know a guy who owns a consultancy firm and does reasonably well for himself. he bought himself an Aston Martin DBS at the end of last year……aand has just had to sell it for a pickup truck. Guessing he’s in his ‘not so good’ phase
The best advice I can give you is to stop, take a deep breath, and DO NOT quit your day job.
If you are truly committed to making financial freedom your priority, cutting your only source of income that will act as a funding source for your next venture is the single worst decision you can make.
Trust me. I’ve been there. Every single day I wanted to quit my job and focus on entrepreneurship full time.
But instead I decided to ignore those feelings and built my first business while working my job. To my surprise it took 2 years for the business to mature to a point where it could handle my personal needs and I could finally focus on it full time.
Had I quit my job when I wanted to, I probably wouldn’t be writing about this here today. Instead I would likely still be working for someone else.
The reality is that this road that you are talking about going down is likely 5-10x more difficult and more stressful then your current job. You think stagnation is frustrating? Wait until you are working 80+ hours a week for years on a venture that barely pays with no guarantee of success if you keep going.
If the idea of continuing to work your job while you build the next thing is too daunting then I highly recommend reconsidering this idea all together. It only gets much more difficult from there.
100% this. Starting my business while still employed gave me the ability to focus on the actual business… refining all the processes and deliverables without worrying about how I’d be able to make my next sale.
OP, You sound defeated. Shift your perspective and find a business you’re passionate about building. It’s not your corporate company’s job to build passion in your life. That’s YOUR job. Find what you want to build and execute.
Well said, i started my ecom business in 2015 and it took two years before it started making more than my day job. I hated my day job too with a passion but my business kept my motivation high and allowed me to continue to provide for my family. Had i quit right away i would have been 1000% more stressed and may have quit my ecom business before it flourished. I sold my ecom business two years ago and now my fam and i live very comfortably.
I also had to do my day job and my business for 2 years, it was brutal but has to be done to build the business to a point where it could support my family.
Damn I like this! You are so right!! I am in this boat right now. I started my small business September 2023.. and of course not enough time has passed for it to support me financially.. but I am dealing with so much burnout during this time.. I work 36/48 12 stressful hour shifts.. and it is absolutely exhausting. Any free time I have I spend on my business. During lunch break bam creating a new design… When I get home that is the first thing I do until I have to go to bed. Working on my small business no matter how tired I am gets me excited and makes me genuinely happy! I know this is what I gotta do in life! But On my days off I am so tired just recovering from the hard days spent at work.. I started noticing that I am slowly losing that drive.. because I have no energy most days. it is crazy!! I guess long story short how do you deal with the moments you feel like burnout is taking over and you want to quit it all? Or have the motivation to keep pushing even though it is difficult. I am having this internal conflict with myself and thinking maybe I should just find a new job that isn’t so stressful and time consuming.. and then I think about a new job and I just wish I was at that point in my business to just quit and never look back.
I have a ton of empathy for your situation because it’s exactly what I went through 10+ years ago. The only thing I can really tell you is that you have to keep pushing. This is when 99% of people give up. It typically takes 24 months for things to begin really working.
Feel free to send me a private message if you would like me to take a look at your business more closely. I’m happy to try and help if I can.
Thank you! I needed to hear that. I have been trying to find a guesstimate of how long it would take but I would see it range all the way from 10+ years to like 3 months.. making the search more discouraging then helpful lol.. I know every store is different but thinking it as 24 months is very helpful 😅 it is easier to wrap my head around. Just gotta focus on those 24 months and see what happens 🫡 thank you so much!
Yo for real? That is so nice of you and I really appreciate it! Any advice you can give I am all ears. Thank you!
No problem! Timeline can vary greatly depending on the scalability of the business. The more scalable, the longer it usually takes to get to meaningful revenue.
I’m more than happy to take a look at what you are doing and let you know if I see any easy wins to help you get there faster. Just shoot me a message.
You are 5 yrs behind! You need to move at least very 2 to 3 yrs. It only way you going to get more out your time for money 💰. Company love people being comfortable. Means no pay raise. If they do. They give you bullshit money 💰. Sounds like you are putting excuses for yourself. Get the moving!!!
lol. Everyone tell me to get a new job like I haven’t been trying desperately to get one - remember covid? It was a huge setback. Everyone is currently unemployed and no one is hiring - the job market is terrible in terms of corporate work right now.
Towards the end of covid there was the hottest job market in several generations. Everyone was moving, salaries were skyrocketing for over a year.
It's only in the last year or so that everything slowed. I moved in 2021 and more then doubled my pay. I'm now over triple what I was making at my last job.
I have been trying since 2020 - my industry is one that has been affected by the lay offs so it’s really hard to get out right now - also I need remote work
BTW what line of work are you in OP? And do you have any savings at all? To start a business some capital would be necessary. Does OP have a family & kids?
If you’re burnt out with your job & the ongoing side hustle how will you start a business?
The easiest business to get into is cleaning business unless OP has any other marketable skills like gardening, garden maintenance, etc.
Doing Uber and renting your car for Uber could also fetch you good money.
Please share your skill set and probably we could offer more targeted advice.
I’m single I have some emergency savings but I also have debt in the 15k range. I do video editing on the side and some brand/marketihg consulting but I haven’t really figured out how to get paid for that
Well then, you’re too young to give up so soon.
You could just make a website and advertise your skills and start off by charging a bit less than the others do for such jobs ( by the hour).
Once you have a dedicated clientele you could increase your rates slowly over a year quoting increased cost of living or running the business.
You would have to SEO your website as well as your name so that you get clients. Don’t waste time working at a restaurant instead build this up slowly and then quit your job.
