I am an avid dreamer.  If you are like me, you understand that we feel like we can do anything we put our minds to, and actually, I think you are correct.  The fact of the matter is that although we can do anything we probably shouldn’t. Have you ever applied for a job and you knew it was a stretch but you did it anyway?  I did that and I got the interview.  I hopped on a plane when my daughter was just 2 years old.  I was a bit older so I think I felt like this job interview was an opportunity to prove myself.  I was eager to show off my ability to be a super boss and show the world what they had been missing.   Dolled up in my now 2 sizes larger Tahari pinstriped suit, Ferragamo gray heels and a coach tote, I waltzed into the office of this unsuspecting company ready to take on the world.  I prepared for that interview. I knew every answer, every statistic, every response like I was taking the GMAT test to get into Grad School.  I even did a presentation and I had great engagement.   The final part of the interview was a meeting with the hiring manager to discuss how the job worked logistically.  I went into the office and gazed at the 2 screens on the manager’s desk.  The manager rattled on about the process of scheduling each international trainer and the opportunities to move up across the organization but all I saw was myself with a fancy packed bag traveling all over the world.    I pictured my beautiful baby girl’s face in my mind sitting at home and then I looked back at those 2 screens.  Did I choose the baby or the boss?  I walked out of the room lighter than I had been in a long time because I was clear.  I understood what I wanted and why I wanted it.  I said NO to this opportunity.   “No” was the word I needed to hear from myself.

1. Sometimes you must sit with yourself and understand the true reasons you want to do a thing.
2. No is a complete sentence, and it does not mean forever it can be a “no” for now.
3. Understand why you do the things you do.
4. Know when to say “no” and it can be the most freeing word on your joy journey

“There is no success without hardship.”- Sophocles.

In today’s world especially online, the hardships of others are often spoken of
by those experiencing them. There is a tendency to view hardship as a
negative when in fact it oftentimes is a positive.
To illustrate this point I want to share a true story. The name was changed but
it is a real person who experienced very real hardship. Perhaps it will help
others who are experiencing hardships.

A young beautiful girl named Klara, married young. Memories of her childhood
were filled with a tumultuous course of events. This was her chance to start
fresh. She married the man of her dreams. She and her husband wanted
nothing more than to get started in their life so they had children immediately
finding all the happiness they imagined. Her world felt perfect, building the
American dream with a husband she adored. Then tragedy found its way into
Klara’s home. Her beloved husband died suddenly, leaving her alone with the
children.

Grief pulled her into a dark space. She grappled with this awful new reality
often wondering why this happened to her. Once reality set in, she knew she
had to go on. Klara often fought back tears as she sat with one child in her lap
dozing and another next to her as she created a plan for her life. But
somehow she found the strength in those beautiful faces of her children to
push on. She finished her education, while working three jobs, and
establishing a business.

Klara felt so exhausted on some days she almost slept standing up. She
recalls this part of her life saying she felt like she didn’t get a good night’s
sleep for almost twenty years. Some days seemed endless. She struggled
between being overwhelmed and self-pity.
But when these feelings popped up she quickly resisted these feelings,
shaking them off quickly and instead focusing on the joy her children brought
her. They often made her laugh with their silly antics. It was in these
moments that she found comfort. When she started to feel pity she looked
back over her life and noted how she was improving herself and modeling
acceptance for her children.

Today Klara is a successful businesswoman, and the children are even more
successful than she is. They grew up seeing how to approach anything in their
lives with a sense of positivity and that has led to a life that is exceptionally
rewarding for them.

The lesson here is that everyone experiences hardship. As you go through
these events your mindset matters. If you think negatively it will lead to down
trodden feelings and emotions, optimally getting you nowhere fast. If you
focus on the positives looking for opportunity, you will find that you can
overcome any hardship. This will lead you to success in business and in life.
Klara has many friends, has a fulfilling life (no life is perfect and Klara still
works on hers), and has very adept adult children who have experienced
hardship themselves and have also moved through their hardships with
success. Klara instilled in her children that they can overcome anything. She
reminds them of where they started versus where they are today. Attitude is
a choice.

