creating your runway: how create a side project and quit your day job
TRANSCRIPT
Creating your runwayHow to build your side project and quit your day job
The day my father was laid off from his corporate
job was the happiest I ever saw him.
I love my dad, but I won’t repeat that mistake.
I promise:Interesting actionable
discussion
I love questions,And the door is open-
please leave if you want to (really!)
Goal: Allow you to bridge the gap between your
day job and a entrepreneurial venture
We live in a 401(k) world-Thomas Friedman
The LivingDirect / FringeSport story
I quit my 6 figure job with a house note, 2 car notes,
1 kid, and a 3 month pregnant wife.
I am dumb.
You can be smarter.
How?
Adapt what is useful, reject what is useless, and add
what is specifically your own.-Bruce Lee
Be smart, clever, and different.
Don’t be unethical, illegal or immoral.
What you owe your employer
Figure out your “job”
Write your own description if you need to.
Then figure out how to knock it out of the park
with the minimum commitment to your time
Hint: Management is hard.
Get excellent at getting other people to do stuff
for you.
Then start working the angles.
What your employer owes you
Basically, a paycheck
They think they are buying your TIME
MONEY = How man keeps score
TIME = How GOD keeps score
So be selfish with your time
And sell your employer something else
Your work product
How to find time
Do you play video games, watch TV, read, surf
reddit, facebook?
If you died tonight, would you be proud of today?
I love the Four Hour Work Week
I don’t know how to live it.
All I know is how to be relentless, and work
smarter and harder than anyone else.
But you can leverage yourself
EmployeesInterns
Contractors
OdeskElance
Platforms- creation and leverage
You need a platform
An email listA blog with an engaged readership
A podcastA website with proven trafficA consultancy with a pipeline
Build this
Engage your readers
Think monetization from Day 0
Eyeballs are worthless without a plan
And you’ll get bored unless you’re getting paid
“Buy now” blogging
Look at what others are doing and steal it
Apply it to your platform, with your mojo
Good artists copy; great artists steal
-Pablo Picasso
Examples
iwillteachyoutoberich.comnerdfitness.com
impossibleblog.com
FringeSportEat.Move.Improve
The art of nonconformity
Adam Carolla ShowLifestyle Business Podcast
If you can’t build your own, hijack someone
else’s
AmazoneBay
kickstarter (warning)itunes
Income, revenue, savings, and wealth
When I was corporate, I though I’d save up a pile
of money
Now I realize this sucks
YOU MUST SAVE
But
Better to create income streams that allow this
And give you freedom
Debt is what the 1% use to subjugate the 99%
Which is cooler
A BMW now, or a million bucks in 10 years?
Your runway
Budgeting, baselining, dreamlining
Geo-arbitrage
Travel hacking
Things vs. experiences
Consulting as a bridge
Savings
Burn rate
Debt
Seek first to understand, then to be understood
-Stephen Covey
Pro tip: a good spouse is worth more than gold
Case studies
Cyclone Speed Rope
Effective Spend
Terry Lin (life change)
Adam Carolla Show
Didgeridoo Dojo
Ideas
ProductSimpleWatch company (MKIII)
Apnea breathing
Travel accessoriesWatch bands and acc.
Hacking your job
Water bottlesTooth brushes
VO2 Max
Did you know the GoPro guy is a
BILLIONAIRE?
He didn’t invent the camera. He invented
some straps.
Resources
The Four Hour Work Week22 Immutable Laws of
MarketingRamit Sethi
Running Lean
You are the average of the five people you spend
the most time with
You can do it
Find help
Meproductsimple.net
[email protected]@productsimple
Onlinelifestyle business podcast
redditTim Ferris blog
Thanks and good luck!