What happens when you quit your job?

[fvcorp]

Good thread. I also had to go through this.

In my opinion, in hindsight, I did the right thing by leaving my career outright and “burning the boats.”

My catalyst: I made one sale of about $10K. At which point, I realized that I could scale that sale easily to $15-25K and at least one or two per month. It was a no brainer to move forward.

I like to simplify business down to just three steps:

1. Assemble Value into a Product
2. Find the Market and sell the Product.
3. Once you sell $10K at less than 50% cost: incorporate, patent and dedicate time.

I personally would never advise anyone to quit their job before reaching the third step.

 

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[RayAndré]

@fvcorp Thanks for that. Yea sounds like waiting till I have income coming from the business is the common advice.

$10k sounds like a decent number...hm...

 

[raritee]

I haven't read this entire thread but would like to comment regarding getting health insurance in the United States. If you have income less than $40,000 when you aren't working and don't have recurring medical expenses, health insurance is basically free. You just go to the government marketplace.

 

[RayAndré]

Well, I quit. I wasn't happy with my role at that job, it was sapping my energy, and I needed a change.

Time to figure this stuff out

 

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[Tom.V]

Well, I quit. I wasn't happy with my role at that job, it was sapping my energy, and I needed a change.

Time to figure this stuff out

No turning back now!

 

[Jesse W]

What happens when you quit your job? What changes do I have to make? What are the logistics?

I've read most of the replies to this thread and they are good ones.
I would like to give a different perspective, one of what I did when I got fired. In other words what you don't do.

I woke up either late in the morning or in the early afternoon. I would wait for things to come my way( in this case waiting on job applications). I would stay up all night and play video games or watch really bad movies/tv shows. I would drink and smoke weed to curb that feeling that I'm not accomplishing anything.
I would rely on family members to find out what jobs where available and would take the easiest job that came my way.

I'd suggest you do not do anything I listed, outside of communicating with family. I got nothing accomplished for 2 years. I can never get that time back.

Put in the effort, the time. Have a goal, and break that down in the smallest pieces possible and conquer them one by one. Don't waste your time like I did!

 

[NewManRising]

To add to this thread, I have been freelancing for about 4 months now. I started as a copywriter and it has evolved into some marketing and branding. As the months have gone on my pay has been increasing and I am getting a little more known. I have a couple repeat/ongoing clients too.

Some things I have experienced:
1. It started a bit stressful and with the feeling like I don't know what the heck I am doing.
2. Realized lately that I make enough now that I don't need a job. I make a decent part time income. With the discipline I have with money and expenses it is enough for me to survive. And I can save some money too to work on bigger projects.
3. The biggest challenge I have now is mentally/emotionally adjusting. I still don't have that feeling like " I finally made it". Not quite there yet. But, it is also hard for me not having a set schedule. You see, I was used to a structured schedule and being certain places and a certain time. Now, since I basically control the time I work, I don't know what to do with this extra time or how to adjust quite yet. It is a weird feeling. I think for me, it still doesn't feel real yet. It really drives home the reality how a person gives up their power and time to others when they work a job. Instead of having others direct the direction of your life you now have the control of it.

 

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[Ernman]

I think that most of the "What's missing" elements are only going to be important if you're a slowlaner.

Spot on, IMHO

I've done this three times now, each with differing success. While all three attempts failed, I learned from each and my third failure was nowhere near as bad as my first. Plus, when I did take a job "to pay bills", I also considered what I would learn for my next exit. Preparing for fourth and much better armed for success. As you've seen in this thread, it's not as scary as you might imagine and very doable with some planning.

What I found most enjoyable, but can be most challenging is owning - and therefore being responsible for - my time. If you screw off on a job, you'll still get paid...at least for a while. If you screw off on your own - you don't make any money. And eventually you're in extremis and looking for a job or short time hustle, which distracts from your business. MJ talks about action faking. On your own, action faking can be disastrous. At a minimum it can lengthen the chasm between idea to first customer. Being responsible for your own time is a great thing - but treat it like the treasure it is. It's your "life ration" - don't waste it.

 

[Blank]

@RayAndré How are things going?

 

[RayAndré]

Things are going DAMN well.

Quitting actually worked out perfectly, with my 2-week notice lining up exactly with an event in Scottsdale earlier this year, followed by me flying to Medellin for 5 weeks.
Its almost like I planned it...

When I think back to the things I worried about before quitting, I just laugh to myself.
Things like: paying for health insurance, finding work, not getting paid if I don't work, etc.
But I knew I needed to.

It's been almost 7 months since I quit. No way I'm going back.
In that time, I've:
* Tried a couple ideas...but wasn't in the right mindset to keep going with them.
* Had the time to find what it is I want to spend my time on.
* Moved ocean-front in Puerto Rico (see link at the bottom of this post)
* Started a biz as a contractor, found a great client, and am working half the time for the same pay as my ex-job.
* COMPLETELY turned my 5-years-shitty mindset around and working on the 27-years-mindset. (Biggest accomplishment)
* Found a field I enjoy, matches my skillsets, and find challenging.
* Found very successful people in that field who I'm now working with directly.

I'm very fortunate to be where I am and have what I have, and really can't complain.
My current project has a very real possibility of getting me to where I want to be.
Just need to build it...


For more context: "Hustle House": What would you want living-wise as an entrepreneur?

 

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[Blank]

@RayAndré That's great to hear! It's always good to see people make the leap and succeed.