your business.

In the next lesson, we’ll move out of this phase, and begin to put together the pieces of a new business, but first I need to answer an important question that many people have asked me…

(Watch this video…)

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Main points:

  • Should you quit your day job? YES! But not yet. (*Based on two assumptions)

  • Conservative advice: Keep your job as long as possible. (90% of advice being given)

  • Liberal advice: Quit your job today.

  • I’m in the middle.

  • If your vision involves a life in which you’re no longer working at your present job, then at some point you will HAVE to quit your job in order for that vision to be fulfilled.

  • The only question now is “when?”

  • Questions to help you weigh the decision…

    1) Is your job hurting you? (If yes, it may be time to quit)

    2) Do you have a vision and a solid plan for your business? (If no, you’re not ready)

    3) Do you already have a written goal for quitting your job? (Could be helpful)

    4) Are you committed to the business? (Required)

    5) What do you have to lose? (If you have little or nothing to lose, it’s a good time to quit)

    6) How long will your savings last? (If you have enough money saved, it may be beneficial to risk some of your savings)

    7) How much income is your business bringing in?

    *Quit your job and go full time at the point where your business is bringing in the minimum that you need to make ends meet.

    8] What are you willing to sacrifice?

    9) Do you trust your gut? (And is it usually right?)

    10) Will you dare to do what others only dream of?

    Action steps:

    1) Decide whether you should quit your job.

    2) Decide what criteria you need to fulfill in order to quit your job, and then stick to it. (Don’t chicken out when the time comes)

    It is very possible that your job is holding you back from building the kind of business you’re dreaming of, so the sooner you can quit your job, the better. Just be wise about it!

    As always, you are welcome to post your questions and comments below. Feel free to let me know if you’ve made any decisions about quitting your job.

    Have a great day!

  • 261 comments on “LESSON #18: Should I Quit My Day Job?

    1. fidel pavot

      HI, ERIC THANKS FOR THE ADVICES. LIKE YOU SAID A PERSON SHOULD QUIT HIS JOB AT THE MOMENT THAT A PERSON INCOME FROM THE BUSINESS
      SURPASS THE THE INCOME IN THE REGULAR JOB, AND A BACK UP FUND IN THE BANK IN CASE THAT SOMETHING FAIL.

      Reply
    2. Viola

      I quite my job 2 years ago….I am making money helping local small businesses building websites for them and some online marketing.

      I would like to take it to the next level and also make some money simply as an internet marketer.

      I think I suffer from “going for the next shiny object” syndrome πŸ™‚ but I am working on focusing and not buying….

      I love not having to go to work for somebody even I am not quite making as much as I used to.

      Viola

      Reply
    3. gerald

      Eric,
      you have done a ton of work here for the purpose of giving and helping those who need it.
      I am very grateful for the selflessness you have displayed.
      Thank you very much.

      Reply
    4. Lloyd Hrdlichka

      I will quit my job as soon as possible.

      The criteria needed for me to quit is to be bringing at least $2,000.00 a month home since I currently bring home slightly less a month after taxes, and deductions.

      By the way, I always hear “Day Job” mentioned in any opportunity when they discuss quiting the J.O.B.(Just Over Broke!!)…But many of us(including me) work a “Night Job”, and I am home in the daytime(no big deal of coarse!!..lol!)…Friends, Lloyd.

      Reply
    5. Lloyd Hrdlichka

      My apology for getting behind on assignments over my New Year vacation to my aunt, but she is getting very old, and I wanted to see her before like many of the older relatives who have passed on…I will double up a day on assignments to get back on track…Friends, Lloyd.

      Reply
    6. Julie

      Hi Eric,
      Well, this one’s easy….I’m laid off and my husband, (Brian,) is waiting for disability to come through. :/ So right now it’s not too difficult tryin’ to match what we’re living off of. lol! I’m so glad that you now have the lessons archived. I’m trying to get through them as quickly as I can. (Between hitting food pantries, and calling utilities for extensions, trying to keep old vehicles goin’…yada-yada.) Not wanting to bring gloom into this post, just a small picture so you can know why I am so thrilled with your teaching Eric! (And to say that any prayers on our behalf would be most appreciated!)
      My vision is to be able to have my business built before I get called back from lay off. (Which no one knows when that might be, so this can only be a hope, in which I pray for.) And also have it large enough before child support ends when my son turns 18 and is out of school in the next few months.)So hopefully I won’t be returning back to work, but have this up & going instead! πŸ™‚ And then make it continue to grow and grow from there!
      So let me close by saying God bless you Eric…immensely! We have a huge vision to fulfill, and we’re starting down low, from scrappin’ & scrapin’, but we know we’ll be endin’ up at the top, and helpin’ others along the way!

