My husband and I are considering the ramifications of quitting his day job so that he can do his patreon supported 3D work full time. I’m already freelancing here and there but mostly doing a lot behind the scenes for the 3D. We’d have to figure out retirement plans, possibly setting up an LLC, quality insurance (hello from USA where one illness can bankrupt you), saving for a house, taxes… and it’s a lot. I wish we could reach out for advice for someone in-industry, but to some extent he’s the only person with his “business model” that is doing what he’s doing. Did you seek advice from a professional? watch youtube channels? read books? Any suggestions would be appreciated
I haven’t been able to switch to Patreon only work, but one thing I hear over and over again from folks who have taken the plunge is to have a safety net saved up before you quit the day job to pursue freelance (Patreon assisted or otherwise). Enough money for rent, bills, quarterly taxes, paying down debt, emergency fund for car maintenance, etc for 6 months while you get your feet under you! The other is to set a work schedule and time allocated to yourself, bcs freelance often translates to immediate burnout and/or health ramifications if you work 24/7 and never allow any down time. Good luck to you!
I would start with finding a local accountant you trust. If you don’t have one already ask around for recommendations or look online and then set up appointments with at least three different ones, the more the better really. Once you find someone you click with they will be a great resource. The same goes for finding a lawyer, your accountant might be a good place to start, finding someone. The lawyer is does not have to be local, you do want to find a lawyer who has some clients who are at least similar to what you are doing so they have some experience. Get the accountant first, that will help budget and get an idea around retirement and health insurance and building an emergency fund.
I moved from a day job to part time creator to full time creator over the space of a few years, but if I could do it again I would almost do it the same way I just would have gotten help from professionals I trust and work well with earlier.
In 2018, I got the advice from Mega Ran and before in Marcus D to try out Patreon. At the time I was only using Bandcamp’s subscription feature. Ran told me he was using both. Took a year before I finally acted on his advice, but I’m glad I finally I did.
I left my day job back in July of this year. So, far patreon only covers my car note but that’s a great start. That in combination with the passive income I earn from streaming and other endeavors has made the transition much smoother than I anticipated.
