seriously considering quitting job

[stewie]

Hope it all works out for you..



Good Luck
:yo:

 

[Namefox]

Job...what job?

 

[stewie]

Job...what job?

LOL job??? What is a job? I had to google it... ound:

 

[Namefox]

All joking aside...even when you run your own business, you are just buying yourself a job. Certainly recommend to make sure you have a cushion (similar to a real estate agent starting out) to help you through the lean time. If you are a single guy with no family to support, then it is OK to live on KD, ichiban and ketchup sandwiches. However, if you are supporting a family, don't approach this thing half cocked and just quit your job based on the "idea of making money" via domaining. Make sure you have some contacts, know the business and are already making money leap frog style.

 

[chillking]

I think we all want to quit our jobs and domain full time but it happens when you have a nice big break either getting big revenue from sites or parking domains , or a few huge sales a year my portfolio keeps growing but im not taking no money out every time i make cash it put it back in. Ow yes and because i got almost 1500 names i been dropping some that dont make cash and the ones that would be hard work to sell, I think in the next year or 2 i should see some good results i think you also got to be a bit lucky.

 

[mart1n19]

All the best, Hope to do same thing one day.
Im only 22 at the moment, but ive been making a decent income from casino affiliate programmes mainly, which have allowed me to build my empire


Worth considering affiliate programmes if you have the right names.

Good luck with your new career

 

[stewie]

To anyone who is thinking of quitting...

I would say the best approach is never quit a job/main source of income unless you have proven that you can make money in domaining. For the sake of moving forward...Let's say domaining is a good way to make a living, fine.. but the question is can you do it or do you have the knack?...There are a lot of people/domainers who have been domaining for years that are not making enough to live off of domaining. Be careful not to read the Rags to Riches stories and think that could be YOU. All that being said lets hope you can do it, just go take it slow and test the waters....you can always leave your job later.

-A good question would be...

Q: How long did it take domainers here to be making enough $$$ to be living 100% from domaining revenue???

My Answer: I'm NOT ... I need to keep my job/business to help pay for my domains.

:yo:

 

[ecomindia]

this thread is back... is the economy getting better? or the domain bulls are feeling the heat ;-)

I am not going to quit, i am not going to quit this year, BUT
i am planning to quit soon, i am planning to quit sooner BUT
my main source is my job and my income much goes in managing domains SO

Lots of IFs & BUTs .. thinking ,,,,

 

[theinvestor]

Why quit? Just retire early

 

[draggar]

I think Stewie summed it up pretty well - unless you can prove you can live off of domaining, don't quit your day job.

Things for me are not better (but they were pretty bleak before anyway). Over 2 years now and not even one $xxx sale (highest was $90).

But - from what I've learned I'm moving towards more quality domains and developing. I'm still transitioning but I'm sure when the transition is nearly complete my portfolio will look a lot better (heh, it already does!).

 

[Brands&Jingles]

How about jingling domain serious.ly?

 

[blogcrash]

Talking about quit a Job...

I have a job interview today. The last one after some negotiations.
Let's see....

But i don't think i'll leave the domain business for now.

 

[Developper]

Quitted my job in 2000.

Will NEVER EVER work again for third parties.

 

[Acquisition]

If you haven't quit your job yet, there's no need to worry. You'll eventually get laid off anyway the way the economy is headed into a bottomless pit.

:cheers:

 

[emark]

I have 2¢. This is advice I got many years ago. For me, it has proven to be true. If you haven't already quit your job, these things might help.

I don't know your financial situation, but remember that your wife's job could end at any time. My ex's did after 17 years on one job. I have a little stash of cash, but when you have to dip into the well every month it can go empty real fast.

Setup a budget to operate on as a trial. It'll show you exactly where the money goes, and where you need to spend it.

Save enough $$ for your family to live off for a minimum of 6 months (sometimes that isn't even enough). Especially with a child in the family you have to make extra allowances. We lived like hippies again for a while.

When I say $$ for 6 months I mean include $$ for house note, food, car note, health insurance and medications, house and car insurance and utilities. Also allow funds for car repair and possibly deductable for homeowners insurance. And don't forget entertainment which is very important for the family if times get hard.

If you're in your own home, remember that the air conditioner or central heating unit can go out at any time. If those repairs aren't more than your deductable, it's on you to pay for them. Don't forget medical and other emergencies. Always try to keep some extra money saved as a cushion. And on and on and on.

Maybe that was more than 2¢. Good luck with whatever decision you make. Take care and be well.

 

[copper]

Wise words.
However, 6 months of living expenses won't do with current economic condition.
I would say at least 12 months.

I have 2¢. This is advice I got many years ago. For me, it has proven to be true. If you haven't already quit your job, these things might help.

I don't know your financial situation, but remember that your wife's job could end at any time. My ex's did after 17 years on one job. I have a little stash of cash, but when you have to dip into the well every month it can go empty real fast.

Setup a budget to operate on as a trial. It'll show you exactly where the money goes, and where you need to spend it.

Save enough $$ for your family to live off for a minimum of 6 months (sometimes that isn't even enough). Especially with a child in the family you have to make extra allowances. We lived like hippies again for a while.

When I say $$ for 6 months I mean include $$ for house note, food, car note, health insurance and medications, house and car insurance and utilities. Also allow funds for car repair and possibly deductable for homeowners insurance. And don't forget entertainment which is very important for the family if times get hard.

If you're in your own home, remember that the air conditioner or central heating unit can go out at any time. If those repairs aren't more than your deductable, it's on you to pay for them. Don't forget medical and other emergencies. Always try to keep some extra money saved as a cushion. And on and on and on.

Maybe that was more than 2¢. Good luck with whatever decision you make. Take care and be well.

 

[supermance]

I quit my job years ago.

In the first few months, it was not easy. It was damn hard. But when you put yourself in that position (where you can't go back to your day job and you have family to take care of), you have no other choice to live on it. Your mind will automatically force yourself to find a way. Eventually, you'll be just fine.

But when you say later, later, later... it won't happen.

However, I'm not going to be the one who recommends you to quit your day job. This is your life. Just because I'm okay, doesn't mean you're going to be okay... and it doesn't mean you're not going to be richer than you are today.

If you think you're nuts, then I must be nutser than you.

G' luck, mate!

i love this one :nod:

 

[britishbulldog]

Depends on how much you need to live on ? i could not quit my day job because i don't believe i could make $3k a week on domaining alone so i will keep it part time although sometimes i have made enuff money to quit my day job,i cannot do consistent enuff.

 

[Deleted member 2020]

$13,000 a month. Nice.

I was earning $400 a month before I started domaining, so the switch-over point was much quicker and easier to reach.

 

[VictorLazlo]

You would love this. I was lucky enough to work at home and watch my 2 boys grow up. It was great but to do this you should have one years expenses in ready cash to be safe. Remember the ancient rule of the monkey; don`t let go of the last branch before having a firm grip on the next one.

they say on order for a business to be successful you must dedicate yourself full time to it.but how can i when i have my job in the day and my son at night? i want to dedicate full time not just to domaining,but web development as well,which is why i'm considering quitting my job for 09' and staying at home with my son and manage my portfolio.i know that usa is going through rough times and people should hold on to their jobs,but i believe that this is still a lucrative business and want to capitalize on it before it's too late.my question is has anyone here quit their jobs recently to pursue this, or am i nuts and should be thankful that i am employed and continue to work.your thoughts and opinions are appreciated.

cleverlyslick