      Reply
    7. Bob McCormack

      Hi Eric
      Good lesson today. I found quitting my job the hardest part in getting my other business of the ground. Looking back I am glad I jumped into the deep end of the pool and did not wait for the nay sayers to agree it was time. But that is a personal decision each of us has to make. It is a hard decision but you have to also realize there are going to be many hard decisions later on in your business life. Sometime you have to be ready to make a decision and live with the results. Sometimes no matter what you do, no matter you work you are going to fail. It can be the economy, shortness of funding, decisions others make they can all have an impact on your business, so realize that some times no matter what you do you can fail. Accept it, make a decision and live with it. You will never know if you would have made it if you do not make a decision and go for it. It is always worth it in the long run. Failing teaches us invaluable lessons in life. Some of your best lessons have come through failure. So don’t be afraid of a failure. We all fail some just bigger than others. Failure is not bad. It is simply a person out there and doing their absolute darndest to make a business go and to be a success. And if you are giving it your all that is not a bad failure.
      Take care and work to your very best, the rest follows.
      Bob

      Reply
    8. brenda

      I do not know enough to plow on in my own internet business (no niche) so my gut is telling me to continue committing myself to Eric’s lessons because I feel he is pointing me in the right direction. So far all your information has been valuable. Exspecially the part ” Why have you failed at your internet business in the past?” I will truthfully say I was overcome with fear of failure as well as being to lazy to commit. I think I see the big picture much better now. Thank you Eric.

      Reply
    9. Pete Kici

      Eric
      I have been listening to all your training modules up until now,you are putting out excellent content I am guessing your a trainer and coach?
      My business quit earning an income/profit I closed it down,have a ton of debt and some savings.A lot of hype about offline marketing working with local businesses,whats your take on this and what would it take to speak to you on the phone?

      Reply
    10. Micah

      Hello Pete,

      Yes, Eric has been training others to have a successful online business since 2005!

      Because of the size of Eric’s Tips, Eric doesn’t currently take phone calls, but you are welcome to contact our helpdesk at http://www.ericsupport.com/

      Many marketers find great success in offline marketing endeavors as well! The same rules apply when it comes to quitting your day job.

      Many local businesses are starting to realize that they need to take steps to survive and compete in this world of growing monopolies.

      If you have an idea for working with some of your local businesses, it could prove to be a great opportunity for you!

      Reply
    11. Ed

      testing – Looks like my other one disappeared! πŸ™‚

      Reply
    12. Joe

      Eric, I have a taxidermy business, with a great web-site. I know where you are going here. My only interest is getting more traffic to my site. Is this something you can help me with, Thanks Joe

      Reply
    13. gordon meadows

      thank you just getting ready to launch new web master 3.o great advice,,,, πŸ™‚ Going to sell keywords and email addresses…

      Reply
    14. Micah

      Hello Ed,

      All messages have to be manually approved, which is why it might seem like they disappear when you don’t see it right away!

      Reply
    15. Darminto

      Thanks Eric!
      You gave us several options wisely. Sometime we make decision by irrational reasoning; but in other time by rational one; nevertheless, we also make a decision by in between.

      Reply
    16. Joe

      I think I am in a good position. I am currently 21 years old and live with a parent. I actually never had a job so I plan on taking full advantage of this situation.

      Thanks for the video!

      Reply
    17. Joe

      This teachings are great. But it will be better if these videos are downloadable. That way it will be easy to save them on my PC and watch them over and over again.

      Reply
    18. Eric Post author

      I plan on making that available later this year.

      Reply
    19. Chris Downs

      I have no choice in quitting my job or not. What a blessing from GOD to allow me to be focused on HIM

      Reply
    20. Karen Bell

      This is a simple decision. It’s a totally rational, numbers driven decision to make. When my IM business can replace the income & benefits I make from my job-quit! That being said I feel one needs to see a pattern of success & growth before they cut the “cord”. I personally need 3-6 months of increasing income before I bail. I am focused, organized, disciplined and funded so my success is going to depend on my copywriting skill, ultimatley. Learning under pressure doesn’t work for me. I am fortunate to work at home already & have my pay equal effort. I work under a 1099 so I am not an employee. I’m not waiting for the stars & planets to line up, I’m lining them up! What’s that they say?, God helps those that help themselves!

