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INTRO New Mindset

Robert25

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Hello,

I’ve always had dreams of owning a business since middle school. I always told everyone, studied business as I grew up and told myself that I would pull the trigger when an opportunity presented itself.

Fast forward to age 27. An opportunity presented itself to open a new restaurant in an area that desperately needed one. After years of trying network marketing, outside sales, retail and numerous other jobs and scams, I finally decided to pull the trigger on it.

I knew that it was going to take a lot of work and I would be a slave to the business for the first year at least, but I had plans to scale it and was excited to get going. Before it even had a chance to open, I found myself in the middle of a divorce between the two other people I went into business with. I wound up with a ton of debt on top of my current student loan debt and eventually decided to file bankruptcy. This was the toughest decision of my life and really set me back mentally for awhile.

Fast forward to today and I am now in a position with a company where I make a salary that covers my bills and some. I was just coasting and loving the slow lane life until I read TMF and it completely shattered my mindset.....for the better. I have since read unscripted as well and now I find myself hating my job everyday and I can’t stand it anymore. Thankfully, I am in a position where I could quit my job entirely and be able to afford the bills with money I have saved for about 2 years. However, I am struggling to actually put that 2 week notice in and begin my entrepreneur journey. I think what is making it the hardest is that I just don’t have 1 idea that I feel is good enough to invest time into yet and make a business out of it.

I will be making a decision very soon, but I feel like I am in a better place than before reading both of MJ’s books. Cheers to the future.
 

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BTR

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May 19, 2019
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It's great you got 2 years of living expenses covered. Now decide on that idea by applying CENTS and then quit the job and dive right in. I am in a similar situation but I know precisely what I want to do but so scared to take the leap because the my savings cover roughly 6 months of my family living expenses. I am considering taking a loan which will fund my business and then taking the leap. Or might save a bit more and then quit. As each day goes by without me taking any action it just feels so wrong. Best wishes to you and keep us posted how you proceed.
 

MJ DeMarco

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I have since read unscripted as well and now I find myself hating my job everyday and I can’t stand it anymore.
I'm not sure if I should be happy or sad!

However, I am struggling to actually put that 2 week notice in and begin my entrepreneur journey.
I wouldn't suggest quitting your job. I'd suggest starting something that gives you veritable traction. Then consider quitting the job.

Our first stab at business rarely goes well, and sometimes it can take longer than 2 years. I'd hate for you to quit your job, lose your financial cushion, and not have things work out immediately.

Business is a risk and life has expenses. The job can serve a purpose until you find something that is working with scale potential.

Just my thoughts.

Welcome to the forum.
 

Ernman

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Welcome to the forum Robert25. I'm in complete agreement with the theme of the responses so far - think through what need you want to fill, how to make it a biz and can you start and scale it while still working? Some years ago, I left a good six figure income job to start a company...actually two companies. One is doing fine but I moved to the BOD because my biz partner and I were having issues that were hurting the company. The other failed miserably. I'm back in another six figure job paying bills and saving for my next attempt to escape. Few of us make it out the first time we try.
 
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Robert25

Robert25

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Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 3, 2019
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19
San Diego
I'm not sure if I should be happy or sad!



I wouldn't suggest quitting your job. I'd suggest starting something that gives you veritable traction. Then consider quitting the job.

Our first stab at business rarely goes well, and sometimes it can take longer than 2 years. I'd hate for you to quit your job, lose your financial cushion, and not have things work out immediately.

Business is a risk and life has expenses. The job can serve a purpose until you find something that is working with scale potential.

Just my thoughts.

Welcome to the forum.
Thank you for the advice, MJ.
 
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Robert25

Robert25

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Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 3, 2019
10
12
19
San Diego
Welcome to the forum Robert25. I'm in complete agreement with the theme of the responses so far - think through what need you want to fill, how to make it a biz and can you start and scale it while still working? Some years ago, I left a good six figure income job to start a company...actually two companies. One is doing fine but I moved to the BOD because my biz partner and I were having issues that were hurting the company. The other failed miserably. I'm back in another six figure job paying bills and saving for my next attempt to escape. Few of us make it out the first time we try.
I appreciate the real world example. I know deep inside that I need to stick and out and hate it while building something. I am working 60-70 hours weekly though, so finding something making similar pay while actually working 40 hours a week might be my best option. Then I will have even more time to put towards a business.
 

Vitaly the Winne

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I'm not sure if I should be happy or sad!



I wouldn't suggest quitting your job. I'd suggest starting something that gives you veritable traction. Then consider quitting the job.

Our first stab at business rarely goes well, and sometimes it can take longer than 2 years. I'd hate for you to quit your job, lose your financial cushion, and not have things work out immediately.

Business is a risk and life has expenses. The job can serve a purpose until you find something that is working with scale potential.

Just my thoughts.

Welcome to the forum.
I made the mistake of doing just that after hyping myself up, and ended up in a worse position than I was while I had the job.

I started a phone flipping business after going through a course and applying what I learned, and got 800 value vouchers from my first two deals, covering the cost of the course and the phones I bought. Being a beginner, I made some mistakes that ultimately got me banned from Ebay, the selling platform I was using(MJ talks about having control of the business, and that's one commandment I absolutely self destructed in, with Ebay and PayPal being in control of my revenue.). Things started going downhill from there, had to start driving for rideshare apps in order to just pay bills and put some money on the table, while I bought and sold phones locally. A few more mistakes later, and I'm now the proud owner of a bunch of phones that don't work and have issues, and I'm unable to sell them(completely my fault, I didn't do the research on them and so ended up in this position). The next thing I know I have to get a job in order to survive, as rideshare income isn't dependable, and my phone flipping business income dried up and I'm in a cornee.

Moral of the story is, while you're building a business have a safety net in place, and only when your business income can cover your expenses predictably and without fail, claim your freedom, and live unscripted. Otherwise you take a leap of faith, convince yourself that you have what it takes to build your wings on the way down, and end up with shoulder and knee injuries because you've only had enough time to construct the support on your way down, crashed, and hit the ground
 
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Tourmaline

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I made the mistake of doing just that after hyping myself up, and ended up in a worse position than I was while I had the job.

I started a phone flipping business after going through a course and applying what I learned, and got 800 value vouchers from my first two deals, covering the cost of the course and the phones I bought. Being a beginner, I made some mistakes that ultimately got me banned from Ebay, the selling platform I was using(MJ talks about having control of the business, and that's one commandment I absolutely self destructed in, with Ebay and PayPal being in control of my revenue.). Things started going downhill from there, had to start driving for rideshare apps in order to just pay bills and put some money on the table, while I bought and sold phones locally. A few more mistakes later, and I'm now the proud owner of a bunch of phones that don't work and have issues, and I'm unable to sell them(completely my fault, I didn't do the research on them and so ended up in this position). The next thing I know I have to get a job in order to survive, as rideshare income isn't dependable, and my phone flipping business income dried up and I'm in a cornee.

Moral of the story is, while you're building a business have a safety net in place, and only when your business income can cover your expenses predictably and without fail, claim your freedom, and live unscripted. Otherwise you take a leap of faith, convince yourself that you have what it takes to build your wings on the way down, and end up with shoulder and knee injuries because you've only had enough time to construct the support on your way down, crashed, and hit the ground
Does phone flipped adhere to the commandment of entry?
 

Vitaly the Winne

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Does phone flipped adhere to the commandment of entry?
At the time it did. There weren't many people doing it, and there were a lot of leads esger to sell and buyers. Now it's quite an oversaturated market, with complete beginners who flipped one phone creating courses.

And it's true that, same as me network marketing, any joe schmoe off the street can now flip phones, at the time it wasn't so well known and the people who did it in my area weren't effective at it. I suppose it was more riding the trend before it became mainstream in this case.
 

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