You must have a plan to quit your 9-5 Job
Are you thinking about becoming an Online Business Guru. If this is you then there is a plan that should be followed. Leaving your regular day job and plunging yourself into the online business world can be a frightening experience for new comers. The best approach is to not quit your job straight away and burn all of your bridges. Look after all of the relationships, both business and personal that you have built up over the past years. These can become one of your best assets while moving forward. Some of these people could end up becoming a valuable of your team in the near future.
Starting of your online business while you still have a permanent job / income is by far the safest strategy. This way also keeps your stress level down and this in turn has a far better exit with your decision making. When you approach any type of business venture with the sole mindset of having to make it work and make money the decisions you make will most likely be incorrect.
You will have to choose the level of profit that you need for your particular circumstances from your online business before you can leave your fulltime position.
I Quit My Job
1. The Product or Service. You will have plenty ideas of what you want to sell onto a market. Most of these will not be profitable but you have to test them out. Make sure that you enter a market that already exists and has a good deal of completion in it. This is a proven market do not try and invent a new product for a new market this will untimely end up as a failure. A plan has to be in place that covers all production costs, overheads, distribution channels factored in. This determines the selling price of your product / service.
2. Remember in this world. We only make money when we sell something to real customers. Selling to friends and relationships do not count, it is the people that you sell to that you do not know that count. Having a product / service that is reusable on an ongoing basis is the ultimate prize. This is the goal that you should be planning and heading towards. We classify a customer as the one-off purchaser and a client as a continuing that purchases on an ongoing basis.
3. To be profitable in the long-term. It is your responsibility to build up a data base of clients that are repeat buyers. For an online business this can be easily managed by a autoresponder service that collects and records the names of buyers so you are able to build up a long term relationship with these people. These clients end up on a data base we call them subscribers. With this subscriber base we will be able to send them out news snippets, up in coming offers etc within our online business.
4. Forget all the hype you see online how you can make these great streams of money in a matter of months without have to do hardly anything for it. That is all rubbish, a real business does take time and energy to develop. The time frame can be anything from six months if you're lucky to 1 to 2 to 3 or more years. This is what 97% of people do not want to know about.
5. Funds. Make sure you have sufficient funds to back up your new venture. If you are buying things for your dream out of your grocery money then you are irresponsible to yourself and are not good qualified to be successful with an online business. This way is recognized as an outright gambling approach to business which is practice with danger. Setting up a business has a calculated gamble risk element which is okay.
6. If you are to leave your fulltime job to Pursuer your online dream then make sure you have enough funds stashed away to cover you for at least 12 months if you were to not make a profit from your online adventure.
I Quit My Job
The plan is to get your new offline business to the point that it generating a minimal profit that you require before thinking about leaving your day job. The best scenario is to leave on good terms so the door is still wide open if you wish to return. Another tip is to negotiate a 12 month leave of absence from your employer It is all about building a great relationship network.