Got the Golden Handcuffs and Can't Get Free...

[Ocean Man]

@BizyDad @biophase, thank you guys for the tough love and talking sense into me.

I’m going to start saving and learn more about the acquisition process. I’m more interested in that path than starting from scratch. Especially after reading some threads that @BizyDad mentioned from a user’s experience.

I don’t know much about numbers or financials, but I’m going to try and learn.

I’ll go the seller-finance route, save the 10% for an SBA 7a once I find something I like.

Just need to save up for the down payment right now. I’d like to find something absentee-owner (I’ll still be working on the business), but just something that would allow me to keep my job so that I can help funnel that money into the business or for whatever costs are needed. And visit after work (2pm). I also work remotely so I can also possibly work at the business itself. But that’s thinking way too far ahead.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

@Ocean Man @BizyDad @biophase @Ian Thompson @Black_Dragon43 -- I've moved this conversation to its own thread as it seems to have quite a dialogue. Carry on...

 

[Ocean Man]

Just signed my first NDA and business buyer registration on a business that seems interesting from bizbuysell. Legalese is intimidating. Don't have the money yet, but this NDA is just seeing what this company is is all about, learning more about this potential business, etc...

Still an action fake though.

My brain froze as soon as I started to see the financial statements. I need to learn how to read this stuff!

 

[Kevin88660]

How am I actually supposed to know the answer to this?

I've made some big assumptions based on very little info...

When you have something valuable enough that you are willing to pay out huge salaries and bonuses and equity in the company just to keep them around, engaged, and on board, then you'll understand.

Maybe wants to keep his trade secrets secret. Maybe he wants all of a senior person's time and expertise, not a split of senior and junior. Maybe he'll see his employee is lazy, fire him, and hire someone else who's interested in doing the job for the next 5-10 years.

And it's not double the workforce, because the senior person will be cutting back on his hours according to the advice given.

If this is such a great idea, why didn't the company hire the other employee in the first place?

Who cares why? They had a reason and that reason is above the pay grade of the poster.



Hey, what's a little corporate fraud between friends, right?

You take a job, you agree to a certain set of parameters. Your advice is, who cares about that agreement? Nobody knows, nobody gets hurt.

Here's the same logic spelled out...

You spend time with another woman who is not your wife, you pay a guy to do your home chores when your wife is not looking so you can more time to spend with this other lady, it's ok as long as you don't tell her, right?

Good luck with that.

-----

It is one of the hardest things to do in life and in business, to think like someone else, to think like someone that is not you and does not come from your life experiences or background.

But one of the better ways to become the kind of person who is capable of running multimillion dollar companies is to spend some time thinking like the people who run multi-million dollar companies.

Some business owners might actually like Ocean Man doing this kind of thing.

But even if the boss would want this agreement and arrangement, it seems to me that there's better ways for Ocean Man to approach leveraging his time and money.

Hiring a VA to help you achieve your salary is still small time thinking.

If I point out that it violates CENTS, would that make it easier for you all to understand and accept? This advice belongs on a "4 hr workweek" hustle lifestyle type forum, not a real entrepreneur forum.

Now here's a fun one. I recently met a guy in a similar situation. He walked away from his "golden handcuffs" and instead set himself as an independent contractor for the company he worked for. He took somewhat of a total compensation cut, but he got back his freedom.

Then he hired people. And signed more clients.

Today he runs a software dev company with 400+ employees all over the world and gets contracts for all kinds of dev work.

The lesson here was not that Sam and Ian had a bad idea (though they did). The lesson is, when faced with the legal obstacles I presented, they simply doubled down on their idea instead of better allocating the same resources.

Hopefully I'm not wasting my time here. But at this point, the conversation is going so far beyond the original post, I need to bow out and get my own work done.

How is it a “fraud” to pay someone to do part of your job? I don’t think so.

It happens often that you receive help from colleague or someone outside the company with some task either you don’t have time to finish or you need their technical expertise.

In fact if I am the boss i would be happier if someone is paying out of his own pocket to finish the job faster. At end of the day is the work productivity better off?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[BizyDad]

How is it a “fraud” to pay someone to do part of your job? I don’t think so.

