Entering back into the slow lane

[MrYoshi]

So I run a leads generation/review site business and I started the company about 8 months ago and went full time in September. I've spoken with about 30 different marketing directors and none of them are interested in paying us up front for leads, but I know we will find a few at some point. When I first started this business I wanted to eventually work with another VC-backed company in order to leverage their systems. I did not plan on contacting their CEO until we had revenue coming in and our platform was ready, but he recently messaged me in regards to a job offer. I was a bit surprised and I had no intention of working a 9-5 again, but this seems like a good opportunity for the industry I'm in. They're also not a direct competitor to us and the sales director told me that I could work on this project on the side. However, I have a few problems that have been bothering me.

• My partner is a close friend who is in medical school full time and acts only as an advisor to the business. None of us have had success in building a business in the past, but he helped a ton before he started school in August.
• I often worry that I need to take a step back and figure out if this business aligns with my ultimate goal of having a passive income stream. I'd like to work on it, but the project is so massive when I actually think about all the research needed. Our industry has a ton of competitors and some who are worth $300 million to $2 billion.
• I read Unscripted and wanted to double check if I had enough cash to last me until the end of my apartment lease. I miscalculated nearly everything and I'll be way behind on my lease payment in a few months. I also did not listen to my partner who told me to go back home in order to invest more in the business.
• I often find myself wanting to just learn a few new skills like web design + development, but I feel pressured to work in the business only.

I feel lost now and don't really know how to approach things. I quit my other job before we had the right parameters set in place. My gut is telling me to put a hold on this and enter back into the slow lane until my lease expires in July. I'll build this company on the side or find something else that can make money and move back home to save.

The thought of having to work again bothers the **** out of me, but I'll do whatever it takes to make it. Has anyone found a good balance between working a slow lane job and having a business on the side?

 

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[MrYoshi]

So I spoke to my partner and holy **** that was all I needed. I had a ton of things on my mind and I let it all out. We came to the conclusion that if we're going to pursue this then we have to be patient because this is a large project. I got to the next round in the job interview process, but I'm going to let both co-founders know that we have a side project that is in the same space as them. I'm going to be insanely transparent with both of them so there are no surprises afterward. The goal is then to optimize my schedule around working a 9-5 and move back home to pursue this thing full time once my lease ends. Hopefully, we can make some money while I work on the side, but we are talking in more detail later. To anyone that is not satisfied with their current situation, I highly recommend sitting down with partners and letting them know what you like and don't like about the current approach to business. For now, I'll plan out a backup plan just in case I don't get this job and will have to hustle on the side to pay rent.

 

[Gigi Rodgers]

I skimmed over this, but dropping my two cents in.
1 - the business wasn't doing as well as you hoped. Sounds like you need to pivot the idea if these CEOs aren't interested. Good to know.
2 - you're going back into the slow lane to get your self financially stable. No shame in that.
3 - you're communicating with your partners and not being shy about where you are in your life right now - financially and emotionally. You're ahead of the curve.

So all in all, good job. Good adulting.

 

[ljb7]

So I spoke to my partner and holy **** that was all I needed. I had a ton of things on my mind and I let it all out. We came to the conclusion that if we're going to pursue this then we have to be patient because this is a large project. I got to the next round in the job interview process, but I'm going to let both co-founders know that we have a side project that is in the same space as them. I'm going to be insanely transparent with both of them so there are no surprises afterward. The goal is then to optimize my schedule around working a 9-5 and move back home to pursue this thing full time once my lease ends. Hopefully, we can make some money while I work on the side, but we are talking in more detail later. To anyone that is not satisfied with their current situation, I highly recommend sitting down with partners and letting them know what you like and don't like about the current approach to business. For now, I'll plan out a backup plan just in case I don't get this job and will have to hustle on the side to pay rent.

At the very least, it sounds like you and your biz partner have a good connection.

I could almost feel the desperation in your initial post. I've been there - when it feels like you're sinking. It's extremely hard for somebody that isn't in your position (or know much of anything about your business) to provide you with actionable steps on how to resolve it. Talking it through with a mentor or even better, your business partner is always the best thing to do. And always be 100% transparent, because it will eventually come back around to bite you if you don't.

Either way, sounds like you're on the road to getting this set right. Good luck with the 2nd round of interviews!

 

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[MrYoshi]

Thanks to both of you for posting. We have a full plan now to approach this business and I made it to the next round of the job interview. I'll build the business on the side and the next time I go full time I'll be prepared so my willpower isn't drained every minute.

