I got laid off in 2016 and all my business plans failed . Quitting your job is going to make it worse if you don't already have something going on
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Free registration at the forum removes this block.Stories of people spontaneously quitting job without a plan and working out perfectly?
Don't know where any of you guys find wives that support this stuff. I am working or learning 80% of the time outside of my job. I don't even take care of myself anymore because I am so consumed with getting out. If I had a girlfriend, she would be long gone years ago. Heolding off on dating because no girl would be interested in my sh*t situation right now.
Don't know where any of you guys find wives that support this stuff. I am working or learning 80% of the time outside of my job. I don't even take care of myself anymore because I am so consumed with getting out. If I had a girlfriend, she would be long gone years ago. Heolding off on dating because no girl would be interested in my sh*t situation right now.
I got laid off in 2016 and all my business plans failed . Quitting your job is going to make it worse if you don't already have something going on
Since, I am selling so close to the stock price, the probability of the option getting assigned is high.
Can you explain to me how it is fastlane and not more money system?
If I sold far OTM, i would have similar assignment ratio to you.
This option business isn’t experience based, its just math.
My experience isn't perfect, but I'm quite happy with how things have worked out for me. Although I'm not sure I would recommend my approach to everyone.
I had my FTE last year and quit at the end of October. I didn't have a concrete plan lined up, no business idea yet. Went to travel for a few weeks and there I decided that until I have a business where the market has told me I'm delivering something valuable I would freelance part time.
Until I got a freelance gig I tested out a few business ideas with partners, they didn't work out, after pitching the concepts to customers it was clear that either it wasn't solving a problem for them, or it was going to be a long hard sales process every time for very little money (poor scale).
During that time I found a part time consulting gig where I get paid double for working half the time (but still selling hours ). And working on a new business now (without partners) in the days that I'm not at my gig.
Its not been easy and I need to invest time in networking to get more consulting work lined up for the future. But I've had the freedom and money to test more concepts than I would have been able to while I had a job.
Like I said at the beginning, this might not be for everyone. I'm not a risk taker at all, if I can't manage a risk, I won't take it.
So why did I do it?
Well, I've been working at a high-profile company in a niche industry with a lot of money. Getting a job or a consulting gig in that industry in case things didn't work out is almost guaranteed.
On top of that I married a highly supportive wife, she's a slow-laner herself, but she sees the value and opportunity in the fast lane. And every major financial decision we made (buying a house, etc) was based on the assumption that we need to be able to afford it on 1 income (like I said, I'm not a risk taker). That made this a low risk decision.
Anyways, I know this is very anti fastlane but the only consistent income I could get out of the job is stock options. I have just been dumping my slowlane paychecks into them. I am averaging like $300-400 a week.
Since I understand this option thing pretty well, I wanted to do options on futures (higher leverage).
Are you selling covered calls?
pivot completely
I have been trying again and again with physical product development and really sitting down and thinking how arbitrary this business model really is. Haven't found much success at all, each iteration costs a lot of time and money. In the end though it is still very arbitrary. If I finish the product I could still be stuck with zero. Nearly every product I want to test requires that the product to be fully developed to even show it. There really isn't much "lean" startup method.
The prototype pretty much has to be finished to show functionality and get good product pictures to really sell it.
Anyways, I know this is very anti fastlane but the only consistent income I could get out of the job is stock options. I have just been dumping my slowlane paychecks into them. I am averaging like $300-400 a week. Decided to choose this business because it was more passive and the return on capital is significantly higher than if I got a house. Since I understand this option thing pretty well, I wanted to do options on futures (higher leverage).
I have one more product in development that is waiting on several tools to finish making it.
Are there any more so called "guaranteed" businesses without the arbitrariness like product development? If this product development doesn't work, I am going to have to pivot completely from everything I have learned about ecommerce...
Day in and day out, literally feeling like I am throwing my life away. I keep drooling over the fact of spontaneously quitting and things just end up working out.
On the flip side, you don't have to take anyone into account when quitting your shitty job. Its all on you. You can make drastic changes in your life without any consequences.
You can decide to save up 3-6 months of expenses, downgrade your lifestyle to a mattress on the floor in a shared apartment and do whatever the hell you want.
Wuh? How specifically?
If you had a huge cash out from a fastlane venture and dumped it into stock options you'd become broke.