I have read 3 articles of companies suing employees for exactly this. One of several grounds for the lawsuits is fraud alleged.

Perhaps it depends on the work contract.

But certainly a company is within its rights to dictate who can and cannot work on their work.

Passing work off as your own that isn't yours and accepting payment for this is a deception that can be construed as civil fraud at the very least.



I'm not an attorney guys, but feel free to research it. These cases are being allowed to proceed. I know at least one was convicted (but the guy did 0 work, and kept "earning" raises).

It is one thing to come at me with "I don't think you are right Bizydad".

It's another thing to actually look into it and teach us if you are right.

I don't want to continue to discuss this based on people's opinions.

 

[WJK]

I skimmed through all of this. I understand exactly what you're talking about. I was a trophy wife, when I was young and cute, to a guy who had a huge contract with a major oil company. We ran around with the executives and my ex had his offices in their downtown office tower. The golden handcuff reference is real. I knew a lot of them that had the same problem.

Here's how it works. You get roped into a lifestyle that takes that kind of income. The kids are in private schools. The wives redecorate their homes together. Of course, the homes must be in the right neighborhood with the right amenities. They vacation together or at least compare notes. They own the hottest big-bot toys and belong to the right private clubs. They are seen at the politically correct events They all buy designer products and they know when someone has purchased a knock-off -- totally unacceptable. The executives at that company even wore the same pants and shirts as each other on their days off. They had gone to prep school together and the same Ivy League university It was all about being a closed social circle. They moved as a group in tandem. Playing that game isn't cheap or forgiving. You are either in or you're out.

So, here's your real challenge -- how do you maintain while you make changes?

Here's what I would do. I find a new "religion" called minimalism coupled with turning green. It's all just an acceptable story to make your move. Under that cover story, I'd start with debt reduction and cutting my spending. When the guys around you ask, just tell them you are trying out this different belief system You're tired of paying for stuff you don't want or need. You want to save the planet by not buying more stuff. You must reduce your lifestyle.

I'd start saving like a crazy squirrel getting ready for winter. Then I would start investing. Personally, I'm into RE. You can invest in properties, product designs, or businesses. (There's a doctor here in my area that buys pieces of businesses with the money he makes from his practice.) And I'd start looking for my exit ramp. You can take your time and carefully step out of your golden handcuffs.

 

[Black_Dragon43]

Passing work off as your own that isn't yours and accepting payment for this is a deception that can be construed as civil fraud at the very least

This is the kind of fraud I think you need to sometimes be willing to engage in to be a hotshot as an entrepreneur. Cutting a few corners, so long as the job gets done, can imo a good thing, not a bad thing, the law notwithstanding.

Just because something is law, doesn’t mean you should blindly follow it. Imagine if Ghandi thought like this… would never have produced his own salt, because it was illegal for Indians to do it…

Same way as people seek all possible loopholes to pay less in tax. That’s not a bad thing.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[WJK]

This is the kind of fraud I think you need to be willing to engage in to be a hotshot as an entrepreneur. Cutting a few corners, so long as the job gets done, is imo a good thing, not a bad thing, the law notwithstanding.

Just because something is law, doesn’t mean you should follow it. Imagine if Ghandi thought like this… would never have produced his own salt, because it was illegal for Indians to do it…

Uh? Cheating is cheating.

 

[Black_Dragon43]

Uh? Cheating is cheating.

Why is it cheating? If I pay someone else to do my work, the work they do is mine, I have acquired it and therefore I am entitled to pass its fruits to someone else.

The fact that you transfer the fruits of that labor from you to your employer, I see nothing wrong with that.

You are tasked to complete a job and produce the fruits. That’s done within budget and on time. That’s all that your employer should care about.

 

[WJK]

Why is it cheating? If I pay someone else to do my work, the work they do is mine, I have acquired it and therefore I am entitled to pass its fruits to someone else.

The fact that you transfer the fruits of that labor from you to your employer, I see nothing wrong with that.

You are tasked to complete a job and produce the fruits. That’s done within budget and on time. That’s all that your employer should care about.