      Reply
    21. Dennis Ward

      Eric, I want to thank you for your tips and videos. I got into wanting to learn how to do something different TOTALLY Different. I’ve had alot of Different jobs since I was 10 years old, so I’m not shy to working hard at any job I wanted. If you look at the numbers in my email, then you know my birth date. I’ve had medical issures this year, that I’ve never before and I’m half way thru them, but I still have a way to go. My last day I worked was March 19,’11. The company I work for has no benefits and pays $7.25 an hour. They want me to come back to work, but I’m not going back going back until I’m totally well with everything. I’m getting Food Stamps now and SSN. So you see I’m learning all I can about being an Affiliate Marketer and making money and I see it, the SKY is my limit.

      Dennis

      Reply
    22. Larry

      Eric:
      Quitting my job is not a problem with me. I am retired. My plan is to make this project a success at some level and then show my children who are adults with decent jobs who may look at my success at internet marketing hopeefully and be convinced it is worth a try for them. At this point they are naysayers.

      Larry Marinetti

      Reply
    23. Frank Hernandez Jr

      Hey Eric
      I really like your lessons. As for quiting my job I am way ahead of the game. I have been on disability for 7 years . I was terminated from my 26 year steal working employment due to problems with my feet.I tried real estate for about 3 years but, it ended up in 4 foreclosures resulting from incorrect advice and bad decisions that I made. I have always been passionate about online business I got into eBay I have done pretty well but I love information marketing . I started about 10 years ago with Robert Allen and Mark V. Hanssen but never did anything and now this.
      I am excited . The reason for me wanting an online business most of all is so that my wife who was diagnosed with ovarian cancer 2 years ago and still fighting it with chemotherapy can quit her job and be able to rest more and recover completely by the Grace of God at home.
      When we got foreclosed on we lost everything we had and I had to move with family.
      I know that the best is yet to come in 2012
      Thank You Eric
      May The Lord Bless You All With Peace, Health and Prosperity.In Jesus Name Amen
      Frank HJr

      Reply
    24. 7mike7

      ALL OF MY COMMENTS SEEM TO BE GONE ONCE I POST THEM. THERE NOT IN THE LESSON I POSTED THEM AT,THERE NOT IN THE NEXT LESSONS POSTINGS. I CAN’T FIND ANY THAT IVE POSTED AT ALL. I HAD SOME VERY IMPORTANT QUESTIONS AND I DON’T THINK GETTING ANY THING POSTED AT ALL. HELP SOMEBODY… MIKE

      Reply
    25. Micah

      Hello Mike,

      If you go to lesson 15, you will see our reply. All comments have to be manually approved when we get a chance, due to the rampant spam that even the best spam blockers are unable to block.

      Reply
    26. michael smith

      Its hard to quit your day job when there is not any jobs out there to quit.I am what you call a newbie to the world of the web, and computers. But I keep trying to get things rolling. I have an autistic granddaugther which whom I have adopted and very proud of it. She has been a blessing in more ways than I can really describe to anyone. I was always terrified of computers, but the more I use them, the more I enjoy them.So much info! By finding Erics tips I have learned more from these and him than any other resource that I have come across and can really afford. The economy has had me down since the beginning of 2006. I saw it way before alot of some folks did. I am a trim carpenter/ carpenter/home builder/ construction industry by trade. And I really started seeing it along time before I wanted to and needed to.I am going to get a business started from home and intact which allows me to put most of my energy into making the girls life as it should be.She is such a great and caring child. It is a shame for her to be in the world she is in.She actually tells me humans should all use artificial xmas trees so the world could would be a better place for not killing trees. For that to come out of a eight year old child that is mentality behind her age and perception,just because of her condition and problems. It just brings so much love and hope to all of our everyday life and plans.We have had to struggle and adjust our way of life and everything we do to make the best of it for to take care of her.We are losing alot this christmas, material things, things that will be replaced, and then some!With all the info overload out there it is hard to believe what is real, and what really does means well.So thank you so much for all the honest and meaningful info I have been recieving for a part of my learning days! I try to listen and study them as much as possible and can! Especially in the wee hours of the night.So thanx again for what you have done and doing! And someday I hope that I can repay you for all the things you have done for us! Keep up the great work and enjoy! G.B.all and happy trails to all! MERRY XMAS TO THE WORLD!

