My wife almost died (literally) and we created this plan. Thoughts?

[Lou7]

Hey!

I am a Customer Success Team Leader at a SaaS company. It's been almost a year since I joined the forum. Here's my current status:

• Salary: It's okay, but I bring in 80% of the income for my wife and me. After expenses, our net revenue is zero.
• Investments: I have stock options and stocks from the company. In 3-4 years, a $1-2 million payout is possible. Worst case, zero, I survive. Best case, $3 million.
• Career Growth: My salary won't increase much if I stay here, and I don't enjoy living in the big city.
• Wife's Career: My wife was a lawyer but hated it. Then, she almost died because of a cerebral thrombosis (classic story of waking up to life after almost dying, right? LOL). Now she wants to start an online popular jewelry business. She's great at sales and content creation (she used to do it as a side hustle). Margins are high and it seems to fit the CENTS model.
• Content Creation: I created customer success content to explore scaling it into a business, but I'm fed up with the theme
• Family Business: My aunt runs a tough agricultural business in my home town. It's profitable but not scalable. Some days, she has to wake up at 3 AM. She will soon retire

I finally feel like I have a plan. Three steps:

1. Stay in the City for One More Year: I'll step back from leadership and start selling to improve my proficiency and earn more. Best case: Double or triple my income. Worst case: I get fired and move back to my hometown.
2. Support My Wife's Jewelry Business during this year: I'll stop creating customer success content and help my wife with her jewelry business, focusing on processes, ads, and web design. We'll visit suppliers in one month. Worst case: Lose $10k. Best case: Build a successful company.
3. Join My Aunt's Business: After a year, I'll work with my aunt while continuing to help my wife's business. If the jewelry business can support us both, I'll focus solely on it.

Based on your experiences, what should I pay attention to?

 

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[Jann]

Hey @Lou7,
Thank you so much for this post! I am incredibly excited for your awakening. It's gonna challenge you immensely but I know that if you keep on turning the gumball machine, you're gonna eventually get something really good!

What I recommend is backwardization. Start dreaming with your wife what kind of life you want to live and backtrack from years to months to weeks, to days. Make it very tangible and real. MJ explains it here: Backwardization. In this year, simply do your best and focus on systems, systems, systems (emotional, physical, spiritual, mental, relational, etc...). The transition will be a lot more smooth.

I'm so sorry to hear that your wife had such a health scare! It makes total sense that you want to make the change. I wonder whether focusing on multiple things on top of spending time with your wife could be overwhelming as well? Know yourself and how much you can handle. People on this forum have cautioned against burnout.

I don't know if you want to work on the farm unless it gives you fulfillment and obeys the law of CENTS. I can understand if the farm can give you some semblance of financial security (idk if you have any dependents/debt/etc...). Ultimately, you don't want to waste your energy on something that isn't going to help you plant/grow/mature your money tree.

All this to say, DO NOT LISTEN TO ME without listening to yourself first. YOU'RE the master of your own ship. Listen to your OWN internal compass. Don't let anyone else tell you what to do.

 

[Lou7]

Hey @Lou7,
Thank you so much for this post! I am incredibly excited for your awakening. It's gonna challenge you immensely but I know that if you keep on turning the gumball machine, you're gonna eventually get something really good!

What I recommend is backwardization. Start dreaming with your wife what kind of life you want to live and backtrack from years to months to weeks, to days. Make it very tangible and real. MJ explains it here: Backwardization. In this year, simply do your best and focus on systems, systems, systems (emotional, physical, spiritual, mental, relational, etc...). The transition will be a lot more smooth.

I'm so sorry to hear that your wife had such a health scare! It makes total sense that you want to make the change. I wonder whether focusing on multiple things on top of spending time with your wife could be overwhelming as well? Know yourself and how much you can handle. People on this forum have cautioned against burnout.

I don't know if you want to work on the farm unless it gives you fulfillment and obeys the law of CENTS. I can understand if the farm can give you some semblance of financial security (idk if you have any dependents/debt/etc...). Ultimately, you don't want to waste your energy on something that isn't going to help you plant/grow/mature your money tree.

All this to say, DO NOT LISTEN TO ME without listening to yourself first. YOU'RE the master of your own ship. Listen to your OWN internal compass. Don't let anyone else tell you what to do.

Thanks!!

Does anyone have business tips regarding these business I’m choosing?