If you are an independent contractor, that's true -- as long as it is not specified in the contract who must complete the work. Or it is legally limited by law, as in a licensed person to do a specific job or activity. You are talking about an employee/boss situation, which is a different relationship. It's obvious from your response, that you haven't taken the employer's role.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GuestUser4aMPs1]

Dude is it really as bad as you think it is?

It sounds like you're just caught in a cycle and need to carve out more flexibility from the work you're currently doing.

A big reason why this forum exists is because most people don't know how to command a high salary and streamline it well enough so that you have more free time and flexibility.

That was the promise of entrepreneurship as I saw it many years ago when I joined this forum.

Keep in mind that work has fundamentally changed. It's not 1997 anymore when MJ was in the grind. You don't have to be in an office and pretend to look busy. You don't have to own a 'fastlane business' to get some of the benefits touted when you do.

Employers care more about results generated than by raw work hours, and that style of management is slowly dying off with the management generation that created it.

So if you want to leverage your current position to get some of the inherent benefits you're after (time freedom + high salary), here's an updated gameplan for the current year:

#1 Demand 100% remote and if you don't get it, find somewhere else to work who will. Being free from the office is crucial here.

#2 Then use your ingenuity to find ways that will cut your work hours by 1/10th.
(what?!?! TIME FREEDOM within a JOB?!?! Blasphemous!). Boom, now you know what it feels like to own a fastlane business without having to build one.

#3 IF you need extra money for a SPECIFIC FINANCIAL GOAL (such as acquiring a property): Use the extra work hours to contract on the side or start a business that requires zero time or employees to continually operate (so it doesn't interfere with your current responsibilities).

Bonus #4 Get out of your high Cost of Living city. You're Seattle if I remember correctly? If so your high salary isn't going to mean shit after taxes and COL. Cities suck the life out of people and Seattle is especially no exception.

A big reason why people come to this forum is that they literally have no idea how to command a large salary for themselves in order to reach the financial goals they have.

So they think Entrepreneurship is the answer. It is not (always). There are many paths.

I've found that doing something remote-only that is notoriously difficult and is in high demand (i.e. Sales / SWE) is one of the best ways to get the benefit one gets being "fastlane" (High Pay + Time Freedom) without having to spend all the years grinding it out to build up a business.

You're incredibly fortunate to be in the position you're in and I suggest you see it as such, just make some small tweaks.

Because here's the downside....

You *will* work HARDER and LONGER than everyone else as a business owner. And. You will make waaaay less money than a job for many years. But (and it's a big BUT) - IF in the end you want to ultimately be *filthy rich* (because you'll be banking a ton of money after you hit an inflection point in 4-5 years) you can be, so long as you ALSO stick to a plan of selling within 6-10 years. You can't sell a job, but you can sell a business.

In my opinion, Entrepreneurship only makes sense once you start making at least $300k from a Job. Based on conversations I've had, that's around the level it makes sense to build a business because no employer will pay you more than that even as a VP of Sales etc...You become waaaaay too expensive for them.

Hope it helps. Keep in mind this is coming from a guy who:
- Ran a business and sold it for an unspectacular amount of money
- Worked as a business broker for several years after that
- Now have a sales role in a 'boring' company making a 'boring' salary

Been there done that, there are pros and cons.

I'm making *double* and working *much less* as an employee than I ever did as an entrepreneur/consultant.

I've seen a lot of burnt-out entrepreneurs at the end of their business lifecycle who lost sight of the ultimate goal they had when they set out.

I don't believe entrepreneurship is a wholly perfect path. I believe that it's appropriate in some circumstances and depending on your goals. But when it comes to career, doing your best to stack the upsides while minimizing the downsides is the best approach in my opinion, and it requires a lot of nuance to get it right.

 

[ZF Lee]

Dude is it really as bad as you think it is?

It sounds like you're just caught in a cycle and need to carve out more flexibility from the work you're currently doing.

A big reason why this forum exists is because most people don't know how to command a high salary and streamline it well enough so that you have more free time and flexibility.

That was the promise of entrepreneurship as I saw it many years ago when I joined this forum.

