You've been thinking about it, kvetching about it and pining for it. Now, it's time to take the leap because you're dying to get out of your fulltime job and you can't stand the thought of being there another year.
Following is a quick-start plan on how to start a fulltime freelance business. If your expenses are relatively low, you don't have a lot of debt and you really hunker down and do the following, you could conceivably kiss your job goodbye within the next three to six months. Here we go.
Start Your Freelance Business: Make the Leap Fulltime -- Sell Baby, Sell!
A cushion; some financial elbow room is what keeps many from taking the leap to fulltime freelance work initially. They don't know where that next paycheck is going to come from. And, this can be as little as $5,000 or $6,000 or $7,000. Can you imagine $5,000 holding you back from being totally happy? Would you do everything you could to reach this milestone to change your entire life?
This is, for many, a reality check. Once you look at it like this, then it's like, "Yeah, you're right. If I had that much in the bank, I'd so totally quit to freelance fulltime." This is especially true if you're already taking on freelance jobs on the side.
So, add up all your monthly expenses. How much do you need in the bank to totally and completely cover all of your expenses for at least two months, preferably three? Write this down.
Now that you have that number in front of you, following is how to get this money in the bank so you can start your new career.
1. Sell your junk: Start with the little stuff, eg, clothes in your closet, old electronics, lawn tools you never use, books you've long-ago read. In short, you're going to have a good old-fashioned American yard sale.
I once had a girlfriend who made $400 selling stuff she was "sure" no one would want. She dragged me into it. I only sold like $60 worth of stuff. But, it was $60 I didn't have and for stuff I no longer used, wanted or needed. Put it in the bank.
2. Sell things you're emotionally attached to: Do you have a fur coat you inherited from grandma but you don't believe in wearing fur so it just sits in your closet year after year? What about your wedding dress that you or no one will ever use again? Or, the engagement ring your (now) ex gave to you but you can't bear to part with?
Sometimes, we hold onto things that could give us better "value" if we part with them. What better reason to part with something than to start a new life that will make you incredibly happy?
Grandma would understand you selling her fur coat -- and would probably even encourage it, if it would make you happy and she no longer wanted it. Just a new way to look at something. Put this money in the bank.
3. Sell the big stuff: Can you sell your car and by a cheaper one that you outright pay for? The biggest expense most of us have outside of the mortgage/rent is the car payment. Eliminating a car payment can save you hundreds per month -- not only in car payments, but in insurance too.
4. Cut, Cut, Cut: Cut cable and cell phone plans to basic. You can ea women's jackets sily save $50 to $100 per month by doing this. When you first start to work freelance fulltime, you're going to have a lot less time on your hands anyway because you're going to be marketing -- a lot -- to make this a permanent career transition, right?
If you do these four things -- and save every extra penny you should be well on your way to getting that cushion you need to quit your job to work freelance fulltime.
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