Quit my job? NOW?

[phillihoch]

Hey there,

I finally finished reading Millionaire Fastlane . Right after reading the book, some thoughts came to my mind:

1. Do I have to quit my job now? Like right now?
2. Even without any objective what to do as my Fastlane business?
3. Is that a dumb idea?
4. Should I maybe reduce my work hours first and try business as a sidehustle?

I cannot find answers to these questions and I did not find any threads on this forum about this topic. That's why I'm writing this blog post. Maybe someone was at the same point sometime in his or her life.

Here is some information about my circumstances:

• my fulltime job (40h/week) pays me about 2500€/month
• If I liquidate my ETF funds and crypto investments I would have about 20K on my bank account
• I could live for about one year without earning one single euro
• I am able to code and create web applications

What would you recommend me to do in my current situation? In my opinion I have these options:

1. Quit completely and focus on starting a fastlane business
2. Reduce working hours to start a fastlane business parallel to my fulltime job until it pays enought to finance my living expenses and then quit

Thank you in advance for the good advice

 

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[Bekit]

This has been asked countless times. 13 pages of results. I suggest you check them out.


I can't tell if you're just trolling with these questions, but if these questions are genuine, you might need to re-read the book.

1. Do I have to quit my job now? Like right now?
   1. No.
2. Even without any objective what to do as my Fastlane business?
   1. Don't quit your job.
3. Is that a dumb idea?
   1. Yes
4. Should I maybe reduce my work hours first and try business as a sidehustle?
   1. That could work.

Make a plan. Execute on something that has a fighting chance of working.

 

[Choate]

There's a really simple answer to this.

If you can't get started and make progress while you are working a job, you aren't going to be any better if you quit.

In fact, you might be even better off while you have a job because it places that additional time constraint on you - only so many hours in a day, you've got dreams unlocked, are you going to work towards them or continue to F*ck around in your free time?

How many hours per day do you burn in your job? How many minutes or seconds can you put in towards your own hustle?

 

[phillihoch]

How many hours per day do you burn in your job? How many minutes or seconds can you put in towards your own hustle?

I burn 8 hours a day in my Job. I am doing Sports and have a girlfriend which I want to take time for during the week.

I would say I could bring up at least one hour every day to work towards my own hustle. But I think that is too little. Not because I am not making progress in 1h/day, but because I am willing to put more hours into it, but that does not work with my 8h fulltime job.

I am literally sitting at my desk at my full time job and thinking "I do not want to do this right now. I want to hustle for my own thing".

 

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[Jon822]

Honestly, if you can't figure out the answer to this question on your own you should just stick with a job. A major part of being an entrepreneur is taking the initiative to figure things out. This is a very basic question with an obvious answer. Reread the book and really look to understand the concepts or accept that you don't have what it takes to be an entrepreneur in your current state.

 

[phillihoch]

Honestly, if you can't figure out the answer to this question on your own you should just stick with a job. A major part of being an entrepreneur is taking the initiative to figure things out. This is a very basic question with an obvious answer. Reread the book and really look to understand the concepts or accept that you don't have what it takes to be an entrepreneur in your current state.

You're absolutely right—I've found the answer. After revisiting my notes from the book, it's now clear to me.

I plan to reduce my working hours at my full-time job, allowing me to dedicate 1-2 hours each day exclusively to developing my business.

I already have an idea for a SaaS product I could create. I'm determined to escape the "Someday" trap. Since ideas represent only potential speed, I will focus equally on execution. My initial strategy is to validate my idea by securing a few customers before the product even exists. If this approach succeeds, fantastic, I can start building the actual product; if not, I'll need to explore other needs that I can fulfill.

I've noticed that you are a highly respected and valuable contributor to this forum. As I'm just beginning, I would greatly appreciate your thoughts on my insights and plans.

 

[Jon822]

I've noticed that you are a highly respected and valuable contributor to this forum. As I'm just beginning, I would greatly appreciate your thoughts on my insights and plans.

I think you forgot to include a quote from someone else before this

Your plan sounds solid. The more you can adapt before you've committed any time or financial investment, the better. Good luck! Hating your job can be an excellent motivator to make your business succeed instead of hoping it does.

 

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[Choate]

I plan to reduce my working hours at my full-time job, allowing me to dedicate 1-2 hours each day exclusively to developing my business.

I don't like this. Pressure creates results. Constraints are king. You not at a point in your life where things are going to break because you put in 1-2 hours per day on a side business. So why are you quitting your main job?

