07 Nov
Posted by YC as Success, Make Money Online
You can fire your own boss too! But how?
Ever since I put a note in my bio alluding to the fact that I had left my day job, a constant question I received from online visitors has been “How did you fire your boss?”. Of course, the real question behind it would be how I managed to do that, despite the fact that things started from ground zero in terms of an online income. Till this day, even my off-line friends are curious and can only draw one conclusion.
It could be the huge gonads I had, or the backups in place. But it really is a mixture of many things that I have done to allow myself the security of such a move. It did not happen coincidentally or on impulse. The following includes what I have done to put myself in this position.
1. Treat the move similar to getting a new job or starting your own business
If you have such a mindset, the guarantee is that you will work hard from the start. Most would, if serious about achieving results as with any other ‘normal’ job.
2. Put down your ideas into definite plans, instead of hoping for the best and dreaming
Most people dream of being their own bosses and wonder why it never happens to them. Because those ideas remain dreams until they are cast in concrete plans to be followed.
3. Know what you are getting into
Whatever you decide to branch out to after saying your goodbyes, make sure time has been spent finding out the definite possibilities and returns. Research the area(s) and determine if it is what you like and can do. Educate yourself.
4. Build a golden nest egg
Things won’t always turn out your way, so be prepared for the rainy days. This is perhaps the toughest part as everyone has bills to pay and your present job might not allow you to save much. That said, there are many ways to grow on what you do have. Look for investment opportunities to put your money into. Spend less, save more. There could be many things that you do not really need but are spending money on - get rid of those. Which leads me to…
5. Prioritize your needs and wants
Ask yourself honestly what you really need and what the frivolous extras are. Is that car required just because it can get you everywhere faster, or because you do not want to leave the house earlier and hop on the bus? Is that mega feature-packed $1000 phone necessary when basic communication is all you need? You would save a lot more and contribute to your reserve by considering this.
6. Start even before you jump
Spend a few hours every day inside or outside of your job to put what you learned into practise on a smaller scale. It can help provide more insight and experience rather than diving straight in only after firing your boss.
7. Be ready to pick yourself up and dust yourself off
The right attitude goes a long way. If you want instant gratification, a better choice might be sex. But not working online. While you have control over many things doing so, be prepared to have to handle stuff you might never had to deal with in a day job (or at least mine). Like negotiating on money matters which affect you directly. Getting turned down on a big payoff. These obstacles lie in every turn. Get ready to be challenged and find out if you are a survivor.
8. Learn to deal with negativity
Unfortunately for most people, family and friends would be the first groups to be up in arms over such a move. The negativity stems from the fact that just about everyone has been brought up on the understanding that getting a stable, steady-paying day job is a critical step in building your future life. It is difficult (trust me, I know), but try to treat their concerns as valid - they want the best for you. Your parents do not want to see you go hungry. If certain friends get over-bearing with their negativity, do what is best for you and avoid spending too much time with them. There are those who will support and encourage you - appreciate them. Build your network of positivity with like-minded individuals.
9. Build your network now!
I did not do this enough, but the little I did helped a lot. All businesses thrive on networks. You should not restrict it to just the online community either. My external network helped to spread the word and provided advice in areas I had no expertise on. That should be reason enough to understand that no man is an island.
10. Pack a huge pack of, yes you guessed it - GONADS!
A huge factor preventing people from firing their bosses and venturing out on their own - fear. Fear of failure, fear of making the wrong decisions, fear of not receiving any help and support, fear of uncertainty. I have the same feelings even at times now, but without facing them would mean spending your life living in it.
I have actually ‘fired my boss’ twice although the first was to enter a totally different industry but a 9-5 job nonetheless. Wanting to work from home in terms of your own business and having to make every decision yourself requires much thought, desire and courage. A bit of madness too. You really need to spend constructive effort in determining if it suits you. If it does, I hope the above can help in small little ways to sending your boss off!
13 Responses
zhereford
November 8th, 2007 at 5:12 am
1All this talk about gonads is making me blush :), however it’s true! You need’em!
Great article YC. All relevant, helpful points!
