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!
Stick Like Glue Radio www.getjimpalmer.com
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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Links to Resources Mentioned