How to Decide When to Quit Your Day Job

Video Transcript

"My name is Gloria Campbell, and I'm with Advantage Training Systems, located in St. Petersburg, Florida. If you've started your business, you sometimes have to make a decision, when to quit your day job, and there's certain things that you want to make sure that you have observed, before you give up that day job. The first thing is, take a look at the business you're in, and how much are you' earning? Have you replaced your daytime salary, plus about fifteen to twenty percent? The reason being, if you have benefits on your current job, you're going to have to pay those benefits yourself, and normally that penalty, or that amount, is about fifteen to twenty three percent of your current salary. The other thing you want to take a look at, is do you have money in the bank, and how much? Could you support yourself if all of a sudden, your business took a downward turn, for a good three months, six months preferably? The other thing you want to take a look at is the economy. What's a long term future look like for the business? that you're ready to give up your daytime job, and move to that as a full time job. Another option I always advise people is, is there a way that you could go to a part-time position, with your current company, or in your current job, and do that for awhile longer? My name is Gloria Campbell. I'm with Advantage Training Systems, in St. Petersburg, Florida. There is the right time to give up your day job, and pursue your dream. Just make sure it's the right time for you."