Should You Quit Your Job And Start An Online Business In 2020?

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If you're thinking about quitting your cushy, but soul-crushing day job to start an online business, don't do anything until you have read this post.

In 2006, I made one of the best decisions in my life. I quit work to pursue my dream of running my own online business.

I didn't start up as a blogger or as a web designer, I started in eCommerce. Running a website selling original artwork/paintings. It was a lot of fun, but hard work.

14 years have passed and I have enjoyed every moment of it. Sure there have been ups and downs along the way, but it's all part of the process.

Before starting my online business venture, I was stuck in a dead-end job. Actually, I was stuck in several dead-end jobs but don't tell anyone.

The first dead-end job was working for a local agricultural company. The second was in sales selling high-end cookers and stoves. They were nothing more but mediocre jobs that paid mediocre wages.

My wages, in fact at the time were around $10 (£6) per hour. If you had told me that someday I'd be earning 10 X that amount from blogging and web design, I would not have believed you.

Don't live with regret

As far as career choices go, I don't have any regrets I'm pleased to say. I'm so glad that I followed my inner voice, despite people around me telling me that I needed to get a real job. The only thing is I wish I'd d' done is started my blogging and web design journey sooner.

So, should you consider quitting your job to start an online business in 2020?

Yes, 100%, yes.

And before you think that it's too late to start, it's never too late.

I know that sounds like a cliche, but darn it it's true. Now is the best time to start your online business.

Why so?

You have better information and you have access to all the tech and tools you need.

Here's an interesting statistic -

97% of self-employed entrepreneurs would never go back to traditional employment.

smallbizgenius

So, if it's blogging you want to do, then start now. If it's any other business you want to build, start taking steps to make that dream happen today.

OK, so before you start your own online business, let me fill you in on a few things you need to do first. These are essential if you are starting from rock bottom.

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1. Build your dream online career before you quit your day job

Here's some advice you probably won't want to read about but it's important. Don't quit your job before you start your business. Start your business, grow it, then quit your job.

By doing it this way, you ensure that you have a stable income coming in, even though you might hate your job so much.

This is exactly what I did in 2004. I spent a good year and a half building my eCommerce site and stock and made my first few sales before quitting my job.

When the time came for me to quit my day job in 2006, I was already making $1,500 a month from my art business. Not a huge amount of money, I know, but it was enough for me to not have a day job.

2. Keep learning

Knowledge is so valuable when you're starting an online business. You simply can't put a price on it. The more you can learn, the better you will be at running your business.

For the most part, a lot of the knowledge you need is freely available on the internet through blogs and videos.

In addition to finding the right knowledge and resource online, read educational and self-help books on internet business and entrepreneurship. Enroll in mini-courses on Udemy. Learn all about digital marketing and how to create a website. Learn as much as you can and never think you know enough.

3. Start small, but always think big

It's exciting starting your own online business and you won't be able to help yourself but to dream big, and that's good. Remember, though, you have to take baby steps in order to reach your ultimate goal.

When I started my online business back in 2004, I didn't even have my own computer. I used the family computer when I could get my hands on it, up until I was able to afford a laptop for myself. My dream was to someday have a beautiful home office in which I could work. It took me 14-years to reach that goal.

So, don't think that you've got to go out and invest in expensive equipment to start, because you don't. Start small, take incremental steps.

Once your online business is making enough money, you can start investing in the right tools to help you grow and succeed.

4. Don't let fear get in your way

Fear is one of the biggest reasons why so many people don't pursue their dreams. Fear of the unknown. Fear of failure or that it might not work. Fear that you might be wasting your time. Fear of being ridiculed by your friends and family.

When I announced that I would be quitting my job with a stable income to pursue a career as an artist, I lost everything.

My girlfriend at the time left me instantly. Even after 4 years together. My mother, as much as I love her, threatened to throw me out of the house if I didn't find another 'real' job. My friends could never take me seriously either.

It wasn't their faults they reacted this way, they didn't know any better. Any dream or passion they had were nothing more but pastimes or hobbies for them. They never saw things the way I did and still don't today. To them, fear will always get in the way of their dreams. For the most part, they know this too, which is why I'm comfortable saying it.

They were also afraid for me. Afraid that I would fail and end up jobless. But, none of that mattered to me. I didn't care if I failed, because my passion to succeed with my online business was way bigger than anything I had at the time. I hated my day job, which was one of the biggest reasons I knew I had to succeed.

5. Don't let the opinions of others define who you are and what you want to do

As a follow on to the previous part - Don't let the opinions or fearful advice of others define your destiny. When I was in full-time work, people used to ask me -

Fabrizio, are you sure you're doing the right thing! It just sounds like you're chasing a fantasy job.

