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MJ's 4 Conditions: The Definitive Guide on WHEN to Quit Your Job...

MJ DeMarco

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This also can be said for dropping out of University.

Quitting a job, or dropping out of college, is often is a MISTAKE.

My basic recommendation?

Don’t quit your job (or drop college) unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
 
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MJ DeMarco

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Bump, I pulled this out of an older thread in which it was buried. This topic deserves its own thread and highlight since I see (and read) a lot of people making mistakes in quitting their job, for no other reason than, "I loved your book."

I hate to be the impetus for a poor, emotional decision.
 

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This often is a MISTAKE.

My basic recommendation?

Don’t quit your job unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
I think the same applies for school (at least in countries where it doesn't force you into debt).
I see so many young wannabe entrepreneurs talking about quitting school. I am going to finish my a levels because 1. It's free in Germany and 2. I don't have anything to show for just yet.
 

Peter Abrahamian

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This also can be said for dropping out of University.

Quitting a job, or dropping out of college, is often is a MISTAKE.

My basic recommendation?

Don’t quit your job (or drop college) unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
I 100% agree with you. Students can make college worthwhile by studying something in demand and that would also give you a specialized skill. For example, I decided to switch from Economics to Computer Science. I will have a better job with a great work/life balance + a skill that can help me in my FASTLANE pursuits. But if you insist on not going into STEM-related fields and instead want to study liberal art degrees like "Gender Studies," then maybe you have a point in not going to college.
 
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b.stod

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This also can be said for dropping out of University.

Quitting a job, or dropping out of college, is often is a MISTAKE.

My basic recommendation?

Don’t quit your job (or drop college) unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
Good stuff
 

Mkandre

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I think the same applies for school (at least in countries where it doesn't force you into debt).
I see so many young wannabe entrepreneurs talking about quitting school. I am going to finish my a levels because 1. It's free in Germany and 2. I don't have anything to show for just yet.
Hi Henry, how are you?

I'm also studying at a German university and, although I had to choose a private one in order to pursue my bachelor's degree 100% in English, I still pay about €100 euros per month, which is just a symbolic value for me, basically free.
 
Last edited:

Mkandre

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I think the same applies for school (at least in countries where it doesn't force you into debt).
I see so many young wannabe entrepreneurs talking about quitting school. I am going to finish my a levels because 1. It's free in Germany and 2. I don't have anything to show for just yet.
By the way, I advise my friends to study in countries where it's free or very cheap, like Brazil, Portugal, Spain, Germany, and the Netherlands. You can even study fully in English with a very cheap tuition fee (90-350 euros/month) at a German distance-learning university of applied sciences. They all tend to be more or less the same, are state accredited, and, thus, are of very good quality too. In fact, that's exactly what I'm doing at the moment.
 
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Last edited:

Mikeyyy

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This also can be said for dropping out of University.

Quitting a job, or dropping out of college, is often is a MISTAKE.

My basic recommendation?

Don’t quit your job (or drop college) unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
I use my job as something to pay my bills and rent. Any surplus cash I get it either used to invest in my business or myself.
 

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Hello, I am a self-employed entrepreneur, I combine my profit with my activity as a self-employed entrepreneur that I invest in my business to start its activity and also relaunch its activity. It is necessary to be strategic before leaving your job or studies.
 
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Stepan

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Thank you, MJ, appreciate it :) Was just thinking about dropping out, but didn't know what to do after, going to job that will consume even more time? But now you gave us all the answer, thanks again :smile2:
 

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Je fais partie les gens qui ont abandonné leurs études après la lecture de votre premier livre qui m'a tant inspiré. Je me suis lancé dans un business qui ne respectent pas les cinq commandement de l'auto-route (CENTS ). Cependant à partir de maintenant je vais changer de direction et m'engager dans un processus de production de la valeur utiles pour les autres. Merci beaucoup MJ pour ce précieux conseils
 
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DavidePaco00

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This also can be said for dropping out of University.

Quitting a job, or dropping out of college, is often is a MISTAKE.

My basic recommendation?

Don’t quit your job (or drop college) unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
Thanks, very claryfing!
 

Consolation

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I quit my job and leave my hometown after reading TMF . I left without saying goodbye. But, I didn't quit for the purpose of starting a business.

