Fiverr Forum

When should I quit job?


#1

Hi fiverr sellers,
I’m working as IT Executive in a company. I want to become full time freelancer. Please suggest me. When should I quit job?


#2

With only 8 reviews since October, i wouldn’t be too hasty to give up the day job.

Much better to get more experience round here before your consider it.


#3

Thanks. How about 20 reviews?


#4

No - nothing on Fiverr or the internet ever stays the same - there’s no salary at the end of the month.

If you’ve got another source of income, then please do think about going full-time, otherwise no, it’s just too risky!

This is my opinion only - I’m lucky enough that Fiverr isn’t my only source of income.


#5

Thank you so much for your advice. :slight_smile:


#6

Try and make fiverr your side hassle.


#7

NOW


from monster.com


#8

This decision should not be anything to do with your number of reviews.
When you have saved enough money to survive for 2-3 months, then you could consider it but there is a lot more to consider. The first step is to be able to eat and live with $0 from your freelancing. You could easily get banned by Fiverr, have a client who doesn’t pay etc - what would you do then? You need a backup plan.

Keep working in IT, complete your studies and continue to build your portfolio and your savings with Fiverr. When you have graduated and have enough savings then start looking at being a freelancer. Take your time, there is no rush. It sounds great to not have a boss but my bosses taught me a lot, the experience I gained while also having a guaranteed wage at the end of the week has been invaluable. Stick with it and plan your career sensibly and sustainably.
Otherwise, you could end up in debt and begging your old boss for your IT job back.


#9

If i were you , i would wait for some time. I would start considering quiting my job when my fiverr earnings are two times more than salary, also with positive rating and atleast level 2 if not TRS


#10

The fact that you’re asking this question means you shouldn’t quit yet. You still have a lot to learn about how to survive and manage yourself, and your finances.

Having said that, you can sometimes learn a lot by throwing yourself in at the deep end.

Someone I admire greatly says that you should never have a plan B. If you have a plan B you put effort into plan B that you should be putting into plan A. Bear in mind though that he was $100,000 in debt and on the verge of having his home taken away from him and being declared bankrupt before plan A came to fruition (and a lot of that was being in the right place at the right time).

I’m sorry, but the fact you asked this question makes me believe you’re not a go-get-them entrepreneur. I’d recommend that for now plan A involves getting experience and getting a good solid financial base.


#11

I would echo what @eoinfinnegan said about savings. Although I think 2-3 months worth of savings might not be enough. If it turns out that you can’t make it as a freelancer then it can take months before you find another 9 to 5 job.

Secondly, you need a long-term plan that will enable you to sell your services independently. Fiverr is a good place to get some experience and build up your portfolio, but you need to set up your own website that will help you sell your service.
The great thing about Fiverr is that it will basically bring the clients to you with minimal effort, but at the same time you have a ton of competition and you have to lower your prices. If you’re able to pull in clients directly to your own site through social media, organic search, paid ads and what not, then you’ll probably make 5-10 times what you get here at Fiverr.

If I was in your shoes, then I would use Fiverr as a gateway to set up my own business and when you’re getting a fairly steady income from that then quit your job.


#12

Never rely on 1 option as your revenue. What if someone hacks you, what if your account gets deleted (we just seen a case). If you plan on leaving your old job, do more then 1 thing to win money. I’m on 3 freelance websites, this is the 4th (still trying to sell my 1st gig :stuck_out_tongue: ), i have adsense revenue and a day job. Still scared to leave my job just yet :slight_smile:


#13

@maruf_ur I agree with @eoinfinnegan that to start, you have to think about survival than how many past sales you’ve had. You could have 5,000 past orders when the bottom drops out of the market on that gig. \

Most of the business advisors I’ve heard in classes or lectures say that a business should not expect to make any money in the first year. Fiverr is a little different since you don’t usually have much overhead for inventory or office space and such. Still, the principle is sound since you do have expenses that are both business and lifestyle related. You would do well to think of a year of funds saved to pay your bills, keep your internet on to use Fiverr, keep your computer repaired and up to date and take care of yourself medically/physically so you don’t get sick and deliver late. Paying for a smart phone with at least enough coverage to check and respond to messages while you are new is not a bad idea either.

Once you have that year of savings, make sure that your recent monthly earnings have been enough to pay those things without dipping in to savings. Keep in mind that one person can live for a month on 5 sales because they are bulk and another person needs 10 or more completed sales per day. If you’ve been earning that much for 3 months without using savings, have a year of funds saved, and know that jobs are available where you live if things go wrong - then you might consider it.

I also agree with those who say you need diversification and backup plans. We all think and hope Fiverr stays successful and useful, but it could be gone tomorrow. Have other streams of income ready and a backup plan for your freelance sales before you go full time.


#14

Whether or not it’s a good time to quit your current job and become a full-time freelancer isn’t something that anyone here can answer–that is something that you need to sit down and discuss in depth about with your Financial Advisor.


#15

Advice from financial advisors costs money. As someone who comes from that background the post from @fonthaunt makes sense.


#16

You just nailed it. Am with you 100% on this, am currently working in an IT firm and using fiverr to gain more experience on sales n getting more connections from every part of the world. I believe when the time is right you alone can decide that and not what people tell you.


#18

Well i don’t think its such a good idea right now, See there are pros and cons of everything, The biggest advantage of freelance service is you are the Boss
So since you are an independent worker you know what benefits are there in freelancing i am gonna list cons for now

-NO RECOGNIZED INCOME = NO LOANS FROM BANK
-NO EXPERIENCE CERTIFICATE = NO FUTURE PROMOTION
-YOU CANNOT DO ANYTHING IF SOMEHOW THEY DELETED YOU A/C

Worst is the third one trust me, What you’ll do if you ever get deleted from here or anywhere else freelancing? NOTHING !!! All your hardwork GONE PHUSS OUT OF THE WINDOW

But since you are in IT worker you must know that all the companies are liable to pay respect to you incase they are Terminating you so you’ll be rewarded with an experience certificate which means a lot, U can get job in any other company. But in freelancer if you have good repo on fiverr and you sold 10,000 gigs, You’ll still be an unknown on another platforms means u will have to do everything from Scratch there :slight_smile:

In my opinion quit your job only when you have atleast 3 freelancing sites working and all of them are running successful, Then atleast you’ll be having an option to shift incase something bad happens to one of them : )


#19

Even with 3 freelancing you can’t quit your job. :slight_smile:
You need more domains…like freelancing and…i don’t know, amazon affiliate, or a blog that generates income, or a youtube channel…something completely different.


#20

Hi,
If you really to resigned your job, don’t ask someone. just do it fast. What is your heart says? here it and let it be done by mind and brain.
Thanks


#21

Thanks for guiding me. :slight_smile: