 should you quit your job and start a business you're about to find out yo yo what's up so what do you think should you quit your job and start a business it's a big question and a lot of people go through this ordeal i'm going to be going through the pros and cons and hopefully you will learn a thing or two all right so you got that buggy got that itch and you want to become an entrepreneur and start your own business i commend you i applaud you congratulations however don't jump just yet now first of all when starting a new business you have to ask yourself this what type of business are you starting okay so we'll be focusing on business aspect before we start focusing on your job aspect there's a couple of things you have to take in consideration there's different business models out there there's different businesses out there okay so first question you got to ask yourself is if i'm going to start a business what kind right what kind of business what kind of business should you start and it's really important that you figure this out right away there's many different businesses you got e-commerce you got tech companies you got online businesses you have clothing companies you have all these different categories of businesses and each single business comes with a different operational cost meaning it's going to cost you differently for each single business that you want to focus on that being said once you identify the business that you want to go into and you identify exactly the operational cost this is going to determine your next step so let's say that you want to start an e-commerce business so that means you got to figure out how much you're paying for your product so if you go to alibaba you got to figure out how much you're paying for your product let's say you're going to be paying 2k to 4k for first shipment okay then you got to figure out okay i need to build a website so you got to build a website then you got to figure out okay how much money do i need for marketing you got to figure out how much money do i need for unforeseen costs so i would say unseen cost etc etc so then come down to your monthly cost and let's say per month your business maybe costs you 2k to run and then your time obviously the most important commodity of all time so once you have all these different things written down how much is going to cost you to run your e-commerce business so let's say 2 to 4k for initial purchase that's really cheap uh how much is going to cost for your website how much is going to cost for your marketing budget and unseen cost say legal legalization lawyer fees other setups fees software fees online comes to a couple hundred dollars a month and let's say if we round up to everything comes to two thousand dollars a month to run your business okay so now it costs you two thousand dollars a month to run your business and your time let me ask you this though how much money are you bringing in at your current job let's let's talk about something let's say you're bringing in eight thousand dollars right say you're bringing in right here right eight thousand dollars monthly and that doesn't include anything else so eight thousand dollars monthly we're rounded up we'll say ten thousand we'll make you a six figure salary earner so eight thousand after taxes keeping it very liberal not conservative right now okay so eight thousand dollars a month and what type of lifestyle are you living for eight thousand while i'm considering you have maybe a mortgage or rent so i'm going to break down some figures we got mortgage or rent we'll put 2k maybe you got a family you have kids you have a wife so you now you got to pay for food food food is another 2k a month okay then you got entertainment costs maybe entertainment costs is 1k a month okay then you have car payments maybe that's another 5k then you have insurance maybe that's another 5k and you have all this stuff so far we got about four five six right we're at we're at 6k right now and i didn't calculate everything else so pretty much maybe you got a k over for savings okay and then you have the bright idea of starting your e-commerce company like i'm going to quit my job well that's all fine and then you're going to quit your job well you forget you need two thousand dollars to run your job run your business you need about six thousand dollars a month to run your family where's the money so that's no bueno it doesn't work that way you don't jump ship what you need to do is figure out a balancing it's going to be really hard i'm not going to lie to you it's going to be very difficult going from your full-time job over to your business however this is smart you know i've seen a lot of people sabotage themselves and i like this lesson that gary v talks about about you know grinding yourself out for a short period of time until you get enough momentum on one thing so you can let go of the next thing so if we know if you know for a fact that just to get off the ground your e-commerce business cost you two k per se and you know for a fact that you need let's say minimum bare bones and minimum you need seven thousand dollars a month for you and your family okay so that's nine thousand dollars a month period so you need two k for your business and seven k for your family what you need to do is this if your job is nine to five like everybody else i recommend you get up i'm not kidding you i said this is going to be tough man for the next two years finding it out day by day but and at the end guess what you win because you're doing the work that nobody else wants to do and you're doing it smart and i would recommend that you have a talk with your family a talk with your partner a talk with your kids because being an entrepreneur is no joke trust me it is no joke there's a lot of stress on you as a founder a lot of stress on your partner a lot of stress on the family household so it's really important that you guys communicate together so what you need to do is if your job for example is nine till five and say you leave at eight o'clock to get your get to your job and you wake up say at seven to get ready to leave at eight o'clock i'd recommend you get up a five till seven so you got two hours in the morning you wake up a five i wake up a five right now early bird gets the worm so what you want to do is wake up a five and we're gonna put a big thing over here so five a.m wake up you're gonna wake up a five and you're gonna work you're gonna work till seven a.m and then from seven till eight you get ready to go to work and in those two hours what you need to do is hustle on your side business on your e-commerce business do some email marketing create some blogs do some email outreach pr campaign so big on guest writing reaching out to journalists make a list the night before before you go to bed as soon as you wake up you hit the you hit it hard running so you get out your laptop and you start typing away and start grinding it out for two hours you come back home say five forty five or say six o'clock you come back home spend some time with your family you're gonna be cutting back some time because it's tough building a business you're putting in sweat equity right now as well as working your other job because you got to pay the bills in the house and you got to pay the bills for your business as well so you come home around say six o'clock spend some time with the family dinner whatever you want to do and then let's say from eight till twelve eight till twelve that's four hours eight till twelve you work on your business you grind it out you do your marketing you make some sales you do customer service you got to do what you got to do okay you got to do what you got to do you got to put in the work you got to put in the time and that's that there's no way around it and basically you're going to do this until your numbers on your business start growing past your salary and not just the business number there's a difference between how much the business makes and how much you're taking out whether that's a salary of a company or dividends of a company so the whole idea is as soon as this business has enough revenue to pay you the exact same salary as your current position that's when you drop ship and that's when now you have all this free time opened up nine to five has opened up to focus on your business and that's the recommendation that i have if you're considering quitting your job and starting a business don't you need cash to survive plus this method of grinding in the morning and in the evening also will validate if your business is good or not too many times people drop everything and i've done it a million times you know i'm to blame i'm i'm on fault over here as well you drop everything at once and you dive into the business but you have no minimal viable product you haven't proven anything you don't know if people want to buy it and you're wasting all this time for what a dud it's it's not working and no one cares about it however if you focus on this and you hustle in the morning hustle in the evening you're going to validate your idea you're going to validate your product and at the exact same time you're also providing for you and your family that's pretty much it don't quit your job grind on the side hustle on the side prove your business model and then transfer over all right guys i want you to leave a comment below this video i want to know exactly what business you're working on in fact you could put a link so this is one of the only first times i do it put a link in the comment below i want to know your startup and your business i want to go check it out as well as make sure to subscribe to this channel there's a button somewhere over here and if you're looking for the latest marketing hacks click the link below this video you'll see it right beside the title you get weekly case studies on all my growth hacking tips okay peace