How to remove risk from quitting your job to start a business

A case study - How a first time entrepreneur created a side income of 78k a year while building a successful business.

Do you have a full-time job?

Have you wondered whether there is a better way to make a living? Whether spending all those hours helping someone else build their dream is the best use of your time?

Have you thought about going out on your own and forging your own path in life?

These are questions everyone should ask themselves.

Those who do ask these questions often get stifled by fear and uncertainty. As great as it would be to do your own thing, you end up opting for the security and safety of a steady paycheck.

I get it. It's scary. If it doesn't work out, it's not just money that you lose. You also lose confidence, respect, ambition and that positive attitude that led you to take a risk in the first place.

It's a downward spiral that you may never recover from.

Or is it?

There are infinite ways to make money, so why do we put all our eggs in the one golden basket?

I'd like to share a story of a successful entrepreneur I met who understood that dreams don't become reality without a consistent, long-term, and often painful effort to achieve those dreams.

This is not a story about what he does now (he's making a lot of money in a very UN-exciting industry - selling fixtures for residential homes). It's about how he managed to get over all the hurdles on his way to creating a successful business when he didn't have an income or enough capital to get started.

He knew from the very beginning that his business was not going to grow if he didn't have another income to support it. He also knew that working a full-time job would take up too much of his time and this would delay his eventual success, probably by several years.

So he came up with a plan to make money without taking up too much of his time.

His idea?

It was super simple. He contacted local restaurants and bars and offered to monitor their social media accounts for $50 a week. No writing copy, no strategy, just daily generic pre-scheduled posts to remind whoever liked the page that the bar/restaurant was still open for business.

The generic posts would say something like "Come in and try one of our 43 beers" or "We have the best burgers on the west side". These lines were provided in advance by the bar/restaurant management and all he had to do was post them and reply to any comments with equally generic responses like "thanks Jim!" or "hope to see you soon Sarah!".

The job worked because it was so cheap (what business can't afford $50?) and it saved the bar/restaurant staff time and hassle of having to monitor their social media accounts.

It was a no-brainer.

Now times $50 by 30 bars/restaurants and you will see how this simple task was used to make a very handy side income (approx 78K per year!) while building his business. In fact, that's exactly what he did. At any given time he would be servicing 30 clients which took up about 10 hours of his work week, leaving a whole lot more time to focus on his real business.

If you're considering doing your own thing and you get anxious thinking about all the hurdles you will encounter, take a minute to think about this guy. He could have very easily settled for a full time job to make the same 78K per year and never would have had the successful business he has today.

Ask yourself what you can offer a business that solves a problem for them? As you've just seen, it doesn't have to be difficult, it just has to benefit the business in some way. Then ask yourself how many clients you will need to create enough income to offset your job. If this can be done in less time than a full-time job, you know you're onto something.

Start with one client and give it go while you have a job. Then get one more client. Keep going until you feel confident enough in your own ability to quit your job and start pursuing your dreams.

Do you have your own story of success? Get in contact with us and let us know about it! We love hearing the success stories of our readers.