Hey! So, I'm going to go over in this video how to quit your job and start your own
business. And I have 3 s's to kind of guide you how to do this. So, these are
the 3 s's to quitting your job and starting your own business. And I'm
making these 3 s's this shorthand to help you get started. Just a little
primer about me, I quit my job back in 2012. And I started my own business. By
2015, my business was doing over a million dollars per year. And at this
point in 2019 which is where we're at now. My business does roughly half a
million dollars per month. Last year, my business did around 5 million dollars. So,
point being, you can do it. It's very possible and I'm going to show you the best
way how. So, the first s, the first s is save. When
you're thinking about putting your job and starting your own business, start
saving, okay? You want to hope for the best, of course. But prepare for the worst. Have
you heard that line? "Hope for the best, prepare for the worst." Because the fact
of the matter is as an entrepreneur, income is like this. Okay? When you're
working a job, income is a steady line. You're always making that same amount of
money per month. Now, you can make far greater amounts of money as an
entrepreneur but it's still you're going to have high months and you're going to have
low months. And working for yourself is not consistent. Now, what I did when I
started thinking about quitting my job, what happened was I went to ask my boss
for a raise. It was June 2012. I had added an extra $100,000 a
month in profitability to my boss's company. I was working directly under my
boss at an ad agency. And I had believed, "Okay, I added an extra
hundred thousand dollars in profitability per month. It's probably a
good time to ask for a raise. Or some sort of incentive plan or bonus plan or
equity plan or something." Right? I asked for that raise and I remember
you know, I justified everything I had laid everything out for him. I, you know,
I'd spreadsheets, I'd everything to justify my value to the company. And I
remember him saying, you know, his retort was, "Or what?" He just stared at me.
And I was quiet. But I just... I can tell you I want to reach across the desk,
freaking strangle that old man. It was... It was so annoying. I'd added so much value,
it was very annoying. And that's when I decided I need to start saving. So live
frugally as possible and save as much money. The second s is strategize. Part of
strategy for running your own business is you want to make at least 50%
more than what you're making at your job. Okay? Because once again,
entrepreneurship has highs and lows. And the tides can shift, the amount of money
you're making. You know, I've gone from in my business making 6 figures. You know,
hundreds of thousands of dollars per month to losing money in a single month.
That's the difference a single month has made in my business. Just because of
changing business situations. So, things can change very dramatically or if
you're doing a business where you're very reliant on one client or one you
know, marketing strategy or one sales strategy or you know certain government
law, things can change very quickly. So, you want to strategize. My rule of thumb
is 1.5 times whatever you're making. If you're making $5,000 a month you want to
be making at least 7 and a half thousand dollars a month on your own
before you quit your job. If you are making $10,000 a month, you want to be
making at least $15,000 a month on your own. Because again, things are not as
consistent. And if you couple that with saving, you know, that's a really good
situation. To really allow yourself to be running your own business for the long
term. Because what what isn't a good situation is quitting your job, something
happens in your first couple months as an entrepreneur and you lose some of
your income. And then having to go back to work 3 months later. And it
happens, it happens all the time. It's because people didn't save, it's because
people did strategize. So, keep that in mind. When I was working
my job what I did was I was making $6,000 a month at my job. I
didn't quit until I was making $10,000 a month on the side.
Does that make sense? So, outside of my job, outside of my 9-to-5 job I was
making $10,000 a month income working mornings and nights
basically. You know, the way I did that was I was running an ad agency at the
time. You know, my own. I was freelancing I was working at an ad
agency and I was freelancing. And managing Google AdWords accounts. And
what I did was at nights, I went to places where I'd find these high-end
clients would hire expensive freelancers. That's what I did. And I serviced their
accounts at nights too. So, I was constantly trying to do this and make
this money so that I could quit. But again, I didn't quit until I was
making quite a bit more than what my job was paying me. And that gave me that
buffer zone. Third S. Third S stands for start. And this is probably the most
important thing, is what's funny is after I decided I was going quit my job, I
actually decided that month at June 2012. After I had that horrible conversation
with my boss where he said, "Or what?" I had decided that I'm going to quit. Now, what's
funny is there's so much paralysis. I was so scared to quit my job because I knew,
you know, in the back of my mind... You know, and everybody wants you to work a job,
right? And your friends your family. You know, you
coworkers. It's a big deal when you quit a job. You know there's a lot of things
that go with it. And for months, I just let the decision linger. I was scared to
actually do anything about it. But what you've got to do, it didn't change until
I actually went to this Tony Robbins event called unleash the power within.
And this was in August. So, a couple months later. And you know he does
this thing called the Dickens process where he has you imagine what your life
is going to be like. And you can do this right now.
Just imagine what your life is going to be like if you don't quit your job a year
from now. Then imagine what your life is going to look like if you don't quit your
job 5 years from now. Then imagine what your life is going to be like if you
don't quit your job 25 years from now. You know, it's a visualization
exercise and I did this. And I realized my life is going to be nothing like what I
want it to be. You know, if I... For me, it wasn't just quitting my job. It was just
working a job not being my own employer. And I realized I just needed to do it.
And I could delay this decision. I could delay it for months, I could delay it for
years. And it's very easy to delay quitting your job. But you got to do it
at some time. And the thing was just start. You figure stuff out but you just
have to start at some point. That's the hardest decision to make. But once I
started, things fell into place. What's funny is after I quit my job, I was
making... I went from making $6,000 a month in my job to after I
quit I was making $30,000 a month. You know, working for
myself. And I was I was 23 at the time. So, once you really do it, things can fall in
place. You know, just a little encouragement from me to you is if
you're going in from a good place, do it. You know, you have to make that decision.
You have to start somewhere. Now, I hope you enjoyed this video. I hope you
enjoyed some of this information and let me know in the comments what was the
most helpful to you. Was it knowing to save? Was it knowing about
strategizing one halftimes? Or was it just starting? And
you know, maybe maybe a little story from me about how I got started. And
how long it took me. Let me know in the comments what was the most helpful to
you. Liked this video and subscribe to this channel if you want to learn more
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