I could easily quit my job, but it isn't time yet

[biggeemac]

So, our little project that we have been working on for the last year and a half finally took off. We now net roughly the equivilent of my day job. But its not time for me to quit yet. I should be able to triple this within the next 2-4 months. However, since this has happened, I am finding that my productivity at work dropped by at least half. Fortunately, I have an IT job where I service remote areas and my boss lives in another state, and rarely checks in with me....because I have always been very productive and made my sites happy. I committed to myself that I would stay on the job for at least a year just to make sure I have scaled to a degree that I am comfortable with.

Anyone ever deal with this? How to I convince myself to stay on course until it is the "right time" ?

 

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[Fortune5ive]

Just make sure you're ahead of your financial obligations so that the basics are covered. You can't be emotional about such a move. It still must make $en$e and dollars.

 

[quanttastic]

So, our little project that we have been working on for the last year and a half finally took off. We now net roughly the equivilent of my day job. But its not time for me to quit yet. I should be able to triple this within the next 2-4 months. However, since this has happened, I am finding that my productivity at work dropped by at least half. Fortunately, I have an IT job where I service remote areas and my boss lives in another state, and rarely checks in with me....because I have always been very productive and made my sites happy. I committed to myself that I would stay on the job for at least a year just to make sure I have scaled to a degree that I am comfortable with.

Anyone ever deal with this? How to I convince myself to stay on course until it is the "right time" ?

You might look through this thread. The OP built an amazing business, and worked at his day job for the majority of time he did so. If I remember correctly he didn't quit his job until he had a month that had 600k in revenue.

GOLD - The Chronicles Of DDall - A Progress/Execution Thread (Damn $3Mg/$700Knet!)

 

[biggeemac]

Yeah, that's why I want to give it a year. We will be long out of the forest by then. I am just struggling with the mental aspect of not really needing my employer at this point. Its an unusual feeling......since I have ALWAYS depended on that paycheck to make ends meet.

 

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[Choate]

I should be able to triple this within the next 2-4 months

If you didn't have an employer and burned all boats, with your back against the wall and an extra 8 hours in your day, do you think its feasible you could 6x or 8x this instead of triple?

What happens if the going gets tough and you fall back to relying on your employer, who may develop disdain for you underperforming?

Merely playing devil's advocate here. It may be safer to work on both, but if you have already committed a year and a half to this to your "little project" (or should we say fully fledged fastlane vehicle of destruction launching you into freedom), it seems like it would be steady enough to work on full time.

If you've been getting sales for a year and its been slowly growing, I would jump on it. Conversely, if you just started getting sales, probably best to leave more time to test the waters before burning the boats to make sure there's no sharks lurking nearby (ha ha).

 

[MJ DeMarco]

Congratulations!

Very exciting time indeed.

IMO, the answer to your question depends on the longevity of your venture. Is it something that is trendy? Or can fade? Or can you see yourself in business for a decade?

 

[V8Bill]

Yeah, that's why I want to give it a year.

My advice; Imagine if this was your last year of working at 64 and you were about to retire. How excited would you be? You might really enjoy your last year. Put in a great big effort so they will miss you when you're gone. It'll help the time pass, you can fantasize about this being your last working "June, July, October, Holiday period"...etc Make it the "last of everything bad" and the time will fly. You'll probably end up being offered a promotion because of your new confident cheery attitude. It doesn't take any more time or effort to want to do a super job most times. Get some excitement bubbling and by then you'll have either saved a heap of cash (which is King in these situations). Work out what your essential expenses are (they should be about half your income) and try to hustle or save you way to 3,6 or 12 months worth of essential expenses as cash in the bank.

This will help you enjoy your last ever year of working, feel great at having your stash of cash and will allow you to relax because you know exactly how much the next year will cost you (minimum) and you'll feel you're in far greater control of at least your short term future. Just make sure you don't spend all that essential expenses cash on silly things. it's for covering all your essentials (be strict about this). Stay focussed. This is the year you prepare for freedom.

As @MJ DeMarco said...exciting times indeed!

