You want to quit your job. Not just this job but any future jobs as well. You just don’t want to work for anyone ever. But you’re unable to as you don’t have the money to sustain yourself. What should you do?
Look, I understand how you’re feeling right now. I can feel it.
I’ll tell you what you need to do.
But before, that I would ask you a question.
How you watched the movie “Shawshank Redemption“?
If you haven’t, I would suggest you to watch that one, because what I am going to suggest you has something to do with that movie.
Ya, one thing is for sure – It wouldn’t take you that long though. Nevertheless, I must tell you that key to quitting your job in the shortest time lies hidden in the movie.
Step 1 : Start hoarding money
Some might suggest you to start making more money. While there is nothing wrong with making more money, I must tell you that making money is neither the first not the most important step. Hoarding money is the first and most important step.
Each month, take some amount from your salary and create an online fixed deposit (term deposit). Don’t tell me that you’re already living hand to mouth. That’s an illusion.
I don’t know about US, but in India you can start an online fixed deposit for an amount as low as $16. Make it a habit to create a fixed deposit each month. Your aim should be to create as many fixed deposits as you can. Make it an addiction.
I started to with less than $100. You may choose the amount you’re comfortable with. But, you must do it.
What’s the purpose of this?
It’s purpose is to help you survive the days when you’ll not be getting your paychecks.
Step 2 : Start a side hustle
Before, you get any ideas, let me make it clear to you that the purpose of the side hustle is not to supplement you present income. It’s purpose is to create something that will replace your present job. Hence, choose something accordingly.
Here are a few things you could choose from:
- Creating YouTube Videos
- Freelancing or Consulting
- Online Business
Blogging has helped many people to quit their jobs. And, everybody can start a blog. Some may argue that you need to be a good writer to start a blog but that’s not true.
Being a good writer can certainly help you in blogging but that’s not what will make it successful. The only quality that is required to build a successful blog is perseverance. If you keep on working on your blog long enough, you’re bound to make money.
Creating YouTube Videos
YouTube has been a boon to a lot of people out there. Many could quit their jobs and many didn’t have to take up a job.
If you can create helpful, inspiring, or funny videos then you’re bound to make money on YouTube.
Freelancing or Consulting
You’ve learnt certain things from your current job. You can offer those services as a freelancer or a consultant.
You may begin as a freelancer and gradually become a consultant.
Becoming a freelancer will not give you the kind of money that you can make as a consultant.
An online business could be anything. You could be selling handmade stuffs online or you could be selling designer dresses. The concept is selling products or services online.
If you don’t have a product to sell, you can sell services as well. This one has a very good potential to replace your job.
Step 3 : Realize the fact that you can live with less
If your present salary is $3,000/month, then it doesn’t mean that you can’t live with less than $3,000/month.
So, don’t wait until your side hustle starts making $3,000/month before quitting the job, because that would be illogical. You’re devoting 8 hours a day to your day job and 2-3 hours to your side hustle, yet you expect your side hustle to give you $3,000/month. You need to become super lucky for that to happen.
The moment your side hustle start giving you around $1,500/month, you should quit your job (that’s 50% of your current salary).
And, if you feel financial shortage after quitting your job, you can fall back upon the fixed deposits you have created in step 1.
Step 4 : Work on your side hustle daily
I said it to be a side hustle. That doesn’t mean that you’re allowed to take it lightly. If you don’t take it seriously then be prepared to remain in your current job forever.
Remain faithful to your side hustle and work hard. Don’t juggle different hustles. Stick to just one.
In the movie Shawshank Redemption, Andy keeps on working on his side hustle for several years. The progress of his hustle gives him the motivation to continue.
If you work on your hustle, regularly, it will progress. And, if it progresses, it will give you motivation. Motivation will help you to continue. And, if you continue, you too will be able to come out of that prison.
All the best.