Golden Handcuffs holding you back
Curious to hear any stories/tips/experiences from anyone here who maybe had a really comfortable situation prior to starting any companies/projects, and how you made the transition to doing your own thing? Was it part time on the side? Quit completely? How long did it take from the first thought of moving on, to actually doing it?
This might be relevant to you: https://danielvassallo.com
Much appreciated! I'll definitely check it out.
I live in a small town in Canada. The startup where I work is awesome: they treat me well and pay me well. Not living in Silicon Valley, I know I'll never get another job that's as good as the one I have. Yet I want to try striking out on my own.
So here's what I've done. Two years ago, I asked my employer for a six-month sabbatical. Actually, I told my employer that I was taking a six-month sabbatical. It was a big risk - they couldn't guarantee that they'd take me back at the end of it - but it worked out. At the end of the six months, I negotiated returning part-time, 3 days a week.
I have another part-time job that takes up 2 days a week. So I have plenty of money and security, but not nearly as much time as I'd like. It's hard work juggling two jobs and a side hustle, but given my situation, living in a place where jobs are hard to find, quitting either job completely would be a huge risk.
I'm happy that I've been able to start a side hustle without quitting completely. My salaries help fund my business, which, not being a pure software play, needs capital. It means that my side hustle will grow more slowly, but it also means that I can postpone taking the plunge until I have a better idea of how much income it can bring in.
What I've learned is that if you're valued by your employer, you may have more scope to negotiate shorter hours than you think. It doesn't have to be all or nothing!
Good stuff Mark!
What's your situation, Matthew? I'm sure there's a story being your question!
Not too much of a story...at least yet. I'd say I'm in the beginning stages of building my own thing. I've recently learned about the 'no code' movement and I'm fascinated by it. I'm currently trying to see if I can come up with anything of value since I don't have much of a programming background (I'm in analytics). I'm also exploring consulting for companies on design sprints/growth hacking/analytics. At some point, I'll focus on one path, and hopefully I'll eventually be at the point where I can make money doing what I pursue.
I currently have a job that pays very well, and allows me to cover expenses, a mortgage, and have some money left over. I'm just thinking into the future about how that transition might go if I do make money pursuing my own thing.
Sounds like you have a plan, even if it's in the early stages. And you work in many of the areas I've worked in, too: design, growth, analytics. Let me know if you need any programming help: it's a while since I've been a full-time software developer, but I still code! Look forward to following your progress!
Appreciate it Mark! I'll definitely be making more posts about things as I make some progress.