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Would you quit job to pursue fastlane ?

Discussion in 'Ideas, Needs, Concept Feedback' started by LTE, Jun 25, 2018.

  1. LTE
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    LTE New Contributor

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    Hi everyone,

    Im looking for some advice here . Im seriously thinking of giving up my slow lane job ( good title, okay salary which pays bills) to pursue what i like and which can be a faster lane ( both affiliate marketing and dropshipping).
    Ive been doing ebay dropshipping for a few months now and im in the point where i can pay all thr business expenses ( vas and softwares) but im not making any profits yet. And this is mainly because i do not find the time to scale up and to work at it. I also have a one year baby and its not easy at all to combine everything . I dont particularly like my job and i find that im selling and wasting my valuable time which could be used to do other more meaningful things .
    I can cover living my expenses for a year. I know its a risk, but its a risk im willing to take and i know i can achieve my goals .
    Has anyone been in this situation ? Has anyone succeeded or even failed ? Any advice will be appreciated



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  2. Ravens_Shadow
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    Ravens_Shadow Nick Seavert - JangaFX Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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  3. JacobJ
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    JacobJ I’m a terrible employee Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    Hi LTE,

    I'm a practical guy; why not working four days a week and one day extra on your business? When things take off you can work three for a boss and so on. This way there is absolutely no risk on losing your savings and you have a backup to provide for your family.
     
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  4. LTE
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    LTE New Contributor

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    Good idea . But its quiet hard to find a part time job where iam from . Ill keep it in mind though.


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  5. LTE
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    LTE New Contributor

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    Thank you . Thats what i was looking for , obviously iam not asking anyone to make the decision for me , just looking for some directions . I tried the decision matrix and the result was ‘quit your job’. I think as stated in the article nothing great has ever started without RISK and im willing to take the risk!


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  6. Thetaker24
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    Thetaker24 New Contributor

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    anything is possible, if you want to fastlane, you must do this step by step. and archise the first step before you can go to the second.
     
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  7. Victor Cezar
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    Victor Cezar Contributor Read Millionaire Fastlane

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    Hey dude,

    I am the same bot as you.

    I have a good job with a good income, I have a child of 2 years old and I have zero experience as an entrepreneur.

    I was thinking to leave my job... but I decided to reach a goal first.

    it is: Create a second income, even if it is not too much.

    This will teach me how to create something and make money with it, after... I will be ready to leave my job and jump with the whole body in this new adventure.

    Good luck

    GG
     
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  8. jpn
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    jpn Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I can't say if you should quit your job to go into the fastlane. But I did.

    Like everyone above said, we can't tell you what to do. But I can tell you what I did. And why. And how its working out for me.

    I quit my job without having a clear idea what business to start yet, I just had my FTE. I was done with it. So I quit.

    But to be clear, I'm not a risk taker. I followed some advice of I got from a ridiculously successful (9-digits) serial entrepreneur. What is the one thing every entrepreneur needs?
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    Pause for effect....
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    A spouse with a steady income.

    I was young when he said that, and didn't really get it. Now I do.

    My wife loves the slowlane for herself. She enjoys having an office to go to and colleagues to work with. But she also understands the a-symmetric rewards of the fastlane and supports my choice to pursue it. She also makes enough to support us both.

    Having said that, I've worked on 2 projects so far without any success. Currently freelancing part-time at 2x my previous salary, for half the time and getting the 3rd business off the ground. I think this may be a winner.
     
    Last edited: Jul 11, 2018
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  9. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Not really "Fastlane" from a structural standpoint (CENTS), but more bill-paying and money-chasing.

    If you're not making any profits yet, or don't know how, you have no business quitting your job. Scaling a no-profit business means scaling a no-profit business. ZERO "scaled" is still ZERO.
     
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  10. S.Y.
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    S.Y. Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Minus the baby, I would have said why not? One year of expense is pretty good. With the baby however, I will say to really think this through.

    Time is f*king excuse. I don't how much time you spend at work but you have 168 hours a week. Let's say you work 50 hours and sleep 8 hours a night, you still have 112 hours available. That is a lot. To put it in perspective, Elon Musk works about 50hours in each of his main businesses. It is reasonable to say that you can find 25 productive hours outside of work.

    Even more, can you find time at your job for your own sh*t. Again, I don't know what you are doing, but it is worth exploring. I streamline my processes and automated a lot of stuff in my current role. Most day, my job is done within a 1h. I help my colleagues usually for 1-2 hours. And the rest I work on my own stuff.

    Back to the actual decision, @MJ DeMarco had a great framework:
    1. what is the worst case consequence?
    2. what is the probability of that happening?
    3. is it an acceptable risk?

      add:

    4. would you regret your decision one week from now?
    5. would you regret your decision one month from now
    6. would you regret your decision one year from now?
     

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