Quit my job after reading MJ DeMarco's book

[Pier'Antonio]

Hi! I would like to hear from people who have quit their jobs after reading MJ DeMarco's book.
I'm currently a fullstack developer in France and I'm close to quitting my 5/7 job to create my own business. I don't have any specific plans in mind for the moment (even if I want to stay in the IT field, and learn more about blockchain dev). What do you think about it ? Any advice ?

 

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[otaku_ch]

Pier'Antonio,​

Je te souhaite la bienvenue par ici

I'm currently kind in the same state as you. My objectives are the following is to find a 9-5 job which helps me to fund my Fastlane project and then use that Fastlane to pay off my debts and the foremost get my freedom.

 

[YanC]

Hey man,

Unless you have a good reason, like lots of savings, I would advise you not to jump ships so fast. At least have a solid plan before you quit. Ideally, you'd have a confirmation that your business idea is viable first (strong signals, sales). Lots of people here only quit their job after their business income matched their job income. Probably the wisest thing to do.

I'm OK now, but I did it the way you're talking about and it has not been easy.

 

[Pier'Antonio]

Hey man,

Unless you have a good reason, like lots of savings, I would advise you not to jump ships so fast. At least have a solid plan before you quit. Ideally, you'd have a confirmation that your business idea is viable first (strong signals, sales). Lots of people here only quit their job after their business income matched their job income. Probably the wisest thing to do.

I'm OK now, but I did it the way you're talking about and it has not been easy.

Hello, thanks for your opinion! I think like you basically. The problem I see is i think i can't concentrate on creating value (becoming a "producer" to use the words of the book) because my current job requires a lot of time and sacrifice. I tell myself that at worst after a few intense months if I'm really in a bad situation I can take a job as a developer which are quite numerous at the moment ...
When you left your job you had 0 income ? (I see that you are French, so I can take the example of financial aid Pole emploi)

 

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[BlindSide]

No reason to quit your job if you have no business creating income, unless that job leaves you with absolutely zero time to spend on the business, or you have a massive savings stack. Even then, you’d already need an idea that you are starting to put into motion to make it worth it.

Use the job to build more funds to invest in the business. Quit when the business is covering your income, close to it… you get the idea.

 

[TEZI]

Read The great rat race escape before you do anything!

I was in the same situation as you....I am a teacher and just wanted to quit and start on my own, but like MJ says in his latest book, don't quit your job until your business forces you to quit! You don't want to burn bridges that could potentially be useful later on down the line

 

[Antifragile]

Hi! I would like to hear from people who have quit their jobs after reading MJ DeMarco's book.
I'm currently a fullstack developer in France and I'm close to quitting my 5/7 job to create my own business. I don't have any specific plans in mind for the moment (even if I want to stay in the IT field, and learn more about blockchain dev). What do you think about it ? Any advice ?

Don’t listen to strangers on the internet and do what you think is right. It is your life, your decisions, your future!

But make sure that you do it because it is the right thing to do you for you and not some knee jerk reaction because you got excited about “Fastlane Freedom” from a book. Be pragmatic about this. You’ll need this pragmatism to succeed in business.

Good luck.

 

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[Ravens_Shadow]

I built my software company at night and on weekends while working a full-time job in a similar industry as my company. After a few years my company was making enough money to pay me full-time with the exact same salary I was getting at my job and that's when I quit. I wouldn't quit until you have something sustainable.

 

[Manuel cacer]

Hola a todos estoy empezando a leer el libro de la via rápido me parese genial todo su contenido hoy en día estoy poniendo aprueba mi fuerza de voluntad levantándose más temprano una hora antes de mi salida para el trabajo ese tiempo lo utilizo para meditar y leer si quieres un cambio en tu vida deja de hacer lo que los demás hacen y marca la deferencia a largo plazo saludos Jmanuel de argentina

 

[ocricci]

I built my software company at night and on weekends while working a full-time job in a similar industry as my company. After a few years my company was making enough money to pay me full-time with the exact same salary I was getting at my job and that's when I quit. I wouldn't quit until you have something sustainable.

This is the way to go, i do not recommend quitting your job without a business system that pays enough money

 

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[MJ DeMarco]

As I wrote in The Great Rat Race Escape ...

My basic recommendation? Don’t quit your job unless you’ve got the following four guidelines flashing green.

1. Existing sales with adequate profit margins.
2. At least a six-month runway (cash flow) to support an owner paycheck.
3. Scale and growth potential. (Can revenue 10X within the next twelve months?)
4. Evidence of a productocracy.

Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed. Some cannot. I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).

 

[IceCreamKid]

Depends on your selling ability and financial situation. Sales skills are so critical.

People with no income trying to run a side hustle/biz usually become desperate. This energy scares people with money away.

On top of that, people usually underestimate the insane amount of effort and knowledge required to build a biz. Product development, sales outreach, marketing, customer retention...

 

[The-J]

People with no income trying to run a side hustle/biz usually become desperate. This energy scares people with money away.

This is a way bigger deal than most people think. It's not just that you'll scare away clients (and you will, and the clients you get will be the ones who care about having leverage on pricing, NOT the clients you want) it's that your priorities will get all messed up.

OK, you have no job so you can work on a business full-time... except if you have $0 in the bank, you still gotta pay your own nut. How long is it going to take you to become profitable enough to take a paycheck? Can you cover your old income in the first month? Probably not.

