“Time is a created thing. To say ‘I don’t have time,’ is like saying, ‘I don’t want to.” Lao Tzu
If you’re like a lot of people who read my blog, then you’re working a job while you’re still getting your business up and running and you find your time flies!
Normally aspiring entrepreneurs talk about their job as if they are the worst thing in the world – a complete inconvenience where they get underpaid, overworked, their boss is greedy and taking home all the rewards.
Rarely do you hear them be grateful for their jobs.
I disagree, having been on both sides… there’s a lot of good things you get with a job, which you won’t get with having your own business.
For most people they ought to be thankful for their job, and thankful they don’t need to make a living by producing value in their own business (because they’d be eaten alive).
I’ve watched many people over the years who’ve worked with me, secretly disparage their role and talk about how much their job sucked. They’d complain they were not paid enough, made to work way too hard for too many hours, and talk about the day they were going to leave it all behind.
Finally they’d work up the courage to quit, show their resentment for the job in how they resigned (very short notice, with no thanks given), then proudly proclaim to everyone on Facebook that today was day they were free – today was the day they had ‘fired their boss’ and were going start a business to make their millions.
A few weeks later, you’d see them quietly getting a new job.
So before you quit your job and tell your boss to go to hell, think about this.
First, most people quit their day job because of the time excuse; they feel they don’t have enough time to work on their business.
I don’t really agree with this. There’s always time, and truly resourceful entrepreneurs always find it.
We all have 24 hours in the day – whether you’re Warren Buffet or a homeless beggar. It’s about priorities. In order to start a business, you’ve got to move that business into one of your top three priority slots. The closer it is to THE most important thing in your life, the better you will usually do.
You should always be looking for opportunities during the day to accomplish useful work for your business.
For example; some people spend an hour commuting to work, then another hour getting home. There are two hours right there that you could use to accomplish something – like doing a sales call or making a video or audio clip for your website in your car. Or doing prospecting calls to get JV partners.
Or even hosting a webinar. Quick story from Matt Lloyd; one of the highest paid (and chaotic) affiliate marketers he knows landed in Sydney to speak at one of his events. His plane was late, so he had to start the webinar in the taxi from the airport using the driver’s phone as a hotspot… and then when he gets to his hotel, he has a guest on the call give a testimonial while he checks in, then goes up to his room and finishes the webinar, selling a whole bunch of product.
The attitude you need to have is, “if I HAD to get this done given the time I currently have available, how would I do it?” If there’s no choice but to get it done, amazingly somehow you’ll always find the time.
Here’s a quote from one of my fellow business coaches Glenn.
On 27/4/18, at 11:52 am, ⭐ Glenn Bolton MOBE Coach ⭐ wrote:
> What is “Spare Time”?
> We don’t even “Make Time”
> We “Spend Time” on things we value.
> Or is someone else “Stealing Time” from us?
> We all have the “Same Time”. 24 hours. per. day.
> It’s what we do with “Our Time” that makes the all the difference.
> Make use of “Your Time” like is the most valuable asset in the universe.
> Otherwise you will always “Run Out Of Time” and never achieve your dreams.
You can’t use your job as the scapegoat excuse of “I don’t have the time” or “time flies” anymore. Find a way to get a few extra hours out of the day for revenue producing activity in your business.
Which brings me to my next point…
Get some sales coming in and replace part of your job income, before you go and hand in your resignation.
It’s plain stupid to go quit a job and start a business when you haven’t even demonstrated to yourself you can get even a few customers.
Prove the concept to yourself first, by seeing whether people will actually pay you money for your idea. Forget about the compliments people give you about your product idea, or their stated intentions towards buying it – all that matters is, has anyone actually handed you cash for it yet?
If not, you need to keep making adjustments.
It’s a good idea to wait till your business is almost matching the salary from your job, before you quit your job. Once you have a couple of good months where your business earned you at least 75 percent of what your regular job did, that’s a pretty good time to jump in with both feet.
The bottom line is this: I wouldn’t advise the average person to quit before making any sales. Prove to yourself that you can do it, then follow through once you have good results and put every ounce of effort into it that you can.
Despite all my advice to you though, I must admit I personally did not follow any of it.
In my case, I quit my job as a Senior Education Officer in TAFE on $85K a year in 2009.
I wanted to have the maximum time I could to focus on placing ads, making phone calls, writing copy, etc – and I also felt the additional pressure would help me.
This method is a bad idea for a lot of people. Only attempt it if you can handle extreme pressure and if you are 100% FULLY committed to being in business for yourself, for the rest of your life. I have had experience starting and running 2 traditional businesses previously.
My excuse for jumping in feet first was the thousands I had lost during the Global Financial Crisis, when Super Funds where I had entrusted my retirement savings were decimated through bad investments! Most Australian retirees are still suffering from the GFC – the Super Funds have never recovered.
Since starting online business, I have had many ups and downs and I’m lucky to have a supportive husband. In the end, it is all working out for me but I still find “time flies” HA.
My point is, doing it this way is not a good idea. You need to decide what is best for you, and your unique way of working.