Ok so you want to quit work and make NFT Trading/investing work full time? That’s what this post is about!
How Business Revenue Works
If you’re coming from an employment background, you’re probably used to seeing a consistent monthly pay.
$3,000 USD/m, etc, you know and can predict how the next 12 months or 12 years is going to be for you.
Business is not the same.
It’s inconsistent and this inconsistency is a big reason why not all people people can do it. A sample of what your revenue might look like with NFT Trading.
I transitioned to Full Time NFT trading after making quite a few successful trades for a consecutive 3-4 months.
I’d make $5,000 USD profit buying and selling Decentraland land within a couple of days. Sometimes they’d be smaller, $500 – $1,000 USD or way bigger, in the mid 5 figure ranges.
But after making enough money to give me a good 6-12 month buffer and it just not making sense going to work and spending 8 hours doing something away from my trading laptop where sometimes I’d miss $1,000 – $5,000 USD deals, I just had to quit.
How Do You Build Stability?
First, you can’t be money starved. Making financial moves out of desperation is not a healthy way to run a business.
Having a healthy savings account that gives you a good 3-6 months of living comfortably with money to burn during the learning process is where you want to be.
You also want to be experimenting and learning about the market so you know how it works before you 100% commit.
The best way to build stability and predictability is having leads and deals in the pipeline. If you know, on average, out of 10 people you’re talking to, 2 will close with a 20-40% profit margin, then you can predict how much money you will make from worse to best case scenario.
So now, all you have to do is fill that pipeline with leads/people you’re talking and negotiating with!
Taking it Next Level
Now, you’re working for yourself full time. You don’t need to stare at the computer for 8 hours like you used to. You might find that 2-3 hours is enough to talk to everyone, get a feel of the market, conduct any deals, etc.
I spend about 2 hours doing research and conducting any deals. The rest of the time, I spend on building my ecommerce business, my blog and spending time figuring out more ways to build my revenue.
NFT trading is a new industry, you may have some good dev skills to build a website or maybe you can start selling NFT merch! The world is your oyster when you start being self employed and it’s great to explore these.