Should you quit your job and start your own business? -That's a big question. I've
got an answer. That's a life changer. Hey everybody, it's Scott Christopher here
joining... -I'm Nate. -Nate Woodbury. It's his channel. It's his video I'm just here to
sit and listen and prompt with certain questions. -He provides the the good looks,
the pretty face. -Wait a minute. Because I know the rest of that is somebody's got
to provide the brains and all pet shop boys on. -I'm complementing him and he turns it into insult.
-I appreciate it but I know you're lying because I am 51 rocking years old. Okay.
So, we're talking about quitting job, starting a business. Yes or no? -Yes and no.
-Okay, wow. Thanks for committing. -Yeah, yes and no. There's reasons for it to be a
yes and there's reasons for it to be no. -Of course, I mean a stupid question to ask because it's
not... There's no cut and dried answer for anything. -If you really want to succeed
in your business, you want your... Even if you're doing something part-time, you
want to quit your job and go full-time into this idea. It's also... -Still yes or no.
If you really want it to succeed, I think the answer has to be a yes. You've
got to go full-time for it to really succeed. -Okay, I agree with that, yeah. -But...
-But the security... -There's some risk. -Yeah. -There's some big risk associated with
that. -Before you go, why are you specifically answering this question
online today? Because normally you talk about YouTube and YouTube channels and how did
it at that. Are we going to get into that at all? Is that where we're headed?
-Not YouTube... Not... We can. We can touch on that but this one is just
entrepreneurship. Because I quit my job and I started a business. -Because you
worked for the man, so to speak. This was not your company, it was someone else. You
got a paycheck, okay. -Yeah. -Me too. -Let's just start with the story and then we'll
kind of like dissect it and see what might apply to you. So, I had a sales job.
I was... Well, didn't even go back right before that. I was an independent
contractor for natural companies. So, I was kind of
independent. I really like that freedom. I wanted to get a change and so, getting
out of the financial world, selling insurance, selling securities and
investments. -Selling anything for business, I would quit before I started. But that's just me.
-But I was good at sales and so I got a job doing telemarketing for a
internet marketing company. I was actually really good at it.
-Oh. -I made some good money. You see... You're this thick-skinned. You
didn't care for everybody and America hated you and... -Well, here's the thing.
You have... Your you're good at sales, you just must not call us sales because to
succeed in anything you have to be good at sales. -I agree. No, you are right. You convinced your wife
to marry you. -Okay. But let's give it back... Let's get back to telemarketing. So, I was...
I was on the phone selling website design, selling searching
and optimization. -Okay. -And I did really well. I actually made a pretty good
living at it for a while but then they started recycling the leads that they
were sending to me. The people that I would call. And my income started going
down. Well at the same time that my income was going down because I wasn't
making as many sales on the phone, I had been experimenting. I advertised on my
local classifieds, a website design service. Kind of a side story, I was
selling a website to my telemarketing for $2,000. And I would
follow up and find out that you know, a couple months later, they really didn't
have much of a website. It really looked lousy, you know, I'm like, I can create better website than that. So, I kept
selling it at my job. But I advertised locally and found a... Found a person that
wanted to pay 500 bucks for me to design them their websites. In fact, I got two
clients. Design them a website, it was in Joomla. It's kind of like WordPress but
back then Joomla was better. And both my clients were happy. Okay. So, now my income
up my job was going down because they were recycling leads. And I got behind on
my bills. And I came to a moment where I thought, "If I go another month with the
same income that I have here at my telemarketing job, I'm going to be in a bad...
I'm already behind on my bills. I'm going to be even worse. This thing might work. I
already... I tried it. This experiment selling websites on my own."
