Is It Time to Hang Up My Hat and Quit?
I quit my day job to start in this business back in September 2007. 8 months on I’m making more money than most bloggers but it’s a far cry from a full-time income. If I had stayed in my day job I would be earning around $60-70k per year by now. Did I make the wrong decision? Is it time for me to admit that I was wrong and just go back to the day job?
This post was inspired by a comment left on a recent post by Colin:
Since the last 30 day challenge you have barely reached the income of a low paid part time job. The traffic to your blog is impressive, but doesn’t seem to be giving you much monetary benefit. What income you have got is heavily skewed towards one source. Even if this source seems secure it is hardly good to be so dependent on the policy of a company you have no control over.
Are you really sure you made the correct decision?
I did answer his question in the comment thread but I thought about it some more and felt that it deserved a more complete answer. Plus, not many people read through the comments and I thought the question and my answer to it would be of interest to many of you.
Why Did I Quit?
Because I wanted to! Because I felt unfullfilled in my day job and felt as though I was just a cog in a machine that could be replaced by any other cog. I told my boss on the day I left that he could hire another programmer to replace me and the job and the product would continue on as before. My absense would make no difference. This is what got to me - I have a deep need to feel as though my presence on this planet is making a difference in some way. I don’t see how I can do that in a day job.
Plus it just sucks having to be somewhere at 9am every day and have annoying people bug you about what you’re doing all day long! I don’t cope with authority very well, I don’t like being told what to do and I don’t like having to justify myself to anybody!
This blog makes a difference. It may not do any good but it is still a unique difference. The world is not the same with my blog as it is without my blog. My ebook is unique and the world is different now that it contains that book. And so on it will go with every word that I write here, with every product that I create in the future. Nobody else can write those words and create those products because they are not me! Every day I change the world in some miniscule way and that makes me HAPPY. Eventually, I hope to be able to do some good with those words that I write, and I’m sure I already am because people write and tell me that is so!
It Was Reckless To Just Quit
When I quit my day job I co-owned my house with my partner at the time and as well as ourselves, we also had a child to feed. We had a fair bit of equity in the house but I had already eaten into it by a big chunk by spending three years at University as a mature student. When I quit I told my partner that I would just carry on doing the same thing of using my equity to support myself while I built up my income.
She was not happy with my decision. Looking back, it was pretty reckless of me to quit just like that. I had been out of University for less than a year so finally we had two good salaries coming into the household, we finally had a way out of the neighbourhood we were living in but then I just threw that away again. That is a lot to ask of your partner.
You Gotta Put Money On the Table Right?
In days gone by or in other parts of the world, people can be self-sufficient. They can build their own homes, grow their own food and live off the natural resources around them. However, those of us to choose to live in this western society have to pay for things such as mortgages, electricty bills, and groceries. As much as I like to feel like I am making a difference in the world, I still need to put money on the table.
I’m not doing that yet. However, I have been blessed with an opportunity… After my partner and I broke up I sold my half of the house to her which released my equity. This now sits in the bank earning me a rather large chunk of interest every month. Because I no longer own my own home and live with my mother my living expenses are a fraction of what they were. Thus I have the freedom to build my business to that level of a full-time income.
This is truly an opportunity that very few people have. I am sure that most people have mortgages, spouses and kids to feed and very little spare time with which to build an online business. Live is tough for those people so considering the unique and precious opportunity that I have, wouldn’t I be absolutely crazy not to make the most of it?
Internet Marketing Contains So Many Possibilities
Courtney Tuttle recently wrote about the dangers of suffering from Internet Marketing information overload! He said that the reason so many marketers fail to make money is because they try too many things. He is right and I have fallen into that very trap!
However, I don’t see this as a bad thing, I see it as a good thing! Why? Because in the time that I have been doing this I have learned so many things, and got so many ideas that I have a document on my PC which is brimming with ideas for things to try in the coming months. I have 4 other projects lined up after Traffic Rush. I want to start them all right now but I can’t spread myself that thinly.
It is an effort for me to stay focused but that is just a weakness of my personality that I have learned to live with. What it means for me is that I tend to read too much, spend more time analysing and planning than actually doing, and also find myself fighting procrastination a lot of the time. The upshot of this is that I tend to make concrete progress very slowly and as such it is taking me much longer to build my income than many other Internet Marketers.
But that’s ok! I have the time so I know what I am like, what my faults are and I work with them. Because there are so many possibilities with Internet Marketing if one idea doesn’t work, there are plenty more to try. So I don’t get discouraged if one technique doesn’t work for me.
I Believe In Myself
This is the biggie. I have an unwavering faith in my ability to support myself in this business. It’s hard to describe but I simply cannot see any possibility of failing. I never doubt it, not for a moment. I never have and I never will. I wish I had that same faith in myself in other areas of my life!
If I was on a timescale, up against some deadline then it would be a different story. But because of my unique financial situation, and the fact that there are so many possibilities to try and that I believe in myself beyond a shadow of a doubt, I have no intention of quitting, now or in any foreseable future.
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Mert Erkal
June 9, 2008
Hi Caroline, you are doing great. You buy your freedom by leaving your full time job which is priceless I guess. By the end of August 2008, i will be leaving my full time job too. Your success is my main motivation. Therefore you can not go anywhere! :)
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