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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.
     
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  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.
     
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  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 Bronze 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.
     
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  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.
     
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  8. Aaron T
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    Aaron T Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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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.
     
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  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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    AndrewNC Limitless Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass LEGENDARY CONTRIBUTOR

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    IMG_8104.JPG
    Decision completed.
     
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  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).
     
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  12. Aaron T
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    Aaron T Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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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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    mom Contributor

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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.
     
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