Interesting question, and the one that I believe many people share. If you ask the financial advisors Geraldton about this, I’m pretty sure they will get a heart attack.
The response will depend on your current situation. For anyone who is young (e. g., up to 30 years old) and do not have many financial duties (e. g., no wife, no kids, no mortgages) then you may consider moving over as soon as your website starts making 40 % of your current income. Perhaps even less if you already know the ropes of sites marketing and know your site has potential.
When We quit my full time job I was twenty-two, and my sites were making only 10% of my salary, but I had been completely sure the income would grow if My spouse and i started putting more work on them. And in fact within the first year my sites were already making more than what I earned with my previous job.
For those who have a wife, kids and other financial responsibilities, nevertheless, the picture changes. In this case, you need to wait until your website is near completion before you quit your regular job. On top of that I would also encourage you to diversify your earnings resources on the web.
Intended for example, consider launching a new website on the different niche and with a different business model, or launch an email list and promote affiliate offers to your subscribers. Developing money from just one website is a risky situation because things change very fast on the Net. 1 day your traffic is booming, the other it might be gone.
Finally, it’s also a good idea to make a financial cushion before you make the switch. That is, save money to hide around one year of your expenses, so even if things go really incorrect you’ll have one yr to figure it.
What about you guys, how much were you making when you jumped to work full time on the net (or how much are you planning to if you’ll still need to do it)?