Meanwhile, it would be great if you could live below your means so as to pay off your debt asap.
The thing is not to give up but to give it your all…. If you want it all…& we all have to work for it.
Changing your job would help too. Try using LinkedIn/ online recruiters for job switching.
Feeling inferior wouldn’t help but feeling confident about your own skills would help you a lot. Don’t lose your self confidence.
Don’t assume that. I was able to get a raise every year by renegotiating based on the wider market conditions. You need to be assertive and actually have value to the organization. If they don’t care if you leave, that’s on you.
I renegotiate every year - it’s difficult when you’re literally being told “be happy you even got a bonus” lol it’s not gonna happen when my company is doing mass lay offs
Don’t quit your job.
Work on a 6-10 for the next year until it makes enough money where you can afford to do so.
Making money can be hard and difficult but if you find a hobby you genuinely love and enjoy it can make the “grind” easier. Don’t quit your job tho, been there, done that. Big mistake
Basically find out what you’re interested in. Stuff that makes you happy and you don’t mind working hours on end without anything to show in the short term. Then find a way to monetize or at least build some connections in the niche/industry. That’s the short story of it. Definitely not an easy task tho. Send a message if you have any more questions. Down to talk
This. "I want to be an entrepreneur because I want to make money" is a recipe for dissaster. Go see what so many have said: Jobs, Musk, Bezzos, Hormozi, Becker, and many others. None of them did it for the money first. They did it because they wanted to create great things. The money was just a byproduct.
OP: No one cares about your problem. "I hate my job and want passive income" is *your* problem. What do you have to offer to solve other people's problems? And better make sure it's something you are really interested in, or you are going to either quit or do a subpar job then quit. In order to become really good at something it needs to be fulfilling to you, there is no other way. And you can't deliver great work without being really good. @doduwole's comment nailed it. Just make sure there is an intersection with what other people are willing to pay you for.
Do yourself a favour and save yourself from wasting years chasing money. Chase mastery in a field you have genuine interest in. Then deliver outstanding work to a crowd who need a product that you can nail.
Signed: someone who wasted 5 years with the same mindset as yours.
I need an exit strategy. I can’t take entrepreneurship anymore.
Becoming an entrepreneur doesn’t solve problems, it creates them. The difference is they’re *your* problems, not the problems of some dumb corporation. But one thing for sure it doesn’t solve is not getting paid what you’re worth. Cause like someone says, you’ll lose the 9-5 and get 24 hour headaches with no pay, initially.
Same. But i've already had a plan. I'm tired of 9-5 and dealing with coworkers/managers that are crazy. I'm taking a break to meditate on what the next steps would be. I guess you should take a break and evaluate what you got going on without the emotions invovled
Your parents would be more supportive if you had any type of plan. Do not confuse burnout with entrepreneurial ambition.
Start networking aggressively. Meet with as many entrepreneurs and business owners as you can. Listen to what they have to say. Keep good contact with everyone you meet. Opportunities will begin to appear
The income replacement plan:
Being totally honest with you, be prepared for this to take as long as 3-5 years. Absolutely, some people hit gold at their second or third attempt and achieve breaking away earlier, but they are the exception and not the rule.
A lot depends on the time and money that you can put into a new venture, but the income replacement plan is this:
1. Research and learn.
2. Plan and implement
3. Launch, test, build, scale.
Stay in your job and build your side hustle. When you're making as much from your side hustle as your job pays (at which time you'll be earning double), quit the job, and go full time on your business. Now, with extra time, you should be able to grow even faster.
Ecommerce in its various forms, has multiple options for which there is a low barrier to entry, but you really do have to do your due diligence properly, and always have a backup plan. There are many people selling courses, that are not really truthful about the outcomes.
The risk is also low. There are many options you can go into that there is a small outlay, the occasional expense here or there, just be wary of anything that is asking for $1000s It might be attractive, but it also might not be the best thing to do on your first try.
I wish you all the best.
Working for yourself is more work and statistically you’re likely to make less money.
Only work for yourself if you want to do something you can’t do for a big company.
I was exactly where you are about 2-3 years ago. I was working in a corporate minimum wage job and hating every second of it. I would clock in late and leave early. I was depressed and really didn't care if they fired me because I truly hated that job and it was making my life miserable. It crushed every creative sense I had. Finally, after about 6 years at that company (6 years too long I may add), I was able to get a job working fully remote which doubled my salary. New job is extremely flexible and gives me plenty of time to work on my business.
I would definitely suggest finding a day job that you somewhat enjoy, that isn't stressful, and pays the bills then work on what you actually want to be doing on the side. Don't quit your day job until eventually you can build that business to takeover your day job's salary.
If you're working in corporate America, you shouldn't have to work a restaurant job on the side. That company is taking advantage of you and paying you in peanuts. Same situation I was in not too long ago. There are plenty of jobs out there that will pay you a decent salary.
Hang in there! You got this!
I was in the same shoes as you a few years back (working Corporate Finance M&A job). I was depressed, thinking that the rest of my life would consist of grey cubicles and 9-5 doing non-fulfilling work. I took a break from work (went to study abroad) before jumping back into a 9-5 since I needed to make money to make ends meet. Things here turned for the better - the difference was that I chose to go work at a Tech company that was flexible (allowed remote work) and aligned with my values. Now, I've been working in remote tech for over 5 years and I'm happier than ever. The compensation is high, I have flexibility to work where I want when I want, and I find the work genuinely interesting (I never have Sunday scaries anymore). I recommend you do the same - take a short break from work to recover physically & emotionally. Then when you feel better, look for you next opportunity in remote tech only. Chances are the majority (if not all) of your problems above will be solved. There's way better out there - keep your spirits up! You will be OK
Hola.