      Reply
    27. Timoteo Uelese

      Hi Eric.
      Lessons were great I am following carefully and began to understand and am ready to see and implement the know how.
      Thanks

      Timoteo.

      Reply
    28. Todd

      Well reinventing myself is part of my vision and also forced by circumstances. I have a 20 year mainframe IT background, but have been unemployed for over 2 years. After the crash in 2008, there was no work, then very limited openings with high requirements. Now I am considered too rusty having been out of work so long despite my resume still getting me calls. There is some truth, but I have a mind and know where and how to look things up if I don’t know it off the top of my head. Besides that technology has changed and I need to go in a new direction.

      My ebay store Odd and End Collectables selling personal possessions and that of friends on consignment has been the only thing that has keeping me afloat just barely the past year. It has also been a lot of daily work to maintain a daily cash flow from it. That also cuts into the time I have for studying internet marketing.
      Having purchased the basic Instant Product Engine from Eric, I really appreciate these daily messages and pointing me toward using Simpleology for focusing on my Vision and Goals.

      I also have info overload from what I have studied from various Gurus or IM authorities. Some are clearly scammers and very manipulative or intimidating in getting people just to buy. Once you get their product it is flawed and there is no support. Thankfully Clickbank has such a strong and easy refund policy.

      A few other smart marketers appear to have empathy for the little guy. They talk a smooth game, but once they get your email and phone, it is nothing but sales without quality. Their sales pitch made you believe their product was the absolute end all answer. Then once bought into, it is as if what you first bought into is NEVER ENOUGH or INCOMPLETE without the upsells! They totally forget what a tight financial bind I could be and indeed am in. I might want to upgrade later, but I first have to see what the initial product I bought can actually do for myself BEFORE blindly spending more money with them. For me all those Upsells totally lowers their credibility and my trust in their product.

      I am am also fed up with the so-called training webinars which just end up being another sales pitch. Granted there is some educational value to a very small number of them, but I find most are out and our scams and lies like Rainmakers! I could go on and on about a lot of them. It is a real shame when a trusted marketer partners with a high dollar miracle product scammer for the sake of a webinar because of some partnership deal. To me they sold out.

      There are only a very small handful like Eric who has my respect and trust on the info given.

      Reply
    29. violet

      I like to base my decisions on the scriptures. Jesus stated β€œWho of you that wants to build a tower does not first sit down and calculate the expense [or, count the cost], to see if he has enough to complete it?” (Luke 14:28)

      COUNT the cost.” β€œCalculate the expense.” Thus counseled Jesus Christ, the wisest man that ever walked on the earth. He spoke those words in discussing the matter of a person’s becoming one of his disciples. Nevertheless, they state a principle that can have wide application in our everyday affairs. How so?

      With regard to acquiring material possessions
      If we learn to say no to our self we won’t have a constant need to acquire more than our needs.

      Young folks may persuade their parents to make purchases of some costly items needed for pursuing a particular hobby, only for the youngsters soon to tire of it. Is time, energy, and attention to make such an investment worth while.

      Teach our own children to live with-in their means. Our time is more important than things we buy them. I know there is a song everyone must know that illustrates my point. “The cats in the cradle” by Harry Chapin. Google it and listen to the words.

      Is our old toaster good enough, or do we really need a new one just because the old one isn’t pretty enough.

      So basically my answer to if we should quit our job is first get your priorities straight.Don’t become materialistic or Greedy and learn to live with in your means.

      To stay awake at night and wonder how were going to pay our credit cards off is tiring and hard on the not only our pocket book, but as our health, and mental well being.

      Jesus gave us some advice.(Matthew 6:25), We all need basics food clothing etc. And to have a sense of being satisfied. We all need a job that makes us happy. But some take on more added responsibilities than need be because of needless debt. So start with changing our life style. One thing at a time. Baby steps.then you can make your mind over because your no longer under Pressure to make more money. We all think better with less weight on our shoulders.

      Reply
    30. Marija

      Hi Eric,
      I have nothing to loose to set up a new online marketing business and I trust my gut that this is possible, even though I started 10 months ago without any knowledge and skills. I have learned some basic skills and want to follow those who offer step by step approach to understand what I am doing in development a new business. Thank you Eric to help me! Marija

      Reply
    31. zainudin

      I watched your lesson18 twice.
      Thanks for the advice,Eric

      Reply
    32. Ken Helmke

      Excellent advice!

      Reply
    33. Rene

      Hello Eric,

      I am looking for an Lead Generation Software. I need to create landing pages and lead generation paged with it. Please give me some suggestion.

