When to Quit Your Job and Go Full-Time On Your Side Business

Two ways to think about when to quit your job to go full time on your business:
1. Your side business cash flow replaces your job income - this is pretty simple, it's extremely low-risk and high likelihood that putting all of your effort into the business will grow it faster, leading to much higher revenue
2. You have ample runway to grow cash flow to replacement level - If you have 6-18 months of savings, you can draw that down and hustle hard on the business until it starts to cash flow enough to live off of + reinvest in growth.
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[@Bento_Club]

I learned more in this 7 min video than I did my entire 4 years of college. Thank you for your insight, Kevin. ✌🏽

[@kevinmespiritu]

Means a lot to hear this! Cheers

[@gregbishop4145]

I couldn’t stop watching the chickens running around behind you. 😂 I would also add to make sure it’s something that you really want to do full time. I started making good money as a sports photographer but realized after a few years that my side hustle was better as a side hustle because the joy of sports photography was being destroyed by the stress of needing to make money.

[@kevinmespiritu]

I hear you on that! Really important to understand how much of the drive to side hustle is to replace income completely versus have something fun that does make a bit of cash

[@MrFitbikeco10]

I quit my job when my after tax/costs exceed my jobs pay PLUS benefits. Remember, just because you make more on your own, health insurance, vision, dental etc have to become an expense now. Out of pocket. So factor that in as well. Once you make more than all that combined vs a job, bounce

[@DorianDevelops]

It's so much harder to go all in on your side business when you have golden handcuffs with your day job. I've decided to go all in this year and take the pay cut so that I can focus on my business fulltime but like you said I have savings and we're lowering our cost of living by traveling to a cheaper country while I focus on growing my side thing to become my main thing. Thanks again for the videos great info!

[@kevinmespiritu]

Dude that is awesome, props on making that move and all the best with it

[@jeremiewampler]

Yessir side hustle is always mechanic for me along with the day job…however I’d love to eventually move to market and just mechanic as a side hustle instead of basically having 3 jobs drop to 1 with a small hustle on the side

[@kevinmespiritu]

Makes total sense! Mechanic is a FANTASTIC side hustle

[@growingtolive2040]

very good advice and straight forward, thank you for the video, I look forward to more

[@karen-hillshomestead]

Thanks for the info!

[@kevinmespiritu]

Any time!

[@catiepower3550]

This is incredibly helpful.

[@kevinmespiritu]

❤️ glad to hear that Catie

[@nadogrl]

Brilliant explanation!❤️

[@kevinmespiritu]

Glad it was helpful!

[@Tastygarybites]

Great advice Kevin thanks for sharing your experience

[@kevinmespiritu]

You are very welcome!

[@nancy_weis]

Thanks for this! Amazing learnings. Currently thinking if I go all in on an idea or trying to start a side hustle. You saying you are also not taking big risks helped me make my decision 😊

[@kevinmespiritu]

Best of luck!

[@ceecee-thetransplantedgardener]

SO glad you came back to this channel. I realize it's a labor of love - but man - everything you lay out here is epic great. I also have to say this: many KZbin creators talk too much. At least for my tastes. I NEVER have a problem listening to you. I'm engaged the entire time. Have you thought about Ted Talks? :) (I have no idea if there is any $$ there, fwiw). I gave up on a dream in my youth because I could not wrap my head around the business aspect of that dream. I was all "dewy eyed" and rainbows and lollipops with zero strategy or acumen. This specific channel has me re-thinking some of that now. Never too late? Maybe not - with the right tools, knowledge, and perspective. Thank you. PS: I heard your disclaimer. If I faceplant, it's all on me. :)

[@kevinmespiritu]

This means a lot to hear! I don't think I'm too interested in TED talks, have this channel after all :) Never too late to start. That's for sure.

[@erinbyronma]

Love everything you do, Kevin! 🌿💕 What lav mic do you use? 🎤 🙏

[@kevinmespiritu]

Sennheiser ME 2

[@camiscottage]

So late but I loved this !!! So much great info! I haven’t even finished it yet 🤯 Not sure if you covered this already but I remember you telling a story about selling micro greens to a restaurant. What kind of permits or legal things do you need in order to sell your produce that you grow for consumption at a restaurant or farmers market?

