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Old 07-01-2005, 10:19 PM   #1 (permalink)
_LB_
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Going Full Time - A guide to taking the plunge

Ever thought about going "full time" ?

Its an important decision many of us have either faced or will face some time in the future if we continue in this industry. Firstly though .... who should NOT go full time?

- People who are very easily distracted and have major problems self starting
- People who are bad with money and managing their finances
- People who are looking for a quick buck or shorter working hours

If you need pushing or a Boss to tell you what to do, you simply wont make it in this industry. You have to be a self starter and be able to avoid distractions around the home (assuming you will start from your home as most do).

Now when to make the decision is the hard thing. Too many jump from their job too soon, and all of a sudden after a week or two of bad sales are up shit creek without a paddle. They have bills coming in, things to pay, and no income or income that is still working its way to them. Before you make the decision you should have all of the following ...

1. A game plan that includes what you need to do in order to keep income coming in, and what you need to do in order to grow your business. A full blown business plan is best, and outlining how you intend to manage and expand your business and income really helps you take a broad perspective.

2. Money in the bank! Make sure you have at least ... AT LEAST one full month of savings. That means if you don't get anything for a month you still have money to live off. 2 months is safer, and 3 is perfect. I would suggest $2-3k at least for a US based single webmaster.

3. You must be making sales already. You can't just go full time when you are making 2 sales a week because in this business it takes time to ramp up the sales. You could be working for 3 months full time before you even get to 2 sales a day! Make sure you are at the very least doing 10 sales a week.

4. PC and backup. Do you have a backup plan if you have PC problems, or even an old backup PC? If your PC dies without a backup and you have no money to repair it then you are again up shit creek without a paddle.

5. Accountant? Do you have an accounting setup or an accountant? Do you at least keep your own books and keep track of incoming $ and outgoing $ .... check that you actually get the payments from sponsors and the checks are the right amount etc ?


Now when you actually go full time, it feels great ... it really does! However sometimes the novelty can wear off, especially if you are feeling a little unwell, or don't really feel like 'going to work'... because in this industry until you can afford to ... there are no sick days and lazyness has no place.

Decide on a 6-7 work day week. Most take a 6.5 work day week which is 6 days work, one day just keeping your finger on the pulse.

Plan your week and try to stick to a schedule. Make sure you get the 'bread and butter' work done each day before you load up icq or hit the boards. Your 'bread and butter' work is the stuff that brings in the income whether it be gallery submitting, freesites, blogging , or signing up for PPS sponsors using your own personal credit card. (That last one was a joke btw).

One day can often be used to prepare for the week. Create your 12 galleries and 6 freesites so you can get them submitted quickly each day of the week.

More importantly make sure and plan for time to further your business. If 2 gallery submits and one freesite pays your bills, but thats all you do every day then what future is there in that? You need to have time in your day for larger projects or learning ... making sure you are increasing your income every month. Easier said than done!

And lastly, investment. Many people, myself included have made the mistake of investing everything back into their business. You need to keep some profit back for you (savings) and invest some back into the business, but never simply invest everything back into your biz month after month after month. There is always something else you can buy, but be smart about it.

Each $ you make is a product of your hard work

And more importantly ... have fun. This business is one of opportunity, and opportunities are still everywhere for those willing to do the work. Theres money to be made, and financial freedom to be had, but it won't come quickly on a magic train laden with gold

Last edited by _LB_ : 07-01-2005 at 10:24 PM.
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Old 07-01-2005, 10:26 PM   #2 (permalink)
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great read. Your making money tutorial got me into this buisness now this one is going to make me quit my job.
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Old 07-01-2005, 10:52 PM   #3 (permalink)
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Quote:
Originally Posted by _LB_
blogging
I resemble that remark

Nice tips, _LB_.
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Old 07-01-2005, 10:54 PM   #4 (permalink)
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LB you are amazing .... And those are great points .... Thanks for the info great job ...
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Old 07-01-2005, 11:00 PM   #5 (permalink)
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self starting is the biggest issue. ill have 10 excuse to be distracted for every 1 reason i should work.
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Old 07-01-2005, 11:01 PM   #6 (permalink)
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and reading and posting on boards is one of them!
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Old 07-01-2005, 11:08 PM   #7 (permalink)
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Excellent tips for the person who is thinking of going full time.
I could have used tips like that when I first started out.
I went full time from day one and it was and there have been some quite rocky parts on the porn highway.
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Old 07-01-2005, 11:14 PM   #8 (permalink)
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Quote:
Originally Posted by Dane
I resemble that remark

Nice tips, _LB_.
lmao.. you two guys are hilarious..

thanks for the post LB - will keep this in mind hehe.. i can get distracted every now and then...
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Old 07-01-2005, 11:16 PM   #9 (permalink)
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Great tips there LB!! thanks!
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Old 07-01-2005, 11:32 PM   #10 (permalink)
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good tips LB
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Old 07-01-2005, 11:59 PM   #11 (permalink)
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Quote:
Originally Posted by Krusty
lmao.. you two guys are hilarious..

thanks for the post LB - will keep this in mind hehe.. i can get distracted every now and then...
I think I'm starting to wear him down though... He actually said "interesting" twice tonight!
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Old 07-02-2005, 12:06 AM   #12 (permalink)
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another good tip from LB,thanks very much
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Old 07-02-2005, 12:26 AM   #13 (permalink)
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love your post, i have been trying for full time this summer but it didnt work out, with trying to buy a house, and getting a new puppy, and school for 6 wks. was just to much
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Old 07-02-2005, 01:38 AM   #14 (permalink)
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Awesome post and I love Krustys new avatar....very nice.
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Old 07-02-2005, 03:09 AM   #15 (permalink)
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I can't go full time, fucking school
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Old 07-02-2005, 05:05 AM   #16 (permalink)
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Quote:
Originally Posted by _LB_
2. Money in the bank! Make sure you have at least ... AT LEAST one full month of savings. That means if you don't get anything for a month you still have money to live off. 2 months is safer, and 3 is perfect. I would suggest $2-3k at least for a US based single webmaster.
Actually, you should have 3 months of money ahead.
Consider the time to reach the minimum payout, the time the sponsor pays (if you reach the min payout on the 5th on the month, you'll only get the money at the end of the next sponsor period: up to one month) also sponsors often pay 1 or 2 weeks after the end of a period, then add the time of the check to be mailed, then the time the check will take to clear once you cash it (up to 3 weeks for non-US webmasters).
Between the moment you make the sale and the moment the money will be on your account, it can be well over 2 months: consider that in your plans!!
(of course, you definately must try to get paid via epassporte every time it's possible if you're not based in the US)

RVince "been there, currently still doing that" :-)
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Old 07-02-2005, 05:32 AM   #17 (permalink)
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I match all three reasons NOT to go full time

I'mworking on it though, and my money control isn't so bad.. Just gotta get procrastination under control.
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Old 07-02-2005, 05:40 AM   #18 (permalink)
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I know how you feel Blinky - focusing is the problem. Every time I get focused, the opportunity of a lifetime pops up.
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Old 07-02-2005, 06:23 AM   #19 (permalink)
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Thank You LB for verbalizing the most important parts of this business
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Old 07-02-2005, 06:58 AM   #20 (permalink)
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_LB_, i love your threads! They were the ones that got me inspired to get into this biz! Thanks mate!
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