At 21 I was making $9/hour selling insurance.
I thought that if I could make $100K/year, I'd have it made.
By 35, I was averaging $607,227.54/year.
That was the year I decide to quit corporate sales life and go all in on my own thing.
It's now been over 5 years and I could not be happier.
I've built an amazing team of 6 and I get the opportunity to serve you and millions of people each month from my free content to paid services.
However, it wasn't easy getting to this point.
At least a few times a month, I get people asking me about making the leap to do their own thing.
And what to do to increase their odds of success.
My answer is simple:
"You need to stack as much cash and capital as possible while working for someone else."
The reality is that building a sustainable business is very hard despite what the gUrUs tell you.
It's not as easy as posting some content and then seeing cash flow into your Chase account.
So when you build a cash buffer where you don't need to worry about generating revenue and profit for a while?
It allows you to make BETTER decisions for your business even if you're starting at $0.
You have more time to test things out and fail forward.
For instance, let's say you know your monthly cash burn is $10K/month to maintain and keep your current lifestyle habits.
If you have $120K liquid cash you can access easily without penalty, this gives you 12-months to figure it out.
Now if you only have $10K available?
That's a lot of pressure to figure it out unless you want incur credit card quickly.
It's not to say it's impossible, but for most people they'll end up developing "cash flow breath."
It's why it's not uncommon I see people who have built up audiences on LinkedIn..
Then they try to go all in on their own thing...
But 6 months later they're getting a job somewhere else.
BTW, there's nothing wrong with that as entrepreneurship is not for everyone.
My good friend, Ian Koniak, and I have discussed this many times.
We intentionally built up our wealth so we could literally operate at $0 or even negative margins for YEARS if needed.
Now this is SIMPLE but not EASY.
In order to get to that point retiring from corporate life, we had to maximize our current opportunity vehicle of sales.
That meant literally failing in sales, investing in programs, and then consistently executing until successful.
WHILE investing the earnings back into ourselves and other investments to multiply it.
And then doing it for years on end to reach what's known as "escape velocity."
It was doing the hard stuff NOW to reap the rewards later.
And it was 100% worth it.
So if you're thinking about making that move, I highly recommend you build that liquid cash buffer.
And if you're not currently maxing out your comp to do it and you want help to escape the rat race?
Just hit me up 🤙🏽
P.S. I had a great podcast interview with the CEO of Leadrpro on this as I share my journey in detail and all my failures along the way. Check it out here.
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