You may be biased because we are or have been in a good market right now. Can you handle the swings when the market goes sideways?
I had a decent amount in options right now and it's a little scary as the market is a rollercoaster. It's not because I can't handle the swings, but it is because in options you can lose 100% of it. If I were to put that into just stocks, you can be wrong on the timing and still recover.
For example years ago I had calls on Alibaba after it IPO'd, I forget exactly how much but somewhere around $10-15k. Guess what, I was off by 6 months. I don't remember where I got out, probably at $3-$5k, but I do remember that the week after it expired, Alibaba took off. 6 months later my options would have been worth $100k. Should have got at extra year in that LEAP. Doh!
But I understood that going in. Some bets are all or nothing. I could have purchased the stock instead, made alot less, but at least made money.
And to answer your question, I quit my job and moved to Cali into a friend's house with no plan. It's worked out ok.
If you had a huge cash out from a fastlane venture and dumped it into stock options you'd become broke.
You may be biased because we are or have been in a good market right now. Can you handle the swings when the market goes sideways?
I had a decent amount in options right now and it's a little scary as the market is a rollercoaster. It's not because I can't handle the swings, but it is because in options you can lose 100% of it. If I were to put that into just stocks, you can be wrong on the timing and still recover.
For example years ago I had calls on Alibaba after it IPO'd, I forget exactly how much but somewhere around $10-15k. Guess what, I was off by 6 months. I don't remember where I got out, probably at $3-$5k, but I do remember that the week after it expired, Alibaba took off. 6 months later my options would have been worth $100k. Should have got at extra year in that LEAP. Doh!
But I understood that going in. Some bets are all or nothing. I could have purchased the stock instead, made alot less, but at least made money.
And to answer your question, I quit my job and moved to Cali into a friend's house with no plan. It's worked out ok.
Sounds like you buy options right? I only sell options
I have been trying again and again with physical product development and really sitting down and thinking how arbitrary this business model really is. Haven't found much success at all, each iteration costs a lot of time and money. In the end though it is still very arbitrary. If I finish the product I could still be stuck with zero. Nearly every product I want to test requires that the product to be fully developed to even show it. There really isn't much "lean" startup method.
The prototype pretty much has to be finished to show functionality and get good product pictures to really sell it.
Anyways, I know this is very anti fastlane but the only consistent income I could get out of the job is stock options. I have just been dumping my slowlane paychecks into them. I am averaging like $300-400 a week. Decided to choose this business because it was more passive and the return on capital is significantly higher than if I got a house. Since I understand this option thing pretty well, I wanted to do options on futures (higher leverage).
I have one more product in development that is waiting on several tools to finish making it.
Are there any more so called "guaranteed" businesses without the arbitrariness like product development? If this product development doesn't work, I am going to have to pivot completely from everything I have learned about ecommerce...
Day in and day out, literally feeling like I am throwing my life away. I keep drooling over the fact of spontaneously quitting and things just end up working out.
"Seems"? It sounds like you are coming from a position of THEORY, not PRACTICE.
"
Think about this...
Why is the answer to this question important to you?
Why?
From my perspective that answer is clear: You fear failure. You fear risk. You fear discomfort. And now you are seeking validation that you can quit your job and launch directly into success -- minus the fears of failure, risk, and discomfort.
These are all things that aren't well suited for entrepreneurs, let alone Unscripted Entrepreneurship.
The answer to have a plan, even if the outcomes aren't to your expectations.
Wuh? How specifically
This tells me you don't have much real experience in this. I've been selling options for years and rarely get assigned, no matter where the strike. I've sold 1000's of options ... and I'm guessing I've gotten assigned maybe 4 times.
Of course it's a money system.
I've posted a 2+ year / 40+ page thread on selling options on the INSIDE. (I'm guessing you haven't read it, but you should check it out -- it might help you.)
Selling options is a great way to make an extra income, but if one doesn't do it right and doesn't know how to manage positions in corrections, they will lose a ton of money.
And keep in mind, we've been in a bull-market so it's very easy to get enamored with returns when you don't need to manage much.
I've traded through numerous corrections and crashes -- this is the only place where your SYSTEM, your CAPITAL, and your MEDDLE will be tested.
I would not recommend selling options as a BUSINESS (although I do it) but more like a MONEY-SYSTEM strategy.
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