I needed rest and self-reflection. I didn't managed to do that much after my breakup and the death of someone I consider as my father. Of which happened at the same time.

I use that time to read and think. A lot. The hardest thing and the biggest impact I had was transitioning from an employee to employer mindset.
 

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I quit my job and leave my hometown after reading TMF . I left without saying goodbye. But, I didn't quit for the purpose of starting a business.

I needed rest and self-reflection. I didn't managed to do that much after my breakup and the death of someone I consider as my father. Of which happened at the same time.

I use that time to read and think. A lot. The hardest thing and the biggest impact I had was transitioning from an employee to employer mindset

How is it doing so far?
 
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Consolation

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How is it doing so far?
Sadly, I'm still broke. I'm now trying to get clients for live streaming service. But, before anyone tries to justify that I should hold my job, here's a story.

I didn't go back to the full-time workforce after quitting my job. So I cleaned shit, climbed roofs, carried metal scraps, fixed computers, just to get the essentials taken care of. My first business that I really really was able to get off the ground was in the self-publishing industry. I helped a local aspiring author to published her first novel. Basically, I'm her digital marketer.

I got my first taste of passive income from Google Play Books, although it wasn't much.
I went viral on Facebook for the excerpt from the novel.
I was contacted for novel-to-fim adaptation.
Photoshop was hard. Now it's easy.
Web design was hard. Now it's not.
SEO? SMM? Ask me what's that before quitting my job. Or even during college (I took Computer Hardware and Networking). I won't have any idea.

Moving from my hometown and quitting my job was the best decision I ever made. Provided you have your FTE.
 

EmotionEngine

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I'm debating quitting so hard but I also remember the section on when to quit in Rat Race. I've been stacking up cash for months. I know MJ had $900, so I'm cheating a bit and creating a massive buffer. I have over 30x that.

When do I actually quit? lol Seems like I want to save more and more and make the pile bigger and bigger. It's almost becoming an addiction itself.
 

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Sadly, I'm still broke. I'm now trying to get clients for live streaming service. But, before anyone tries to justify that I should hold my job, here's a story.

I didn't go back to the full-time workforce after quitting my job. So I cleaned shit, climbed roofs, carried metal scraps, fixed computers, just to get the essentials taken care of. My first business that I really really was able to get off the ground was in the self-publishing industry. I helped a local aspiring author to published her first novel. Basically, I'm her digital marketer.

I got my first taste of passive income from Google Play Books, although it wasn't much.
I went viral on Facebook for the excerpt from the novel.
I was contacted for novel-to-fim adaptation.
Photoshop was hard. Now it's easy.
Web design was hard. Now it's not.
SEO? SMM? Ask me what's that before quitting my job. Or even during college (I took Computer Hardware and Networking). I won't have any idea.

Moving from my hometown and quitting my job was the best decision I ever made. Provided you have your FTE.

How are doing psychologically?
 
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Consolation

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I mean, how do You feel ?
I feel good and grateful. Because I have the opportunity to do the work that's necessary for my success. Wether I like the work or not..

It will be a different story if I was born in a communist country. Or wherever that private ownership of business, or even your life is forbidden.
 

m999

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Its easy to fall into this trap when you're new. Pairing excitement to quit your job along with expectations that your plan will go perfectly once you start. The reality is things will come up which will increase the investment in time and money before you see profit. And truthfully thats fine... the struggle and recalibration is part of the process. But why raise the stakes and put your mortgage/family/relationships on the line as you do it?
 
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I'm debating quitting so hard but I also remember the section on when to quit in Rat Race. I've been stacking up cash for months. I know MJ had $900, so I'm cheating a bit and creating a massive buffer. I have over 30x that.

When do I actually quit? lol Seems like I want to save more and more and make the pile bigger and bigger. It's almost becoming an addiction itself.
I understand you

It does become addicting to constantly see money flow into the savings account.
How did it turn out for you, now one year later?
 

EmotionEngine

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I understand you

It does become addicting to constantly see money flow into the savings account.
How did it turn out for you, now one year later?
Hey! Thanks for following up! :)

I still have a nice cash pile saved up and have been paying down debts as well. I'm bringing down my student loan and car loan which are my only debts. I've just survived 2 layoffs in under 8 months at my job. The most recent was mere days ago back in June. I have a feeling strike 3 will be my out, literally. Then I can focus on executing my start up plans.

