I keep hearing people say things like I hate my job I don't make enough money in
my stupid boss this or that and and then a week a month a year a lifetime later
they're still at that same job they've got dreams of spending more time with
their family traveling the world working on their own thing but it never happens
sure maybe they jump over to another job but let's be honest the same jerk
coworker boss time clock and TPS reports are there too so how does somebody quit
their job for good
my name is Brandon Turner with biggerpockets.com and today I'm going to give
you the kick in the pants that you need to abandon your day job and into the
world the world of entrepreneurship stay tuned
if you want to quit your job and start living life on your own terms
you're going to have to grow up and understand three simple truths maybe for
number one you've got to take it no one's gonna give it to you
look you need to stop living reactively this means stop living life like your
pinball getting hit back and forth by everyone and everything else
what do you really want with your life really what you want who you want to be
what do you want to spend your time doing what makes you happy and fulfilled
how do you want your data look where do you want to live how do you want to live
figure out who you want to be and then start living proactively and spending
your time going after that with everything you have right number two
you've got to use your collateral now if you're looking for to quit your job it's
likely that you have a few ideas of how you want to do that maybe going to flip
houses maybe you're gonna open up a gas station maybe you're gonna sell products
on Amazon whatever but it's gonna fail if you don't have the collateral to back
it up now what is collateral well it's the term used in Cal Newport's
book "So good they can't ignore you" that kind of means knowledge, experience, all
those things you've acquired in a given industry and too many people try to
start a business without the collateral and then end up broke or worse
let me give an example I've been invested in real estate now for a decade
i know how to find, analyze, finance deals i know how to flip houses I know how to
manage tenants but if I suddenly decided to open up a burger joint
because it sounds fun my lack of collateral is going to kill me
I don't know anything about burgers but could I open a roofing company
well there's a better chance of that because i have some collateral on that so
maybe you want to open up across the gym or a plumbing company or a music studio
or whatever before you do ask yourself do you have the necessary collateral the
fastest way to quit your job is to use the collateral you've built up at your
job to start getting paid for it maybe that means freelancing or jumping into a
related field but it doesn't mean jumping into something that you have no
idea what you're doing
play with your strengths and use the clutter you have or start building
collateral today all right number three if you're good at your business doesn't
mean you're good at business there's a big difference between making a latte
and owning a coffee shop yet time at the time individuals who happened to be good
at a certain trait try to open a business that in that field but they
fail but Brandon you
say didn't you just tell me to use a collateral we have to open a business but
yes and a coffee shop is a pretty great business for a barista to open if the barista
is willing to learn the skills needed to run it called business management is
management is a skill which means it can be learned
so the plumber who wants to open a plumbing company should spend more time
learning how to run a business than fix the leak a fitness coach who wants to go
on their own to spend more time learning how to market themselves and organize
their paperwork than learning how to the latest training technique a barista
should spend more time learning how to grow a coffee shop and less time
learning how to make a perfect latte for more on this concept of course make sure
to read the great book the e-myth revisited by Michael Gerber it will
change your life
alright I got one more tip for you number four as this embrace the
day-to-day grind the problem with most entrepreneurs is not that they lack a
plan is that they lack the day-to-day struggle needed to achieve their goals
they switch back and forth between ideas every week
unsure what the right choices they spend their time working on fun projects like
designing business cards are attending conferences rather than spending the 12
to 18 hours a day working on their craft they get bored after a few weeks and
they stop hustling so entrepreneurship is not easy but it's also not impossible
it will work if you work it but we're not cooking a casserole here if not set
it and forget it
entrepreneurship is day after day week after a week late nights early mornings
tough times slow times delayed gratification constantly improving it
never giving up and anyone who tells you otherwise is trying to sell you a dream
I'm not about to do that you don't need a dream you need to get off your butt
and put some good old-fashioned work towards quitting your job and even then
you might fail because not every business ideas guaranteed to succeed but
you will succeed if you're persistent enough to show up every day and work it
now if you enjoy this video I like you to give me three quick favors number one stop
eating so many carbs are not that good for you number two remember to click that little
thumbs up icon on the bottom of this video and let the world know how awesome
this video is and number three
come hang out with me and the rest of the BP crew at biggerpockets.com the
real estate investing social network where you learn how to quit your job to
the power
for a real estate investing it's pretty much the best website ever so let's get
out of here for biggerpockets.com my name is Brandon Turner signing off