So you are thinking about quitting your job and going solo? Before you do, you need a plan for where your income is going to come from. This should be split down into Active and Passive income.
For example, for Active income, this will be things like contracting, consulting, where you are exchanging your time for money. This is great, but once that time has been spent, you will not earn extra for it.
With Passive income, you will spend time producing work, such as an ebook or online course, and once it has been put live, you will earn income off of it from there onwards with no extra work.
I have made another video on my YouTube channel, and in this video, I ask the question, should you quit your job? Where I am going with this, is should you stick at a job that you don’t like, working for someone else, or should you try and pursue your passions. Pursuing your passions is a great thing to do, but you need to be prepared and do some planning, especially financial planning.
In this video I go through my personal story, and talk a bit about the financial planning I did prior to making this move. I also introduce the idea of Active vs Passive income which I will explore in more detail in another video.
I recently quit my job to go it alone, which is both exciting and terrifying. I want to document this journey and also share lots of other information. Normally I would do that on this blog, but writing and editing posts frequently takes a lot of time and I am struggling to do it. Recording a short video and editing it takes no time at all, so I am experimenting with this new medium. I have put up my first video which is an intro video to the channel. It feels very off seeing your self on the screen, but I will just have to get used to it.
I want to make this channel useful and not just a diary so I will be discussing lots of topics around software development, leadership, working from home, passive income and other things that I find interesting. I also want to do some interviews with people that work for themselves too to get their insights.
If you are interested in listening, then please hit the youtube subscribe button to follow along.
Even though this is the first proper video, it was actually loads of fun to do. I filmed it on my new iPhone 8plus because the front-facing camera shoots in full 1080p HD video, which means I get a higher resolution and I can see what I am doing on the screen which makes this much easier. Sadly this means my bigger camera which also shoots nice video, is a little redundant. oops.
The quality of the video on the iPhone 8Plus is excellent. The video I recorded today was on a fairly dull day so the light wasn’t amazing, but the video looked bright and the sound was excellent. The only adjustments I had to do was run a little noise reduction over the audio, but that was it, apart from cutting out a few duff lines. The rest is pretty much raw from the camera phone.