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INTRO All-in But Hedging... If That Makes Sense

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Peal

Contributor
Apr 4, 2020
30
52
97
Western U.S.
Hi all,

I joined a few months ago but I wanted to respond to a few posts and offer some value before introducing myself.

I am 31. I worked for several marketing agencies throughout my 20s. Two and a half years ago I decided to become an independent marketing consultant with a focus on helping small businesses. I experienced an FTM with my last day job. I found myself absolutely dreading getting out of bed. During my 45-minute bus rides to my downtown office, I actually felt like I was on my way to hell. I was making good money, but I can tell you first hand, there is little solace in money when you despise your day job. I will spare you the details but I said f*ck this and decided to go for it.

When I started, I had more than a year of savings to live off of. I started by helping friends and friends of friends with marketing for their small businesses. I failed a lot and used that information to refine my process. Eventually, that business well ran dry. I tried all of the traditional marketing tactics (direct mail, Google Ads, SEO etc) and nothing was creating new clients for me.

There was a period where I didn't have a client for more 4-5 months. But I had a backup plan. Instead of burning through savings, I played poker (cash games at local rooms). I used to play professionally and while I wasn't crushing it, I made enough to get by. I've fallen back on this a couple of times. I also did some freelance work for a couple of ad agencies.
If you are going to go all-in, I recommend having at least a year of savings and some hedges. Amazon Flex or Uber would be good if you don't have a sort of side hustle in place.

Eventually, I realized that marketing consultation is not like most businesses in that clients don't seek you out. They have to hear about you and the work you've done for someone you know. So, I joined BNI, a networking group, and raised my standards. Instead of producing MVW, minimally viable work, I made it a goal to blow each client away. I knew that in order to get more business I had to literally leave clients speechless in my final meetings with them. Since then, things have been growing slowly but steadily. I now operate off 100% referrals.

I've read Unscripted and of course, being a marketing consultant isn't my end goal for reasons I don't need to explain. I am working on an online business in my spare time. My dream is to provide a product that makes the world better in a certain way.

If you are thinking about going for it and leaving your day job, do it. But make sure you hedge your risk with savings and side hustles. Please send me a message if you want help making that transition.

Thank you, MJ, and everyone in this forum. This place feels like home.
 

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MJ DeMarco

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Awesome intro, much appreciated. Has BNI helped you with referrals? I've heard someone else talk about it here with some fanfare.
 
OP
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Peal

Peal

Contributor
Apr 4, 2020
30
52
97
Western U.S.
Awesome intro, much appreciated. Has BNI helped you with referrals? I've heard someone else talk about it here with some fanfare.
Yes, BNI is awesome with a caveat. Not all chapters are created equal. Some are much better than others. If someone is interested in joining I recommend they visit 5 or so.
 

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