      Thanks,
      Rene

      Reply
    34. Donny Jack

      Hello Eric,
      I have just under 5 years to go to retire.
      so my goal is to have my online business
      up and running so I can live the life that I could not do on my day job.

      Have the freedom to live and travel

      Thanks Don

      Reply
    35. Jessica Danielle

      Retirement and Fully Living Life should not be done when you’re 65-70years old. It should be done NOW! Whatever age you are. You only live once but at the same time you have family who also needs to enjoy life as well. Investments help! Noone wants to work forever, so here’s a good way to set the bar not only for yourself but for your family. jessicadone24.com Peace and Prosperity πŸ™‚

      Reply
    36. Mark Lewis

      Thanks, Eric. Well i have being working that assessment for some time now, and i am no where ready to quit my job. My bills, right now, exceed my my monthly pay. That’s why i am deeply interested in starting my own business.

      Thanks, again!

      Mark

      Reply
    37. Lewis Hathorn

      Good morning, Eric:
      Lesson 18 probably applies less to me than the
      other 17. Reason: I am retired, and I recieve
      a monthly income. However, it is not sufficient
      to live the lifestyle I desire. And for years
      I’ve dreamed of owning my own business. So you
      still have the program I need.

      Reply
    38. rudy

      I have been there and like what you are doing. Can I add this tip? First what type of financial committment do you have tied to your job? Consider how old and where you are at. for instance if you are 40 with a family or 24 and single your decision process will be different. Third you must make the decision one way or another once you have played out your trial period. Do not quit before your trial period you established is over. Why you must then make a decision is because if you cannot you really have not made a firm decision and committment. You cannot ride horseback on two horses at the same time without getting injured. Careers are the same. Thanks Eric from Rudy

      Reply
    39. Barbara

      I wish I could say OKAY! but I am in my late 60’s and I cannot afford to quit my job at this time. I have to at least be bringing in a certain level of money every month, then I can quit my job. I am an independant contractor, so I can take a little extra time off and work from home. My dilemma is finding my time is working with others in the internet business who are available when I am off. I find I waste so much of my time trying to get in touch with people even though I email them and set up a time to work with them. Seems most people are not committed to a schedule.
      If I had someone else to share the household income and they agreed, I would do this full time.
      Only I will know when the time is right. I wish I was 20 again…life would be so different!

      Reply
    40. Max Miller

      I retired several years ago from a career that I really enjoyed, aviation and aerospace. 20 years ago my wife and I started an internet business for some pocket change. IM has been fun and interesting. Many of our customers have become personal friends. Our advise to anyone contemplating Internet Marketing, go for it! Eric has excellent advise. Pay attention.

      Reply
    41. Max Miller

      No Barbara, you don’t want to be 20 again. You have learned so much since then. It takes some smarts to be an independant contractor. Stop, think about it and put it to use.

      Reply
    42. Dan

      Hi Eric I remember a boy’s scout motto
      “BE PREPARED” Knowing what you have and then utilizing what you have is a prerequisite for all scout members.
      The question of when to quit your job depends on the income you are drawing,your commitment to your family and your responsibility towards them.Don’t forget your monthly quotas such as insurance,house payments,club memberships,etc.
      If one is free of these undertakings and only needs to take care of life’s daily needs then I say we will be ready to quit our job within six months period.That’s what I plan to do and is already making plans to move into that direction.
      Doing a great job,Eric.Not only is your video short and simple but you are able to induce one to take action after one has listened and completed a lesson.I believe I will be able to carve a success story with your guidance.

      Reply
    43. maria truett

      Eric like everytime you make us really how easy thing could be when you have the knowdlege to do thing the right way. Thank you for you dedicatiion. I feel confident because I could feel your words come from your heart for our best. God Bless you.

      Reply
    44. chrismilsom

      Hi Eric,what would your advice be regarding tax if you choose to go full time and quit the day job.

      Reply
    45. Serena

      Quitting your job is such a huge step. I would not advise anyone to do that. Quitting your job should be a rewarding experience as a result of already succeeding on the internet and analyzing whether that new income is sustainable and scalable enough not only to replace that job, but to provide a better solution and income.
      I currently am self-employed and I make my income from the internet, however, I will continue what I am doing now which I know makes money and learn this new business model in parallel. That way I have less stress and am more likely to succeed at the new business by providing the time and effort it takes to succeed.

      Reply

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