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In this post, I want to share with you an insight of when should you go full-time on YouTube and quit your job. It may sound like a very serious blog post, and it is. It’s serious because if you’re looking to leave your job, you’re looking for stability into the world of YouTube.
I want to share with you a couple of big things to think about before doing that big step of quitting your job. I want you to realize that right now when you have money coming in you have something very stable.
On the other hand, when you start YouTube, you’re going to start at the bottom – at Ground Zero. And, you might not be making money for some time. With the time things will slowly begin to scale and eventually you might get to this crossing point where it accelerates and surpasses your job.
More Money on YouTube Than on a Job – Time to Walk Away?
Of course, depending on how much money you’re making at your job right now. Now, here are the most common questions:
- At which point you will be comfortable to quit your job?
- At which point do you have enough savings to be able to make that transition to make up the difference in your income?
- Are you going to leave your job before, or right at this point? Or will you do it when you make more money on YouTube than at your job?
For some people, this is a difficult decision – if they have a highly paid job. On the other hand, some people hate their low paid job. Well, in that case maybe it’s better to leave that job sooner than later.
If you take a look at this bigger picture concept (of doing YouTube full-time), and you have a stable, well-paid job you have to realize the following. When you’re doing YouTube full time, money is not just coming in from YouTube. You have an online business, and that means that online business has multiple components.
There are some other components you have to focus on as well:
- Blog (customer list, sell products)
- Paid sponsorships
This is how it all works.
Your blog gives you an opportunity to build a customer list. Using that list, you sell your product and someone else’s product to make money. Besides that, you might sell affiliates.
That’s what YouTube is all about. It’s an online business.
If you’re doing a podcast, you might get paid sponsorships. You’re incorporating and starting to do more things beyond YouTube.
That way you’re building your customer list, you’re selling your products, you’re doing affiliate marketing, you’re getting paid sponsorships. I believe you’re starting to recognize the bigger picture.
Will Everything Go Smoothly With YouTube Business in the Future?
Not exactly. All of this now starts to create more headaches because you have to do accounting and manage payrolls. Next, you have to do paperwork and set up a company behind it.
There’s much more involvement there rather than going to a job and just collecting your paycheck. And, that’s not all. Be aware of the fact that you have to think of health benefits as well.
There’s a lot of components once you start making the transition. If you only look at the revenue side of it – you might make a mistake.
If you are in an abusive workplace and you feel that you have to save yourself that you have to leave it before breaking point. Be ready to see this bigger picture, use every information and make the best decision possible.
If you’ve started with YouTube, understand that it’s just a component. You might do a podcast from that YouTube, or get paid sponsorships or something third.
Questions you will ask yourself while you are running a youtube business:
- How do I do paid sponsorships for a YouTube video?
- How do I turn that YouTube video into a blog?
- How do I start my website?
You have to start thinking about these components because that is going to start creating this online business. As golden advice, I would say do not only focus on the revenue side. Focus on things like learning to be able to do a podcast.
What’s also great to know (if you are in digital space) is being able to write an ebook. Figure out how to do affiliates and everything that will help your business. Once you have many of these components in place, then it might be time to leave your job. Because you have the skills, the knowledge and you have the experience.
Be honest with yourself and take a close look at your skills. You might not be super successful with writing e-books, but you might know how to do podcasting well.
You might know affiliate marketing well, but you might not know how to develop and create your products yet. But you might get there. With time all these things will continue to grow, and you have to trust the process.
If you are doing all of this right, the growth accelerates very quickly. Because you’re building these components out to be able to leverage your time.
I hope this makes sense – looking the bigger picture rather than just the income side. Focus on all the things you can do, on your breaking point and the level of your skills.
Figure out and understand these components to make that switch. What’s more, figure yourself out and understand where do you have domination and where you have to invest additional time for improvement.
It just comes down to you personally. How motivated you are, how well educated you are, and what the skill sets you have.