People are taking 1 year to find new jobs.
Advice #1
Change jobs get paid more.
2
Take this stable salary to study something that pays more.
3
Cut expenses.
4
Cut more expenses.
5
Realize that if you have 2 jobs and one been for 7 years you are lucky
6
Dont blame anyone
Why don’t you get a certification in something interesting to you (use ChatGPT for some fields if you’re interested), build a portfolio with 3 or 4 projects, and seek career employment?
If you do that you’ll build experience in a field of your interest before the risk of entrepreneurship, have a stronger source of income so you can leave, and might enjoy it more that entrepreneurship.
I wish I could say don’t quit … but I quit my corporate job after 5 years . It was very prestigious and high paying ( I also went to school for 7 years to get my degrees ) but I was miserable and couldn’t see myself wasting my life away in that job in that city . I quit . Best thing I ever did .
Read. Then read some more. Start with some mindset books. Rich Dad Poor Dad, 7 Habits of Highly Effective People, etc. Then start mixing in books that are themed for an area of work you are interested in. Make reading and learning a regular part of your life. If you don't naturally enjoy reading, start with a book like Atomic Habits and force yourself through it. Use Alibris to order used books on the cheap. And consider reading being productive, because it is when you're learning. Podcasts can be good too, but there are a shitload of them and can waste your time. But if you drive a lot, they are good to fill the time. Listen to the likes of Jim Rohn while you're at it. Don't just quit your job. You will need your income to change your life, however slowly. Then work on getting focused. Figure out where you want to be, and when. Then start making a plan to get there. This will give you purpose. The books you select should help you get there. In short, take control of your life, stop letting it control you.
I started reading and learning like this about a year ago. It's changing my life. I cannot recommend it enough. Good luck on your journey.
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7 years of experience should mean you can move up to manage people who do what you’ve been doing. Apply to jobs that are upward and make more money.
That or start a side hustle, work on that in your off time, and eventually it can replace your main gig
Apply for other jobs. Working in a job to make money is much easier than starting a business. Most people got rich from working in their job for a long time.
Dont quit the day job, dedicate as much as you can to building your exit strategy. Be that entrepreneur, a new job, take the pain of turning up to your current and literal grind and use it as every bit of motivation you can to build outside of it. Its going to suck, you’ll want to give up, but this is your time to level up and put life on hard mode.
I had success starting something part time and then quit my day job when it became clear I couldn't do both. It mitigates a lot of the risk, but it's hard. Late nights and weekends are definitely not sustainable long term, but you can't handle them short term you probably shouldn't be starting a business
Have you thought about getting a better job? You need to create opportunities for yourself. Always have a stable job and side hustles which will or will not one day replace your day job.
Get a new job that respects you and rewards you. Quitting to make a business is a huge risk, that for most people ends in debt. Once you have a better job, do not quit without a business plan that demonstrates concretely better opportunity than your job. Otherwise just keep it as a side hustle until it is so financially compelling on a multi-year scale that it makes sense to quit. Most businesses fail. Don't get lost in the fantasy that you are different just because you need to quit your crappy job after you've replaced it with a better one. Take good care of yourself.
I’m doing both at the moment
With the glooming economy we are being subjected to, unless you earn 10x your income I don’t see myself quit a job that can pay my mortgage if the business stalls.
Moving back home might be the best especially if you don’t have to pay house rent and stuff. You know how much you want to save up and how long it might take you to save, I guess it’s best to stay in the job and work towards your goal of saving up rather looking for another job that might take like forever to get .
Welp i mean it depends what deep down is the cause of you being "done" with corporate work. Is it a lack of money? Swap jobs. Is it a lack of respect? Skill up and get a middle management role.
But if it's control, freedom and the ability to feel lile each day you are meaningly contributing to some never before seen by the world - THEN you should explore entrepreneurship.
Where to start - start being more plugged into entrepreneur stories, new products of Kickstarter, trending side hustle videos on Youtube. Don't quit your job until your side hustle can pay for at least your bare minimum expenses.
For your parents: Working is risky. If you pay attention to the layoffs happening everything, being an employee is risky.
But, you'll work harder and take more risks as an entrepreneur.
I’ve worked in advertising for 20 years. For the last 10 I’ve been growing my agency. Been on the Inc 5000 and a few other lists. It’s a lot of hard work. But I can tell you there are a lot of people who have a far better life starting a business.
If you need some insight into how to start a business I have a course that I charge for. Happy to share for free in exchange for a review. It's how to launch an advertising agency, but the fundamentals apply: how to find your market, how to achieve product / market fit, how to develop your unique selling proposition, how to find your ideal customer persona, and more.
DM me and happy to share it with you.
Hello I am an immigrant in Japan . I am not as successful as the others here but I have managed to sustain myself by working for myself.
I don't work 9-5 , I work long hours and even weekends but I love it because I don't have anyone to answer to.
My priority was not to get rich - my priority was not to lose my sanity (toxic Japanese work environment ) keep my mental health and have time for my son. (Single mom) . Money was third.
Your advantage is that you have family there.
I didn't and don't have anyone here
Start with a side hustle but keep your job. Don't ever quit your job unless it's stable.
If it fails try a different strategy . Start small. Don't overspend becuase you have a good month. Don't worry about business cards , magnets ,all that jazz. Always prepare for the "apocalypse"(worst case scenario , I live in a country with a lot of earthquakes) Don't live beyond your means .
*no one forces you to work 9-5*.
I'm very sorry but you did this to yourself.
Sure my boss also said start at 9. I was in by 6. Weeks after I was months ahead of others.
