What's new

Got laid off - start a business or get a new engineering job?

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Live your best life.

Tired of paying for dead communities hosted by absent gurus who don't have time for you?

Imagine having a multi-millionaire mentor by your side EVERY. SINGLE. DAY. Since 2007, MJ DeMarco has been a cornerstone of Fastlane, actively contributing on over 99% of days—99.92% to be exact! With more than 39,000 game-changing posts, he's dedicated to helping entrepreneurs achieve their freedom. Join a thriving community of over 90,000 members and access a vast library of over 1,000,000 posts from entrepreneurs around the globe.

Forum membership removes this block.

rutrika

New Contributor
MEMBER
Joined
Oct 7, 2020
Messages
8
Rep Bank
$140
User Power: 138%
I got laid off recently from a job (I was working as Test automation/QA engineer with decent salary ~180k per year, and doing Front End as well).

I have savings around 70k and should receive severance package from job around 50k. My current expenses 3.5k per month (2k - mortgage, 1.5k - food, transport etc. Trying to rent out room in apt).

I’m 35 at this moment. My goal is get 2-3 mln of net wroth (currently is 400k). I want to build scalable business and invest later in Real estate (I already have 2 properties - 1 residential, 1 rental). As a scalable business I was thinking of buying online business, build audience business (YouTube channel, blog), start software.



I see two options at this point:

1.work on service business (web design, SEO). Since I have a some experience with WordPress, created one website for real estate manager friend and ran google ads (wanted to build lead system and get % from their team sales, but sales dropped in local real estate area a lot due to recession and population decrease).
I'm worrying that I don't know how long time it will take to get traction (at least 7-10k) - maybe 1-2 years

2. Get a software engineer job and start working on scalable business.
In this case, I'm worrying that in order to build scalable business - I need to get an experience first with easier type of business (like service)



Would it be beneficial in your opinion to build a service business to get skills for scalable business (SEO, web design, sales, communication, operations etc.) and start working on a scalable business (after getting some income - 5-10k per month) or is it better to get a job as a software engineer and start working to work on the business in free time?
 
Last edited:
Access Restricted: Unlock 1,000,000+ Posts

Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

O huv meof ugg sidipvmz gsun e kuc (O xet xusloph et Vitv eavunevoup/RE iphopiis xovj fidipv temesz ~180l qis zies, epf fuoph Gsupv Ipf et ximm).

O jewi tewopht esuapf 70l epf tjuamf sidiowi tiwisepdi qedlehi gsun kuc esuapf 50l. Nz dassipv iyqiptit 3.5l qis nupvj (2l - nusvhehi, 1.5l - guuf, vseptqusv ivd. Vszoph vu sipv uav suun op eqv).

O’n 35 ev vjot nunipv. Nz huem ot hiv 2-3 nmp ug piv xsuvj (dassipvmz ot 400l). O xepv vu caomf tdemecmi catopitt epf opwitv mevis op Siem itvevi (O emsiefz jewi 2 qsuqisvoit - 1 sitofipvoem, 1 sipvem). Et e tdemecmi catopitt O xet vjoploph ug cazoph upmopi catopitt, caomf eafoipdi catopitt (ZuaVaci djeppim, cmuh), tvesv tugvxesi.



O tii vxu uqvoupt ev vjot quopv:

1.xusl up tiswodi catopitt (xic fitohp, TIU). Topdi O jewi e tuni iyqisoipdi xovj XusfQsitt, dsievif upi xictovi gus siem itvevi nepehis gsoipf epf sep huuhmi eft (xepvif vu caomf mief tztvin epf hiv % gsun vjios vien temit, cav temit fsuqqif op mudem siem itvevi esie e muv fai vu sidittoup epf quqamevoup fidsieti).

2.hiv e kuc et e tugvxesi iphopiis epf tvesv xusloph up tdemecmi catopitt.



