How to make enough money to quit your job?
Ever wonder how all of these people are out here talking about they make all of this money from
home or from stocks or from Forex and all of these blah blah blah type of things? Well,
I've tried almost everything in business and I can tell you what works and what doesn't. I'm
going to tell you exactly how to make enough money to really quit your job. Let's go.
I'm going to give you a simple step-by-step process for starting your own business,
getting it profitable so that you have money and you're making money quickly. I'm
going to share with you the secrets of starting out right so that you are profitable in weeks,
not years. And I'm going to share with you the biggest mistake that I made in my business,
how I lost money so that you do not do the same thing. The first thing that you need to
know when you become a business owner and a true entrepreneur is that there are so many
benefits. I remember when I became a true business owner and now that I am a full-time entrepreneur
that runs 6 businesses and makes over a million dollars a year, every single year consistently.
I can tell you that it is enjoyable in so many ways. One of the best ways and one of
the biggest benefits of being a business owner instead of an employee is your time freedom.
Being able to control your time so that you are able to do the things that you want to do
when you want to do is very life-changing. Another just huge benefit of being a business owner versus
an employee is that you get to create your own paycheck. So, when I worked for other people,
I was always limited by my paycheck, by my bonus, by their pay structure. But as a business owner,
I am able to write my own check. I create how much money I make whether I take on more customers
or more clients, whether I serve more products, whether I go on more speaking engagements. Again,
not only do I control my time. I also control my money. And you get to decide what it is that you
want to do. There's some years that I'll only make 20 or 30 thousand per month and then there's other
years like this one where I just grind it out to the max and I take it to well into the millions.
It's really up to you when you decide to become a business owner. All you need to do is make that
decision and start to commit to it. But there are so many benefits not even including the tax
benefit. So, when you are talking about quitting your job and becoming a full-time entrepreneur,
basically, the first thing that you need to do before you get into millions of dollars and all
of this other crazy stuff is decide how much money it is and know how much money it is that
you need to make in order to replace your income. So, one of the things when I was quitting my job,
I literally quit a job where I was making 225,000 per year. And yeah, that sounds like
a lot of money but I have made that money in a month in my own business. So, the opportunity
is absolutely there for you. But it comes down to what is the minimum amount that you need in order
to replace your income. Now, of course, when I quit my job making 225,000 a year, I did not
just jump into entrepreneurship and start making 20 and 30 thousand dollars per month. In fact,
it was less than a third of that. I literally broke down how much I needed to pay my bills,
just my minimum bills. And then I even took it a step further. I went and started thinking, "Well,
what if I had to pay my mortgage every other month or my cardinal every other month? Or what if I
could call my credit card companies and skip a month on my car note?" Things like that. You want
to break it down to the absolute minimum amount that you need per month to replace your income.
Because one of the things that I find that trips up most people and it surely tripped up me
is that I felt like I needed to make all of this money before I was able to quit. And the
big problem with that is you'll end up working for someone much longer than you need to. You'll
just keep going and keep going. Let's think about this. When I tell you I was making 225,000 a year,
that's the number that was on my w-2. That is not how much money I saw in my bank account. I had to
pay taxes, 401K deductions, social security, medicare, medical, dental, all of these things
were coming out of my check. Probably the same thing for you. So, if you think that you need to
make the exact same thing in order to quit your job, you are falling into the biggest pitfall.
And what's going to happen is you're going to end up working for someone else much longer than you
ever need to. And you'll never be able to get to that next income where you have your time to work
in your business without that job. So, break it down. What is the minimum amount of money
you need per month to quit your job. That's the key. Whether it be a thousand, 3 thousand, 1,000.
I literally have students that have told me when they thought about it, they thought they needed to
make $35,000 a year or $3,000 per month. But when they broke it down, it was only $800 or $1,200. So
again, everybody's situation is the same. I can't tell you what your bills are, I got a lot of kids.
They all had to eat. So, my number was probably a little bit higher than yours. But what is your
number? Think about that and break it down to the absolute minimum. Get rid of Netflix, get rid of
cable, get rid of all the stuff that you don't need and break it down to the bare minimum number.
Step 2, make a decision. The next thing you need to do after you have your bare minimum
number is create a timeline. When are you planning to quit your job? There is no
"I'm going to quit one day or I'm going to quit next year. I'm going to quit when I can do this."
No. When are you quitting? Write down the date and then we can reverse engineer when that date is.
If you plan on quitting in 6 months or 7 months or 3 months, whatever the number is or whatever
the timeline is, make sure you write that down and then you back into it. So, if you need for example
to make $1,200 per month, maybe you can quit in 3 months because you can come up with that money
pretty quickly, then this will allow you to own your time and you'll be able to make even more
money in your business because you don't have the job that's taking up most of your time. Number 3,
set up the business. Before you start making clients or thinking about getting in paychecks,
set up the business properly. There's 2 reasons why you want to do that. One, it's for your own
mental self. No one's going to believe in you if you don't read it out. If you haven't set up
your business and created a business plan, you probably aren't actually convinced that you're
going to be starting a business. You're going to come across naysayers. Trust me. I came across
all different type of people that told me I was crazy. I needed to keep working that job. Maybe
I needed to go get a Ph.D. or whatever the heck they were telling me. They were naysayers. And
part of the problem is I didn't believe in myself. I hadn't set up my business. I hadn't written out
my business plan. So, how could I confidently go tell other people that this is what I was doing
if I hadn't actually set up the business? So, there's 2 reasons why you're gonna do it. One,
to calm the naysayers because of course they're going to come. But it's really for your own self.
And two, you got to convince the banks and lenders and other people to invest in your
business. You're really going to want to unlock business funding in order to really take your
business to the next level and this is going to require for you to set up your business properly.
So, step 1, set up the business. Go ahead and name your business. Go ahead and get a EIN number. Go
ahead and get the LLC or the S corp or the C corp. Get a professional business email get a
professional business phone number and create your business website. Whether you're going to
be doing a physical business, maybe you're going to do hair or you're going to do nails or you're
going to consult people. You're going to need a website. Look folks, we are in this time and you
are literally probably watching or listening to me on some type of internet thing. So,
go ahead and make sure you are on the internet because that is where people search for businesses
and that's where you want to be found. Make sure your website looks great. You don't have
to spend a lot of money on your website. You can literally have websites made for free. But again,
we know what year it is, we know that the internet is not going away.
And you must be able to be found on the internet in order to truly be a business
that's making enough money to actually quit your job. Next step, work your plan. So, like I said,
you created a plan, you know when you're quitting, you know how much money you need.
Now, let's reverse engineer and back into that date. Again, if you're quitting in 6 months,
break it down. What are you doing in month 1? What are you doing in month 2? What are you doing in 1,
3, 4, 5 and 6? And then quit. Yeah, I know. This is controversial. Many people will tell you, "Oh,
my gosh. This is scary." Trust me, it's going to be a little scary for you but as long as you start
making money in your business, I promise you, once you quit that job and you don't have to go
to someone's building or work in someone else's business, you'll be able to dedicate the time the
effort and the energy that you need to invest in your business and create the business that
will truly make you a lot of money. So, okay guys, hopefully, you learned a lot. Make sure you like
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