So, I took the plunge. I had a plan, I knew but it was, it was a risk that I took. I
went home that day. And I told my wife, "I just quit my job." You know? I didn't
consult with her beforehand. That's kind of... That's kind of a flaw that I have. It
turned out okay. The company that I started, almost 9 years ago, now is the
same company that I have today. Services have evolved. We don't do
website design anymore. But I went on that next month,
I sold enough websites to catch up on our bills. And well more than some. We
went on to you know, sell 20-plus websites every single month. Which is
pretty cool. -Yeah, I know. -So, you would say yes in order to really, in order to really
focus on what it is that you're passionate about that you're doing. If
it's on the side. -Here's the reality. In the previous month before quitting, the
total earnings that I had made from those clients was 350 bucks. Whether I
think I might have a lot in the split payments or whatnot. And so, $350 had come
in in that previous month. And that was enough to give me confidence to quit my
job. So, that's a big leap. -You were young then. -Mm-hmm. -Yeah. You probably didn't
have kids. -I did. I have one at least. Yeah, I had two kids. I had two kids. -Man,
that you had a lot of faith. -But it was... I was kind of pushed out of the job. If I
would have been making a lot more money I probably wouldn't have taken that leap.
But because my income at the job was going down, it's like... I really didn't
feel like I had a better choice. It's like, "I'm going to be worse off here anyway."
I have this idea. There's a probably a higher likelihood of that succeeding. So,
I took the leap and I'm glad I did. -Let me not tie this into what is commonly
the theme here as we do these videos. Which is being an entrepreneur but
really it's about you know, making money, making a living on.. Using YouTube
as your kind of as your main platform. Whether it's from pure Adsense because
you have a bajillion people subscribing and watching your videos. Or you're able
to promote your own business or other revenue streams that we've talked about.
The fact is, is that really a full-time worker who has security and benefits and
all those things right that keep them grounded and happy
spouses and family members could still do YouTube. I mean, not to the extent that
we're talking about... Generally, where it really does feel like a full-time job. I
mean, if you're putting... You putting up enough content. And if you're handling
the editorial yourself for heaven's sakes, you're spending a lot of time. But
even if you were anchored still to the man, you could in fact, without having to
quit your full-time job, you could still make supplemental income by doing, if you
do it right. -My recommendation for most viewers is actually, "No." -No what? -I
wouldn't recommend that you quit your job.
-Okay, that's what I'm saying. Just because you're probably not ready. Now, I didn't
know for sure if I was ready but I had had some experience working
independently. I knew how to sell and I had done some tests that had worked.
And I thought, "Well, if I'd were to dedicate this, you know, 8 hours a day,
I could easily..." You know? So, I had a plan but I knew what the risk was as well. And
so my recommendation is to take steps. Maybe create an emergency funds. That
would have been a good thing to have. -A little nest egg. -Create an
account of funds that if something goes wrong you can still survive for a month
or two. -Right. -You know? -The fact that... If you have any sales ability whatsoever,
and if that's the job, you're thinking of leaving to go into this. And you have a
nest egg. So, you have... You can sit down with your significant others. A map out.
I've got... We've got 5 months. Worst-case scenario, this business does
nothing for 5 months. We can live off of this. But you add to the fact that you
have a skill like sales. You'll always get a job. If you're a salesperson. If you
know how to sell, it's almost job security. Truly. And you have the
experience in a resume to back it up. -Well now... The reality is, I've got a lot
of experience. I've got a lot of expertise. People pay me a high dollar
amount for what I do. If I were to go get a job, I don't have confidence that I
could qualify for any job except for sales. -Right. -Like the stuff that you
would put on a resume, it's like... -Yeah, but every company is a sales company. You
know what I mean? -So, I could easily get a sales job?
-Exactly. Then you'd be fine. But luckily, you don't have to. -Yeah. -And so, that's the
point is just be like Nate and you'll be fine. Maybe that's not the point.
-Be like Mike. -Have I... Have I taken us down a different path? Is this not where you
wanted to go? -This video went perfectly. Everyone there was like, "Man, this is the
most valuable video." They're going to subscribe, they're going to like rewind
and watch it again. -And they're probably going to quit their
jobs tomorrow in search of the almighty YouTube dollar. -We'll find out.
Share on the comments below if you've had any experiences or anything like that.
Whether you say, yay or nay. And we'll see you tomorrow.