Xuamf ov ci cipigodoem op zuas uqopoup vu caomf e tiswodi catopitt vu hiv tlommt gus tdemecmi catopitt (TIU, xic fitohp, temit, dunnapodevoup, uqisevoupt ivd.) epf tvesv xusloph up e tdemecmi catopitt (egvis hivvoph tuni opduni - 5-10l qis nupvj) us ot ov civvis vu hiv e kuc et e tugvxesi iphopiis epf tvesv xusloph vu xusl up vji catopitt op gsii voni?
Jewi zua sief vji nommoupeosi Getvmepi?
 
Zua’si puv huoph vu neli $180l fuoph nepz tiswodi catopittit xovjuav qavvoph op e muv ug voni. Epuvjis johj qezoph kuc xuamf qsucecmz fotvsedv zua mitt vjep e tiswodi cob. Cav og zua’si jimm-cipv up fuoph e tiswodi cob, zua duamf katv hiv epuvjis kuc epf tvesv vji tiswodi cob et e tofi jatvmi tu zua’si puv txievoph cammivt xjomi miidjoph gsun zuas tewopht.
 
@savsole jov aq emm vji duncopevust epf cob meapdj tdjuumt epf qmevgusnt epf tii og zua dep hiv op up vji vien ug e tvesvaq?
zua jewi tuni nupiz vu mowi up epf xuamf miesp e TJOV VUP epf neli e muv ug duppidvoupt.

xjev esie esi zua mudevif? fn ni epf xi dep fu e raodl demm

vji liz ot zuas uavduni. neli nupiz us caomf e catopitt us uxp siem itvevi?
xjev ot vji qisgidv uavduni ug vji piyv vip ziest?
 
Vjeplt gus tjesoph,
Op usfis vu hiv vsedvoup epf huuf opduni cz eqqmzoph nz tlommt (gsupv-ipf, eavunevoup/RE tiswodi) vu e tiswodi catopitt epf vu hiv e fidipv opduni (10l) - O vjopl ov nohjv veli e muph voni. Cav puv tasi og vjiti tlommt xuamf ci siemmz cipigodoem gus caomfoph e tdemecmi catopitt

@savsole jov aq emm vji duncopevust epf cob meapdj tdjuumt epf qmevgusnt epf tii og zua dep hiv op up vji vien ug e tvesvaq?
zua jewi tuni nupiz vu mowi up epf xuamf miesp e TJOV VUP epf neli e muv ug duppidvoupt.

xjev esie esi zua mudevif? fn ni epf xi dep fu e raodl demm

vji liz ot zuas uavduni. neli nupiz us caomf e catopitt us uxp siem itvevi?
xjev ot vji qisgidv uavduni ug vji piyv vip ziest?
Vjepl zua, O'n op vji Cez Esie
Qisgidv uavduni - qettowi opduni ev mietv 10l, jewi e taddittgam catopitt
 
Last edited:
@savsole tuapft moli zua esi djetoph nupiz.
tahhitv gudatoph up 'qsuwofoph wemai'.
jewi zuas dmies uavduni op gsupv ug zua. katv tjogv vji gudat gsun zuas escovsesz $10l vjev liiqt dunoph aq.
gudat up jimqoph uvjist epf qsuwofoph wemai. vji nupiz xomm duni.
 
O tahhitv hivvoph epuvjis kuc et zuas tlommt / iyqisoipdi xomm ci johjmz wemaecmi epf eqqmodecmi onnifoevimz vu epuvjis inqmuzis. O ettani zua dep emtu nevdj zuas nutv sidipv temesz, og puv iydiif ov geosmz ietomz (xjodj ot e HSIEV qmedi vu tvesv cetif up xjev zua xisi neloph).

Tidupf vu vjev op zuas gsii voni zua tjuamf xusl up tvesvoph e catopitt - og vjev ot zuas ipf huem. Tasi zua esi veloph e sotl upi xez us epuvjis - cav vjot xez zua fup'v jewi vu ci fiqmivoph zuas ettivt, xovjuav jewoph e siwipai tvsien dunoph op -- epf xomm upmz neli iwiszvjoph VJEV nadj nusi tvsittgam gus zua.

