Dec

How to Exit Your Job part 1 of 2

Filed Under (Tips) by admin on 31-12-2009

I was talking on the phone yesterday with my friend Bryant about a couple of projects and newsletters we’re working on.

After getting caught up and updated on how things were going the conversation turned to a new project he was very excited about.

He’s been focused on doing a lot of personal growth lately and searching for his true purpose in life and I could tell he really believed in this new project.

Like me he hates having corporate jobs and working in a cube.

Thankfully, I’ve been able to make enough money from my entrepreneurial efforts to pay my bills and haven’t had a corporate job since late 2006. My local business mastermind group has been instrumental in this.

He recently quit his corporate job I believe it was in October of 2008 or maybe September. Either way it was within the last 3 months.

So we were talking about the pitfalls of corporate America, the office politics, the depressing nature of working in a cube and feeling like “just another worker bee drone”, when the conversation turned to getting out of the corporate rat race.

So we started to talk about how to exit your job.

There’s certainly a process involved and one of the biggest mistakes people make when considering this life-changing decision is leaping off the cliff before they’re ready and with no parachute.

I don’t know what your personal situation is. I don’t know what your bills are or whether you have a family to support.

I do know there’s a 99.9% chance you have at least some monthly bills which must be paid.

Despite what the gurus on the Internet and on TV will tell you, having your own business is hard work and there is a ramp up time before you start to see profits.

So the biggest mistake I see people making is being unable to bridge the gap between quitting your job and having the profits from your business role in.

There is that lull in income which takes many people down.

I’ve talked to many people who quit their job and joined an MLM or network marketing company, started their own website business, and even a few who started up a bricks and mortar retail business.

Two of the things they find and have told me about is:

–> they’re working longer hours than ever… way more than they did at their job
–> their bills are piling up with no income to pay them

Inevitably, they end up having to go back and take a day job as they didn’t have enough savings to pay the bills until their business started bringing in profits and they could use those profits to pay the bills.

There is a better way.

In talking with my friend we discussed a few potential ways to make this happen without ever disrupting your income stream.

There are a few creative ideas where you can secure your own little “golden parachute” and have the best of both worlds.

You can secure your income or at least close to the income you are making before quitting your job. And you can free up enough of your time to start building your own business. Which is what you want…to have an asset you own and can be collecting money off of every month and/or sell at anytime you desire.

In part 2 tomorrow I’ll go into some of the specific strategies we talked about our phone call on how you can quit your corporate America cube job.

Originally posted 2008-11-11 11:58:30. Republished by Old Post Promoter

Related Posts

Lack of Focus Destroys Productivity In my last article on the power of local business networking mastermind groups I promised to talk to you about some of the lessons learned from my local Austin, Texas business networking meet up group. In particular one of the ladies in the group made a comment about how it......
Twitter - Top 5 Uses One of the fastest growing social networking internet services must have some use for business! Thus, declared a seasoned entrepreneur. So why would an internet “newbie” who is one of a growing number of businessmen and company executives looking for ways to leverage these internet networking services want to use......
Earth Day Business Story... Earth Day Business story and the disastrous waste of pizza. But first Earth day is upon us. April 22nd is the day and if you want to join the party and help out with a $10 donation join the FB group here. Now back to my story... Little Caesar's just......
Driving WebSite Traffic There are many ways to increase your website traffic. Although everyone would like to use methods that are both highly successful and free...that's just not the reality we live in. Once you have maximized the best free traffic generators..you might want to add some ppc to the mix to effectively......
Exit My Job - Say What? I've been talking over the last 6 months with my friend Bryant Jones about once a week. Sometimes more but that's about the average. He's been telling me wild stories about Thailand in particular: 1. Beautiful women 2. Late nights and fun parties 3. Kicking back and enjoying a laid......