Thanks for sticking with me this week and reading this blog series! I'm feeling pretty good about getting 3 blog posts up in one week! Maybe this is a start for consistent blogging...maybe?
If you missed reading the other posts, you can click here to see part 1 and here to see part 2!
I've talked about the advantages and disadvantages to quitting your job and starting a business. The "how" or "action" part can be the trickiest part! I remember the thoughts I had on the day before I was going to officially let my boss know I was quitting. I'd pretty much decided weeks before, but when it was coming down to actually quitting, I was going back and forth in my mind. I had been encouraged to do this by many people for a while, but it took me a while to get there in my mind.
I was at the gym running on the treadmill one afternoon going back and forth in my head trying to decide if it was a good decision. I'm not even sure what the program on TV was about, but it was of president Trump. I had the thought "I'm sure he had to make some scary moves get his career to where it was".
Obviously I'm the cautious quitter. It took me a long time to do it...7 years actually. I know a lot of people who have quit hard and fast and put 1000% into their business and have been incredibly successful. This process took me a long time; partially because of fear and partially because I wanted to have several things in place.
Here are a few things I did before quitting my job...
1. I learned another skill.
This is something a little different than most people. I could have definitely just taken photography and focused on it 100%...and most people do focus on one thing. I decided to add in something new for a few reasons: it could provide an additional source of income, be very beneficial for the future, and help me connect with even more people.
I decided to go into real estate because it was interesting to me, it would allow me to work with people, there's never a dull moment, there is potential to make good money, I can still make my own hours (in a sense), and I thought maybe I could be good at it.
2. I saved a lot.
I grew up in a family where we were encouraged to save. As a little girl when I would get Christmas money, my parents would encourage me to put it in the bank. While buying something exciting is much more fun than saving, I’m glad I learned to do this when I was young.
Before starting real estate I saved up enough for all of the classes and fees that would come from that, and then more so that it would cover me while I started up the business and wasn't making much.
Saving makes life much less stressful and allows you to enjoy the process of running starting and running a business.
3. I changed my lifestyle.
I started scrutinizing the things I spent money on. Eating out less, not buying something every time I went shopping, and looking for coupons for most things. It's actually been very surprising to me how much less I eat out now that I'm not always rushing to and from work without having time to grab food. I also hardly ever go shopping anymore, so I automatically save money there. I've been trying to buy things used or second hand as well. Over time, saving $10 or $20 by doing that really adds up!
4. I try to stay away from payments.
Obviously somethings require a monthly payment like phone bills or insurance, but I try to really limit the things that I have to make payments for. Not having to payments on several different things each month helps out so much with finances. If there's something that requires a monthly payment but there's a yearly payment option to save some a little money, I pay for the year.
Again, this goes back to saving: I was able to pay cash for my car, buy things in full and have enough to make yearly payments because I saved so much while I had a consistent job.
I want to make sure I don't come across as puffed up or like I have it all together, because I really really don't. I've waisted a lot of money and could have been much more intentional in the past to help set myself of for this stage even more. I learned from these mistakes and continue to learn from them. I also realize everyone comes from completely different situations. I have so many people who have helped me get to this point and helped me to keep costs down. My main point is that it took years of this kind of lifestyle to be ready to go info this full time, it wasn’t fast for me.
Celebrate: Making these lifestyle changes is not always fun. I don't know about you, but I have to have rewards every now and then. My rewards to myself have come in the form of a new Fossil bag, an espresso machine, or eating out at a favorite spot. Work hard, but celebrate along the way so that you'll keep at it!