Can Your Online Earnings Replace Your Day Job Salary?
"Can my online earnings replace my day job income?" This is a pinching
question to many part-time freelancers. While we have seen a growing
number of online marketers who are achieving success in their niche, to a
greater number of people, diving into the world of freelancing is too
risky.
How do we assess if we are ready to go become a full-time online freelancer? I think it all boils down to the lifestyle that each individual wants to achieve. We as individuals have different needs. By knowing these needs we can at least figure out our long term goals about our online business. We can ask ourselves questions such as these:
Do I see myself working for someone in the next 10 to 20 years?
Is it my passion? Can I adjust my lifestyle so that I can launch my freelance career? What am I willing to sacrifice?
Can my online income pay my bills and can it sustain my chosen lifestyle?
Do I have enough reserve savings in case the cash flow becomes unstable?
Do I already have multiple streams of income to cover for all my expenses and leisure needs?
Another important question is "Do I see myself as a worker or as a business entity?"
There are so many factors and all are risky. But come to think of it, all our decisions in life has its own risks. While a lot of us have dived into the world of online freelancing, we've also been in the situation when we have feared the uncertain.
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How do we assess if we are ready to go become a full-time online freelancer? I think it all boils down to the lifestyle that each individual wants to achieve. We as individuals have different needs. By knowing these needs we can at least figure out our long term goals about our online business. We can ask ourselves questions such as these:
Do I see myself working for someone in the next 10 to 20 years?
Is it my passion? Can I adjust my lifestyle so that I can launch my freelance career? What am I willing to sacrifice?
Can my online income pay my bills and can it sustain my chosen lifestyle?
Do I have enough reserve savings in case the cash flow becomes unstable?
Do I already have multiple streams of income to cover for all my expenses and leisure needs?
Another important question is "Do I see myself as a worker or as a business entity?"
There are so many factors and all are risky. But come to think of it, all our decisions in life has its own risks. While a lot of us have dived into the world of online freelancing, we've also been in the situation when we have feared the uncertain.
image credit: 123rf.com
Free Image RF License Read More......