Of course, everyone has a different hardship to face and life is filled with
obstacles. But tackling each obstacle positively leads to a positive outcome
and strengthens resolve in all areas of life! Joy journeys are created, not
given!

“Resolve to keep happy, and your joy and you shall form an invincible host
against difficulties.”- Helen Keller.

Your day-job is your first investor. Don’t Quit… Yet

As budding entrepreneurs when we start a new business, we obsess over every detail. We feel an adrenaline rush with every sale and we often look at our day job as a disruptor on the journey to fulfilling our dreams. I would challenge you to view your day job as your first investor. Research published in The Academy of Management Journal shows that entrepreneurs who kept their day jobs while starting their business were 33% more likely to be successful that those that jump directly into full-time entrepreneurship.

But my business is different

So, you discovered that you have a talent in voiceover or in another business. That’s fantastic! Your business is no different than any of the other start-ups that we have read about it, like Toms Shoes who went from a $625 million company to being taken over by its creditors. Your early success does not mean you should quit your day-job and examples like Toms, demonstrate how quickly businesses rise and fall.

Want to be your own boss?

Often, I hear people say they want to have their own business because they want to be their own boss. News flash, if you go into business for yourself, you will discover that you continuously work for someone else and they are the boss. Every client that hires you to deliver a product or use your service acts as your boss for that project or transaction. Always consider the facts before your quit a good job. According to the U.S. Bureau of Labor Statistics, about 45% of new businesses fail within the first 5 years.

Are you building a business or just creating yourself a JOB?

The “day-job” gives us an opportunity to spread our wings and learn the basics of business. The job teaches you how to navigate complex issues, how to provide customer service and the direct deposit always shows up on time. When working as an entrepreneur you manage every aspect of the business. There is no phone to pick up and say “let me transfer you to our customer service department.” You are the customer service department. When the customer doesn’t pay on time, you get to be the controller. After you add up the time you spend to get the paycheck you dreamed of, you may discover your hourly rate dropped significantly.

What am I suggesting?

I am saying don’t quit your day job, yet. Wait until you have enough money in the bank to manage your expenses for at least a year and don’t forget about insurance and taxes. Make sure the money saved covers you in the event of a sickness or an economic downturn.

Make your decision to leave your career based on facts, not emotions.

The U.S. Bureau of Labor Statistics states that 20% of U.S. small businesses fail within the first year, 50% fail within the first 5 years and only about 33% of those businesses survive to see their 10 year birthday.

I am not being all doom and gloom. I firmly support small business endeavors. In the “resignation” era I am suggesting that we hold on to that resignation letter a bit longer. Don’t push send just yet. Give yourself time to grow in your business. Let the facts guide your decision to quit.

What if you hate your day-job? There is hope!

If you hate your day job and are counting the days until you can quit, then let;s talk about how to do that safely.

9-Steps to leaving your day job

1. Save at least a 6-month cushion.

Most people will ignore step one and save enough to make it through the month. Here are the facts. Vendors and clients take time to pay. Sometimes you can have receivables sitting on your books for 90-120 days before you receive payment. Your cushion could be all you need to keep your business alive and thriving. But if you fall into the camp that quit without a cushion then go straight to step two.

2. Payoff all debt, except maybe your mortgage.

If your side hustle is as good as you think, then you should be able to pay off your debt with all the extra cash you have earned. If you discover that you CAN NOT pay off your debt then maybe you shouldn’t quit your day job yet!

3. Make sure your business entity is completely set up. S-Corp, LLC, Licenses etc.

Most companies offer legal insurance. Use that insurance to get legal assistance to set up your business, Trusts, Wills, etc.

4. Research health insurance.

Understand your health insurance needs and how much you will have to pay each month for appropriate coverage. Don’t forget disability insurance, if you get hurt or your vocal chords get damaged, who is going to pay you while you heal? There is no “paid time off”. You need coverage. Let’s also talk about the D word. What happens if you die? Your day-job normally provides a small life insurance policy. You are now the day-job. This means you will need to get life insurance to protect yourself and those loved ones you leave behind.