 

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[Action Mike]

That's awesome! Congratulations, its a great feeling to see the light at the end of a tunnel. I almost saw the light at the end of the tunnel with my side business but things took a bad turn right when I was seriously thinking about quitting my J.O.B., a story for another day with a lot of lessons learned and working my way back up now. I understand the strong desire for independence, I CRAVE it.... I can taste it....I can feel it....

but...

This is a big move so make sure you are 100% ready and the business will stay steady long term. You may have to weather ups and downs depending on the economy.

A good friend and mentor of mine suggests making double your day job income, don't forget to account a little extra to cover self employment tax and SSI and health insurance. He works in RE mostly so part of that was to have extra money to continue investing in RE but I think its a good idea for people quitting jobs for other businesses also.

YMMV but my goals are.
1. Make at least double the J.O.B income.
2. Live only on business income for at least several months, preferably 6 months to a year if I can wait that long and bank the J.O.B income for investing into the business.
3. Have a year of basic living expenses in an emergency fund.
4. Business has been established and going strong with high income at least a year.

When the time comes I want to guarantee the highest rate of success that I can. I NEVER plan on working a J.O.B again at that point.

Different folks different strokes but the main point is make sure all the numbers work and do what you can to help your success. Keep in mind my perspective is one of mostly a one income household with several dependents, another decent income coming in can help a LOT to push you in the direction of a full time business.

 

[biophase]

Yeah, that's why I want to give it a year. We will be long out of the forest by then. I am just struggling with the mental aspect of not really needing my employer at this point. Its an unusual feeling......since I have ALWAYS depended on that paycheck to make ends meet.

If you give it a year, you can save the whole amount. Think of what that means to your nest egg. Also, your job should become less stressful because you won't give a shit if you get fired. You won't take shit from anyone and I bet you also become a better employee because of it.

 

[biggeemac]

Congratulations!

Very exciting time indeed.

IMO, the answer to your question depends on the longevity of your venture. Is it something that is trendy? Or can fade? Or can you see yourself in business for a decade?

Heh, well, fortunately I don't have to sell anything. My venture is a bit different in that the state of Oregon has a major shortage of folks providing the service that I provide (and the level of service that I provide), and the barrier to entry is not exactly small. There will NEVER be a shortage as long as humans exist. The only thing that, quite honestly, could derail me is either some critical mistake that I make, or some MAJOR unprecedented event kicks off (think armageddon). Not being arrogant, but we are in pretty good shape.

I guess just seeing those funds come in is really messing with me mentally. It yanks you out of desperation when you realize that your employer could terminate you and you would still be laughing all the way to the bank....lol. I just really want to stay the course and get a year under my belt, but my motivation to do a good job is running away fast. I have to get myself back in line.....at least for the year. I can't say how long I can see myself doing this, but with the amount of coin the state is willing to drop for the service, it won't take long to build up a pretty fat wallet. Once we are at capacity, in a few months or less, we would be doing 250k a year or better, after expenses. We can scale provided I can find decent and passionate employees that adhere to the level of service that we expect.

For what its worth, I do like my job and my co-workers. I do enjoy the socializing, but I checked out long ago.

 

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[biggeemac]

If you give it a year, you can save the whole amount. Think of what that means to your nest egg. Also, your job should become less stressful because you won't give a shit if you get fired. You won't take shit from anyone and I bet you also become a better employee because of it.

Yes, the plan is to not spend much/any of the funds coming from the business and continue to live off my day job pay. The business money will be used to expand. Another reason I want to stay with my employer for the year.

Also, I now employ most of my 5 kids. I can't even begin to tell you guys how this feels.

 

[Vigilante]

Milk it as long as possible until they drag you out of there. Now it's a game.

 

[Millenial_Kid5K1]

It's hard to argue with the financials of keeping a day job. My question would be: from a fastlane perspective, if your business is so passive that it wouldn't benefit from having an extra 40 hours a week of your time, would it make sense to start a second business? I'm sure the answer varies for different people.