Keep in mind that work has fundamentally changed. It's not 1997 anymore when MJ was in the grind. You don't have to be in an office and pretend to look busy. You don't have to own a 'fastlane business' to get some of the benefits touted when you do.

Employers care more about results generated than by raw work hours, and that style of management is slowly dying off with the management generation that created it.

So if you want to leverage your current position to get some of the inherent benefits you're after (time freedom + high salary), here's an updated gameplan for the current year:

#1 Demand 100% remote and if you don't get it, find somewhere else to work who will. Being free from the office is crucial here.

#2 Then use your ingenuity to find ways that will cut your work hours by 1/10th.
(what?!?! TIME FREEDOM within a JOB?!?! Blasphemous!). Boom, now you know what it feels like to own a fastlane business without having to build one.

#3 IF you need extra money for a SPECIFIC FINANCIAL GOAL (such as acquiring a property): Use the extra work hours to contract on the side or start a business that requires zero time or employees to continually operate (so it doesn't interfere with your current responsibilities).

Bonus #4 Get out of your high Cost of Living city. You're Seattle if I remember correctly? If so your high salary isn't going to mean shit after taxes and COL. Cities suck the life out of people and Seattle is especially no exception.

A big reason why people come to this forum is that they literally have no idea how to command a large salary for themselves in order to reach the financial goals they have.

So they think Entrepreneurship is the answer. It is not (always). There are many paths.

I've found that doing something remote-only that is notoriously difficult and is in high demand (i.e. Sales / SWE) is one of the best ways to get the benefit one gets being "fastlane" (High Pay + Time Freedom) without having to spend all the years grinding it out to build up a business.

You're incredibly fortunate to be in the position you're in and I suggest you see it as such, just make some small tweaks.

Because here's the downside....

You *will* work HARDER and LONGER than everyone else as a business owner. And. You will make waaaay less money than a job for many years. But (and it's a big BUT) - IF in the end you want to ultimately be *filthy rich* (because you'll be banking a ton of money after you hit an inflection point in 4-5 years) you can be, so long as you ALSO stick to a plan of selling within 6-10 years. You can't sell a job, but you can sell a business.

In my opinion, Entrepreneurship only makes sense once you start making at least $300k from a Job. Based on conversations I've had, that's around the level it makes sense to build a business because no employer will pay you more than that even as a VP of Sales etc...You become waaaaay too expensive for them.

Hope it helps. Keep in mind this is coming from a guy who:
- Ran a business and sold it for an unspectacular amount of money
- Worked as a business broker for several years after that
- Now have a sales role in a 'boring' company making a 'boring' salary

Been there done that, there are pros and cons.

I'm making *double* and working *much less* as an employee than I ever did as an entrepreneur/consultant.

I've seen a lot of burnt-out entrepreneurs at the end of their business lifecycle who lost sight of the ultimate goal they had when they set out.

I don't believe entrepreneurship is a wholly perfect path. I believe that it's appropriate in some circumstances and depending on your goals. But when it comes to career, doing your best to stack the upsides while minimizing the downsides is the best approach in my opinion, and it requires a lot of nuance to get it right.

100% agreed.

I'm still working for clients in my writing gigs, but having to juggle them with my other volunteer, networking and family stuffs had me falling apart a few months ago. I started thinking which one to quit, which relationships to say goodbye to (even though they are mostly very good), and whether my Fastlane aims were too far away.

Was it SILLY for me to do so much work, at such a young age?

I also felt so burnt out that I fell sick a few times, with terrible cough.

And I was blaming everyone for not helping me do my stuffs.

Then I thought to myself...the LAST time you felt depressed and quit all your work, you lost some major clients and set back your OWN skills mastery (sales, marketing, writing, etc) by weeks, perhaps months. WHAT if it is possible to still have everything (as Kak said)?

I realised I couldn't have my old attitude of feeling sorry for myself. I need to do different stuff!

I remembered this video from the famous Chinese drama 'Three Kingdoms'. In this video, a famous general, Cao Cao speaks to his troops after a huge defeat in war:

View: https://www.youtube.com/watch?v=NjP8_KdtlO0


One of the BEST leadership moves he did here was to remind his soldiers of the strengths they still had-- which would help them improve in future battles. It is easy to see doomsday when we are down...when actually opportunity abounds.

