Tuesday,
June 24, 2003 5:34 PM
Are You Ready To Go Fulltime?
by Playa
Many people wonder 'when is the right time to quit your
current job and start webmastering full-time?' Full-time webmastering
is a very big step and you're gonna have to be prepared. With
the economy as shaky as it is, it'll be real tough to get
a decent paying job if your webmastering gig doesn't go
like you expect it.
How did I know when I was ready to go full-time? I already
had a decent mainstream job making over 70k a year. Then,
two years ago I had lunch with some of my co-workers and they
asked me how my internet business was doing. It never really
dawned on me 'till then, that my "part-time" business
was making more money than my full-time business. I had been
really comfortable
with the dual income. But it was becoming a problem when my
part-time business was taking up way too much of my time.
I was not allowing myself any free time for more important
things like being with friends and families. Both of my jobs
were overwhelming me. I had to make some serious changes.
I did some research on how to make a smooth transition before
I quit my mainstream job. Working for somebody else and being
a "yes man" was definitely not an option. I got
tired of always answering to someone and being a slave to
corporate America. This is what Icame up with during my research:
. Keep a savings of 3-6 months (depending how big
your family is). That should be enough to pay your bills.
If your business ends up going bust, this money will give
you enough time to find another job.
. Tone down your lifestyle. You might have been able
to get that better car
or that nicer house because of that dual income. Remember,
when you quit
that day-job that extra income will be lost!
. A couple of Credit Cards with high credit limit.
Use it like insurance.
. Most importantly save at least 30% of your monthly income
in a savings account!! Saving a minimum of 30% is very
important.
Being your own boss means you are responsible for paying your
own taxes. We all know Uncle Sam takes a big chunk of money
out of our paychecks every two weeks, but we get a nice refund
check at the end of the year. But with your own business you're
gonna have to set aside some money or you'll be assed out
when you find out you owe more than what you have set aside
for taxes. The taxman don't play.
Hope this helps out in making your decision.
Good Luck!
Playa
http://www.vidcash.com
http://www.playascash.com
icq#38147712
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