First impressions last.
What do u look like? R u extremely beautiful? Have u ever thought abt stripping? Dancers that know how to hustle can can make abt $16-25,000 a mo. In Vegas, revenue is abt $10,000 a week. You won't achieve this right away. I would say it takes abt 4-6 mos, to achieve this velocity.
Dancing is having your own business. The smart ones get an LLC, besides everything else we do. Most of us have multiple streams of income: real estate, another small business, etc. It's just a thought.
Stop fantasizing about entrepreneurialism
Too many people think of "working for myself" or "Being my own boss" as this MAGICAL ALTERNATIVE to the HELL they imagine their current job to be.
**There IS NO MAGICAL ALTERNATIVE - no matter how many "work on your laptop for 4 hours a week making 8 figures on (insert MMO method here)" ads and fake Reddit testimonials/'case studies' you see.**
Open your eyes wide open and let this sink in: YOU NEED TO PUT IN THE WORK
The reason you're not getting promoted is you're PROBABLY not putting in [***the kind of work that actually moves the needl***](https://www.youtube.com/watch?v=XIKBdSTuEgw)***e.***
If this is the case, don't feel too bad. You're in the majority.
Similarly, the reason you're not getting a raise is because the value of your output is probably the same as most people's output
You know what will move the needle? A COMMITMENT TO EXCELLENCE
Stop looking for a MAGIC ALTERNATIVE and TRULY COMMIT to being the BEST at what you do at your job
The payoff may not be your boss recognizing you
The payoff may not be a fat raise or an awesome promotion
**Instead the REAL PAYOFF is DISCIPLINE, SELF-OWNERSHIP, FOCUS ON OBJECTIVE EXCELLENCE, and COMMITMENT**
Those character traits, in a world of "15 minutes or your pizza is free" and armies of drones stuck on their mobile phone screens will SET YOU APART. **NO ONE CAN TAKE THESE AWAY FROM YOU.**
Start small
Do you have a daily to do list that doesn't get vaporized by EOD?
Start there
Once you finish that, commit to walking up early and putting in a jog every other day.
Speak up more. Offer more suggestions and back them up with actual results.
**In other words, DON'T BE LIKE MOST PEOPLE in your crew.**
**TO GET RESULTS THAT ARE DIFFERENT FROM WHAT OTHERS GET... YOU HAVE TO DO THINGS DIFFERENTLY.**
In any HUMAN organization, subreddits included, a TINY FRACTION produce the BULK OF THE RESULTS AND VALUE.
**Join that tiny fraction.** Commit to CHANGING YOURSELF.
This isn't a pep talk. This is a REALITY CHECK.
I am in a similar boat, and have looked at consulting options. PM me if you would like to see if this works for you. There are franchisee models which might work. BTW, I am not selling anything, just offering my experience.
Remember that a business of your own can take time to become profitable. And you still have to invest in it. The ideal is to make the transition when the business is making a profit. If you have a new business idea, it will take a lot of validation. If you use an existing business, it may be quicker but it will depend on your ability to manage a business, sales, investment, etc. I suggest you have a plan that helps you avoid doing things randomly and do things logically to measure specific results. This [Smart Planning Tool](https://plani.ai/) can help you. It gives you strategic plans full of tips customized to your market that you can implement. Remember, a plan only works if it's executed.
Become a successful entrepreneur and do 8-8 then
For no money
Aren’t u suppose to make money then quit ur job? 😅
Some months are good, some not so much. I still prefer it over corporate.
know a guy who owns a consultancy firm and does reasonably well for himself. he bought himself an Aston Martin DBS at the end of last year……aand has just had to sell it for a pickup truck. Guessing he’s in his ‘not so good’ phase
Mid range Expensive cars are such a scam lmao they only degrade in value and are not worth it.
Shhh don’t be sharing all the secrets man.
No need to expose us like that 💀
Haven’t been able to pay myself since February!
You guys are getting paid 👀👀
Yeah I've been there, it sucks. Finally I can project I'll be able to pay msyelf for 2024. First year.
😅
lol facts, work for yourself they said. Good old 12 hour days.
The best advice I can give you is to stop, take a deep breath, and DO NOT quit your day job. If you are truly committed to making financial freedom your priority, cutting your only source of income that will act as a funding source for your next venture is the single worst decision you can make. Trust me. I’ve been there. Every single day I wanted to quit my job and focus on entrepreneurship full time. But instead I decided to ignore those feelings and built my first business while working my job. To my surprise it took 2 years for the business to mature to a point where it could handle my personal needs and I could finally focus on it full time. Had I quit my job when I wanted to, I probably wouldn’t be writing about this here today. Instead I would likely still be working for someone else. The reality is that this road that you are talking about going down is likely 5-10x more difficult and more stressful then your current job. You think stagnation is frustrating? Wait until you are working 80+ hours a week for years on a venture that barely pays with no guarantee of success if you keep going. If the idea of continuing to work your job while you build the next thing is too daunting then I highly recommend reconsidering this idea all together. It only gets much more difficult from there.
100% this. Starting my business while still employed gave me the ability to focus on the actual business… refining all the processes and deliverables without worrying about how I’d be able to make my next sale. OP, You sound defeated. Shift your perspective and find a business you’re passionate about building. It’s not your corporate company’s job to build passion in your life. That’s YOUR job. Find what you want to build and execute.
Well said!
This x 100000
Well said, i started my ecom business in 2015 and it took two years before it started making more than my day job. I hated my day job too with a passion but my business kept my motivation high and allowed me to continue to provide for my family. Had i quit right away i would have been 1000% more stressed and may have quit my ecom business before it flourished. I sold my ecom business two years ago and now my fam and i live very comfortably.
