Does this ring a bell?
There’s a guy sitting in front of a computer contemplating why he’s so miserable. He works for someone else all day, slaving away at a project he couldn’t possibly care less about, all to advance someone else’s pocketbook.
This is not the way.
In June 2021 I turned down a promotion and a big raise. Instead, I built my own company, a dream I’d had for years. In just my second month on my own, I had made $13,809.06.
Seriously.
Want to know how I did it? Trust me, I’ve made a lot of mistakes in building my own business. But what I did in those first 30 days… I aced.
Here’s the secret that separates the men ($10k months) from the boys (struggling freelancers).
Start 6 months before you have to
Vulnerability time: I did not do this very well.
Here’s a quick summary of my situation in 2021. I was a member of a two-year entrepreneurship development program where I worked full-time for a company (like a normal job) and also got the benefits of a social community of young entrepreneurs outside of work.
At the end of the two-year program, you can either …
- Accept a new job from your company if they offer it
- Or find a new job
I chose neither 🤣 And I started my own company on a dime.
Don’t do this.
Start building your business before you have to. I recommend creating a runway of about 6 months before you quit your job.
So your timeline should look a little like this:
- Determine if entrepreneurship is the right option for you (hint: for many, it’s not)
- Give yourself a “quitting date” 6 months in the future
- Put 6 months of hard work into your own business
- Quit your soul-sucking 9-5 job
- Go all in on your business
Under a microscope: What your 6-month runway should look like
So before you leave your stable, secure job, lay the groundwork for your biz. What does this mean?
For the first 6 months on my own, I did everything under the marketing sun to learn a few things: What I was good at, what I enjoyed doing, what people actually needed, and what they’d be willing to pay money for.
Here’s what I did that worked to make $13k in just 30 days upon launching:
Identify what you’re good at
What do you enjoy doing? How can you turn what you’re good at into a business?
I had spent the last two years turning an archaic consulting business into a digital-first powerhouse in the region.
So I took a lot of the marketing and innovation learnings to the open market and tried to help people with anything they needed on a computer (literally):
- Managing Facebook groups
- Building paid ad campaigns
- Running webinars
And I learned in those 6 months that I’m not good at any of the above 😆 Instead, I’m a writer. That’s where I thrive.
So I doubled down.
Identify what people need
If you have a specific market in mind, figure out what they need in their businesses and personal lives.
- Tech CEOs?
- Local veterinarians?
- Latvian basketball coaches?
Whatever.
This is not rocket science.
- Find a niche you’d like to help.
- And literally ask them what they’re struggling with or what their goals are.
If you can help them get there faster, I guarantee they’ll be willing to pay you.
In my case, I thought hmm… how can I use my writing skills to help business leaders? Ah yes, I can them build an audience with social media content.
Boom!
Identify what’s lucrative
Last step, what are people actually willing to pay for?
This is very different from the last question. Why?
There’s a difference between what people need and what they’re willing to pay big money for.
Do not build a service that people are willing to pay only 25¢ a month for.
I went from trading super generalized “digital marketing services” for $500 per “project” (what does that even mean? 🤣) …
To trading 4 SEO-optimized articles repurposed for social media, video scripts and an email newsletter for $2500 per month.
See? That’s an actual, specific product. And yes, people have been willing to pay for it.
All in all, you’ll have to test out different ideas. You’ll learn a lot about what people want vs. what you can offer.
But at the end of the day, you’ll find a sweetspot in the middle of those three questions.
Network, network, network
I used to love networking. In college I was that kid.
But I understand the connotation that comes with networking.
I don’t mean going to those weird events where everyone has an ulterior motive and you have to wear nametags. No.
I mean reaching out to people online, asking how you can help them, sharing with them your story, showing you care, meeting up in person to share quality time together.
That’s how you network.
When I started my company, I had mentors, other entrepreneurs and potential clients to rely on once I quit my job. I cannot understate how HUGE that was.
I recommend before you quit, spend your 6-month runway building relationships with people who will ride alongside you, giving you advice and even paying you for your services.
- Peers — People who are 6 months ahead of you who can share in your excitement, talk through similar challenges, etc
- Mentors — People who are years ahead of you who can teach you the ropes and help you avoid fatal mistakes
- Customers — People in your niche who will be willing to pay you for your services
Plant the seeds before harvesting the plants.
So you’ve figured out what you’re good at, who you want to help and what they’ll be willing to pay for. But you’ve also built a network of mentors, peers and potential customers.
This will serve you well. Now, quit your job with confidence. And hit that lauded $10k even faster than I did 😉