So how are you going to do that: take freelance contracts, which makes it less viable to work on the business full-time? How many freelance contracts are you going to need, how much time are you going to spend prospecting, how much time will it take you to fulfill those contracts? Where will your energies be focused: on the business, or on your freelance contracts?

So you're in the same situation as you would be if you had a job and were trying to build it on the side. You're probably going to be making less, especially if your effort is spent on client acquisition. You may not have enough time to work on the Fastlane that you wanted, just because you're trying to build a freelance stream of income.

Your priorities are now focused on getting income NOW and not on building a sustainable business.

If you have more money in the bank (let's say a year's salary), you can take more time to build the business correctly, build a team, etc, but you still have questions that must be answered. You still need to demonstrate a need for the business. You still need to demonstrate that your business model is scalable and profitable. It needs to make CENTS.

Let's say you quit your job with money in the bank, you try, and you fail. You'll probably have to go back to a job or take freelance contracts, and you've spent the money in the bank on starting a business AND paying your nut while you do so, and you've got little to show for it. Why not fail while you've got a safety net (job)? Why not quit your job when you know you've answered the questions that need to be answered?

I know cuz I did this, and dealt with this very situation. It sucks and it slows you down. Ended up taking a job anyway. Think long term.

 

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[David Fitz]

I know it sounds great to just quit your job but don't do it until you have some savings or income from your business coming in.

 

[Itizn]

Despite the stigma and all the well-meaning people who advocate against it, sometimes it can work out.

I did just that and while I'm still at a loss, I'm finally making sales and have clients.
Thinking the future for my business is bright but there were some serious bad moments along the way.

Perseverance is key and you know yourself better than anybody else.
If you think quitting is what you'll need to get started then listen to yourself.

 

[Aurum79]

Hello guys, to all the US folks responding to the topic, in France we have something called "Unemployment", he work in tech so his salary is probably good, he will get between 50 and 70% of his actual salary each month and this can be extended up to 2 years, so yes, even if he quit his job he can still have a monthly pay check, he was no medical bills to pay (because it's free-ish) and if he's young, was no kids and don't mind eating pasta a few days a week, what's the risk? Specially if he's not interested in a career and will keep quitting the next jobs.

I'm also asking for myself, because I'm in the same situation, I will soon be posting my own topic with more details.

 

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[Antifragile]

Pushing past fear in business​

Have you ever been told to “burn the ships”? Probably not. However you have possibly been told to “take the plunge” or “take a leap of faith”. To “burn the ships” is not new but I believe it resonates more today than ever before with entrepreneurs and business owners alike.

What is the story of ‘burning the ships’?​

In 1519 Hernan Cortes landed in Veracruz (what we now know as Mexico) to overthrow the Aztecs and take hold of the vast treasures of gold and silver if they won.

Cortes landed with only 600 men and they reportedly didn’t have any amour unlike their Aztec counterparts. Cortes demanded the ships be burnt. Imagine an army up in arms on the shores of Mexico looking at each other thinking their leader had turned into a madman. The idea was simple, creative, thought provoking and most of all - it worked. Cortes army had no way to retreat. No way to get back home if things didn’t go their way. This army was either going to be successful or go down fighting. There was no turning back here.

The idea of having no other option spurred the army into a “grit” mindset that was so motivating that it was genius. The troops wanted to get home to their family and the only way that would happen would be from winning every battle they faced over the next two years. They won and now it is used as a great example of how people can do extraordinary things when they put their minds to it and get rid of the exit strategy.

 

[LifeDeathTime]

I think there's another path that nobody's really recommending here.

Outsource parts of your day job.

This will free up your time to build your fast lane.

I was able to do this pretty easily.

I did that with a high paying front end design job and was able to outsource 80% of the work for like $1200 per month to someone in the UAE.

After that I only had to work on the day job 1 to 2 hours a day. As long as the work gets done, most people don't even care.

Is it unethical? That's a personal opinion. If the works getting done at the same quality or better, and the person has no access to sensitive biz information, I don't see an issue.

Friendly reminder - You're going to die one day. You need to do whatever it takes to gain your freedom while you can still enjoy it. Your employer really doesn't give a f*** about you.

 

[MJ DeMarco]

he will get between 50 and 70% of his actual salary each month

Wow. So the increased difficulty of starting a business in France is offset by its pro-employee/welfare policies.

Have you ever been told to “burn the ships”? Probably not.

It's been a big topic here over the years. I'm a fan of the strategy if you are younger with no responsibilities, but "burning the boats" when you have 3 kids to feed and a mortgage can be foolhardy.

 

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[WJK]

Hi! I would like to hear from people who have quit their jobs after reading MJ DeMarco's book.
I'm currently a fullstack developer in France and I'm close to quitting my 5/7 job to create my own business. I don't have any specific plans in mind for the moment (even if I want to stay in the IT field, and learn more about blockchain dev). What do you think about it ? Any advice ?

Why don't you build a side business before you quit? Hungry, homeless people aren't very good at building a new business.

 

[JIRS]

Are jobs in France truly 5/7 ? Here 5/8 jobs are actually (in my experience) 6/10+ jobs. Don't quit unless you have already something with enough traction... keep on trying while at work.