How Do You Quit Your Job And Still Gets Paid Every Month?
I’m publishing this post based on my personal experience. Before we start, is this how you feel right now?
You dislike your job (for whatever reason) and you can’t wait to quit your job but you are worried because you have a family to take care.
Does this sounds familiar to you?
If you are happy with your job and just looking for an alternative route to earn more money, this post is not for you.
You should read these posts instead:
Now, let’s get started on how to quit your job and without you needing to worry about monthly income.
Take Control Of Your Monthly Commitments
The first step is to figure out how much you need to survive every month.
I live in Malaysia and this goes out to every Malaysian who is looking to quit your job (and still get paid monthly).
Here’s my monthly commitment.
As you can see, my financial realization (as I call it) is slightly different because I have earnings from a day job (my digital marketing agency) and freelance gigs that I do on the side.
Click here to download the Financial Realization Sheet to get a strong understanding on where you stand financially.
Now that you are fully aware of your monthly commitment, let’s get started with how to quit a job.
How to quit my job (and still get paid)?
Aha, aha …
This is what we all wish for, right?
Getting ready with “how to quit my job and travel?” type of information?
What I’m about to show you is how to quit a job and start with your own dream job.
Step 1: Find a freelance gig
Before you even thinking of quitting your job, you need to find a solution to solve all your financial worries.
In this case, freelancing is the best (and free) way to get financially stable before making the jump.
Best freelance works to start with:
There are also UpWork.com, Freelance.com and Fiverr.com where you can score yourself some quick freelancing gig.
You won’t make much from freelancing and in most cases, each freelance project will generate around $20 to $100 per job (RM80 to RM400 if convert to local currency). Once you have a strong freelancing career, you will be surprised that the overall earnings will increase multiple folds.
Step 2: Building a strong passive income stream(s)
You should only quit your job when you have a strong passive income stream.
And it starts by creating a small income stream (such as doing freelancing gigs) and slowly building it up to success.
Here’s the thing.
You can’t just build a passive income stream (or a few streams).
Building a passive income stream is easy but generating enough money from it is tough.
The magic word is “Scale” …
You need to learn to scale your income stream.
Let me give you an example.
I’ve been an affiliate marketer and how much do I make from online marketing?
Quite a lot.
To be exact, USD $14,036.
And here’s the screenshot.
Here’s what you need to know:
- I don’t get this earning overnight
- I did sacrifice many sleepless nights to work on this
- I invested some money into tools and others to make this come true
Here’s the thing.
If you can’t wait to quit your job and want to earn not just as much as I do but want to make way MORE than I do, then carry on reading.
Step 3: Scale by replicate success
As a freelancer, online marketer or whatever you decide to be (to replace your day job), you are bound to fail at least a few times (before hitting the ‘gold mine’.
But like what Rocky said …
“It is not how many times you get hit and fall. It is how many times you get hit, fall and stand right back up.”
When you find your tune, that’s exactly when you need to scale your business to new heights.
For example, you decide to start a blog which is good way to build passive income while still having your day job.
The first few months, you are not going to much money (probably no money at all) but when the traffic starts to kick in, you will see your earning increases.
Now, It starts with a couple of dollars and once you hit the $100 or 1,000 mark, this is where you ask yourself “How can I scale this to 10x?”
This is where you dive deep into your website (or whatever your side gigs are) and understand which is the platform that makes you the MOST money.
All you need to do now is to replicate the same method and you will be on your way to 10x your side gig income.
A lot of freelancers talk about replicating the results but they do not take enough effort to do so. Therefore, they are constantly not getting the results that they are looking for.
How to quit a job like a boss?
The moment when you submit your resignation and when your superior ask where you are going, your response will be like “I’m quitting my job for real and start my own business.”
And when this happens, it is common for them to ask you if you are sure of your decision.
That single decision … is always the best decision ever for most entrepreneurs.
In order to make that come true, you need to build a strong income stream, aside from your day job.
So, how do you do so?
By working on new ventures, becoming a freelancer or start your own local digital marketing agency like I do.
And before you decide to quit your job, make sure you have your financials calculated correctly to avoid facing financial challenges once you quit your job!
Do you want to quit your job? Leave your comments below.