4.8 • 648 Ratings
🗓️ 19 August 2016
⏱️ 60 minutes
🧾️ Download transcript
<p>Before people start a business they usually have a decision to make: am I going to quit my job and work full time on this, or am I going to work on this on the side? Show Notes: fizzleshow.co/176 Both have pros and cons, both are frustrating for different reasons. This is a topic to be careful about. Some experts and gurus out there would have you believe you need to just put it all out there, believe in yourself and take a big leap of faith. That’s the model that worked for them so they tell you to do it. But maybe there are more practical ways we can be intelligent about this decision. In this episode we break down common variables you may not already be thinking about like: - How much savings do you need? - What does ‘runway’ mean? - What’s a ‘burn rate’? - What are the different decision points here that would allow me to make a smart decision? It’s a practical and exceptionally helpful episode. Enjoy!</p>
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0:00.0 | Hello and welcome to the Fizzle show. |
0:10.5 | All right. |
0:15.7 | Hey, this is the Fizzle show where every Friday we publish another conversation about the art and science of supporting yourself doing something that you actually care about. |
0:27.9 | In this episode, how much money should I have saved up before I quit my job? |
0:35.0 | See, before people start a business, they usually have a decision to make. |
0:38.3 | Am I going to quit my job and work full time on this idea? |
0:42.2 | Or am I going to go work on this on the side while I keep my job? |
0:46.9 | Okay, now both have pros and cons. |
0:49.1 | Both are frustrating for different reasons. |
0:52.0 | All right? |
0:52.4 | Now, this is a topic to be careful about. |
0:54.7 | Some experts and gurus out there would have you believe that you just have to put it |
0:58.9 | all out there, make a big leap of faith and see what happens. |
1:03.3 | And that's a model that worked for them and probably a lot of other people. |
1:06.4 | But maybe there are more practical ways that we can be intelligent about this decision. |
1:10.7 | Okay? So in this episode, we break that down. |
1:13.8 | In case you aren't familiar with what we do here, listen, we love our podcast listeners. |
1:18.7 | If you want to try out Fizzle for five weeks for free, you have a special link to do so. |
1:25.4 | Fizzle.com slash try five is just for our podcast listeners. |
1:30.6 | You can start the roadmap. |
1:32.0 | You can check out any of the 40 plus courses that we have in there for independent |
1:36.0 | business builders. |
... |
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