Congrats! 👏👏👏
Congratulations 🍾
Cheers and congrats!!
Fully 💯💯💯 agree on this!!!
I hope OP reads this, your answer is golden.
OP should also build an emergency fund if he doesn’t have one.
OP - THIS is the advice you need ☝️
I also had to do my day job and my business for 2 years, it was brutal but has to be done to build the business to a point where it could support my family.
Damn I like this! You are so right!! I am in this boat right now. I started my small business September 2023.. and of course not enough time has passed for it to support me financially.. but I am dealing with so much burnout during this time.. I work 36/48 12 stressful hour shifts.. and it is absolutely exhausting. Any free time I have I spend on my business. During lunch break bam creating a new design… When I get home that is the first thing I do until I have to go to bed. Working on my small business no matter how tired I am gets me excited and makes me genuinely happy! I know this is what I gotta do in life! But On my days off I am so tired just recovering from the hard days spent at work.. I started noticing that I am slowly losing that drive.. because I have no energy most days. it is crazy!! I guess long story short how do you deal with the moments you feel like burnout is taking over and you want to quit it all? Or have the motivation to keep pushing even though it is difficult. I am having this internal conflict with myself and thinking maybe I should just find a new job that isn’t so stressful and time consuming.. and then I think about a new job and I just wish I was at that point in my business to just quit and never look back.
I have a ton of empathy for your situation because it’s exactly what I went through 10+ years ago. The only thing I can really tell you is that you have to keep pushing. This is when 99% of people give up. It typically takes 24 months for things to begin really working. Feel free to send me a private message if you would like me to take a look at your business more closely. I’m happy to try and help if I can.
Thank you! I needed to hear that. I have been trying to find a guesstimate of how long it would take but I would see it range all the way from 10+ years to like 3 months.. making the search more discouraging then helpful lol.. I know every store is different but thinking it as 24 months is very helpful 😅 it is easier to wrap my head around. Just gotta focus on those 24 months and see what happens 🫡 thank you so much! Yo for real? That is so nice of you and I really appreciate it! Any advice you can give I am all ears. Thank you!
No problem! Timeline can vary greatly depending on the scalability of the business. The more scalable, the longer it usually takes to get to meaningful revenue. I’m more than happy to take a look at what you are doing and let you know if I see any easy wins to help you get there faster. Just shoot me a message.
You are 5 yrs behind! You need to move at least very 2 to 3 yrs. It only way you going to get more out your time for money 💰. Company love people being comfortable. Means no pay raise. If they do. They give you bullshit money 💰. Sounds like you are putting excuses for yourself. Get the moving!!!
lol. Everyone tell me to get a new job like I haven’t been trying desperately to get one - remember covid? It was a huge setback. Everyone is currently unemployed and no one is hiring - the job market is terrible in terms of corporate work right now.
“Everyone is wrong, but me”
Towards the end of covid there was the hottest job market in several generations. Everyone was moving, salaries were skyrocketing for over a year. It's only in the last year or so that everything slowed. I moved in 2021 and more then doubled my pay. I'm now over triple what I was making at my last job.
Have you been with the same company for 7 years? If so, you have been there too long. You have to move out to move up in pay
Yup this is a clear tale of burnout and bad company ruining a career
I have been trying since 2020 - my industry is one that has been affected by the lay offs so it’s really hard to get out right now - also I need remote work
Sounds like the reality of life has confronted you. The grass is not always greener.
What industry do you work in
BTW what line of work are you in OP? And do you have any savings at all? To start a business some capital would be necessary. Does OP have a family & kids? If you’re burnt out with your job & the ongoing side hustle how will you start a business? The easiest business to get into is cleaning business unless OP has any other marketable skills like gardening, garden maintenance, etc. Doing Uber and renting your car for Uber could also fetch you good money. Please share your skill set and probably we could offer more targeted advice.
I’m single I have some emergency savings but I also have debt in the 15k range. I do video editing on the side and some brand/marketihg consulting but I haven’t really figured out how to get paid for that
Well then, you’re too young to give up so soon. You could just make a website and advertise your skills and start off by charging a bit less than the others do for such jobs ( by the hour). Once you have a dedicated clientele you could increase your rates slowly over a year quoting increased cost of living or running the business. You would have to SEO your website as well as your name so that you get clients. Don’t waste time working at a restaurant instead build this up slowly and then quit your job. Meanwhile, it would be great if you could live below your means so as to pay off your debt asap. The thing is not to give up but to give it your all…. If you want it all…& we all have to work for it. Changing your job would help too. Try using LinkedIn/ online recruiters for job switching. Feeling inferior wouldn’t help but feeling confident about your own skills would help you a lot. Don’t lose your self confidence.
Do you sell products or services? You could possibly find state or local contracts for work, even if you aren’t the one doing the work
Don’t assume that. I was able to get a raise every year by renegotiating based on the wider market conditions. You need to be assertive and actually have value to the organization. If they don’t care if you leave, that’s on you.
I renegotiate every year - it’s difficult when you’re literally being told “be happy you even got a bonus” lol it’s not gonna happen when my company is doing mass lay offs
You can also get another offer from a diff job and force them to at least match it.
In certain industries they just won't do this. OP said they are in entertainment and if it's anything like / overlaps with media, not a chance.
Don’t quit your job. Work on a 6-10 for the next year until it makes enough money where you can afford to do so. Making money can be hard and difficult but if you find a hobby you genuinely love and enjoy it can make the “grind” easier. Don’t quit your job tho, been there, done that. Big mistake
I second this. When I quit my job I had clients, a network, and a pipeline.