5. Create a monthly budget.

Before you quit, you must understand how much you need to earn each month to live the life you have become accustomed to living.

6. Set up your retirement account.

Yes, one day you will retire and you will want to sit on a beach and tell stories about when you were caught up in the hustle and bustle of life. If you want to do that then you need a savings like that 401k/403b or other investment account offered at your day job.

7. Figure out how you will handle your administrative tasks.

Decide how you will handle billing, collection, marketing, social media, relationship management customer follow up and complaints. Who is going to wear these different hats? Will you be the person or will you outsource? If you plan to outsource, start now. You don’t want to discover that the contractor you planned to use is awful at billing when you are depending on their collection abilities to live.

 

8. What will your working hours be?

Often entrepreneurs blend personal and professional, which means there is not a lot of separation and family can get tired of being dragged into every business matter. You need time to take care of yourself and those who love you. Do not allow your business to intrude on everyone’s life. Your day job has hours of operation. You should too.

 

9. Decide how much money you expect to earn this year.

You would never take a job without first understanding what the pay would be right? Why wouldn’t you do the same thing for yourself.

Write down how you plan to get to this dollar amount. This involves a little math. Here is a quick voiceover example. You want to earn $100,000 this year. Average job pays $350-500. Including taxes, you need to earn $130,000 in gross sales to keep 100,000.

$350 per project-voiceover / $130,000 = 371 jobs
$500 per project-voiceover / $130,000 = 260 jobs
$1,000 per project-voiceover/$130,000 = 130 jobs

Now that you have a goal. Try it out while you work your day job. Be the best employee and make your first investor happy to have you and sorry to lose you – when its time to go.

Part 2 of our 3 part Mindset series.

 

Look around you- look at your cell phone, your laptop, your sofa, the air conditioner, the internet and every other thing around you. What do you find common to all?

Isn’t it amazing that these things were once ideas in the minds of the inventors? There are so many wonders in the world today that your great grandfather would find difficult to believe could ever exist. Such is the power of the human mind.

 

“Imagination is everything. It is the preview of life’s coming attractions.”

• Albert Einstein.

Everything we see today are products of the human mind so for anything to be a reality, it must first be imagined. This means your thoughts determine what becomes real in your life. Believe it or not, all the thoughts you have had so far cumulate to create your present reality.

What do you think about?

If you haven’t paid attention in the past.  Start now.  Our thoughts are too powerful to leave on autopilot. What I mean is, the things you focus your mind on become your reality.  You are constantly manifesting your own truth.  I know it sounds far fetched but hang on for a second and let me share a story with you.  Sitting with a group of my accountability partners I was always afraid to say my big dreams aloud.  I would keep them inside for fear of them being crushed.   I secretly love acting but I don’t desire fame. And I prefer the voice aspects of the craft.  I told my group that my secret dream was to be in a show and randomly I got an audition for a Netflix Short.  I had no idea what that was but I thought I would give it a try.  They not only hired me but they also hired my daughter.   I will include the link so you can see one example of how manifesting has worked in my life.

Watch your thoughts because eventually you attract that into your reality.

How do you watch your thoughts?

Your thoughts are formed by what you feed your mind; what you watch, what you listen to, what you read and the conversations you have. With the advent of social media, there is endless content on the internet to watch and read but if you do not curate your timeline, you will feed your mind with junk. Just like watching your diet, you should watch what you expose your mind to.

Fundamentally, the differences observed in people’s quality of life is based on their mindset –the way they think about things. Your mindset is a product of your thoughts and your thoughts are products of what you consume.

For example, if being wealthy is what you desire, you should become the type of person who has a wealthy mindset. Are you reading comic books while the rich are reading the Financial Times?  Are you buying lottery tickets while the wealth minded are buying stocks? Be a student of what you desire.  Find out what they read and how do they manage their time?  READ!