When you are building your business online, you must be able to build assets if you want to quit your job. Allow me to explain:
A 9-5 job is only short-term income. It can be a lot or a little, but fundamentally it is still short-term… Why? Because the moment you stop working, you stop making money immediately!
Your boss may tolerate your laziness for a few days but if you don’t put in the hours, you will never get anymore pay whether it is weekly, daily or monthly pay!
If you keep on trading time for money, you will never be free from your job!
Online assets are different. Here are a few principles that you can apply to your online mentality:
• Leveraging on the Internet: You can draw in traffic from search engines or viral marketing.
• Leveraging on other Internet marketers. You do not need to build a mailing list if you have created a fantastic product that will keep customers buying and affiliates selling over and over again.
• Leveraging on your mailing list. The money is definitely in the list. It takes 15-30 minutes to write a proper E-mail to your mailing list. The great thing about E-mail marketing is you will take the same time to mail your list regardless if your list has 100 people or 100,000 people.
• Leveraging on your reputation online: A blogger may start with no RSS subscribers, but the more you blog and the more you network, you will be blogging for the same effort but with more people reading your blog (and you will be able to monetize from the traffic!).
• Leveraging on outsourced work. If you are making good money, you will be able to outsource your work to other people and spend more time on marketing your products (hence, making more money!)
Take a look at this graph for example:
The blue line is your 9-5 job. You may get increments and bonuses (hence the rising graph and your salary will most definitely exceed your online income in the first few months, but after a while, when your online assets start generating residual income, you will be able to quit your job once you have all the elements in place.