Welcome to another edition of our new newsletter! You’ll receive the best practical startup advice straight to your inbox every week.
In this week’s edition, we answer the BIG question: should you quit your job — that thing that offers you stability, routine and financial security — in favour of an entrepreneurial leap of faith that often offers you the opposite?
Truthfully, the answer is not straightforward. But lucky for you, we’ve published some great stories this week that offer boots-on-the-ground insights that cover everything from the good, the bad and the ugly.
Michael Lin is a full-time entrepreneur and co-founder, but it wasn’t always this way. He first had to make the bold decision to quit a role at Netflix that paid well, but left him unfulfilled. Sound familiar? If you are experiencing the following, it’s time for you to break free of the golden handcuffs:
- A lack of transition or career steps in roles, leaving you doing copy and paste work day in and day out.
- When it goes from earning and learning to just… earning, which leads to waning motivation — bad news for you and the company.
- If you have dreams, remember that time is precious and waits for no one. Go grab them today.
Dickie Bush joined us this week on the Entrepreneur’s Handbook podcast. He’s a former BlackRock trader who recently quit his job to become a full-time digital builder. He’s amassed 200k+ Twitter followers and taught many others to succeed through Ship30for30.
In this insightful story you’ll learn to:
- Stay consistent even when things aren’t going your way.
- Engage with everyone, you never know who might become your business partner one day.
- Transform your happy customers into your biggest cheerleaders.
- Never be reliant on one platform. Go where the growth is!
Sam Schreim is a founder and business model hacker, who took a leap of faith and traded a set career for an entrepreneurial start. How did it go? Well… if he went back in time, he wouldn’t do it again. From Sam’s years in entrepreneurship, he’s learned:
- Your close circles will be envious, but they won’t understand the risk, or the fact you’re statistically likely to fail.
- Overheads will quickly wipe out your money, and you need decide what risk you’re willing to put on your shoulders.
- 82% of businesses fail because of cash flow — this is one of your biggest obstacles.
- Entrepreneurial drive and risk-taking spirit shape the world today, but it needs to be accompanied by a strong sense of realism.