Just gave in my 2 weeks notice.

[MyronGainz]

This is my first post here, so hey guys!

It was a hard decision to make, but just gave up a pretty well paying job, secure job (Big 4 Audit) after about a year of working there, straight out of university.

Have a business idea in mind, incorporated it, funded with about $20,000 ($10,000 of my equity, $10,000 of co-founders' equity), not re-inventing the wheel just improving a business model that already exists. No clients yet though, haven't made any sales calls yet.

Feeling equal parts nervous and scared and equal parts excited and happy. Any advice or experience "taking the leap" would be greatly appreciated. Thanks guys

 

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[McCoyH]

Congrats on ditching the job, joining the forum and starting the business.

Have a business idea in mind, incorporated it, funded with about $20,000 ($10,000 of my equity, $10,000 of co-founders' equity), not re-inventing the wheel just improving a business model that already exists. No clients yet though, haven't made any sales calls yet.

You should have made your first sales call before doing ANY of that ^

 

[TheSilverSpoon]

Any advice or experience "taking the leap" would be greatly appreciated. Thanks guys

Just do it.

Build up a list, pick up the damn phone and set a goal for yourself - 50 sales calls a day. Analyze your calls, figure out what went wrong and improve it. Rinse and repeat.

Make your first 10 calls today and come back and tell us what you've learned.

 

[theag]

Good luck.

I dropped out of an elite university and with that gave up on a career in investment banking. Already had a contract in hand for JPM London M&A with a 6 figure salary right out of university at age 23.

Not really sure if I regret it, but right now life sucks and I certainly would have been better off right now if I had stuck with it and became an entrepreneur a few more years down the road, instead of going from failure to failure into debt during the last 2 years.

Life might suck right now, but in a few years, looking back, I will have made the right decision. Until then I have to eat some more shit.

So good luck, hope you have a less rocky road ahead.

 

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[MyronGainz]

Congrats on ditching the job, joining the forum and starting the business.




You should have made your first sales call before doing ANY of that ^

Maybe so... hmmm...

 

[McCoyH]

It's ok, too late now. Go go go go go. Every second you spend on here your competitors are spending calling your potential clients

 

[MyronGainz]

Good luck.

I dropped out of an elite university and with that gave up on a career in investment banking. Already had a contract in hand for JPM London M&A with a 6 figure salary right out of university at age 23.

Not really sure if I regret it, but right now life sucks and I certainly would have been better off right now if I had stuck with it and became an entrepreneur a few more years down the road, instead of going from failure to failure into debt during the last 2 years.

Life might suck right now, but in a few years, looking back, I will have made the right decision. Until then I have to eat some more shit.

So good luck, hope you have a less rocky road ahead.

What did you learn from your failures?

Thanks for your wishes!

 

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[MyronGainz]

It's ok, too late now. Go go go go go. Every second you spend on here your competitors are spending calling your potential clients

Thanks for your wishes!

 

[MyronGainz]

Just do it.

Build up a list, pick up the damn phone and set a goal for yourself - 50 sales calls a day. Analyze your calls, figure out what went wrong and improve it. Rinse and repeat.

Make your first 10 calls today and come back and tell us what you've learned.

Thanks for your wishes. This is probably the hardest/most riskiest decision I've ever had to make in my life (pretty sad, I know).

 

[Gsuz]

Keep hustlin cuz

 

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[MyronGainz]

This is my first post here, so hey guys!

It was a hard decision to make, but just gave up a pretty well paying job, secure job (Big 4 Audit) after about a year of working there, straight out of university.

Have a business idea in mind, incorporated it, funded with about $20,000 ($10,000 of my equity, $10,000 of co-founders' equity), not re-inventing the wheel just improving a business model that already exists. No clients yet though, haven't made any sales calls yet.

Feeling equal parts nervous and scared and equal parts excited and happy. Any advice or experience "taking the leap" would be greatly appreciated. Thanks guys

Talking with my co-founder, $20,000 will be more than enough seed money, in fact we are thinking of injecting just $10,000 to start (so $5,000 each), that will cover all of the start-up items and a few months worth of operating expenses.

 

[MyronGainz]

Keep hustlin cuz

Thanks brah, we're all gonna make it

 

[vinylawesome]

"You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake son."

 

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[Bigguns50]

Congratulations !

1)Join the 'INSIDERS". 2) Start a "Progress Thread". You don't have to reveal exactly what it is you're doing...it doesn't matter.

Browse the 'INSIDERS"...it's a gold mine.

Good luck !

 

[MyronGainz]

"You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake son."

Very nice clip!

 

[MyronGainz]

Congratulations !

1)Join the 'INSIDERS". 2) Start a "Progress Thread". You don't have to reveal exactly what it is you're doing...it doesn't matter.

Browse the 'INSIDERS"...it's a gold mine.

Good luck !

I will for sure when I get home, thanks for this!

 

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[mentalic]

Hey Myron. I also gave my 2 weeks notice to my customers 1 week ago (I will be working as a freelancer till the end of the week).
Do you have a product that you are about to sell or not? We have an MVP (http://en.wikipedia.org/wiki/Minimum_viable_product) which we use to get feedback from potential customers and the market.

You understand that from now on your life will have to change and live and breathe only in order to grow your business?
If you have enough motivation to work around 12 hours/day, sleep with your notebook next to your bed, stop going out, are smart, understand your customer needs, I don't think that you are going to have a problem. Although sometimes things are harder than we had imagined them...

 

[MyronGainz]

Hey Myron. I also gave my 2 weeks notice to my customers 1 week ago (I will be working as a freelancer till the end of the week).
Do you have a product that you are about to sell or not? We have an MVP (http://en.wikipedia.org/wiki/Minimum_viable_product) which we use to get feedback from potential customers and the market.

