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…)
Main points:
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!
I recommended PLF2 because I’ve sold millions of dollars of products using Jeff’s techniques. The course is actually a similar format to Eric’s Tips, but it obviously focuses on product launches, rather than all the aspects of online business building.
The course is best suited for someone who already has a product, or one in development.
Hi Eric,
I’ve already quit my job since about 4 month ago.
Been wanting to start my own Internet Business for a long time and finally I decide to do it. And the thought of this online adventure sounds great. Even though I have never had much online experience I hope with your expertise I can pull it off.
Eric,
I am unemployed right now, so I have all day every day to build my online business. Do you recommend DaddyO for website hosting on wordpress.org? My blog is starting to really take off so I think its time to get a domain and design a website. I’ve given lots of thought to my niche and have reviewed lifetimecommissions.com with food niche in mind. I also checked out google’s articles on writing press releases and a whole lot more. “You don’t know what you don’t know.” Knowledge is everywhere and you have to be a sponge and soak it, then wring out the non-relavent and hype.
I’m really enjoying this course!
I recommend Hostgator, which I cover more in depth in lesson #24:
They do include the 1-click wordpress installer 🙂
It’s like a race for leader!
Eric
I love what I do and will probably never quit doing it. My internet business is an adjucnt to my existing business. Having said that, I appreciate this lesson because it made me think about how to prioritize my time and even consider the idea of sacrificeing my love of architectural design to some point, in order to fulfull my vision of Energy Efficient Green Construction Alternatives for all buildings.
Glad to see you did it ,i did too but don’t really have much online to make money with still working on it. GoOoD Luck
RobT
oh yea forgot this clicked.
Currently I am a captain who has not been assigned to a ship or a ship without a rudder. My job left me a little over three years ago due to downsizing and restructuring. The company moved the operations to a different state and did not offer to take any of us with it. I decided to concentrate on school instead of seeking another job. I also tried to launch my e-commerce business with little to no guidance — at least I have not been able to find specific answers to questions on eBay.
My coursework in Interior Design has turned out to be much more challenging than I ever dreamed it would be, requiring that I only take one class at a time. I am due to graduate, FINALLY, in December — if I can get my financial aid in place for the last two terms.
Anyway, since the decision to quit my day job was made for me, all I can do now is channel my energies toward making my internet business a success. Eric’s guidance is priceless in this endeavor. These lessons would have been so timely three years ago. I can only pray I make up for lost time and resources. Being broke is no picnic. In an ideal world, I would do all I could to make sure no one is ever poor.
Louise
My boss set me free 9 months ago. I started a small business but it is slow right now. Just enough to pay the bills. This is one of the reasons why I want to start this online business right away. Starting your own business is a great thing! Even if you are just “getting by” paying your bills, you are free. You can always grow your business but you cannot always get a raise when you have a job. Once you quit your job you will never work at a job again for the rest of your life!
Not ready to quit my job yet. But it is on the horizon.
Hi Eric,
Thank you for todays lesson.
I do not have a job to quit due to age and health. This oppotunity that you are giving is going to make me determined to suceed and come indopendent from here on in. Many thanks.
I already quit my job 2 months ago because the pain of sitting in a cubicle any longer was greater than the minor setbacks of starting my own business and if I continue to rely on it and trade time for money( 8 hours a day) I would not have time or enery to pursue my dreams. There came point where not quiting would cost me my dreams. I feel you can’t wait for the situation to be perfect before I start because then it will never happen. I am married and my husband I sold our house and reduced our expenses so that I wouldn’t have to work full time just to barely get but. We moved into an apartment ans cut our living expenses by about 1,500.00 per month which is a very small price to pay for my sanity and to realize my dreams.
Hi Eric prince here. I’m glaD you talk about what so many are confused about. Should you quit or stick with? As for me I always go with my gut because I know what my business will do for in the future my job will not. My advice to all new entrepreneurs is if even if you have a job, as long you can pay your bills and feed your family, put more time in your buisiness than your job. Yep that’s how I feel because no matter how many hours or overtime you work, your job will not give you the lifestyle your business will give you thats whats up. I’m not conservative and have no patient for a job. The job is set up to get your the company owner rich not you and your family. So go with your gut.
follow me http://www.twitter.com/sam1847
give it to him.remember a house built on sand will not stand as long as a house built on a rock soid foundation.eric is giving you the rock to build on you should be grateful for his insights.i for one want to build on rock thank you eric.
i agree with you these comments ae a very good part of the learning curve.i don’t think the lessons alone would as much without the feed back.i’m really behind looking at the dates on the comments but even so it allows me to participate in the discussion for people who come later than i.
