Stick Like Glue Radio #123 On this episode of Stick Like Glue Radio I interview entrepreneur best-selling author Jeff Steinmann who write the book, How to Quit Working! Jeff share lots of entrepreneurial nuggets in this show – do not miss it!
On this episode of Stick Like Glue Radio I interview entrepreneur best-selling author Jeff Steinmann who wrote the book, How to Quit Working! Jeff share lots of entrepreneurial nuggets in this show – do not miss it!
Main Questions Asked
Why is it so important for people to quit their job and start their own business?
Is it true that 70-80% of people are not happy in their current job?
Why is it important to create an income that doesn’t require you to trade hours for dollars?
How can people create a business that is scalable, mobile, and makes you happy?
Why does burning bridges help people be successful?
What are some of the 13 decisions entrepreneurs must make when they decide to move forward?
What do you say to someone who wants to quit their job but doesn’t know what to do?
Key Lessons Learned
Time is the only true resource that is worth anything
Make time the most important thing so you are doing something you like and care about
Most people don’t think its possible to leave their jobs but it is
The reason so many businesses fail is that we are not taught how to run them properly
People think that starting a business is hard due to the high failure rate and common misconceptions
The top reason businesses fail is because people run out of money
If you have a needed item and your marketing is right your business with catch hold
Businesses don’t fail, people quit
Create assets that make you money on an ongoing basis
3 Categories of Time
1) Sustaining- e.g eating, medical, cleaning house, dropping the kids off at school
2) Living – pleasure activities e.g theatre, boating, spending time with family
3) Building – things that increase the quality of time you spend ‘living’ in the future
The real value is spending less time ‘sustaining’ and more time ‘living’ as you don’t get any value back. Spend more time in building.
How to Quit Working
A lifestyle business must be scalable, mobile, and must make you happy
Start with a premise that your time is the most important asset then the rest falls into place
When starting out, think about what happens when your clients double, or your sales triple. What will that do to your time?
A job that you ‘own’ is the worst of entrepreneur ship and the worst of employment
Figure out a way where you have no choice but to move down the path to success
Our primitive instinct for safety is what causes us want the option of returning to work in case something goes wrong we have a back up plan for survival
Burning bridges changes your mindset as you know there is not other option but to succeed
Decisions Entrepreneurs Must Make
Listen – Decide who your customer is and understand them. What are their problems and how can you solve them? What will solving those problems really do for them?
Responsibility – Every single thing that happens is your fault.It shows you are in control of everything whether good or bad.
Physical Health- You have to make the decision that you will take care of yourself physically.This is your vehicle so take care of it.
Advice on How to Quit Working
No matter how difficult you think your situation is, there is someone in a worse situation who has made it work.
If you want to not be part of a business that fails then flip around the way you think about business
Identify a product or business that people want then get an audience for that service
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