7 reasons why I have kept my day job while owning my own business

Does starting your own business mean you should quit your day job?

Owning your own business

Like you, I stay busy. I work a full-time job, operate a thriving online store and run the blog workathomeinspiration.com, all the while being a husband and dad.  The question often asked is,  should you quit your job while owning your own business?

I make as much money from owning my own business as I do with my full-time job, but I have yet to put in my two-week notice and don’t plan to anytime soon.

Why do I continue working a full-time job?

1. Base Income

I view my day job as my base pay and my work-at-home businesses as commission. I pay myself a regular salary every two weeks from my ecommerce store. The rest of my profit, we save or pay off debt. Having that base-pay buffer eliminates some of the stress that can come with owning your own business.

2. Insurance

The company that I work for offers excellent insurance at an affordable premium. Two summers ago, one of our sons had to be rushed to the emergency room, and two weeks later, our other son had to go to the emergency room. We would have been out several thousand dollars if we had not had excellent insurance coverage.

3. I don’t dread my job

If I had a job that I dreaded going to every day, I would probably take the risk and quit. But I work with great people and my job is not stressful. While I work, I am able to listen to podcasts and audio books that help me grow own businesses.

4. Meet financial goals earlier

Several years ago, we purchased a brand-new car and were able to pay it off within a year, thanks to the fact that we could pay at least $1,000 a month from my online business.    My wife and I are working toward paying off our home early. This goal is obtainable because we have several streams of income as business owners.

5. My wife can be at home

At one time in our marriage, my wife was working three days a week, cleaning an office and teaching on Saturdays. I hated it because we had always desired her to be at home as much as possible with our kids. Today, she only works two days a week and one of those days she is able to pick up the kids from school. I do not want to jeopardize her having to work more than two days a week.

6. Retirement

The company that I work with offers an excellent 401k plan. They match dollar for dollar. This benefit has the potential of being worth several thousand a year. Right now, I put in 5 percent of my salary, which is the maximum they match. Of course, if I was making $1,000,000 annually with my work-at-home business, then this benefit would not have as much holding power.

7. Security

I have worked for the same company for over 20 years and realize there is no security working for “the man”. My wife, however, feels more financially secure with me having a corporate job. I would not leave my job without making sure that we had enough in savings to last for at least six months and all of our bills were paid off. Of course, there are always exceptions.

Like many of you, I would love to work full time on my own businesses. But for now, I am satisfied doing what I am doing. I have certain financial goals that will need to be met before I quit my day job.

For those of you that work a job as well, what keeps you from quitting and owning  your own business full time?

Just take a step!


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