I would like to know your thoughts on at which point you can take a dicission to become a Full time author at Envato Market place? Is this depend on the number of items in portfolio or the sale rate or how one can decide this?
I am nowhere near that but I guess you will consider this when you make enough to pay the bills every month?
Isn’t it catch 22? You need to be a full time author to make the amount of money that’s enough to quit your job and become a full time author I guess just start doing your best and fast, dedicate enough time and you’ll see. It’s much easier if your start when you still have a lot of time (young), and when you don’t have to work yet (when living with parents).
I think the easiest answers is when you are happy with the income you make here and you can live off of it (and still being able to put some money aside to save for the future), and if you are willing to take that risk.
I can use myself as an example: I could live of the income I generate with my music but I still have a full-time daytime job simply because it gives a steady flow of income, while on Audiojungle it’s never sure how much money you end up with every month. What if my portfolio looses attention all of the sudden and my sales drop big time? I’m pretty screwed then without a ‘regular’ job.
Besides that, saving money goes really fast with 2 incomes
Isn’t it catch 22? You need to be a full time author to make the amount of money that’s enough to quit your job and become a full time author
If you are already self employed, then becoming a full time author would be smooth process as most of the things are already within your control. If you have to resign a salaried job, it will require a quantum leap – so you prepare buffer money, skills and portfolio to make sure everything is more than enough for a jump.
How? The answer is very simple: “Just start doing it.”
I just started doing this here 2 months ago. I’m in a very complicated real-life situation in which there aren’t many other options available for me anymore. Brain damage, physical injury due to violence on the street, etc. I won’t be able to get a job anymore, for everone thinks I’m a medical risk. I live on a very low wellfare at the moment. It’s tight. But, since about 8 weeks I’m now spending 80-100 (or even slightly more at times) hours per week into music. Simply fulltime. I sold everything I owned and invested it in better, more expressive instruments. I’ve been living on crackers with peanut-butter, etc. Now, well, I made $26,70 in these 2 months, while spended thousands. But I know for sure, believe me, believe me, that one can do ANYTHING he wants. Really. It takes commitment, drive, passion and reason. I know that for me it will become alright, although I still have alot to learn. And if you think about this, it will be alright for you too. But do realize: becoming succesful in whatever you do, whether that’s here, or painting, or software programming or whatever: it doesn’t come by itself. It’s hard work. I have the luck to live in an area where quite some famous artists live – some friends as well. They’ve been my inspiration and proof for many years about how commitment pays off in the end – in the end, not instantly. And if it wasn’t for other people to be proof: hey, I learned to walk again. I survived death twice, including cancer. You don’t ask yourself: how. You just fight for it. Simple as that.
In case it won’t work out for myself, I still have one final option left, which I definately don’t want, so it’s even more reason for me to be all-in 16/7 in this, no matter what it takes. I’ll live on peanutbutter, no problem, at least I’m alive and working on something eventhough at times it’s hopeless. But continue, continue, continue, never EVER give in.
Commit, learn, grow, and have faith. Really.
Do not quit your job yet. Use the spare time you have to create items and see the progress. If the income is pretty decent for you, then you can take the BIG step and become a full time author.
It’s been said that rich people historically have always had multiple sources of income, passive income. That means that they are earning money without having to work for it, they put their money, their products and services to work for them. Audiojungle is one such source of income for me. I sell items while I’m sleeping.
As other authors have said don’t quit your FT job just yet. Work hard, increase your portfolio and try and catch some freelance opportunities first. See how all this work for a about 6 – 8 months.. If you are able to cover your financial commitments during these months from the income then you can give it a shot. But always keep a contingency for the “IFs and BUTs”. This is something I’ve learnt through personal experience. Always give 100% and your best work.. There should be no compromise in that.. All the best..