So I took note of my strengths:

1. MOST of my work is done online. The few jobs I have physically...the one thing wearing me out is the long commute to the client offices. I COULD ask to WFH, unless I really do need to be there physically to speak directly on important matters.

Being there physically is also a show of leadership, in a time where some may use WFH to hide and skimp on work.

2. My client work is NOT starting from zero. Unlike few years back, I already had a portfolio. I already have some processes to churn out emails, sales pages, etc. All I need to do is to figure out how to make my processes more efficient.

And there are many ways to do them. I can hire some out, attend some masterclasses to improve my skill, chop down my offers, raise some prices...I just need time to try them out.

I think that whenever I run into a wall, it is time for my own work methods to improve.

It is NOT a trap. It is opportunity to grow and learn new stuffs.

Even if I have to pay for another online course to learn new things, most WILL have mastermind groups of their own. Sometimes you can even email/talk with the guru himself. This means more friends and more ideas coming in...

3.My networking/volunteer events are something 20-year-olds would kill for.
I help out at my church's mens' ministry, and occasional the few charity events by my stock trading mentor.
The work is tiring and often thankless. There ARE also politics and lazy asses in charity/volunteer work.

Yet there, I can sit down with businessmen, top folks of their crafts...and listen to their life stories.

Many of their OWN kids chose to just follow their own youngster gang, and ignore their fathers' work in church or outside.

So I thought...if their own kids don't wanna listen to them, I myself should go support them, and listen to what they have to say.

If I still hung around with the youth fellowship, how on earth can I listen to YEARS of blood and tears shared by men who are aching to be heard? Sad to say, one too many youth groups are jam-packed with inexperienced kids who are looking for the next dopamine-ridden seminar or sermon.

A few of my newfound contacts even gave me jobs.

I never asked them for it. I just told them what I did for a living when they asked me.

In fact, I feel this is the MISSING equation in my Fastlane plan.

All these years, I had thought since MJ did lots of things himself in his own biz, I should follow. But after seeing how the men lead other people in my works...I realise there is much beauty in leadership, even though it's tiring.

I realised I could keep my volunteer work.

But I should invite others to join me too. And perhaps help me out.

4. Family is NOT a burden.
I used to think my family's non-Fastlane mindset was an obstacle. And I should spend less time with them.

Now I realise that actually, I can love them in many ways!
Even if they don't share my dreams, goals or have nothing good to say about my work.

While my own OLDER brother hid himself in his room, or buried his snout in his smartphone...I was always at my parents' side when they wanted to have short trips or visits to other relatives.

At their place, I stopped complaining about chores. I cleaned as much as I could, even though I felt sick at times. I thought to myself, 'If I can get other people's work done...why not at my own folks' home?'

Of course I had to reschedule my other project to make time for family trips. But I quickly found there is magical power in informing my clients/partners a few days early, and ensuring their deliverables get done on XXX period in future.

Didn't need Calendly.

Just a few Whatsapp texts immediately.

Sometimes I have been mistaken by outsiders as the 'older brother'...even though I tell them I am the youngest in my family.

5. Cities aren't always a soul-suck.
I am currently in Kuala Lumpur, the busiest city in Malaysia and feared for bad traffic, stress, high living costs, etc.

Or so I thought...

In short, I realise you just need to know how to shop.

Want cheap foodstuffs? Hit up Shopee, Mydin, etc.
Bad traffic? Arrange your schedule to avoid peak hours or locations, public transport, carpool...see what the situation
can offer.

For stress release, I didn't know KL actually had entire forests until some friends brought me to this place.
Wonderful green trekking spot. I helped the mens' ministry organise a trip there last April.
No vehicle horns, no bustle...except for birds, crickets and monkey runs.

Goodness knows where other nature spots or quiet zones that I DON'T know of in KL...

I admit my own neighbours don't even show up for HOA meetings...so I don't know them well.

But I realise my networking circle literally skyrocketed when I stayed on in KL. As I have shared, there are other ways to find folks who share your passions. If I had stayed back in my hometown, I wouldn't enjoy this much quality of a social circle.