What if you kept the extra hours and funneled the additional money into outsourcing, hiring a VA, etc so that your business ideas can keep moving forward even when you're at work? You could keep your job but get 50 hours/week focused on your business by hiring 1-2 more people with the extra money.

You could also just keep the job, spend a half hour in the morning on your business, a half hour at lunch, and a half hour at night. An hour each Saturday and Sunday and you've got yourself 10 hours/week.

You want to brainstorm a name for a new business? Give yourself 60 seconds, come up with as many names as possible. You will find something there that works in the same or better than if you gave yourself 60 minutes. The same principal applies here.

But instead you've got crypto investments and are thinking about how you could live for a year without working.

 

[Andy Black]

I'm curious. Have you helped someone yet? Have you got paid doing so yet?

I already have an idea

IDEA - Stop With The Ideas

One of my biggest red flags is the word "idea". Especially when it's an "idea for an app". Especially when you say you "can't reach an audience to test it". Especially when it'll take a minimum of 6 months to "go live". Having ideas suggests you're in your head theorising, rather than out...

www.thefastlaneforum.com

for a SaaS product I could create.

HOT! - MINDSET - Stop Building Stuff

Stop Building Stuff (Originally posted here and then here.) I worked for a company that was building a content creation platform. I worked for a startup that was building a new social network. I worked for another company that was building a call centre. I've had many many clients that were...

www.thefastlaneforum.com

 

[phillihoch]

I'm curious. Have you helped someone yet? Have you got paid doing so yet?

So i've read these two high value threads.

I want to help people managing their sports tournament with a software. I already called operators of tournaments to see if there is need for better solutions. And the first results show, yes, there is a need for better software in this field. And I am convinced I can do it better than the current software providers.

To answer your questions: No, I did not help someone, but i have proof I can help someone with that software. And I did not get paid, but I will be when the software exists because I have proof that there is a need for better solutions.

My question is: How should I help people right now without building the actual software? Feels like a chicken egg problem to me.

 

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[Andy Black]

So i've read these two high value threads.

I want to help people managing their sports tournament with a software. I already called operators of tournaments to see if there is need for better solutions. And the first results show, yes, there is a need for better software in this field. And I am convinced I can do it better than the current software providers.

To answer your questions: No, I did not help someone, but i have proof I can help someone with that software. And I did not get paid, but I will be when the software exists because I have proof that there is a need for better solutions.

My question is: How should I help people right now without building the actual software? Feels like a chicken egg problem to me.

Good for you having already called people. Many people just have an idea and haven't acted on it.

Is there something similar but simpler you can build that the same market will use?

Can you create a simple web calculator or tool that tournament operators would use, love, and share?

Are there communities of your target market? Are you known in those communities?

 

[Kevin88660]

Hey there,

I finally finished reading Millionaire Fastlane . Right after reading the book, some thoughts came to my mind:

1. Do I have to quit my job now? Like right now?
2. Even without any objective what to do as my Fastlane business?
3. Is that a dumb idea?
4. Should I maybe reduce my work hours first and try business as a sidehustle?

I cannot find answers to these questions and I did not find any threads on this forum about this topic. That's why I'm writing this blog post. Maybe someone was at the same point sometime in his or her life.

Here is some information about my circumstances:

• my fulltime job (40h/week) pays me about 2500€/month
• If I liquidate my ETF funds and crypto investments I would have about 20K on my bank account
• I could live for about one year without earning one single euro
• I am able to code and create web applications

What would you recommend me to do in my current situation? In my opinion I have these options:

1. Quit completely and focus on starting a fastlane business
2. Reduce working hours to start a fastlane business parallel to my fulltime job until it pays enought to finance my living expenses and then quit

Thank you in advance for the good advice

It sounds too early now.

You don’t even have an idea yet.

 

[NervesOfSteel]

• I am able to code and create web applications

This is the skill.

What would you recommend me to do in my current situation? In my opinion I have these options:

1. Quit completely and focus on starting a fastlane business
2. Reduce working hours to start a fastlane business parallel to my fulltime job until it pays enought to finance my living expenses and then quit

Thank you in advance for the good advice

You work 40 hrs/week. That 5.7 something hours a day.
If you sleep 6 hrs a day, you're left with 12 hrs daily on an average.

This is luxury. Work 10hrs a day on ur business idea.
Make a MVP.
Sell it.
Use feedback.
Improve MVP
Push sales

Sleep, work, execute, repeat!
Everyday!
Sunday should be your toughest day.

Make it work, like your F*cking existence depends on it.

In my humblest opinion, there's no other way!

 

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