ann: i’m in the same boat i have had two heart attacks.but they occured after i retired these lessons give me hope for a future best of luck to you on your endeavor may God bless.
as i said before i’m retired been out of the work force for 13 years.i hit my first goalof retiring by the time i was fifty it took many 70 and 80 hour weeks to achieve.i’m ready now to start my own olb.but before i got erics tips i was making costly mistakes i have 9 domains and no web site and no idea how to set one up.or even what to do with it. what do i sell?see i put the cart before the horse and paid dearly for the right.now i’m starting from scratch with erics tips.hopefully i’ll have something to offer by the time i’m done with the lessons.right now i’m wandering aimlessly in the internet market looking for an oasis.
Hi Eric,
I have not been working for 10 years now so I am ready to dive in full time and learn and apply all your resources and knowledge for business online marketing. I love to promote and sell. Thank You Eric I am so glad to find you on the net. Barry Charles Anderson
Another great video.
dyuane
I have already quit job,now start to prepare to build a business on online.as my job is tied most of my time,cant have time with family. my current liquid could last abt 3 months,appreciate advice on tips to start bsn right now. yeah,I just 24 years old right now, hope to build bsn to cover my exp in future,as feel that job’s income is not able to cover exp in future with inflation rate growth every year.
Thanks again for your tips and advice.
yeah with passion,goal…motivation..will help to pursue full time bsn.
Great advice Eric! I’m hangin’ with ya all the way. I can’t quit my job yet, but when I can it will be out of the way so I can devote all my energy to my business!
Hi Eric,
Very sound advice. I want to quit end of April 2010
Regards Butch
Eric,
You have made me see things differently now and I will continue to follow up with your lessons.
Thanks a million times.
HENRY
Hi Eric, Not sure if I will watch this one as I lost my job and going to be 60 in December and am struggling to get our business going but we are committed. It is a little tough to pay the debt and bils at this time. but I God is good.
Hi Eric,another interesting topic of the lessons .
angie
I’m having a bad time each day, still working full time and have to spent some time on my website once back. I’m starting to turn into working zombie!
Hi Eric,
Thanks for the lesson. I won’t quit my job still cause the day job is currently paying for all the expenses.
Hello Eric… I don’t have a job right now, and for the last 3 month I’m working about 16 hours a day on my Internet Business.
All the best,
Arne
Your advice on how and when to quit your job is for those that truly have a vision.My wife and I have sacrificed and planned our goal to quit our jobs.We made major changes in our lifestyle to realize we do need to always be prepared.We only work 40 hours total between us know.That leaves us 296 hours a week to concentrate on our vision.We work only enough to sustain life.If you are willing to work on your vision and build,then you are right on.
Thank you for saying it like it is, not what people want to hear.
Pierre
Hi Eric want to know if you make any money by sending me the lessons and how does it work dont know very little aboat computers and websites dont know where to start at all but it sounds interresting and i want to start my own business ,so I just want to tell you I need alot more advice..
All the best to you and your familie
Keith
As you will see throughout the lessons, I recommend certain products and services. I do earn commission when most of those are purchased through my link. I will send you many more lessons 😉
Being unemployed I don`t struggle with this one as much. ;>)
I’ve already quit my fulltime job because of family issues and I needed to be home when the kids get home from school. It was because of that decision that I then decided to start an online business.It’s tight but I can get a boarder to help pay the rent and if need be I can go do some part time work. It’s alot easier on the other hand because I’m not so tired with being away from home for 10 plus hours a day. So I think I made the right decision and I’ll stick with it.
Hi Eric,
I’m going to work tomorrow, so I guess I have to hit the sack now.
Hi Eric,
I retired from my food business exactly one year ago already and decided to learn the internet business thing since I don’t have anything to do. I like your lessons and enjoy the comments of your readers. I appreciate your Godliness and the sharing of your expertise and I hope I can learn how to earn online from your lessons. Thank you.
Presentacion
Hi Eric. I absolutely hate my job of 5 days a fortnight and can hardly wait to leave. I was forced to take the job because I was receiving unemployment benefits. My plan at that time was to create an online business but this job is now hampering my progress.
In my first marketing effortthis month I made $10,000 in sales to a list of 70 but clawbacks brought my commissions back to $1,000 which is due for payment in a month’s time. Would you say that it would be too risky to quit the job yet? I could manage on $300 a week, but I’d have to put in considerable effort to build a bigger list. I have heard that one needs a list of 1,500 before quitting your job. What’s your opinion?
IMO you are close but not quite ready.
The fact that you made $10k sales is very encouraging….
