Die Rechnung hinter der sicheren Kündigung

0:00Is there a framework for knowing when to quit? Mhm. So, I think there's the there's like the math behind it. And the math I think is pretty straightforward. So, like when do you quit your business? I like you've saved up 3 to 6 months of personal savings, number one. Number two is that you have started something because nowadays in the digital age you can begin a business on the side that can generate income. And that income um in the small amount of time that you're not working uh replaces or at least matches the existing income you have from your your current job. And you've been able to do that or demonstrate that income for like 3 to 6 months. If you do that, that's a very like math way of approaching it. That also is basically never the reason that people are quitting their job. [laughter] Right? Like that's a really like I have I have I have backlog, I have matched my current income with my part-time work, and if I just put my full-time work, I would probably make more. Very reasonable, but never actually the reason that people don't do it. I was I was thinking about the two sort of reasons why someone might quit something or feel like they want to quit. And one of them is clearly because it's hard.

1:03And that's obviously not reason enough to quit. And then there's another one which you were speaking to there, which is it's not moving me towards a meaningful goal, irrespective of how hard it is. Like a marathon, you're raising money for a charity you care about. It's hard, but you don't quit. And then there's maybe if you're running a marathon for no apparent reason, >> [laughter] >> you know, there was no charity, there was no one watching, there was no like fitness benefit, then that's a good, I guess, moment to consider quitting. Um my story mimics yours in a way that I didn't realize

1:30>> Nice. I didn't realize you went through a similar thing in terms of parents disownership. >> Yeah. Um no real great option to to flee to, but feeling like the current path that would have led me to be, I don't know, a business management student was significantly worse on balance than taking the risk. But if I think maybe a point of distinction is it didn't I was so naive that it didn't feel like a risk. Yeah. So, what's really interesting about that is um the guarantee. And so, a lot of times we don't we don't look at what I call the don't, which is like the the alternate path. And so, if I had played out my existing path, I had a guarantee of outcome I didn't want. It was just out of delay.

2:13Whereas here, there's a chance that I can make it. And so, one of the final kind of framework for making the decision was guarantee bad, chance at good. And I was like, well, I might as well take a chance. And I I strongly um encourage thinking about uh playing it out. And so, what I mean by that is like, I think fear exists in the vague, not in the specific. And so, when you say, "I'm going to quit my job and then what if this doesn't work? I'm going to failure." tons of fear.

2:50If I say, "I'm going to quit my job and then I'm going to try and start a business and if the business doesn't work, I'll probably have a compelling story that I could tell for business school if I wanted to to show that I had some entrepreneurial slant. In the meantime, I could use that experience plus my job experience to probably get another or maybe even better job in the meantime and match or or supersede my existing income and the actual loss would be maybe the savings that I'd saved up. But if I'm younger or I haven't made as much money as I want, then that's never been the amount of money that would be material anyways on the grand scheme of what I would like to make. Um and in terms of living situation, I will worst case go back to my parents' house with my tail between my legs or sleep at a friend's couch because I have enough people that would be willing to put me up in a garage if I had to. And so, it's like, okay. So, my actual worst case scenario is just like I have a cool story and maybe some shame that I is self-inflicted cuz it's not like no one else cares really. But it's self-inflicted shame and maybe a detour or a different story that I have to tell later on in my career.

3:56Not as much fear there, right? But like the first one like I'll fail, everyone will hate me, and I'll die. >> [laughter] >> The first one sounded like it was written by your like amygdala. Like a fear center. And the second one was pure like prefrontal cortex. It was all logic. Yeah. And I'm wondering, you know, as you're going into that decision, obviously fear is going to lead it. So, of course you're going to go for option one where you just think about the downside. Maybe there's a a practice that allows you to get into your prefrontal cortex into logic. I think that's I actually So, I think you nailed it and said it way better than I did. [laughter] But I think that's I think going from vague to specific basically disengages your amygdala because it's it can't reason the logic chain of causation causality of what's going to happen next in chain of events. And so, when [clears throat] you get into the specific of it, all of a sudden you're like, okay, I'm not going to be homeless and then shamed and die. Um I might live in inferior living conditions for short period, which by the way, when you're later on in your life you'll look back and think of as the good old days cuz I can't believe I was couch surfing. I was pursuing my dreams, right? It's it's only like in the moment that it feels bad. When you look back like even I I find this hilarious like like how long after you do something embarrassing is it funny?

5:06>> [laughter] >> Right? Like at some point for almost all of us with enough time the shameful experience becomes funny. And so, if it is going to become funny eventually, it might as well become funny now. Yeah. >> And so, it's just like pulling the time horizon up. But all of that's prefrontal cortex. >> Yeah. Decision-making. And so, um no, but I think that's exactly like I think that that nailed it because when I thought about this this decision, obviously I had my very, you know, emotional statement around like his dream has to die for mine to live. Yes.

5:32Also, logic downside risk here. I'll have a story. And I can always get my job back. Okay. And if I can't get that job back, I will have other ones that will be available. Fine. And if I have a downgrading and some people think that I'm not as successful then, Okay. I'll not stop though. Mhm. And so I think that that that demystifies a lot of the fears. I think that applies not just for entrepreneurial fears. I think it applies for any fear. Like, I'm going to stop like I can't tell this person this bad news. All right, let's play it out. I say something and then they're going to kill me. Probably not. So, what's going to happen? I'll say these words and then there's they'll they'll flip the table. They'll they'll flip me off. They'll maybe just feel hurt. And maybe they'll cry, maybe they'll shout.

6:12Okay. Okay, if they shouted at me, what would I do? Like and you just kind of play it out and you're like, okay, I think I have like most of these conditions prepared for. Mhm. And then all of a sudden you can like have those things. What you also said is that in the face of guaranteed misery, any option is better. Yeah. And like It's real. You get to live once. Yeah. So, like why would guaranteed misery be >> [laughter] >> better than any available option? It's the latest counting. That's What's crazy is the latest counting happens both ways. Like, um So, like you set your alarm for 5:00 a.m. at night and you're like, I'm going to wake at 5:00. But, that's because you're delaying the pain of waking up.

6:48And when it's immediate, when I have to quit the job, like I'll quit my job tomorrow for 20 years. >> [laughter] >> And so it's just like we always we we we delay the fact that we're going to be miserable into the present to it like a like we we massively discount what a whole lifetime of misery would be. Amen. Real quick, I'm going to show you the exact 10-stage roadmap from zero to 100 million plus that less than 1% of companies finish I've now done multiple times. And so I can say with a lot of confidence that these are the stages as head count increases that you need to get through and I broke each of these down by eight different functions of the business, what the constraint feels like, like what are the symptoms of it when you're going through it, and then what steps we actually took to graduate.

7:28And we've done this across software, physical products, service businesses, brick and mortar, all of this and it works. And it's my gift to you. It's absolutely free. And so the link's in the description, but you just go acquisition.com/roadmap. Just enter your info and it'll spit it right back to you, all free.