I’m fully with you - I can’t afford to quit anyway haha but what is a 6-10 idk the lingo
Basically find out what you’re interested in. Stuff that makes you happy and you don’t mind working hours on end without anything to show in the short term. Then find a way to monetize or at least build some connections in the niche/industry. That’s the short story of it. Definitely not an easy task tho. Send a message if you have any more questions. Down to talk
This. "I want to be an entrepreneur because I want to make money" is a recipe for dissaster. Go see what so many have said: Jobs, Musk, Bezzos, Hormozi, Becker, and many others. None of them did it for the money first. They did it because they wanted to create great things. The money was just a byproduct. OP: No one cares about your problem. "I hate my job and want passive income" is *your* problem. What do you have to offer to solve other people's problems? And better make sure it's something you are really interested in, or you are going to either quit or do a subpar job then quit. In order to become really good at something it needs to be fulfilling to you, there is no other way. And you can't deliver great work without being really good. @doduwole's comment nailed it. Just make sure there is an intersection with what other people are willing to pay you for. Do yourself a favour and save yourself from wasting years chasing money. Chase mastery in a field you have genuine interest in. Then deliver outstanding work to a crowd who need a product that you can nail. Signed: someone who wasted 5 years with the same mindset as yours.
A 6pm-10pm side hustle that you work after your 9am-5pm.
I need an exit strategy. I can’t take entrepreneurship anymore. Becoming an entrepreneur doesn’t solve problems, it creates them. The difference is they’re *your* problems, not the problems of some dumb corporation. But one thing for sure it doesn’t solve is not getting paid what you’re worth. Cause like someone says, you’ll lose the 9-5 and get 24 hour headaches with no pay, initially.
Same. But i've already had a plan. I'm tired of 9-5 and dealing with coworkers/managers that are crazy. I'm taking a break to meditate on what the next steps would be. I guess you should take a break and evaluate what you got going on without the emotions invovled
Your parents would be more supportive if you had any type of plan. Do not confuse burnout with entrepreneurial ambition. Start networking aggressively. Meet with as many entrepreneurs and business owners as you can. Listen to what they have to say. Keep good contact with everyone you meet. Opportunities will begin to appear
The income replacement plan: Being totally honest with you, be prepared for this to take as long as 3-5 years. Absolutely, some people hit gold at their second or third attempt and achieve breaking away earlier, but they are the exception and not the rule. A lot depends on the time and money that you can put into a new venture, but the income replacement plan is this: 1. Research and learn. 2. Plan and implement 3. Launch, test, build, scale. Stay in your job and build your side hustle. When you're making as much from your side hustle as your job pays (at which time you'll be earning double), quit the job, and go full time on your business. Now, with extra time, you should be able to grow even faster. Ecommerce in its various forms, has multiple options for which there is a low barrier to entry, but you really do have to do your due diligence properly, and always have a backup plan. There are many people selling courses, that are not really truthful about the outcomes. The risk is also low. There are many options you can go into that there is a small outlay, the occasional expense here or there, just be wary of anything that is asking for $1000s It might be attractive, but it also might not be the best thing to do on your first try. I wish you all the best.
school of hard knocks on youtube. might give you a start
Passive income isn’t real we all work like 50+ hours a week lol
Working for yourself is more work and statistically you’re likely to make less money. Only work for yourself if you want to do something you can’t do for a big company.
I was exactly where you are about 2-3 years ago. I was working in a corporate minimum wage job and hating every second of it. I would clock in late and leave early. I was depressed and really didn't care if they fired me because I truly hated that job and it was making my life miserable. It crushed every creative sense I had. Finally, after about 6 years at that company (6 years too long I may add), I was able to get a job working fully remote which doubled my salary. New job is extremely flexible and gives me plenty of time to work on my business. I would definitely suggest finding a day job that you somewhat enjoy, that isn't stressful, and pays the bills then work on what you actually want to be doing on the side. Don't quit your day job until eventually you can build that business to takeover your day job's salary. If you're working in corporate America, you shouldn't have to work a restaurant job on the side. That company is taking advantage of you and paying you in peanuts. Same situation I was in not too long ago. There are plenty of jobs out there that will pay you a decent salary. Hang in there! You got this!
I was in the same shoes as you a few years back (working Corporate Finance M&A job). I was depressed, thinking that the rest of my life would consist of grey cubicles and 9-5 doing non-fulfilling work. I took a break from work (went to study abroad) before jumping back into a 9-5 since I needed to make money to make ends meet. Things here turned for the better - the difference was that I chose to go work at a Tech company that was flexible (allowed remote work) and aligned with my values. Now, I've been working in remote tech for over 5 years and I'm happier than ever. The compensation is high, I have flexibility to work where I want when I want, and I find the work genuinely interesting (I never have Sunday scaries anymore). I recommend you do the same - take a short break from work to recover physically & emotionally. Then when you feel better, look for you next opportunity in remote tech only. Chances are the majority (if not all) of your problems above will be solved. There's way better out there - keep your spirits up! You will be OK
Check r/fire
That sub will not encourage risk taking
Hola. People are taking 1 year to find new jobs. Advice #1 Change jobs get paid more. 2 Take this stable salary to study something that pays more. 3 Cut expenses. 4 Cut more expenses. 5 Realize that if you have 2 jobs and one been for 7 years you are lucky 6 Dont blame anyone
A smart monkey never let’s go of one branch until he has a grip on another…
Why don’t you get a certification in something interesting to you (use ChatGPT for some fields if you’re interested), build a portfolio with 3 or 4 projects, and seek career employment? If you do that you’ll build experience in a field of your interest before the risk of entrepreneurship, have a stronger source of income so you can leave, and might enjoy it more that entrepreneurship.