 

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[Waspy]

Milk it as long as possible until they drag you out of there. Now it's a game.

Came here to post this. It's a dick move, but they are losing you either way.

 

[G-Man]

Came here to post this. It's a dick move, but they are losing you either way.

It's only a dick move if you check out and don't do your job. Sounds like @biggeemac is a better employee than most even at half speed. Otherwise he wouldn't have been able to stay under the radar.

Most jobs the expectations are so low that it's depressing and employee culture crushes your spirit. I would imagine that flipped around to the stage OP is at, that super low bar makes it a game, per @Vigilante

 

[Vigilante]

It's only a dick move if you check out and don't do your job. Sounds like @biggeemac is a better employee than most even at half speed. Otherwise he wouldn't have been able to stay under the radar.

Most jobs the expectations are so low that it's depressing and employee culture crushes your spirit. I would imagine that flipped around to the stage OP is at, that super low bar makes it a game, per @Vigilante

Do you think the company gives a SHIT about you? That they wouldn't slit your throat in a second to meet a financial objective?

G-Man read it right. I am not saying don't do what you are being paid to do. I am saying you walk in with a smile in your step... an unexplainable peace knowing you have already crossed your "freedom date" I have written about elsewhere. You're in a position of F*ck YOU.

And that makes every day and the amount of shit an average employee is required to eat to keep their paycheck worthwhile. It's now a game. It's now in YOUR control. You now own your destiny. You know set the date. You know have control.

A DICK MOVE is how companies treat employees like dispensable assets. A DICK MOVE is the slavery of the 9-5 with no light at the end of the tunnel. A DICK MOVE is performance reviews, 2% raises, and threatened job security.

Check mate for the "employee" that crosses over the freedom date. We are cheering for you all.

 

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[biggeemac]

Do you think the company gives a SHIT about you? That they wouldn't slit your throat in a second to meet a financial objective?

G-Man read it right. I am not saying don't do what you are being paid to do. I am saying you walk in with a smile in your step... an unexplainable peace knowing you have already crossed your "freedom date" I have written about elsewhere. You're in a position of F*ck YOU.

And that makes every day and the amount of shit an average employee is required to eat to keep their paycheck worthwhile. It's now a game. It's now in YOUR control. You now own your destiny. You know set the date. You know have control.

A DICK MOVE is how companies treat employees like dispensable assets. A DICK MOVE is the slavery of the 9-5 with no light at the end of the tunnel. A DICK MOVE is performance reviews, 2% raises, and threatened job security.

Check mate for the "employee" that crosses over the freedom date. We are cheering for you all.

ABSOLUTELY. I am loved by my co-workers and praised by the higher powers.....BUT....I've been here before, and then the unthinkable happened. I won't let that happen again. See my post from almost 4 years ago.

Fired

 

[G-Man]

I won't let that happen again.

I just read the other thread. Super cool you've been consistently doing things to make sure you're never in that position again.... and it looks like you gtfo of DFW, which is one of my goals as well. Rep +

 

[c_morris]

I have a wife and three kids I am supporting and I am the breadwinner while we get the business off the ground.

See my post from almost 4 years ago.

Fired

Also, I now employ most of my 5 kids. I can't even begin to tell you guys how this feels.

Man you've been busy the past 4 years. From fired to FT employment, building a business that could sustain you if you needed it to and on top of all that, you added 2 more children to your family?

rep transferred!

 

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[biggeemac]

Man you've been busy the past 4 years. From fired to FT employment, building a business that could sustain you if you needed it to and on top of all that, you added 2 more children to your family?

rep transferred!

Lol, no. I've always had the 5 kids, but the two older ones were not living at home. They are living with us now. We are doing this as a team. Feels good.

 

[c_morris]

Lol, no. I've always had the 5 kids, but the two older ones were not living at home. They are living with us now. We are doing this as a team. Feels good.

LOL. Rep is still well deserved. You're doing exactly everything that I am working towards, except that if I were in your shoes, I may have quit by now. But that's just me.