[@kevinmespiritu]

I wish I had a good answer these days...I haven't done it in ages!

[@camiscottage]

@@kevinmespiritu all good im still in the donation/giveaway realm anyway lol but thought I’d ask

[@trishdavi7049]

Do you have a rooster now? The hens are doing a funky chicken run around in their coup behind you. Interesting topic when to switch from wage to self employed

[@kevinmespiritu]

No rooster!

[@ericg9636]

great advice for sure. one YT-specific question, do you think its prudent to form an LLC/S corp before launching a YT/site platform that's been in the works for a while? or should I go all-in on content and focus on moving the YT to an LLC/S corp later when things actually begin to take off?

[@kevinmespiritu]

It's not cost-effective to do so early on, you'll be eating the yearly LLC fee and just paying normal taxes anyways...as you ramp up I'd go for it though, unless you've had prior business success, in that case I'd just do it at the outset

[@ericg9636]

Thanks for the reply! Loving this business-related content, it’s really helpful. Congrats on all your success!

[@Bbssochs]

Great info! Very concise and direct, What type of professional should one speak with to help with such calculations plus benefits, retirement investing, and payroll taxes for other employees? That’s my biggest black hole of knowledge these days as I write out my business plan. Granted that is part of the 5 year plan but still want to learn.

[@kevinmespiritu]

I don't really write business plans, but generally I would just be working in a spreadsheet and doing some math on all of that stuff :)

[@Elizabeth-uz1mn]

Don’t forget payroll taxes and sales taxes!!!!

[@kevinmespiritu]

YUP! Simplified a bit for example's sake :)

[@buckeyethor]

👍👍

[@user-nlvmruu]

hey kevin, how did you basically 10x your businesses profit in a few months? i am working fulltime on my side business and i am struggling to increase the profit

[@kevinmespiritu]

I didn't do that! But can cover this

[@user-nlvmruu]

thank you!!@@kevinmespiritu

[@scottmiller9975]

Have you disclosed anywhere the 17.5 million investment funding you received from the TCG firm? I get a little bit dubious over the direction the channel now takes and how that ties in with sustainable gardening practices, especially when there's no statement of the new contract(?). Obviously TCG are looking for monetary returns here. Will the channel prioritise pushing product sales (either through your own webstore, or through the affiliation you have with Amazon) over giving unbiased gardening advice, a lot of which requires absolutely no purchases or can be achieved via 2nd hand pick ups. I know these things aren't necessarily mutually exclusive, but over the years I have seen other independent operators gain in popularity, then get "bought out", which triggered the demise of their credibility.

[@kevinmespiritu]

Yep, we put out a statement. Keep in mind all businesses want returns, creators included - AKA Epic pre-investment as well. The capital allowed me to better align incentives to our audience, instead of having to rely on ads, affiliate, etc. - which make our viewers the PRODUCT, not the CUSTOMER. Allows us to make and manufacture truly better products (which you are correct you don't HAVE to buy).

[@scottmiller9975]

Thanks for the reply. I do hope that the products which you endorse (manufactured in China or elsewhere) are of a standard and quality that don't relegate them to landfill before they really should. Do you have the link to the statement?

[@kevinmespiritu]

@@scottmiller9975 We source (almost) nothing from China, the entire point of raising the capital is to offer better products to consumers, not worse...for the statement just Google Epic Gardening raises funding

[@Bakezonline]

Kevin , i would absolutely love to speak to you about growing my website. (30min zoom call or something like that) Ive spoken to you on twitter briefly and you seem down to earth and cool (also watched you on authority hacker). would defo want your advise on taking my niche site and turning into a brand and growing a youtube channel alongside it.. your successful with epic gardening and think your advise can be applied to my site/niche my site is doing 42k in pageviews per month and still growing..

[@kevinmespiritu]

Wish I could - no time unfortunately :(

[@Bakezonline]

@@kevinmespiritu No problem and i can imagine. Thanks anyway Kevin :)