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I've been in the slow lane for the past 10 years and loved it. It's worked out well for me. Over the past 10 years, I've accumulated half a million net worth (not counting home equity) and basically haven't had to double think a purchase for years. I live well beneath my means, but have beautiful house in an amazing small town, liked the work I was doing, had a lot of freedom to do what I wanted, traveled the globe, own a Tesla, and have no debt (not counting mortgage).
I thought I was living the dream...and in many ways I was.
But then about a year ago the longtime Managing Partner of the Ad Agency I worked at decided to retire and we had new Managing Partner come on board...and the dream turned into a nightmare. I can't believe that in the space of a year one bad leader could train wreck a company so quickly.
Anyway, a few weeks ago the Managing Partner was going on a diatribe and told me "Advertising isn't hard. Any idiot can start a successful agency."
CHALLENGE ACCEPTED!
I don't know how to explain how out of character this is for me. I actually drive the speed limit in the slow lane. I have no hungering desire to be an entrepreneur. But, I didn't want to work at my agency anymore. The competition in my advertising niche is worse (the type of advertising I specialize in is regulated by the government, so there are only a handful of agencies that can do this type of service). And I KNOW I can do this. This is kind of crazy to say, but I think I have a good shot of dominating the market in 5 years if I play my cards right because the competition is just abysmal.
Anyway, I feel like I've been reborn and am seeing the world through a new set of eyes. But like a newborn, I feel naked and defenseless.
Some things I'd like advise on are:
1. From other people who shifted from the slow lane to the fast lane, what old habits did you find the most difficult to break?
2. I've been trying to read as much as I can on starting a business. Really liked the E-Myth Revisited and the Fastlane, but a lot more detailed books deal with businesses dealing with consumer products, which I won't be. Any advice for resources for businesses starting out that specialize in what is essentially a business to business service. However, there are only about 2,000 potential customers for what I do (note: I just need 1 client to makeup my salary), so stuff emphasizing marketing plans aren't useful to me because it's such a niche.
3. I've been told peer groups are helpful, but a lot of the groups I've looked into just seem so consumer facing that they wouldn't be helpful.
4. How do I not become a bad person? I've been shocked at how different I've started looking at people working 9-5 jobs and how different other business owners are acting around me. Any advice on staying grounded?
I thought I was living the dream...and in many ways I was.
But then about a year ago the longtime Managing Partner of the Ad Agency I worked at decided to retire and we had new Managing Partner come on board...and the dream turned into a nightmare. I can't believe that in the space of a year one bad leader could train wreck a company so quickly.
Anyway, a few weeks ago the Managing Partner was going on a diatribe and told me "Advertising isn't hard. Any idiot can start a successful agency."
CHALLENGE ACCEPTED!
I don't know how to explain how out of character this is for me. I actually drive the speed limit in the slow lane. I have no hungering desire to be an entrepreneur. But, I didn't want to work at my agency anymore. The competition in my advertising niche is worse (the type of advertising I specialize in is regulated by the government, so there are only a handful of agencies that can do this type of service). And I KNOW I can do this. This is kind of crazy to say, but I think I have a good shot of dominating the market in 5 years if I play my cards right because the competition is just abysmal.
Anyway, I feel like I've been reborn and am seeing the world through a new set of eyes. But like a newborn, I feel naked and defenseless.
Some things I'd like advise on are:
1. From other people who shifted from the slow lane to the fast lane, what old habits did you find the most difficult to break?
2. I've been trying to read as much as I can on starting a business. Really liked the E-Myth Revisited and the Fastlane, but a lot more detailed books deal with businesses dealing with consumer products, which I won't be. Any advice for resources for businesses starting out that specialize in what is essentially a business to business service. However, there are only about 2,000 potential customers for what I do (note: I just need 1 client to makeup my salary), so stuff emphasizing marketing plans aren't useful to me because it's such a niche.
3. I've been told peer groups are helpful, but a lot of the groups I've looked into just seem so consumer facing that they wouldn't be helpful.
4. How do I not become a bad person? I've been shocked at how different I've started looking at people working 9-5 jobs and how different other business owners are acting around me. Any advice on staying grounded?
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