 

[biggeemac]

LOL. Rep is still well deserved. You're doing exactly everything that I am working towards, except that if I were in your shoes, I may have quit by now. But that's just me.

Lol, yep....which is why I said "it isn't time yet".

 

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[Action Mike]

Read the fired post and that is awesome you are at a place now you can support yourself with the business that feels great.

I work in IT also and it is a very high stress jobs in a lot of cases. Employers, especially big companies don't care about you or your future. I have seen several people get fired to cover someone's a$$ or because they spoke up and were honest about a issue with the systems and the wrong POS got irritated and fired them. One guy actually did what he was told by the director and FedEx'ed sensitive data and he fired him when other managers in the company complained that it was a breech of safety protocol. J.O.B security is a myth.

 

[amp0193]

Anyone ever deal with this? How to I convince myself to stay on course until it is the "right time" ?

Congrats man. I remember a DFW meetup a few years ago where you seemed a little aimless and unsure of your path (as was I...). I'm glad you nailed down something that worked out!

My personal goal before I quit was double my day job income. That gives you enough to pay the bills, and enough to re-invest and grow. It'll get to a point where you can't stand being there anymore, but just stick it out as long as possible.



When being at your job is costing you more $$$ than not being at your job..... it's time to go.

 

[Millenial_Kid5K1]

When being at your job is costing you more $$$ than not being at your job..... it's time to go.

I love your way of expressing this. I've been struggling with a stressful job, and this puts into words exactly what I've been feeling for a while.

 

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[Nik Krohn]

You mention that your business offers some sort of service. Is it software or still time for dollars?

Congrats on the success. I am in a similar position but holding out to build some great cash reserves for future business.

 

[luniac]

Do you think the company gives a SHIT about you? That they wouldn't slit your throat in a second to meet a financial objective?

G-Man read it right. I am not saying don't do what you are being paid to do. I am saying you walk in with a smile in your step... an unexplainable peace knowing you have already crossed your "freedom date" I have written about elsewhere. You're in a position of F*ck YOU.

And that makes every day and the amount of shit an average employee is required to eat to keep their paycheck worthwhile. It's now a game. It's now in YOUR control. You now own your destiny. You know set the date. You know have control.

A DICK MOVE is how companies treat employees like dispensable assets. A DICK MOVE is the slavery of the 9-5 with no light at the end of the tunnel. A DICK MOVE is performance reviews, 2% raises, and threatened job security.

Check mate for the "employee" that crosses over the freedom date. We are cheering for you all.

god that was so beautiful i would have teared up if not for this dry office air im in right now...

 

[c_morris]

A DICK MOVE is performance reviews, 2% raises, and threatened job security.

Wow! You just described my current week! Have you been watching me?

I did get a bonus with it is well, but that just sets the hook deeper.

Sent from my SM-G930W8 using Tapatalk

 

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[Vigilante]

Wow! You just described my current week! Have you been watching me?

I did get a bonus with it is well, but that just sets the hook deeper.

Sent from my SM-G930W8 using Tapatalk

I had a colleague one time at Wal-Mart sit through a performance review. Her business unit was up several hundred percentage points over the previous year. Her executive team told her that the business was up despite her, not because of her.

Welcome to corporate America, where kissing a$$ (or worse) gets you promoted. I don't miss it, and frankly could never fit back into a company at this point.

 

[G-Man]

I had a colleague one time at Wal-Mart sit through a performance review. Her business unit was up several hundred percentage points over the previous year. Her executive team told her that the business was up despite her, not because of her.

Welcome to corporate America, where kissing a$$ (or worse) gets you promoted. I don't miss it, and frankly could never fit back into a company at this point.

I didn't know you were a Wal-mart guy, Vig. Your cynicism of corporate America makes a bunch more sense. My only experience of Wal-mart is dealing with their buyers, but if it's at all representative, Bentonville must be a douchebag parade. It seems they actively discourage any out of the box or creative thinking from their employees, which would no doubt create an environment where those that rise to the top are whoever plays bureaucratic politics the best.