How to Quit Your Job and Start a Content Business (414)

Here's everything you need to know to quit your current corporate position and start a content business. My wife and I (and an amazing group of people) started Content Marketing World in 2011. This is the first year the event is not in Cleveland. I’m a bit sad about this move, but I totally get it. It’s so much easier to attract international travelers to a location like DC (direct flights in many cases). That said, I’m a Cleveland homer and want CLE to succeed (which is why our new event, Creator Economy Expo, will be in Cleveland in May). Instead of doing the same old “here’s how to be great at content marketing” speech, I decided to do something completely different. Over the past 12 months, I’ve been approached by so many marketers looking to leave the corporate world and start their own content businesses. I figure there will be many of these people at CMW as well. So, that’s my speech: The Blueprint on How to Quit Your Marketing Job. Here's a running list I put together on how to quit your marketing job and start a content business. 1. Don't quit your job until you've starting the process of quitting your job (see below). 2. Most fail. You need to know that. Half won't make it five years. 3. Those that do make it (as content creators) are incredibly happy (only two percent regret the decision). 4. First thing's first: Nail your story. Being a generalist doesn't work. What's your expertise? What will you be known for? 5. Think about: Who your specific audience will be? What will you send them? What do you want them to achieve? 6. Focus on something you can be amazing at and forget the rest. 7. Start before you quit: find the story, start your newsletter (maybe a website as well), build out your presence on LinkedIn. Be great at one platform. 8. If you have proprietary processes with your company (that don't belong to the company) save them on a personal drive. 9. Write down your goals and review them often. What do you see this becoming? How will you measure success? 10. