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Progress Thread Quitting my Investment Banking Job and Moving West

Discussion in 'Progress/Execution Threads' started by GuitarManDan, Sep 11, 2017.

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  1. GuitarManDan
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    GuitarManDan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Hey Guys,

    I've been actively interested and involved in an industry for the past 5-6 years and have gained a lot of reference experience and inside knowledge. Although I currently still hold my job at an investment bank in NYC, I've been working on growing my new business for the past 2 months. As my lease in the apartment is up in December, my plan is to quit the job in November and to move west out to San Diego.

    This will be my progress thread to document my journey and hopefully help others on the forum gain insights into my successes/setbacks. After work every day and on the weekends I've been spending my free time learning a tremendous amount.

    Over the course of a month, I personally reached out to 100 guys on Facebook groups I'm a part of who expressed some problem/challenge they were running into and helped them for free to not only identify common pain points, but to also figure out the best way to communicate how I can coach guys in the future to solve similar problems.

    Out of the guys that I've helped, I chose a few to be students that I'd personally coach over the next month (one weekly call and advice via facebook messaging whenever they run into a challenge).

    My ultimate goal is to identify the best way to fix the common pain points I've identified and record a video series and then work to scale that up.

    AndrewNC has been a huge help to me, as in the beginning after I found the forum, I kept jumping from idea to idea and couldn't commit to one. I've already made a few sales and can go into more details around some challenges / learning experiences I faced with that.

    I ran my first Facebook Ad campaign this weekend and am looking to have it lead to free 30 minute coaching calls. On these calls, I will work on my sales skills on converting free calls into paying customers.
     
  2. GuitarManDan
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    GuitarManDan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    It's getting real, guys! Just told my roommates tonight (lived with them for 4 years, they were friends from college and we all got investment banking jobs in NYC) that I'm moving out once the lease is up in December of this year.

    I have a few months, but am going to start doing research for apartments in San Diego to see realistic expectations of how much I'll pay.

    Will keep this post updated as I progress more with my journey.
     
  3. DustinH
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    DustinH Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    If you need help finding a place in SD then call Daniel Beer. He's has the best real estate team in SD County and might be able to help you find a place.


    Sent from my iPhone using Tapatalk
     
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  4. mom
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    mom Contributor

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    ok..so why are you leaving investment banking?

    Can i ask you a question about PUBCO's and taking companies public?

    Good luck
     
  5. GuitarManDan
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    GuitarManDan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I ended up moving jobs over a year ago and the culture in this office is extremely toxic. The best story I can use to drive home that point is that I was given a very hard time for taking off time when I had a death in the family last year.

    Everyone in my office is miserable but no one is taking action.

    It made me reevaluate what I wanted and the more research I did into entrepreneurship, the more I realized it wasn't as big of a risk as common wisdom made it out to be. I'm in a position to take a calculated risk (26 years old, no wife or children).

    I'm very optimistic for the future and am excited to work hard and actually give value instead of staring at Microsoft Excel all day.

    To answer your other questions, feel free to send me a private message and we can go into further details!

    Thanks
     
  6. Aaron T
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    Aaron T Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    San Diego is a beautiful city @GuitarManDan ! Congrats on taking the bold leap and good luck!

    I am a few hours north of you having transplanted, sort of, from the East Coast myself. Can't say I like California all that much yet, but I definitely enjoy SD. Good choice.
     
  7. GuitarManDan
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    GuitarManDan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Thanks man! My lease is up here Jan 1st so I've already started looking at apartments.

    Do you have any specific areas you'd recommend? Preferably looking for a one bedroom in an area that's reasonably safe. Not sure how much cheaper the Phoenix/Scottsdale area is, but I'm considering that as well.
     
  8. Aaron T
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    Well of all the places I have lived outside of Florida, I loved Overland Park, KS (suburb of Kansas City) the best. It isn't bad here in Pismo Beach, CA. San Diego is one of my favorite cities though. Cali prices for property and shitty state politics around a lot of things makes it pricier for no real payback.

    Pismo Beach and San Luis Obispo are both ridiculously safe though. You will pay for it. It is not cheap. Not even for a 1 Bedroom.

    I have always wanted to try Arizona but never done it. I will though at some point or at least buy some property there. I know for a fact it is considerably cheaper than SD.
     
  9. G-Man
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    G-Man Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    sub'ed. I think you'll be amazed at just how different every aspect of your life is when you get out of a toxic office culture.

    Also, to piggyback @Aaron T have you considered other cities? I don't know what your financial situation is, but there's plenty of places where your dollar will go farther, and San Diego might not be as enjoyable if under financial stress.

    Wife and I are looking to move early next year and checking out some cities. Short list so far is:
    Austin, TX
    Oklahoma City, OK
    Santa Fe, NM
    Boulder, CO
    Couer D'Alene, ID
     
  10. AndrewNC
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    IMG_8104.JPG
    Decision completed.
     
  11. GuitarManDan
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    GuitarManDan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    @Aaron T - Thanks for the recommendations! I'm weighing my options at the moment, but either Phoenix/Scottsdale or San Diego would be fantastic from the research I've done.

    @G-Man - So far everything seems affordable being used to NYC prices, but to answer your question I was fortunate to have saved up a decent amount of money working at NYC investment banks over the past 4 years (already calculated that even if I don't make a profit, I can comfortably live for a few years, especially if it's an area where rent is noticeably less).

    I'm just at the point where I'd rather fall on my face 100 times on business ventures than keep doing what I've been doing in the slowlane banking jobs. I know that I'll work my ass off and will learn from any challenges/mistakes that occur while I'm learning the process of growing my business.

    I'm extremely excited to be out of this toxic environment. I've been leaving at 5 pm on the dot every day for the last few months to get home and work on the business and I can see management getting noticeably frustrated.

    I'll write a follow-up post tonight about the experience I had when I made my first few sales. I was absolutely convinced working to solve Pain Point #1 would be how I gained some momentum so I sold a PDF guide to help address that. I had to pivot and re-focus on Pain Points #2 and #3 instead as the 100 guys I messaged were much more interested in fixing those.

    On another quick update, one student I've been coaching is making incredible progress over the past 3 weeks. I'm starting to see that positive feedback loop and it feels amazing to actually be providing value (offered to help him for free as he's a business owner and said he can share some feedback about my strategy and how to market/go for the sales with other students).
     
  12. Aaron T
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    This is it! That is the decision. That attitude alone will be all it takes to put the effort into getting where ever it is you are trying to go!
     
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  13. mom
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    so can we ask what business you are going into?
     
  14. GuitarManDan
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    GuitarManDan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'd prefer to keep it private in the beginning. For now I will disclose that it involves personalized coaching on a subject that I've studied extensively for the past 5-6 years.

    I'm currently working on creating my first product of a video course that I will aim to sell at around $70, possibly more as I test it out and see the feedback I receive. I'm also still working with a few students I offered to help for free in order to track what works / didn't work to solve their common pain points that other individuals would need advice on.
     
  15. GuitarManDan
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    Hey guys,

    To provide a quick update, made amazing progress working all weekend creating videos for my first paid product im looking to create.

    I can be a perfectionist, so I kept trying to focus on not perfecting the videos, but instead, just creating the material. I want to take the actions to the best of my ability and then assess feedback from customers and adjust afterwards.

    As I'm creating the product, I'm starting to identify my USP and how I can differentiate myself from the bigger players in the industry.

    One student I've been helping for free has made amazing progress and is so thankful he's going to make a video testimonial for me that I'll throw up on my homepage!
     
  16. MattR82
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    MattR82 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Nice! Congrats on the jump :)

    I'm doing something similar actually. Hopefully you swing by the how to use forums and Facebook groups thread as well.
     
  17. MattR82
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    MattR82 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Nice. I agree with this. It's my plan also. I don't want to do a half assed job on the videos, but the main thing is the content.

    I've seen someone spend soooo much time on his video (what got me interested in this process to begin with), like months, with reshooting etc, that now looks unnecessary. Worse than that, it looks too professional and all of his great personal character that helped make his course cool as shit when I saw it live in person (as a presentation at a coworking space) is goooone.
     
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  18. Aaron T
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    One place I feel like I would be an Action Faker is with video. I have so much good content to put into video. So much I want to share. Yet, for some reason I feel like I would do a horrible job and I would be overly perfectionist at it. I don't like my video presence and even how my voice sounds (funny as I am speaking at the BOLD conference this week, ugh.) I would continually reshoot, try different things, whatever and in the end never get anywhere.

    I commend you and @GuitarManDan for going for it!
     
  19. Iammelissamoore
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    Much kudos to you on your quest, switching things up are often just what the spirit requires to move ahead in all greatness, so I wish you all the best as you move on your new journey.
     
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  20. AndrewNC
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    I already know this is going to be a GOLD thread that will go down in this forum's history. Anybody who is starting up a business will benefit greatly from subscribing to this thread and following Dan's journey.

    As Dan mentioned in his first post, I've been talking to him via Skype following every step of his progress; and out of the hundreds (perhaps thousands) of people I see go through this forum over the years, there are those that you know are going to be successful...and then there are the rest (the action fakers and the ones on the fence). And this business Dan is starting is destined to be a success.

    From going straight from work to his computer working for hours every night, doing it from a standpoint of giving to others (and not just trying to take money), to practicing what he preaches (to a fault) with his coaching...I'm excited to see where this business goes.


    That was me back in 2015 when I started my YouTube channel.

    The voice thing is something you get used to after you watch through 50+ of your videos on YouTube. I hated my voice at first! Now it's just normal and I'm desensitized to the feeling and the self-judgement by now. If this is something you truly want to do, it's worth pushing through any of these things holding you back from it! It definitely sounds you have a lot of great stuff to share from your posts on here!
     
  21. Aaron T
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    Thank you for the kind words of encouragement. I speak publicly often at conference, investor meetings, corporate events, and the like. I think I have finally gotten used to that vocal sound. Then I hear myself on video. I don't get why it is so cringe worthy to me. However, I do plan on giving the video thing a try at some point.


    Back on topic with this thread, what you are saying about the idea, @GuitarManDan and this thread becoming gold has me excited. I can't wait to see this ride! I absolutely love success stories and what all goes into them.
     
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  22. GuitarManDan
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    GuitarManDan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Thanks for the kind words, guys!

    So for this week, I'm holding myself accountable here and making a deadline of Sunday night to finish the entire first draft of my video course. After that, the plan is to send it across to some of the guys I've been helping for free so that I can get some honest feedback from their end and maybe some ideas for video content to add / improvements to the existing videos.

    Next challenge after that will be how to effectively communicate the value of my video course and what differentiates the material from the average stuff you see in the industry I'm involved in.

    In other miscellaneous notes:
    -My Google AdWords campaign didn't go as well as expected but it was an excellent learning experience. The click-through rate was around 1.15% (not sure how great that is relatively) but my landing page wasn't doing an effective job of turning the clicks into email opt ins and coaching calls, so room for improvement.
    -Going to extend the help to my star student that's providing a testimonial. What I'm learning from working with him is invaluable to growing my business.
    -Will also spend some time this week working to get more students to work with.

    Will keep you all posted.
     
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  23. MattR82
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    Nice one man, keep up the grind!

    What's your style going to be for the videos? As it seems your market is people who are professionals, I suppose it is going to be of a more professional nature?

    I'm looking at the different options now. Professional with a green screen etc, casual, and also a less structured conversational style, kind of like a recorded podcast with a topic outline in a way, where I interview/discuss the topic with experts I know. I'm likely going to mix it up between option 2 and 3.

    Good luck finishing the outline. I'm doing the same right now. Trying to find the right balance between giving info/value but not dragging it out and keeping people highly engaged.

    One thing to consider maybe before you go further. I have noticed in the course platform Facebook discussion groups there is talk of demand for an audio only course to accompany the video, so people can do the course in more situations (on the train, bus, at work etc). Has changed how I'm going to put mine together a bit, so I can accommodate that if necessary without there being too much of a difference between the video and audio course. Bit harder for you I imagine as yours would need to use info slides with stats and numbers etc when mine doesn't.
     
  24. GuitarManDan
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    Hey guys,

    Ended up finishing early for the deadline I set of Sunday night for completing the first draft of the video series (first real paid product that I'll be offering). I used a sick day at work on Wednesday to outline and start creating the format of the content and then I spent all night Friday recording the audio.

    I've outlined how I'm going to structure the roughly 3-4 hours of video content I have into different sections (video content was made directly using pain points that students ran into that I've been working with).

    Next up is uploading the video series to Teachable, determining a price point, and then offering it for free or at a huge discount to guys I've already been helping that will provide valuable feedback.
     
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  25. GuitarManDan
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    Hey everyone,

    A few quick updates since I last posted:
    • Completely finished the first draft of my video series (roughly 3 hours of content) and sent it out to a few guys I've been working with for free for feedback
    • Updated my homepage and created a brand new sales page for my video course
    • Ended up pricing it at $95, I'm using teachable to host the course and can't play around with the cents
    • After looking into apartment prices, I decided I'm going to move to Phoenix in late Dec/early Jan. If anyone has any suggestions, that would be more than welcome!
    • Going to resign from the slowlane job in approx 2 weeks at the end of Oct, I decided that today was the last day that I'm going to be wearing a tie for work in my life
    Next steps:
    • Start various marketing campaigns for my paid video course product (been reading Cashvertising and some FLF posts)
    • Sell my current car (2005 car, not reliable for my cross-country trip I'll be taking from NY to AZ) and lease a more reliable one.
    • Start heavily researching apartments and areas to live in the Phoenix/Scottsdale area
    On a side note, had one of the guys I helped out before randomly out of the blue ask "is that $10 offer still on the table?" for the first guide I created a few months back. This brings my grand total of revenue up to $25 so far haha.

    I wanted to over-deliver, so I sent him the video course included with the other $10 product he paid for and offered him personalized coaching over Facebook chat if he had any questions.