1224: I Quit My Job And I’m Not Crazy by Nicole Ouellette with Budgets Are Sexy on Self-Employment & Financial Planning

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[00:01:23] This is Optimal Work Daily, Episode 1224.

[00:01:27] I quit my job, and I'm not crazy.

[00:01:30] Buying Nicole Olette with BudgetsArsexy.com.

[00:01:34] And I'm Dan, your host here, and welcome to this edition of Optimal Work Daily, where I read to you from the very best blogs that cover work and productivity, and a lot more.

[00:01:43] So now let's hear from BudgetsArsexy and optimize your life.

[00:01:51] I quit my job, and I'm not crazy. Buying Nicole Olette with BudgetsArsexy.com.

[00:01:58] When I quit my full-time job with health insurance a few weeks ago, more than one person thought I was insane.

[00:02:04] Of course, they never actually said that.

[00:02:07] Wow. You're gutsy. I'll give you that.

[00:02:09] How is un...I mean, self-employment going.

[00:02:12] Your father is probably rolling over in his grave.

[00:02:16] To be fair, mom followed up that comment with lots of support.

[00:02:19] Still, I know she's right. My father would have never approved of this.

[00:02:23] Then there are the people who think I sit around all day eating bonbons and flitting around my apartment in a bathrobe.

[00:02:29] Man, if someone would pay me to do that, that would rock.

[00:02:32] Aside, it's hard to flip in 220 square feet of space shared with the dog.

[00:02:37] I'm here to tell you the truth, friends. The truth of quitting your job and going it alone.

[00:02:42] 1. Plan Like Heck.

[00:02:46] No matter what, you still will not have planned enough, but plan as much as you can.

[00:02:51] Small clients. How much do you have to charge to pay your life? In my case, not every hour I spend is billable, so I planned 15 to 20 billable hours a week when I calculated my prices. Make a business plan, which you will probably hate doing. But in the end, it may save your butt.

[00:03:08] 2. Have some money to back it up. I've been saving money and living frugally for almost two years. In addition, my father died and left me some money, which gives me more of a cushion than the average 28-year-old has the money.

[00:03:17] For the record, I would give up this entire business in about one millisecond to have him alive again.

[00:03:23] So, start saving now, and with your business plan and nest egg, you can probably get yourself a small business loan, whether it be from people you know or a bank.

[00:03:33] I'm getting my stuff ready in case I want to do this at the end of the summer.

[00:03:36] Also, be prepared to transition money-wise if need be.

[00:03:40] Right now, I'm working a part-time job this summer to keep paying my rent and the funds I'm having.

[00:03:44] Working a part-time job this summer to keep paying my rent and food as I ramp up my full-time workload, my savings are only to be used if completely utterly necessary.

[00:03:54] 3. I won't lie, it does rock in a lot of ways.

[00:03:58] On a roll at 5 o'clock, sometimes I work until 11 a night.

[00:04:02] Lunch with a friend, it can happen. A flexible schedule is fantastic and something I've always wanted.

[00:04:08] 4. But I've never been so worried in my life. I'm a super laid-back lady to the point of almost being annoying, but lately I've been having nightmares, worrying and crying way more than usual.

[00:04:21] Doing this is scary because there's no guarantees that it's going to work, and while I will try not to take failure personally, I'm sure I will on some level if it comes down to that.

[00:04:31] 5. Oh, and I'm totally operating in the negative.

[00:04:35] I did some mat last week and freaked out. I know there's bound to be some ebbs and flows in the business, but I guess naively I thought I'd be different.

[00:04:44] Good news is, those two years I lived below the federal poverty line a while back may have been some good training for me in the months to come.

[00:04:52] And 6. If you don't believe in it, no one else will.

[00:04:56] Is it hard to get up every morning and be ready to sell, sell, sell?

[00:04:59] Is it weird to do something my now-dead father, whom I held in very high esteem, would completely hate?

[00:05:05] It sure is, but I'll tell you that the only person who needs to believe in it in their heart of hearts is you.

[00:05:11] If you can believe it, it will translate.

[00:05:13] You know, unless you have mental delusions or something.

[00:05:16] So, before you quit your job, really dig down deep and ask yourself, "Can I really do this?"

[00:05:22] The answer may be more obvious than you think.

[00:05:24] It's you who will have to work 12 hours a day or make personal sacrifices to free up business cash.

[00:05:30] No one's going to hold your hand or make you get up at 7 every morning.

[00:05:33] It's all you, for better or for worse.

[00:05:36] Know thyself, know thy customer, and know that no matter what, you can reinvent yourself whenever you want with a little love.

[00:05:43] You just listened to the post titled "I Quit My Job and I'm Not Crazy" by Nicole

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[00:07:38] And thank you both to Nicole, who is the author of this post and guest writer at Budgets Are Sexy,

[00:07:43] and the site's creator, Jay Munny. Now we've been fortunate enough to meet Jay at some

[00:07:48] conferences in the past and he's a really great guy. A lot of fun to be around and he

[00:07:52] typically writes about personal finance. So you can hear his content being narrated over

[00:07:56] on optimal finance daily regularly, but occasionally he touches on business too. So he started

[00:08:02] Budgets Are Sexy way back in February 2008 as a way of tracking his journey of hitting

[00:08:07] a million dollars in net worth. And after 11 years of budgeting, saving, learning how

[00:08:12] to invest and making a bunch of mistakes along the way, he reached that goal and millions

[00:08:16] of readers were following along. So come by BudgetsAreSexy.com for a lot more and also

[00:08:22] check out the other podcast I mentioned, Optimal Finance Daily to hear more from Jay Munny.

[00:08:27] So that's gonna do it for today. I hope you enjoyed the post and that you'll be back

[00:08:30] again with me tomorrow, where your optimal life awaits.