Since then, I still have tiring days.

But I no longer huddle in depression. I go about doing my work, and am actually pleased with what I have.

TLDR, I don't think it's always a 'business problem'. Or an 'entrepreneurship vs job' problem.
I think its a challenge that calls for incremental improvements first, before the Great Leap.

For me, its easier to work on improving on what strengths I already have...and when I find they have maxed out, I can then use these to break into new ground...like a true-blooded Fastlane biz, who knows?

 

[AceVentures]

It appears nobody has stopped to congratulate you. You're 25 and kicking a$$ in a high-potential high-skill area. ~200k salary is awesome, especially at 25.

My honest advice would be to milk it. What you want to develop is a killer mindset and grit. Use your job as an opportunity to develop those skills. Learn to learn while you're getting paid.

Even if it takes you 5 years to get to 400k - so what? You'd be 30 and making a killing. I definitely think it's possible for a salaried tech employee to get from 200 to 400 in 5 years.

Salary potential aside - the upside in software is huge, especially with the AI revolution ahead of us. Who knows, maybe after 3 years you could be in the top 1% of people that are masters at a specific library or workflow and then come together with a few of your peers to create industry leading products worth hundreds of millions.

Keep your head down and work your a$$ off for a few years.
Focus on getting more done with less.
Reduce all waste.
Maximize your health.
Create SOPs for yourself so you can get more done with less time.
Learn immensely valuable skills along the way.
Do so while making 400k/year and working <5h a day.
Use your acquired skills, network, and free time to create more valuable solutions for people.

WORST CASE SCENARIO: You're 30 years old with a bunch of money and a highly valuable skillset.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[gpetukhov]

Got the golden handcuffs man, with my current trajectory, 1-2 years I'm currently heading towards the 300-400k+/yr territory. But I'm thinking of my possible options. We have forum members that have shown you don't have to quit your job to start something. But I'm thinking right now where I'm working at, what does the business need that I might be able to create or help with. What about its customers, etc... Learning more about the industry on their dime.

I feel it's different for you as you have a great salary - maybe save up to buy an established business or begin buying real estate rentals.

 

[Makaveli7]

I bought a business last year for peanuts. A first year turn around led to it nearly doubling my income. This income stream is now an asset I can sell IF I choose to retire or just want to be done with the biz.

Hi @BizyDad . What was your source or platform for finding this business?

I am currently looking for my own acquisition as well on Flippa, BizBuySell, and Empire Flippers, but the quality of businesses seem to be lacking on these platforms. (or maybe I am searching wrong?)

If you're willing to share how you found this particular business, it would greatly help us. Thank you.

 

[BizyDad]

Hi @BizyDad . What was your source or platform for finding this business?

I am currently looking for my own acquisition as well on Flippa, BizBuySell, and Empire Flippers, but the quality of businesses seem to be lacking on these platforms. (or maybe I am searching wrong?)

If you're willing to share how you found this particular business, it would greatly help us. Thank you.

I tell the specific story in this thread GOLD! - HOT! - EXECUTION - How Turning Down Business Can Lead To More Business

And I talk about my strategy further in this thread MINDSET - How Marketing Agency Owners Chase Thousands and Ignore Millions

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JordanK]

@Ocean Man If I remember correctly you are living at home too? That's another 2k a month (ish) saving in Seattle. Pump that money into a property hold it for (2 years I think it is in the states?) and then sell it on tax free. You could rent out rooms too if you are bothered or have friends interested in staying!

 

[EmotionEngine]

I got the golden handcuffs from working as a software engineer with a high salary and benefits. But damn... does listening to this book really speak to me now more than ever.

I'm in the same spot. The paycheck is "instant amnesia" as MJ puts it. The day is coming where you and I have to make a choice though. Remember the corporate job may in some cases be less safe than entrepreneurship. The company I work for had multiple layoffs. I survived, for now. Tired of that stress looming over me like a spectre.

Time to break free.

