A lot of people have a job but would rather start a business. Problem is, they feel stuck.
… They feel stuck in their job because it pays them a predictable paycheck every week and they need to pay the mortgage and put food on the table rather than risk starting a business and not knowing whether they’ll be able to pay their mortgage during the early start-up days.
Friends, former coworkers, potential clients — many of the folks I know are in the same boat. Just recently someone reached out because they were facing exactly this scenario: They want to start a business, they have entrepreneurial aspirations, but they weren’t ready yet to give up the predictability and assurance of a paycheck.
HERE’S THE ADVICE I GIVE TO EVERYONE WHO IS STUCK IN A JOB AND WANTS TO QUIT
(The good news: It’s easy and fun to do, and there’s ZERO risk).
As well, start thinking about how you’ll solve this problem and serve this target market. You do not need to nail down a specific product or service that you’ll offer, although you should start thinking about it. However, you do not need to have a product or service yet, nor do you need to figure out price, etc.
Second, build a website about that problem and the solution. You can create a free website on a site like blogger.com or wordpress.com, although it doesn’t cost very much (and it looks way more professional) if you build a website that you pay for (i.e. buy a URL and get it hosted on a server). It’s simple and affordable (maybe $100 a year) and it gives you a ton more credibility.
Once you’ve built the site, just start writing about the problem and solution. I recommend a blog, although you don’t have to use a blog. But I do recommend that you blog about the problem and the solution regularly. At least twice a month, although you should probably blog about it a little more frequently than that. (Once a week is great).
Blog. Blog. Blog. Just keep blogging. Keep it simple, have fun, and most important, be helpful! Don’t worry about giving away your secret sauce too early; just add value to your audience and get them reading your site and listening to you.
The reality is, you probably won’t get much traction in the early weeks or months. That’s okay. There’s a few things going on here:
- You’re building a great foundation of content that will benefit you later
- You’re positioning yourself as an expert
- You’re testing the water to make sure you enjoy it and can sustain talking about it
… and of course you’re doing all that without quitting your job; you can do it about half an hour a week, in an evening. Easy!
Third, start sharing your content on other sites. Slowly start building marketing accounts at sites like Twitter, Facebook, YouTube, and start participating on industry forums. Don’t aggressively market, just start building content and interacting with people who find you there. Expect this to take a few weeks or months. That’s okay. Just keep working and having fun building this foundational component.
Fourth, assuming you’ve done the first three steps correctly, and a few months have passed and you’re now starting to get some traffic and some people listening to you, then you can decide what to do. I would consider building an email list at this point using a service like Aweber. Sign up for Aweber and add a contact form to your website. Then website visitors will add their email address to the contact form and you can start emailing them to connect with them on a deeper level. Again, expect to take a few weeks or even months to do this. There’s no rush.
Fifth, at this point, you should start thinking about something to sell. If at all possible, start with a content-based product that you can create and sell for passive income (such as an ebook or video training). That’s the best option, because it allows you to do this all while you’re still working.
If it’s impossible to start with a content-based product (for example, if you want to start a service-based business) then you need to make a decision:
- Are you able to provide the service in the evenings and weekends? If so, you might consider starting that way. Lots of businesses start that way and it doesn’t take long to ramp up from there.
- Are you able to outsource your customer leads to someone who can run the business? If you can sell your leads to someone else, or hire someone to perform the service for you, then you’re good. No need to quit your job if you don’t want to.
- Or, you might have enough work to quit… then go ahead.
The easiest way to do assess whether or not you have enough potential business to quit your job is to do this: Send out an email to the list of contacts you built in the previous step and say, “Hey, I have some availability in about two weeks. You can hire me to (… do whatever service you’re selling). If you’re interested, just reply back.” If no one replies, there’s your answer. If people do reply, give them a small discount if they pay in advance so you have some cash flow during the transition. Then march into your boss’ office and hand in your two week’s notice.
QUESTIONS PEOPLE ASK ME ABOUT THIS METHOD
How long does it take to get this going? It takes only a few minutes to set it up and only about 30 minutes to an hour each week to keep it going. But the time to get to the point where you can quit your job, that part depends on you: You could be looking at weeks, months, or even years, depending on the target market you chose, the problem they feel and the solution you offer, how much you charge, and how much you position yourself. But I’ve seen this work over and over, and I’ve seen it take as little as 2-3 weeks. If you want, you can do this over a period of years; there’s no rush.
How much does it cost (or, can I use free services?) You CAN do this entirely for free. Actually, this is exactly what I did way back when I first started (using a blogger-based blog and a yahoo email address!) However, I wouldn’t recommend it. Setting this up doesn’t cost much — maybe $250 a year, max — but the level of professionalism that you achieve with that investment is priceless. Plus, if your business grows really big, you’ll need to eventually switch over to a regular (paid) site and that switch can be challenging after all the marketing you built up to your original free site in the first place. So seriously consider a paid site.
What happens if someone contacts me to buy from me but I’m still working and can’t serve them? If you can, see if you can help them on an evening or weekend, if appropriate. Or, sell them as a lead to another company who can help them. Or, if neither of those two things are possible, just tell them that you’re fully booked and can’t serve them at this time.
What happens if it doesn’t work out? Great! You’ve lost nothing but some time. Consider selling the website to someone else or just shut it down and consider it an investment into an education.
NOW GET STARTED
This is a simple, painless, and even FUN way to build the foundation of a business with no risk. I would advise anyone with a job to start doing this right away, even if you love your job and don’t want to quit. This creates options for you down the road but doesn’t expose you to any downside today. You may be able to build up a business that will replace your income (or just augment it)… and it’s easy to do.