Ken Xu
November 8th, 2007 at 5:47 am
2So true, so true! I’m doin’ those action now and soon I will be able to fire my own boss! Wish me Luck! :D
Marco Richter
November 8th, 2007 at 6:10 am
3Isn´t that what everbody would love to do. But why will 99.99% of them fail in firing their boss? They don´t get to action.
Caroline Middlebrook
November 8th, 2007 at 12:30 pm
4Ok and what do we do if we are the superior sex and don’t have gonads??
I have fired my boss a couple of months ago and I would like to share a tip. I had no way of building a nest egg, I simply didn’t earn enough to save very much - I calculaed it would take me 41 years to save enough to provide me with 6 months worth of living expenses!
Here is what I did instead - I used my existing equity in my house. In the UK I have a certain type of mortgage in which the mortgage and bank account are all one thing and this means that at any time I can borrow up to the amount of my original facility. In English, it means I can borrow off my house without needing permission or a loan - I just spend and it means it will take me longer to pay off my house.
If you are older and have very little savings but assets in property or similar, this may be a way to break free of the day job.
John Motson
November 8th, 2007 at 2:08 pm
5Good points in your post.
I think point 8 about learning to deal with negativity should be especially highlighted.
A lot of people give up on the first sight of trouble or things going wrong.
I have had things go wrong for me so many times, but I simply note down the lesson learnt, dust myself off and keep moving.
Caroline, I admire your courage. However, you still have to pay of that equity.
Chris Jacobson
November 8th, 2007 at 5:20 pm
6Great tips YC!
Jason A Clark
November 8th, 2007 at 8:53 pm
7I don’t think I have big enough Gonads yet…because there’s no way my wife would let me quit my job to blog full time. LOL
Josh Spaulding
November 8th, 2007 at 9:47 pm
8If you’re the superior sex and don’t have gonads then the guys in the locker room are going to have a good laugh lol just kidding Caroline, you’re great ;)
That’s possibly the best advice in the post. (not that the other points aren’t valid as well)
For the LOOOOONGEST time I was just doing a little here and there and didn’t really have a solid plan. Literally days after I decided to set goals, create a schedule and discipline myself when working online, I tripled my income!
For those reading this who are just starting out, that advice is golden!
Steven Snell
November 9th, 2007 at 12:25 am
9Nice article. Stumbled.
Teejay
November 9th, 2007 at 5:46 am
10Building a network is a must with freelancing. If you don’t do this, maaan… you will go hungry.
It will be a while until I fire my boss. Until then, I better build on my network.
YC
November 9th, 2007 at 3:25 pm
11@ Z - Thanks Z - I get a little naughty sometimes…
@ Ken - Don’t forget to buy me coffee when you achieve that! Should be anytime now round the corner!
@ Marco - Yup - they might even choke at the last bit - but I don’t blame them - social conditioning at its finest.
@ Caroline - That is a brilliant tip although we don’t have that in this part of the woods - but that is one way - finding means to have something to back you up so you have some measure of comfort to face the possibility of future uncertainty.
@ John - I wonder is it because many people do not want to learn how to get past problems? Too often I see people worrying about problems rather than working on them.
@ Chris - Thanks man! Hope they helped but I think you’re doing terrific!
@ Jason - Lol! That isn’t an issue of size ;) But I understand everyone has different priorities so it is not just about whether you are comfortable in doing so - the ones close to and who depend on you also need to be at the same level.
@ Josh - That step certainly helped me a lot as well. I can always notice the huge difference in my productivity whenever I don’t plan and do. More often than not, when a schedule is in place, the results are vastly improved as you rightly described.
@ Steven - Thanks for the stumble! :)
@ Teejay - Networking should be done throughout life - I wish you success!!
thehealthblogger
November 11th, 2007 at 12:54 am
12Thank you, Thank you, Thank you! I just had a really negative conversation with someone and i just got on the net and read point 8 in your article, Thank you, it cheered me up.
take care!
YC
November 12th, 2007 at 10:07 am
13@ thehealthblogger - You’re most welcome! I’m glad it helped brighten your mood! We can either look on the bright side or be dragged down by negativity - why let the latter stop us? Cheers!
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