 

[Iammelissamoore]

Seems like you already are on the right path in addition to the great responses provided.

One of the scariest things when we get into the loving concept of Fastlaning is the idea of going back to the slowlane, and there is nothing wrong with that. I believe the important thing is to recognise where we stand between slowlane and fastlane and to focus, 1. On our goals, yes; but more importantly 2. The necessary steps to take us to each part of the journey. Many times in life we may have to restart, or come off the high horse - temporarily - just to set things straight and to go from 'just keeping our heads barely above water' to gaining full control of our situations and if that requires humility to get back to the workforce whilst building our fastlane businesses, then so be it. What is good in a situation as such is that we are 100% clear where our heads are at and we are focused on creating greatness, so, no shame in what you're doing, at least you are clear about what you want to get done along the journey and that is very important.

Kudos on making the tough, but necessary decision to set things in motion. Wishing you success on your journey.

 

[minivanman]

It was such a smooth read until I got to the word 'partner'. I know.... you and your partner are different.....

 

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[arcola]

Seems like you already are on the right path in addition to the great responses provided.

One of the scariest things when we get into the loving concept of Fastlaning is the idea of going back to the slowlane, and there is nothing wrong with that. I believe the important thing is to recognise where we stand between slowlane and fastlane and to focus, 1. On our goals, yes; but more importantly 2. The necessary steps to take us to each part of the journey. Many times in life we may have to restart, or come off the high horse - temporarily - just to set things straight and to go from 'just keeping our heads barely above water' to gaining full control of our situations and if that requires humility to get back to the workforce whilst building our fastlane businesses, then so be it. What is good in a situation as such is that we are 100% clear where our heads are at and we are focused on creating greatness, so, no shame in what you're doing, at least you are clear about what you want to get done along the journey and that is very important.

Kudos on making the tough, but necessary decision to set things in motion. Wishing you success on your journey.

When did the faslane forum become baby lotion soft? Geez. A couple years back OP would be crucified for being an action faker.

 

[arcola]

So I spoke to my partner and holy **** that was all I needed. I had a ton of things on my mind and I let it all out. We came to the conclusion that if we're going to pursue this then we have to be patient because this is a large project. I got to the next round in the job interview process, but I'm going to let both co-founders know that we have a side project that is in the same space as them. I'm going to be insanely transparent with both of them so there are no surprises afterward. The goal is then to optimize my schedule around working a 9-5 and move back home to pursue this thing full time once my lease ends. Hopefully, we can make some money while I work on the side, but we are talking in more detail later. To anyone that is not satisfied with their current situation, I highly recommend sitting down with partners and letting them know what you like and don't like about the current approach to business. For now, I'll plan out a backup plan just in case I don't get this job and will have to hustle on the side to pay rent.

Come on man Sylvestor stallone purposely avoided getting 9-5 because he knew it would kill his drive. Getting a check in the mail at an upper level job is a drug you will become addicted to and it will kill your dreams.

If you need a job to pay the bills make in entrepreneurial at least like uber or door dash or do like MJ did. You don't have a back bone and don't believe in your own business... time to move on?

 

[MrYoshi]

When did the Faslane forum become baby lotion soft? Geez. A couple years back OP would be crucified for being an action faker.

Well, this is not a case of action faking. I woke up at 5 am each day and began work at 6:15 am and stopped at 7 pm. I met with VPs at Walmart, Kraft Heinz, Panera Bread, Unilever and many other large brands. I obtained 40 leads to sell to vendors, but none of them were interested in partnering up with us so the issue was not lead generation or action faking. The problem was that I had no clear plan when I quit my job and suffered the consequences of it. I don't need anyone to hold my hand in this game and understand reaching my goals is going to be insanely tough. That is why I'm setting myself up and come up with a better game plan the next time around. I am all for working insanely hard and having tunnel vision, but at some point overworking can be a form of laziness in itself.

 

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[MrYoshi]

Come on man Sylvestor stallone purposely avoided getting 9-5 because he knew it would kill his drive. Getting a check in the mail at an upper level job is a drug you will become addicted to and it will kill your dreams.

If you need a job to pay the bills make in entrepreneurial at least like uber or door dash or do like MJ did. You don't have a backbone and don't believe in your own business... time to move on?

Progress Thread - MrYoshi's Journey to Freedom
There is a long-term play here, but I did not mention it in this thread. If you click on my progress thread above I go over how working for this company would put our team at a huge advantage as I'd learn more than enough to build out our platform.