Do you want to quit your job? Want to go full time in your network marketing business or other entrepreneur endeavor?
Here are some suggestions to help you do just that.
Before we go into quitting your job, lets find out more on why?
One of the questions I get from many of my team members are: “Should I quit my job and go full time in my network marketing business?” Another question: “When should I quit my job and go full time in my network marketing business?”
My response to the first question is NO. Don’t quit your job. Unless you are making at least 3 times your job income with your network marketing keep your job. Why?
Let’s say you your job pays you $50,000 per year. Your network business is also at $50,000. Your income is now $100,000. By quitting you cut your income by 50% or back to $50,000. For most people that is too much too soon.
Now let’s say you earn $100,000 in your network business and your job pays $50,000. You my friend are making a good income of $150,000. Quitting your job now is only cutting $50,00 and is much easier to absorb. You can make the decision now if this timing is right.
The third example is 3 times your job income. In this example your network marketing business is earning you $150,000…fanatic. Add the $50,000 from your job and $200,000 is a great income. Quitting your job now will only cut your income by 1/3. Very easy to make the decision. Not the 50% in the first example. Less pressure and by now you have a very successful home based business.
Now don’t get me wrong, many of my team members who started with their home based business quit their job in a matter of months or within a year. These were highly motivated people with a mind set to do what ever it takes. These were the exception to the normal rule.
Time is going to b one of your enemies.
Learn how to better manage your available time. If you have been following my advice you may have heard me say “If you cannot build your network marketing business part time, you also cannot build it full time”.
What I mean by that is it is being effective with what time you have that matters not just simply having MORE time.
You need to know the basic of recruiting, advertising, presentations, rejection, training new team members and a host of others. This takes time and skills that most new MLM’ers don’t have yet.
To that question of quitting your job and if you are serious about wanting to quit your job here are a few things to consider.
- Not all jobs are bad, If you love your job, Great, keep rocking it but you just might consider growing a secondary income stream just in the mere chance that something doesn’t go the way you are planning. I know a lot of people who were surprised to be let go or have their company downsize unexpectedly. If they had a secondary income stream, it would NOT have hurt nearly as bad. In my opinion, add additional income stream for the unexpected. This is the lowest risk and lowest overhead way to grow an income stream with less pressure.
- Manage your available time if you want to quit your job. I built my business part time by working on my lunch break, less TV, going out with my co-workers after hours. Was is difficult? Of course. But in just a few short months I was earning an income from my MLM business. Many of my co-workers have moved on to other jobs and some have even lost their job. I planned to go full time and focused on being prepared when I did so.
- Keep doing a good job. Your co-workers should have no indication you aren’t happy with the job until you are close (month or so) to leaving. Often I see people become obvious about not wanting to be at a job so they get let go before they have the chance to quit on their own terms.
Network marketing can be very profitable when done the right way. Take your business one step at a time. Learn the basics. Focus on your goals and why you want to create a home based business. Knowing all this will make it much easier when the time is right for Quitting Your Job.
Did this help?
Look though other articles on this blog site for more information on Network Marketing tips and ideas to help you with your MLM business.
Thanks for stopping by,