All this time I have just been working on my skills and making small projects. I'm going to show one of my projects on this forum soon. It's not execution to start my business but it's relevant to this forum. I'll try to remember tagging you in that post.

Finally, I can't wait to begin executing my plans which I've labored over in my Trello board for over a year. My FTE burns inside me and I'll let it explode when the time comes. I will post a thread on that when the time comes as well.
 

DreamLund

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Hey! Thanks for following up! :)

I still have a nice cash pile saved up and have been paying down debts as well. I'm bringing down my student loan and car loan which are my only debts. I've just survived 2 layoffs in under 8 months at my job. The most recent back in June. I have a feeling strike 3 will be my out, literally. Then I can focus on executing my start up plans.

All this time I have just been working on my skills and making small projects. I'm going to show one of my projects on this forum soon. It's not execution to start my business but it's relevant to this forum. I'll try to remember tagging you in that post.

Finally, I can't wait to begin executing my plans which I've labored over in my Trello board for over a year. My FTE burns inside me and I'll let it explode when the time comes. I will post a thread on that when the time comes as well.
I love it!
Yes for sure, tag me when theres really nice progress to show off:)
 
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Chrisrod2597

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This also can be said for dropping out of University.

Quitting a job, or dropping out of college, is often is a MISTAKE.

My basic recommendation?

Don’t quit your job (or drop college) unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
Thank you MJ
 

jsc

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This is a good point, but I struggle with it when you have the savings runway and a job/kids/etc that keep you busy a lot of the time and pays the bills. With everything from TMF on not trading time for money because it isn't a CENTS business, and not trading weekends for weekdays, couldn't it be a good idea to quit a job to focus on compounding knowledge and building a CENTS business instead of a more diverted life?
 

MJ DeMarco

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couldn't it be a good idea to quit a job to focus on compounding knowledge and building a CENTS business instead of a more diverted life?

Does "compounding knowledge" put food on the table?

Bottomline, it's nearly impossible to build a CENTS business when you don't have a roof over your head and the kids are starving.

You want to build a strong building, you need a strong foundation. If the foundation isn't there, you will be facing worse odds.
 
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Shiru wainaina

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As I wrote in The Great Rat Race Escape ...

A lot of people here ask when to quit their job.

I also get a lot of people (sadly) that read my book and they write me, saying their first "action" is to quit their job.

They do this haphazardly without any business skills, no business idea, and no revenue.

This also can be said for dropping out of University.

Quitting a job, or dropping out of college, is often is a MISTAKE.

My basic recommendation?

Don’t quit your job (or drop college) unless you’ve got the following four guidelines met.
  1. Existing sales with adequate profit margins. Are you repeatedly selling? Is there a nominal enough of a profit that can pay your bills, much less, change your life?
  2. Do you have at least a six-month runway (cash flow) to pay your bills while adopting a frugal lifestyle? This can be reduced to three months pending the answer to #3 and scale.
  3. Scale and growth potential. Can revenue 10X within the next twelve months? Is your job preventing you from 10X'n your revenues and profit? What systems need to be in place to go 10X?
  4. Evidence of a productocracy. Are people recommending your business/service/product? Are people reordering? Have competitors entered the market and taken market share? Has your offer demonstrated longevity?
Obviously the above is just my generalized advice. One size does not fit all. Some can quit on a wing-and-a-prayer and succeed.

Most cannot.

I hate to be the source of someone's impetuous emotional choice...

Remember this...

QUITTING YOUR JOB is an event (99% masses thinking)
STARTING A PROFITABLE BUSINESS is a process (1% Unscripted thinking).
Thanks for the advice.
 

Syndrome

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2
I think the same applies for school (at least in countries where it doesn't force you into debt).
I see so many young wannabe entrepreneurs talking about quitting school. I am going to finish my a levels because 1. It's free in Germany and 2. I don't have anything to show for just yet.
I am only 1 semester (part time) away from completing my Masters in Criminal Justice. Something I took a leave of absence for back in 2016.

I was at a crossroads but the university got back into contact saying I could keep all my previous credits and not have to start over.

Not sure what a MS in Criminal Justice would yield.

At this point, its more bugging to “not” finish something I already started. Sunk cost fallacy type of thinking i guess.
 

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