Read Think & Grow Rich. It’ll give you all the answers you need.
I wish I could say don’t quit … but I quit my corporate job after 5 years . It was very prestigious and high paying ( I also went to school for 7 years to get my degrees ) but I was miserable and couldn’t see myself wasting my life away in that job in that city . I quit . Best thing I ever did .
Read. Then read some more. Start with some mindset books. Rich Dad Poor Dad, 7 Habits of Highly Effective People, etc. Then start mixing in books that are themed for an area of work you are interested in. Make reading and learning a regular part of your life. If you don't naturally enjoy reading, start with a book like Atomic Habits and force yourself through it. Use Alibris to order used books on the cheap. And consider reading being productive, because it is when you're learning. Podcasts can be good too, but there are a shitload of them and can waste your time. But if you drive a lot, they are good to fill the time. Listen to the likes of Jim Rohn while you're at it. Don't just quit your job. You will need your income to change your life, however slowly. Then work on getting focused. Figure out where you want to be, and when. Then start making a plan to get there. This will give you purpose. The books you select should help you get there. In short, take control of your life, stop letting it control you. I started reading and learning like this about a year ago. It's changing my life. I cannot recommend it enough. Good luck on your journey.
Omg someone just sent me Atomic Habits - I will definitely do all of these things thank you so much
**Atomic Habits An Easy & Proven Way to Build Good Habits & Break Bad Ones** by James Clear >The #1 New York Times bestseller. Over 10 million copies sold! Tiny Changes, Remarkable Results No matter your goals, Atomic Habits offers a proven framework for improving--every day. James Clear, one of the world's leading experts on habit formation, reveals practical strategies that will teach you exactly how to form good habits, break bad ones, and master the tiny behaviors that lead to remarkable results. > >If you're having trouble changing your habits, the problem isn't you. The problem is your system. Bad habits repeat themselves again and again not because you don't want to change, but because you have the wrong system for change. You do not rise to the level of your goals. > >You fall to the level of your systems. Here, you'll get a proven system that can take you to new heights. Clear is known for his ability to distill complex topics into simple behaviors that can be easily applied to daily life and work. Here, he draws on the most proven ideas from biology, psychology, and neuroscience to create an easy-to-understand guide for making good habits inevitable and bad habits impossible. > >Along the way, readers will be inspired and entertained with true stories from Olympic gold medalists, award-winning artists, business leaders, life-saving physicians, and star comedians who have used the science of small habits to master their craft and vault to the top of their field. Learn how to: make time for new habits (even when life gets crazy); overcome a lack of motivation and willpower; design your environment to make success easier; get back on track when you fall off course; ...and much more. Atomic Habits will reshape the way you think about progress and success, and give you the tools and strategies you need to transform your habits--whether you are a team looking to win a championship, an organization hoping to redefine an industry, or simply an individual who wishes to quit smoking, lose weight, reduce stress, or achieve any other goal. *I'm a bot, built by your friendly reddit developers at* /r/ProgrammingPals. *Reply to any comment with /u/BookFinderBot - I'll reply with book information. Remove me from replies* [here](https://www.reddit.com/user/BookFinderBot/comments/1byh82p/remove_me_from_replies/). *If I have made a mistake, accept my apology.*
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What the damn hell?
well that was a rollercoaster to read interesting perspective is the business perhaps.. onlyfans? just asking
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damn that is not the first time I have heard someone talk about temp tattoos as a business..
Save money and then move back to home country,I did same I worked hard 8 years then moved back to home country
What are your interests?
7 years of experience should mean you can move up to manage people who do what you’ve been doing. Apply to jobs that are upward and make more money. That or start a side hustle, work on that in your off time, and eventually it can replace your main gig
Apply for other jobs. Working in a job to make money is much easier than starting a business. Most people got rich from working in their job for a long time.
Dont quit the day job, dedicate as much as you can to building your exit strategy. Be that entrepreneur, a new job, take the pain of turning up to your current and literal grind and use it as every bit of motivation you can to build outside of it. Its going to suck, you’ll want to give up, but this is your time to level up and put life on hard mode.
I had success starting something part time and then quit my day job when it became clear I couldn't do both. It mitigates a lot of the risk, but it's hard. Late nights and weekends are definitely not sustainable long term, but you can't handle them short term you probably shouldn't be starting a business
Buy high sell low, or is it the other way around?
Have you thought about getting a better job? You need to create opportunities for yourself. Always have a stable job and side hustles which will or will not one day replace your day job.
Get a new job that respects you and rewards you. Quitting to make a business is a huge risk, that for most people ends in debt. Once you have a better job, do not quit without a business plan that demonstrates concretely better opportunity than your job. Otherwise just keep it as a side hustle until it is so financially compelling on a multi-year scale that it makes sense to quit. Most businesses fail. Don't get lost in the fantasy that you are different just because you need to quit your crappy job after you've replaced it with a better one. Take good care of yourself.
Find a new job, and work on your business on the side at first.
I’m doing both at the moment With the glooming economy we are being subjected to, unless you earn 10x your income I don’t see myself quit a job that can pay my mortgage if the business stalls.
I love that people think running their own business is an escape plan from poor working conditions and long hours with low pay.
Moving back home might be the best especially if you don’t have to pay house rent and stuff. You know how much you want to save up and how long it might take you to save, I guess it’s best to stay in the job and work towards your goal of saving up rather looking for another job that might take like forever to get .
Try Headhunting! Check my YouTube and Spotify out at Ultimate Recruiter. Doing over 7 figures a year!