Or,

You're going to be an artist selling paintings online! That's not a proper job, is it?

Oh my! Can you imagine their reaction if I had told them I would be starting a blog for a career?

Here's the thing -

Words like these can even make you doubt your own abilities. You have to be strong and wise enough to rise above them. Heck, even when you have a fire in your belly and a mindset like Bruce Lee and think that nothing will get in your way. Sometimes just a single shred of doubt from someone can make you think twice. Don't let that happen, always follow your inner voice.

How to get started

Now, let me remind you -

Quitting your job right now to go and start an online business sounds great, right? But, there is a correct way to do it. First, you need a plan or an exit strategy from your day job.

Once again, the idea is to start building your online business, your equity, your personal brand, all whilst you're still in work.

Give yourself 12-months, or more if you need to. Then make it your mission to focus on building your future proof business. Set your quit-date even and work towards that date. You can always change it later if you need more time.

If you want to quit your job and be your own boss, you've got to sacrifice a few things along the way too. At least to begin with.

Put off watching soaps on TV. Put off binge-watching Netflix. Put off wasting time scrolling through your Facebook feed. Put off playing endless hours of video games or watching random videos on YouTube. Focus your efforts on building your dream online business.

Right, with all that said, here are some useful links blog posts to help you make a cracking start on your online business or blog in 2020 -

  1. How To Start A WordPress Blog From Complete Scratch - A Step by Step Power-Guide
  2. Why You Have Zero Excuses For Not Starting Your Online Business (Podcast)
  3. 50+ Pro Blogging Tools For 2020 (Plus Tips How To Use Them)
  4. How To Create A Website For Your Business
  5. How To Make $1K Per Month From Your Blog

Books to help you start your online business

Finally, I want to list a few of my favorite books from Amazon on starting an online business.

  1. Starting A Business - Quick Start Guide by Clydebank Media
  2. The $100 Startup by CreateSpace Independent
  3. Start With Why By Simon Sinek
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7 comments on “Should You Quit Your Job And Start An Online Business In 2020?”

  1. I appreciate your opinion. We all know the start-up and make it a successful business ratio is too poor. That's why quitting a job is a bad idea until your own start-up gives a positive signal.

  2. Hi Emma, thanks so much for stopping by. Yes, I couldn't agree with you more. I can imagine that it's tempting for someone to quit their job early to focus on their new business. It's something that startups need to understand. 90% of new businesses fail because of a range of problems, from a lack of focus to premature scaling to the inability to focus on the customer's needs. Have a great day 🙂

  3. Hello Fabrizio,

    Choosing blogging as a career is definitely a good choice but if you are doing and a full-time job then it could be not easy to leave the job. I personally have started blogging since I was in college and after graduation, I choose to blog as my fulltime job. Thanks for this beautiful post.

    Regards,
    Vishwajeet Kumar

    1. Hi Vishwajeet,

      Yes, you're right. Blogging isn't a guaranteed career. The success of it for anyone depends on many factors. It's certainly not easy to make it successful without proper planning and execution for a very long time. You did right to start your blog whilst at college, that's a good strategy and well done 🙂

  4. It's always a good idea to start your own business if you are sure about your skills, experience and your product are quite good and enough to be demanded on start. In case the future business is about providing some service or product related to the Internet, may it be copywriting, programming or whatever - the niches are many, it's worth trying to win the freelance platforms and social media first before you start talking about the job in the past perfect. Also, according to many coaching gurus, fusing a job with building up an extra earning from self-employment would give you an extra life in this game 🙂

    Best regards

  5. Hi Fabrizio,

    Another great article, well done! I first became enamored of the internet in 1999 and started my first web-design business part-time. I had a handful of customers (I'd cold-called all of them by visiting them at their place of business), a business credit card & passion in my belly!

    My business was short-lived...but it was a great experience & the impetus to want to do more. Unfortunately my full-time management position got so busy I had to put everything else on hold.

    Fast-forward to this year: my wife & I started our blogging business & have been working tirelessly at it since December 19th. It's websites such as yours that new bloggers such as myself turn to for help and inspiration.

    I love your advice: 'Start small but think big'. It's all about taking baby steps yet keeping the big picture in mind.

    Thanks again!

    1. Hi Tim, It sounds like you and your wife really put some hard work in, and I'm so pleased that you didn't lose focus on your goal. Sometimes, life just happens. When my children came along, and we were renovating our home at the same time, I had to put building my blogging business on hold for around a year or so, then went back in full swing once they were in pre-school and the house was done. Keep at it, and thanks for your kind words, always happy to provide a little value here and there 🙂

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