Just think, if it were your own product, you would have made twice as much and the money would be in your account already.
So I would keep following the lessons, and work on developing your own product, and continuing to build your list.
Also, when you get to the list building lessons (#59-70) I think you will learn some faster ways to build your list.
I think you are very close… keep working hard and don’t give up. You will know when you’re ready.
Good advice Eric on a very serious subject… I would happily leave my job today… But I know it is better to wait another 6 months! Hopefully less.
Hi Eric,
Thank you very much for your free advice. I have been trying at internet marketing for the past 6 months without any success. I have joined many programs without any success. Thank God I got this link from Joel Comm newsletter 2 and a half weeks ago. How do I bounce back from spending my money badly in the past on programs that have not worked. I need to start making money. How do I start to do that.
It really boils down to finding one thing that makes money for you. Then replicate it. Then scale it up.
Easier said than done, but that’s all there is to it. If you haven’t decided on a particular business model, I recommend information marketing, which is what I teach throughout this lesson series. And I recommend following all the lessons in order, starting from #1.
I have been retired for awhile and have been assembling the pieces to the internet marketing business puzzle for a while also. I think your coaching added to the other coaching I have at present will allow me to complete the puzzle and fulfill my dream of being financially independent via entrepreneurial efforts. Thank you! Keep up the good work.
THANKS, ERIC FOR THESE BRILLIANT LESSONS.You are so right in everything you say but there is another alternative and I hope this may be helpful to others.
I knew 2 years ago that I wanted to quit my job a.s.a.p. and start an internet business.
But as a shift worker I found I never had enough time to get started, always felt too tired after work, had family and household committments before work etc. etc.
Then I had a close bereavement that changed my outlook and my priorities.
I actually wrote out my resignation but instead of handing it in I discussed with my boss my desire to work part-time and to my suprise he agreed. This now affords me the time to committ to a new enterprise without actually being unemployed.
However a word of warning. It is toooo easy to get side tracked and not use the extra free time effectively especially when there is at least a small income still being generated.
So now I’m going back to lesson 13 and fully committ to your lessons, Eric !
Actually, I’m starting my business while looking for a job…as an industrial construction worker, it was time to quit my job when my last employer said “its time for you to leave!” I then attempted self employment…I could sat that I was tired of working for people who didn’t want to pay, and I was, but, my body started talking to me. I really didn’t like what my body was saying, but, I knew I had to listen! So, the pay is good, but, I’m not looking for ANY construction work. After 22 years, my body says “NO MORE!!!” However, Melanie, in the entry above me, I believe, has stated a very good idea. I just might try that. Except, I won’t be going back to lesson 13. I have the commitment part down! Yeah, 1 wife, 18 years, & 4 children…oldest: 17 youngest: 4 Another reason for me to preserve what is left of my body!!!
Hi Eric, I left my job,or you can say quit my job a year ago to take care of my terminally ill father.When he passed away,and I wanted to go back to work,my position was no longer available.Also not that I am bragging,being in your 50’s,does not help either.So I guess in a way I would have a lot to lose.I still work off and on doing some work,but I feel this business could help me,for an old man my age.Ha.Ha….Thanks so much for this training it is very helpful,and interesting…Fred
Hi Eric,
thansk so much for this lesson. i have gone through series of other lessons from you but none has ever bare my thoughts as lesson 18. the truth is that my business is not yeiding much but like question no. 1 rightly asks: my job is really hurting me and this is what i mean: 1. physically challenging, 2.No extra time for me to build my own business and, and, the pay is …… to write home about. Well thanks to lesson 18, for i now know where i really stand! and i know i’m not sitting on the fence for sure. I’ve got to move, i know i’ll only die once. Once again, thanks for this wonderful, honest but painful (joyful for me) truth. Remain blessed.
My regards,
Christian
I honestly don’t think I need to quit my job for a long time. My specific biz deals with my life, I guess it would be under the “blogging/vlogging” category. Though, I am young, only half way thru college. And my biz will probably deal with my career in art/communications/entertainment. I really guess it depends on what type of online business you’re going for. And, from the very first lessons, we know there are a lot of types of online businesses.
hi eric,
i am working online for almost one years till now i am unable to get any useful site or activity that give me sure money whether it is small or big. Do you have any idea to check fraud and real company.
thanks
Hi Eric,i really want to quit my day job because it’s bothering me so much 8am-5pm mon-friday but i need an online job that i can do at home to start making little money to get my feet wet at least i can start from there.Please, i need your help.Thanks
It does take work, and usually some trial and error… so it might take some time to start making money. But stick with it and follow my lessons, and you can do it.