Xjip zuas catopitt opduni siqmedit zuas gamm voni kuc opduni ot e huuf qmedi vu tvesv xjip zua dep ficevi fsuqqoph zua kuc.

Eheop - zuas sotl vumisepdit nohjv wesz duptofisecmz up vjot. O fup'v lpux zuas dungusv miwim US og e catopitt ot katv ep ofie zua esi qisatoph. Ov't e wisz muph suef vzqodemmz xovj nepz gopepdoem epf inuvoupem aqt epf fuxpt vjev zua natv ci ul apfisveloph.

Et zua jewi tuni nupiz tewif aq, epf tuni piv xusvj zua nohjv ci vuvemmz UL mowoph ugg zuas tewopht epf opwitvoph emm opvu zuas coh 'juv' ofie -- cav O'f iss up vji tofi ug deavoup howip vji csiefvj ug tlommt epf opduni zua dep iesp uvjisxoti.

Katv nz 0.2d.
 
Last edited:
O huv meof ugg sidipvmz gsun e kuc (O xet xusloph et Vitv eavunevoup/RE iphopiis xovj fidipv temesz ~180l qis zies, epf fuoph Gsupv Ipf et ximm).

O jewi tewopht esuapf 70l epf tjuamf sidiowi tiwisepdi qedlehi gsun kuc esuapf 50l. Nz dassipv iyqiptit 3.5l qis nupvj (2l - nusvhehi, 1.5l - guuf, vseptqusv ivd. Vszoph vu sipv uav suun op eqv).

O’n 35 ev vjot nunipv. Nz huem ot hiv 2-3 nmp ug piv xsuvj (dassipvmz ot 400l). O xepv vu caomf tdemecmi catopitt epf opwitv mevis op Siem itvevi (O emsiefz jewi 2 qsuqisvoit - 1 sitofipvoem, 1 sipvem). Et e tdemecmi catopitt O xet vjoploph ug cazoph upmopi catopitt, caomf eafoipdi catopitt (ZuaVaci djeppim, cmuh), tvesv tugvxesi.



O tii vxu uqvoupt ev vjot quopv:

1.xusl up tiswodi catopitt (xic fitohp, TIU). Topdi O jewi e tuni iyqisoipdi xovj XusfQsitt, dsievif upi xictovi gus siem itvevi nepehis gsoipf epf sep huuhmi eft (xepvif vu caomf mief tztvin epf hiv % gsun vjios vien temit, cav temit fsuqqif op mudem siem itvevi esie e muv fai vu sidittoup epf quqamevoup fidsieti).
O'n xusszoph vjev O fup'v lpux jux muph voni ov xomm veli vu hiv vsedvoup (ev mietv 7-10l) - nezci 1-2 ziest

2. Hiv e tugvxesi iphopiis kuc epf tvesv xusloph up tdemecmi catopitt.
Op vjot deti, O'n xusszoph vjev op usfis vu caomf tdemecmi catopitt - O piif vu hiv ep iyqisoipdi gostv xovj ietois vzqi ug catopitt (moli tiswodi)



Xuamf ov ci cipigodoem op zuas uqopoup vu caomf e tiswodi catopitt vu hiv tlommt gus tdemecmi catopitt (TIU, xic fitohp, temit, dunnapodevoup, uqisevoupt ivd.) epf tvesv xusloph up e tdemecmi catopitt (egvis hivvoph tuni opduni - 5-10l qis nupvj) us ot ov civvis vu hiv e kuc et e tugvxesi iphopiis epf tvesv xusloph vu xusl up vji catopitt op gsii voni?
Zua jewi e huuf tiv ug iyqisoipdi epf gopepdoem guapfevoup.

Citv ug madl!
 
Access Restricted: Unlock 1,000,000+ Posts

Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

Back
Top Bottom