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Quitting My Job - What Now?

gunhol

New Contributor
May 6, 2019
12
3
17
I know that many of you guys have been through what I am going through, FTE and all. And I would love to get some feedback on this. I am ready to dive into entrepreneurship again and I would hope to be on the other end of this some day and give advice to others.

I have created a "me too" business in the past with mediocre results, but it was one of the most fun things I have ever done. I quit after a while because the business was not anything special and was getting the results it deserved. Good months were around $1500-2000 in sales.

I have now decided to quit my job as a financial broker to focus on building something that will eventually sustain a lifestyle of freedom, mostly geographical freedom. But I dont want to build another "me too" business, so I will take some time to do my research and build something that offers value. But I will be sure to execute when time is due.
The plan is to build a business around web site design as I have already done this for paying customers in the past to fund my expenses while I work on an eCommerce project.

Please comment on my progress plan:

1. Find clients for web site design (20 cold emails per day)
2. Get enough work to sustain 2 months of living
3. Quit my job
4. Really dive deep into prospecting to get enough work to sustain some months
5. Start building a business on an idea that I believe in
6. Gradually transfer from web site design to ecommerce

Or, would you rather take on a day job that pays expenses and start working on ecommerce in the spare time straight away?
 

NovaAria

Contributor
Jul 18, 2018
36
71
112
Any business can give you geographical freedom once it's doing well enough to warrant hiring a manager.
Hell, if you're business cant run without you, are you sure you're not actually working a JOB?

Regardless, I applaud your efforts and I wish you all the luck of the world. Though with the right mindset, you wont even need it.
 

The Racing Driver

Bronze Contributor
Speedway Pass
I've Read UNSCRIPTED
Apr 20, 2015
117
203
165
Hong Kong
Please comment on my progress plan:

1. Find clients for web site design (20 cold emails per day)
2. Get enough work to sustain 2 months of living
3. Quit my job
4. Really dive deep into prospecting to get enough work to sustain some months
5. Start building a business on an idea that I believe in
6. Gradually transfer from web site design to ecommerce

Or, would you rather take on a day job that pays expenses and start working on ecommerce in the spare time straight away?
2 months of living expenses seems a bit little to me. Having an income just to look after yourself, can give you a lot of peace of mind and allow you to worry less about making ends meet.

What's your job like? If it provides significant capital. You could invest some of that into your ecommerce idea.

For me personally, I'm working hard on building an e-commerce business. I just got a part-time job that's not too mentally taxing. It pays very little, but I really needed to make more money and didn't want to get a full-time career job that takes up most of my day.
 

astr0

Grinding
FASTLANE INSIDER
Speedway Pass
Dec 3, 2017
277
355
187
31
Lviv, Ukraine
Financial broker, Web Design and E-Commerce are not closely related to each other.

If your final destination is e-commerce why spending time on web design?

Counting all the time required for prospecting it seems unlikely to generate more income or save you some time short term than your current job.
 

gunhol

New Contributor
May 6, 2019
12
3
17
2 months of living expenses seems a bit little to me. Having an income just to look after yourself, can give you a lot of peace of mind and allow you to worry less about making ends meet.

What's your job like? If it provides significant capital. You could invest some of that into your ecommerce idea.

For me personally, I'm working hard on building an e-commerce business. I just got a part-time job that's not too mentally taxing. It pays very little, but I really needed to make more money and didn't want to get a full-time career job that takes up most of my day.
True, but the idea is to generate more work as soon as I quit my job. The best option would be to stay in my job and build the ecommerce business on the side, but my current job is too mentally straining where I need to put in alot of hours and mental energy.
Maybe I should get a job doing something that takes minimum brain power to do and sustains my expenses.


Sent from my iPhone using Tapatalk
 

gunhol

New Contributor
May 6, 2019
12
3
17
Financial broker, Web Design and E-Commerce are not closely related to each other.

If your final destination is e-commerce why spending time on web design?

Counting all the time required for prospecting it seems unlikely to generate more income or save you some time short term than your current job.
Good point, but I would say that web design and ecommerce is very closely related, as the main focus is to convert visitors. Why is it not?


Sent from my iPhone using Tapatalk
 

astr0

Grinding
FASTLANE INSIDER
Speedway Pass
Dec 3, 2017
277
355
187
31
Lviv, Ukraine
Yeah, web design is part of e-commerce funnel.

But, e-commerce is much more complex with all the marketing, conversion tricks, mailing lists, product selection, and other stuff.

My point was that you may not need a lot of technical and direct sales skills that are crucial for web design to run an e-commerce business.
 

babyballer

Contributor
Jul 16, 2018
48
45
112
Please comment on my progress plan:

1. Find clients for web site design (20 cold emails per day)
2. Get enough work to sustain 2 months of living
3. Quit my job
4. Really dive deep into prospecting to get enough work to sustain some months
5. Start building a business on an idea that I believe in
6. Gradually transfer from web site design to ecommerce

Or, would you rather take on a day job that pays expenses and start working on ecommerce in the spare time straight away?
Website design is too competitive and saturated. I would rather take a day job.
 

gunhol

New Contributor
May 6, 2019
12
3
17
what value do you provide?
what is the purpose of this business / freelance endeavor?

sounds like no plan and money chasing ....... you are smarter than this!
The web design business is pure money chasing for paying my way through entrepreneurship. Not unlike what MJ did in the book while he was getting his business off the ground. I have some experience in this field, that's why I had the idea.

But a normal day job might be better.
 

The Racing Driver

Bronze Contributor
Speedway Pass
I've Read UNSCRIPTED
Apr 20, 2015
117
203
165
Hong Kong
The web design business is pure money chasing for paying my way through entrepreneurship. Not unlike what MJ did in the book while he was getting his business off the ground. I have some experience in this field, that's why I had the idea.

But a normal day job might be better.
Exactly. An employer has already expressed a need for your services, so you're not money-chasing or starting a me-too business in a saturated marketplace.

A job could be better for you and you can always leave when it starts holding you back from your entrepreneurial progress.
 

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