[Edit: Here is something that may help. The Tail End — Wait But Why]

 

[WJK]

I'm in the same spot. The paycheck is "instant amnesia" as MJ puts it. The day is coming where you and I have to make a choice though. Remember the corporate job may in some cases be less safe than entrepreneurship. The company I work for had multiple layoffs. I survived, for now. Tired of that stress looming over me like a spectre.

Time to break free.

[Edit: Here is something that may help. The Tail End — Wait But Why]

Only break free if you want to and are ready... You can start a side gig. You can save $ toward that moment. You can make the critical contacts you will need if you are laid off or make the break. You can think through your assets and figure out an exit plan -- an "if-then" strategy. All this is like packing a parachute before you jump out of a plane. You do know that you don't have to splatter your body on the rocks when you leap, right?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[EmotionEngine]

Only break free if you want to and are ready... You can start a side gig. You can save $ toward that moment. You can make the critical contacts you will need if you are laid off or make the break. You can think through your assets and figure out an exit plan -- an "if-then" strategy. All this is like packing a parachute before you jump out of a plane. You do know that you don't have to splatter your body on the rocks when you leap, right?

Well, I'm not advocating people jumping without a plan. "If you fail to plan, you plan to fail." What I'm saying is the time will come when a decision needs to be made or you will die waiting as too much time has passed. Personally, I have a very very large savings that I continue to pad for nearly no reason because I already have a ton of money to start. The paycheck is an addiction in itself.

I do not make decisions on a whim. I actually play it too safe to the point my elderly mother tells me to "take a risk for once".

 

[WJK]

Well, I'm not advocating people jumping without a plan. "If you fail to plan, you plan to fail." What I'm saying is the time will come when a decision needs to be made or you will die waiting as too much time has passed. Personally, I have a very very large savings that I continue to pad for nearly no reason because I already have a ton of money to start. The paycheck is an addiction in itself. Not to mention my gf makes well over six figures and will allow me stay at her place when I do jump. (She has pledged to help me in any way possible. Lovely woman.)

I do not make decisions on a whim. I actually play it too safe to the point my mother tells me to "take a risk for once".

Good. Congrats! You have basic common sense which is many times rare. So you have a landing pad and a gf Plan B. With that covered, what do you want to do if and when you make the leap? How do you see your life changing and in what direction? What will you be giving up in exchange to gain what? This is a trade-off that must be quantified so you can set benchmarks. Write it down. Dream a little. Yes, your future can take unknown turns, but what you are doing is a well-beaten path.

Besides giving your notice, what is your first concrete step toward your new life? And then? Your personal reasons for the change must be strong enough and worth the pain -- there will be pain and feelings of loss. It is a form of buyer's remorse that is to be both expected and cherished. The initial elation will wear off quickly when reality sets in. As long as you know it is coming, you can acknowledge it, handle it, and go on with your plan.

I know this sound elemental. But I still go through the same process each time I take a new fork in the road. It keeps away the "should-of, would-of, and could-of" moments from my future. Some of my moves may look wild and crazy from the outside, but they are well-considered and thought out before I leap.

 

[EmotionEngine]

Good. Congrats! You have basic common sense which is many times rare. So you have a landing pad and a gf Plan B. With that covered, what do you want to do if and when you make the leap? How do you see your life changing and in what direction? What will you be giving up in exchange to gain what? This is a trade-off that must be quantified so you can set benchmarks. Write it down. Dream a little. Yes, your future can take unknown turns, but what you are doing is a well-beaten path.

Besides giving your notice, what is your first concrete step toward your new life? And then? Your personal reasons for the change must be strong enough and worth the pain -- there will be pain and feelings of loss. It is a form of buyer's remorse that is to be both expected and cherished. The initial elation will wear off quickly when reality sets in. As long as you know it is coming, you can acknowledge it, handle it, and go on with your plan.

I know this sound elemental. But I still go through the same process each time I take a new fork in the road. It keeps away the "should-of, would-of, and could-of" moments from my future. Some of my moves may look wild and crazy from the outside, but they are well-considered and thought out before I leap.

Exactly 100% agree. That's something I'm continuing to work on. I have a few Google docs and Trello boards started with everything that needs to be done, goals, and even down to forming the LLC in my state. I'll continue fleshing it out.

Thanks for the tips, I'll take heed.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.