You understand that from now on your life will have to change and live and breathe only in order to grow your business?
If you have enough motivation to work around 12 hours/day, sleep with your notebook next to your bed, stop going out, are smart, understand your customer needs, I don't think that you are going to have a problem. Although sometimes things are harder than we had imagined them...

Thanks for the post, congrats on your 2 weeks and goodluck with the venture.

It's more or less a product with a service attached (initial product + monthly fee). There are somewhat established competitors in the field who have been growing quite rapidly, however the list of complaints and 1-star reviews for all of the current competitors turned on a lightbulb in my head. I conceived a way to improve what is currently out there (not reinventing the wheel, merely improving it).

I have 1 more week left of work, then I am all on my own.

 

[Rolfp2]

Thanks for the post, congrats on your 2 weeks and goodluck with the venture.

It's more or less a product with a service attached (initial product + monthly fee). There are somewhat established competitors in the field who have been growing quite rapidly, however the list of complaints and 1-star reviews for all of the current competitors turned on a lightbulb in my head. I conceived a way to improve what is currently out there (not reinventing the wheel, merely improving it).

I have 1 more week left of work, then I am all on my own.

Simply doing it better than the competition is a fantastic way to do it. Just yesterday, a successful contractor friend of mine was saying how he would actually walk in on active jobs of other companies to talk to the owner and simply ask him to look up online reviews of his company versus the one their using. He said every worker always had a look of dread when laying eyes on him.

As mentioned by others, it seems quite risky to jump in without any customers already, but it sounds like you've already got a pretty good plan.

 

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[parkerscott]

Strong misc presence ITT keep hustlin cuz and were all going to make it.

 

[MyronGainz]

Simply doing it better than the competition is a fantastic way to do it. Just yesterday, a successful contractor friend of mine was saying how he would actually walk in on active jobs of other companies to talk to the owner and simply ask him to look up online reviews of his company versus the one their using. He said every worker always had a look of dread when laying eyes on him.

As mentioned by others, it seems quite risky to jump in without any customers already, but it sounds like you've already got a pretty good plan.

Risky indeed. I told myself I would quit once I got 5 solid clients, but I realized that I would not be able to get my business off the ground and obtained those "5 solid clients" if I didn't dedicate my entire time to the business. And if I didn't make the jump, I could have made excuses forever to NOT quit and ended up going no where.

Strong misc presence ITT keep hustlin cuz and were all going to make it.

thanks brah, reps

 

[DrMJK]

This is my first post here, so hey guys!

It was a hard decision to make, but just gave up a pretty well paying job, secure job (Big 4 Audit) after about a year of working there, straight out of university.

Have a business idea in mind, incorporated it, funded with about $20,000 ($10,000 of my equity, $10,000 of co-founders' equity), not re-inventing the wheel just improving a business model that already exists. No clients yet though, haven't made any sales calls yet.

Feeling equal parts nervous and scared and equal parts excited and happy. Any advice or experience "taking the leap" would be greatly appreciated. Thanks guys

Congrats. Nervous and scared are great motivators. Set yourself a schedule each day. don't forget to exercise and eat healthy. The healthy you are the more likely you are to become wealthy. Don't give up on your dream.

 

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[Rolfp2]

Risky indeed. I told myself I would quit once I got 5 solid clients, but I realized that I would not be able to get my business off the ground and obtained those "5 solid clients" if I didn't dedicate my entire time to the business. And if I didn't make the jump, I could have made excuses forever to NOT quit and ended up going no where.



thanks brah, reps

Very true. Probably one of the most important aspects is being able to tell what's holding you back and just cut if off.

 

[contract]

Nice man

 

[AMS]

I sea there are a lot of awares ITT. Misc is taking over the world.

 

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[MyronGainz]

I sea there are a lot of awares ITT. Misc is taking over the world.

CEO 10k a day crew checkin in

 

[MyronGainz]

Update time.

I'll keep this short, but it's been 7 months and could not be happier with the progress, knock on wood.

-broke 6 figures in annualized revenue
-100% retention rate of clients
-got an office downtown TO (very old building, but very spacious, perfect for a startup)
-hired a sales manager
-hired 2 summer interns
-looking to hire a full-time developer/technician
-about 85% of current clientele came through cold calls, 15% referrals from current clients
-have enough funds now to deploy an inbound marketing strategy (videos, vamp up website, seo/ppc, etc.)

My goals for the next few months are

-get inbound calls coming in via our marketing strategy.
-form a board of directors come our 1 year anniversary, I have a Big 4 Partner in mind to be our first director.
-reach 7 figures in annualized sales
-scale some of our manual processes via hired developer

 

[MJ DeMarco]

Update time.

I'll keep this short, but it's been 7 months and could not be happier with the progress, knock on wood.

-broke 6 figures in annualized revenue
-100% retention rate of clients
-got an office downtown TO (very old building, but very spacious, perfect for a startup)
-hired a sales manager
-hired 2 summer interns
-looking to hire a full-time developer/technician
-about 85% of current clientele came through cold calls, 15% referrals from current clients
-have enough funds now to deploy an inbound marketing strategy (videos, vamp up website, seo/ppc, etc.)

My goals for the next few months are

-get inbound calls coming in via our marketing strategy.
-form a board of directors come our 1 year anniversary, I have a Big 4 Partner in mind to be our first director.
-reach 7 figures in annualized sales
-scale some of our manual processes via hired developer

Congrats, sounds like a very exciting time. Perhaps it's time you should update your mobile phone?

 

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[MyronGainz]

Congrats, sounds like a very exciting time. Perhaps it's time you should update your mobile phone?

Thanks MJ. You don't like the phone? But look at that subtle off-white coloring. The tasteful thickness of it.

 

[Marvin]

Aware?