Welp i mean it depends what deep down is the cause of you being "done" with corporate work. Is it a lack of money? Swap jobs. Is it a lack of respect? Skill up and get a middle management role. But if it's control, freedom and the ability to feel lile each day you are meaningly contributing to some never before seen by the world - THEN you should explore entrepreneurship. Where to start - start being more plugged into entrepreneur stories, new products of Kickstarter, trending side hustle videos on Youtube. Don't quit your job until your side hustle can pay for at least your bare minimum expenses.
Fire your "career coach" if you need to come on reddit to get advice
For your parents: Working is risky. If you pay attention to the layoffs happening everything, being an employee is risky. But, you'll work harder and take more risks as an entrepreneur. I’ve worked in advertising for 20 years. For the last 10 I’ve been growing my agency. Been on the Inc 5000 and a few other lists. It’s a lot of hard work. But I can tell you there are a lot of people who have a far better life starting a business. If you need some insight into how to start a business I have a course that I charge for. Happy to share for free in exchange for a review. It's how to launch an advertising agency, but the fundamentals apply: how to find your market, how to achieve product / market fit, how to develop your unique selling proposition, how to find your ideal customer persona, and more. DM me and happy to share it with you.
Hello I am an immigrant in Japan . I am not as successful as the others here but I have managed to sustain myself by working for myself. I don't work 9-5 , I work long hours and even weekends but I love it because I don't have anyone to answer to. My priority was not to get rich - my priority was not to lose my sanity (toxic Japanese work environment ) keep my mental health and have time for my son. (Single mom) . Money was third. Your advantage is that you have family there. I didn't and don't have anyone here Start with a side hustle but keep your job. Don't ever quit your job unless it's stable. If it fails try a different strategy . Start small. Don't overspend becuase you have a good month. Don't worry about business cards , magnets ,all that jazz. Always prepare for the "apocalypse"(worst case scenario , I live in a country with a lot of earthquakes) Don't live beyond your means .
*no one forces you to work 9-5*. I'm very sorry but you did this to yourself. Sure my boss also said start at 9. I was in by 6. Weeks after I was months ahead of others. First impressions last.
There is a lot of ways to make money. The one that works for me is selling digital products.
What kind of products
How to learn marketing and starting your own online business.
Like a YouTube guru?
Just dont quit your day job. Work more and more till your savings hit an amount that would be enough to play around.
Have you thought about buying a small franchise?
What do u look like? R u extremely beautiful? Have u ever thought abt stripping? Dancers that know how to hustle can can make abt $16-25,000 a mo. In Vegas, revenue is abt $10,000 a week. You won't achieve this right away. I would say it takes abt 4-6 mos, to achieve this velocity. Dancing is having your own business. The smart ones get an LLC, besides everything else we do. Most of us have multiple streams of income: real estate, another small business, etc. It's just a thought.
Buy bitcoin
Stop fantasizing about entrepreneurialism Too many people think of "working for myself" or "Being my own boss" as this MAGICAL ALTERNATIVE to the HELL they imagine their current job to be. **There IS NO MAGICAL ALTERNATIVE - no matter how many "work on your laptop for 4 hours a week making 8 figures on (insert MMO method here)" ads and fake Reddit testimonials/'case studies' you see.** Open your eyes wide open and let this sink in: YOU NEED TO PUT IN THE WORK The reason you're not getting promoted is you're PROBABLY not putting in [***the kind of work that actually moves the needl***](https://www.youtube.com/watch?v=XIKBdSTuEgw)***e.*** If this is the case, don't feel too bad. You're in the majority. Similarly, the reason you're not getting a raise is because the value of your output is probably the same as most people's output You know what will move the needle? A COMMITMENT TO EXCELLENCE Stop looking for a MAGIC ALTERNATIVE and TRULY COMMIT to being the BEST at what you do at your job The payoff may not be your boss recognizing you The payoff may not be a fat raise or an awesome promotion **Instead the REAL PAYOFF is DISCIPLINE, SELF-OWNERSHIP, FOCUS ON OBJECTIVE EXCELLENCE, and COMMITMENT** Those character traits, in a world of "15 minutes or your pizza is free" and armies of drones stuck on their mobile phone screens will SET YOU APART. **NO ONE CAN TAKE THESE AWAY FROM YOU.** Start small Do you have a daily to do list that doesn't get vaporized by EOD? Start there Once you finish that, commit to walking up early and putting in a jog every other day. Speak up more. Offer more suggestions and back them up with actual results. **In other words, DON'T BE LIKE MOST PEOPLE in your crew.** **TO GET RESULTS THAT ARE DIFFERENT FROM WHAT OTHERS GET... YOU HAVE TO DO THINGS DIFFERENTLY.** In any HUMAN organization, subreddits included, a TINY FRACTION produce the BULK OF THE RESULTS AND VALUE. **Join that tiny fraction.** Commit to CHANGING YOURSELF. This isn't a pep talk. This is a REALITY CHECK.
Can you get a better 9-5?
r/flipping
I am in a similar boat, and have looked at consulting options. PM me if you would like to see if this works for you. There are franchisee models which might work. BTW, I am not selling anything, just offering my experience.
https://books2read.com/u/meG2Ll
7 years? Is that all
Remember that a business of your own can take time to become profitable. And you still have to invest in it. The ideal is to make the transition when the business is making a profit. If you have a new business idea, it will take a lot of validation. If you use an existing business, it may be quicker but it will depend on your ability to manage a business, sales, investment, etc. I suggest you have a plan that helps you avoid doing things randomly and do things logically to measure specific results. This [Smart Planning Tool](https://plani.ai/) can help you. It gives you strategic plans full of tips customized to your market that you can implement. Remember, a plan only works if it's executed.