Hi guys,
It's 1:40 am in Ireland and brainstorming doesn't leave me alone. I would like to hear your advice and suggestions based on my current situation, please. I think just thinking about it consumes 30% or so of my energy a day that could be redirected elsewhere.
So, here is my situation:
I've built a somewhat good reputation for myself doing all kinds of stuff - such as writing CVs and Cover Letters, business plans and so on. I make like €400 a week out of this and it currently consumes like 20 hours. I get to keep all profit - no expenses whatsoever. It makes me feel somewhat secure, considering the fact that I am hustling full-time now and have no paycheck.
Here's the dilemma:
This business can't be automated. It's a JOB. My plan is to use earnings from this business in order to test various other business ideas that could help me generate more automated income and build a solid business with a reputable brand and I believe I have found exactly that couple of months ago, but didn't actually put work into it, but want to.
I have created a schedule (MON-SAT) for myself yesterday and here how it looks:
4:50 - 5:00 Waking-up and taking a cold shower
5:10 - 5:30 Jogging with a dog
5:40 - 5:50 Meditation
6:00 - 7:00 Gym
7:50 - 10:50 Working on building A JOB business - finishing orders and advertising mainly
10:50 - 14:00 Working on a FASTLANE business
14:00 - 15:00 Working on building a JOB business - finishing orders and advertising mainly
16:00 - 20:00 Working on a FASTLANE business
20:00 - 22:00 Working on building a JOB business - finishing orders and advertising mainly
22:10 - 22:50 Reading a book and hitting a sack
Based on this schedule, I'll have 6h a day to spend on working on a JOB - this will mainly involve trying to somewhat scale it by advertising it (for free), answering to customer inquiries and finishing their orders. In addition, I'll have 7h a day to spend on testing my FASTLANE business idea that I believe can hit a home run if executed properly. In a week, I will have 36h for my JOB business and 42h for my FASTLANE business.
Do you think I am running a risky show here? Should I stop working on improving my JOB business that provides me with a safety net and simply fulfill orders of returning customers and spend the remaining time on testing a FASTLANE business? Or should I stick to working on improving my JOB business and use earnings to test my FASTLANE business instead and if a FASTLANE business begins to get traction simply slowly shift from my JOB business onto my FASTLANE business?
It's all about time and money exchange here - I don't make much from working on a JOB business and sometimes I make nothing by posting stuff and creating marketing material. In overall, I'd say my hourly rate is €20 and I have a luxury of working from home, which means no overheads whatsoever. Plus, it makes me feel somewhat secure, knowing I have a slight income flow coming on a weekly basis.
I know there are many Pro's and Con's. But, in general, what would your advice be? Risk it all and go all-in or leave 40/60 time ratio between 2 businesses? If my FASTLANE idea flips, I can keep working on a JOB I created for myself to fund other business ideas, instead of raising a white flag and going back to an office.
What are your thoughts? Advice? Suggestions?
I am really stuck in my own head - every little input helps!
Thanks!
It's 1:40 am in Ireland and brainstorming doesn't leave me alone. I would like to hear your advice and suggestions based on my current situation, please. I think just thinking about it consumes 30% or so of my energy a day that could be redirected elsewhere.
So, here is my situation:
I've built a somewhat good reputation for myself doing all kinds of stuff - such as writing CVs and Cover Letters, business plans and so on. I make like €400 a week out of this and it currently consumes like 20 hours. I get to keep all profit - no expenses whatsoever. It makes me feel somewhat secure, considering the fact that I am hustling full-time now and have no paycheck.
Here's the dilemma:
This business can't be automated. It's a JOB. My plan is to use earnings from this business in order to test various other business ideas that could help me generate more automated income and build a solid business with a reputable brand and I believe I have found exactly that couple of months ago, but didn't actually put work into it, but want to.
I have created a schedule (MON-SAT) for myself yesterday and here how it looks:
4:50 - 5:00 Waking-up and taking a cold shower
5:10 - 5:30 Jogging with a dog
5:40 - 5:50 Meditation
6:00 - 7:00 Gym
7:50 - 10:50 Working on building A JOB business - finishing orders and advertising mainly
10:50 - 14:00 Working on a FASTLANE business
14:00 - 15:00 Working on building a JOB business - finishing orders and advertising mainly
16:00 - 20:00 Working on a FASTLANE business
20:00 - 22:00 Working on building a JOB business - finishing orders and advertising mainly
22:10 - 22:50 Reading a book and hitting a sack
Based on this schedule, I'll have 6h a day to spend on working on a JOB - this will mainly involve trying to somewhat scale it by advertising it (for free), answering to customer inquiries and finishing their orders. In addition, I'll have 7h a day to spend on testing my FASTLANE business idea that I believe can hit a home run if executed properly. In a week, I will have 36h for my JOB business and 42h for my FASTLANE business.
Do you think I am running a risky show here? Should I stop working on improving my JOB business that provides me with a safety net and simply fulfill orders of returning customers and spend the remaining time on testing a FASTLANE business? Or should I stick to working on improving my JOB business and use earnings to test my FASTLANE business instead and if a FASTLANE business begins to get traction simply slowly shift from my JOB business onto my FASTLANE business?
It's all about time and money exchange here - I don't make much from working on a JOB business and sometimes I make nothing by posting stuff and creating marketing material. In overall, I'd say my hourly rate is €20 and I have a luxury of working from home, which means no overheads whatsoever. Plus, it makes me feel somewhat secure, knowing I have a slight income flow coming on a weekly basis.
I know there are many Pro's and Con's. But, in general, what would your advice be? Risk it all and go all-in or leave 40/60 time ratio between 2 businesses? If my FASTLANE idea flips, I can keep working on a JOB I created for myself to fund other business ideas, instead of raising a white flag and going back to an office.
What are your thoughts? Advice? Suggestions?
I am really stuck in my own head - every little input helps!
Thanks!
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.
Last edited: