02 Aug When Is the RIGHT Time to Quit Your Job and Go All-In on Your Side Hustle?
Lots of people dream of becoming entrepreneurs. And yet, there are some very common reasons why most don’t.
Sure, you want to start your own business… But you also need to afford food and a roof over your head. So what do you do?
For many, side hustles have been the perfect solution. You work your 9-5 to make ends meet, and in your free time, you slowly start piecing together a sustainable operation.
One of the biggest challenges of having a side hustle is knowing WHEN to go all-in.
But how do you know? What if it’s not the right time?
If you’re working a crappy job you hate, you’re probably itching to quit. You’re also most likely scared out of your mind because you’re living paycheck to paycheck.
But did you know that having a low-paying job can ACTUALLY be a blessing in disguise?
I’m going to share a quick secret in this week’s episode and explain why crappy jobs make great entrepreneurs.
Let’s dive in!
Why Is Having a Low-Paying Job a Blessing in Disguise?
Have you ever heard of the “golden handcuffs” issue? I know lots of people who are suffering from it.
Getting into entrepreneurship can be quite terrifying. If you have a job with a steady income, you’d need to give it up before you can fully dive into the role of a business owner.
And the more you stand to lose, the more difficult it is to make that leap.
That’s the main reason why people working high-paying jobs are less likely to become entrepreneurs.
The conditions are so tempting that they would rather give up on their dreams than risk losing what they already have. They remain tethered to their jobs, with their hands tied up by the golden handcuffs.
However, people working low-paying jobs are immune to this curse. Not being tied down by a job is a huge advantage for aspiring entrepreneurs. But it’s also an advantage most people fail to recognize.
I’ve been blessed with a wonderful career in entrepreneurship, but before that, I’ve had my fair share of crappy jobs. And I cherish every single one of them.
They taught me valuable lessons and helped me develop resilience. But most importantly, they made it easier for me to walk away and pursue my dreams.
When Should You Quit Your Job to Focus on Your Side Hustle?
If you’re currently working a low-paying job, you don’t need much to get started. All you have to do is match your current salary.
Let’s say you’re getting $3000 a month. If you can create a side hustle that can bring you the same amount – you’re already there! Just go for it!
“Not sure when you should go full-time with your side hustle? You do it right now!” – Eric Beer
Think about it… What’s the worst that could happen? You fail, right? And there’s a chance you may fail… But that shouldn’t stop you!
Because when it comes down to it, you can ALWAYS get another job.
If you do fail, financially, you’re back to square one. But even then, you’d have gained a priceless experience that would improve your chances significantly the next time around.
But if you succeed in sustaining yourself with your business… The opportunities that lie ahead are endless.
Take the shot! I believe in you!
Thank you so much for checking out this episode of Performance Marketer!
If you’d like to get some bonus Performance Marketer content, sign up for my SurveyDetective VIP waitlist.
See you next week!
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Guys, for anybody that's out there doing anything on a side hustle, you're not sure when you should go full time... You do it right now! If you're making some money in your side hustle, you do it right now!
I spent the last 17 years building my eight-figure performance business without using any of my own money, working with some of the most brilliant direct response marketers in the world today. Now I'm looking for entrepreneurs to join my affiliate army, built on ethics, transparency, good old hard work. Join me to change the perception of how people view the greatest business in the world, affiliate marketing, and follow along, as I learn, apply, and share performance marketing strategies, working with some of the brightest people on the planet. My name is Eric Beer, and welcome to the Performance Marketer Podcast.
What's up, everybody? Happy, happy Monday morning. I just saw a video with Gary Vaynerchuk, where someone asked a question to him saying "My side hustle is consistently beating my current salary, and wanting to know when the best time to possibly go full time." And it got me thinking. First off, I mean, that's a silly question, right? If you're beating what you're currently doing, and it's a side hustle that you're enjoying, and you're now being entrepreneurial, versus getting paid and work for somebody, I mean, I don't know how you don't go full time into knocking the cover off the ball. But what I wanted to kind of put in your heads is that for everybody out there that has a job, and they're making less money than they would like, or they're, they just can't make any real money at all. You got to look at it as you're lucky. Because most people that make a lot of money, have a very hard time leaving their job, especially if you have a family, and you have all these financial responsibilities. But if you don't make a lot of money, and then you're trying to start your own business, the beautiful thing about that is, you really don't have to make as much money in the side hustle to justify leaving your job. Guys, think about that for a second, right? Because a lot of people look at the negatives of "Ah man, my job sucks, I make no money." Bah, bah, bah, bah, bah, right? But with that said, if you're making $3,000 a month in your job, well then guess what, guys? If you start doing a side hustle, and you're able to make more than three grand, you're already matching what you're currently doing at your job. And financially, nothing changes for you. Yet, your opportunity and the upside is massive. And let me be really clear about this, just because you're making as much or more money in your side hustle as you are in your current job does not mean you're not going to fail. You may fail. As a matter of a fact, there's a high percentage that you will. Everybody fails. I fail in new businesses all the time. I mean, I probably go one for 10, one for 20, but that one pays for itself and then some for years to come. But the thing that you have to get across in your mind to ease your anxiety is that worst-case scenario, you just get another job, you just get another shitty job. That's the beauty of it, nothing changes. So, guys, for anybody that's out there doing anything on a side hustle, you're not sure when you should go full time you should do it right now. If you're making some money in your side hustle, you do it right now. And you should be blessed that you have a shitty job, he should be blessed that you do not make a lot of money. Because there are plenty of people that I know who make very good money, very good money. And now they're in their late 30s, middle 40s. And they're so afraid to leave because they've been doing it for so long, that they will never leave their job unless they get fired. Ever. Because they make too much money. And they have too many responsibilities financially and they're too scared. And that sucks. I call that the golden handcuffs. You do not want golden handcuffs, you want shitty jobs. There may be a reason why you have a shitty job and that you don't get paid a lot. Because your path is set to be an entrepreneur. For me, I never had a job that I was making so much money that I couldn't leave it. My last job, maybe. You know, but still like at the time I thought it was a lot of money, but it was not. And I'm thankful for it. I mean, the fact of the matter is, I'm an entrepreneur and I'm an entrepreneur at heart. And that was my journey. It was meant to be and it's meant to be for you guys. All of you guys that make shitty money. All of you guys that have shitty jobs, that's a good thing because that's gonna motivate you to go after it. So today's the day, go get some you can do this. And if you fail, who cares? Go get another job. But you ain't gonna fail. You're gonna kick some but. Alright guys, have a great day, be blessed, thinking of you all, rooting for you. Bye-bye.
Would you like to learn how I built my business using other people's money? If so, go join my 21-day challenge at performancemarketersecrets.com. I look forward to meeting you and welcome you into my family. And remember, results don't lie, but the people who don't have any tier. Thanks for listening.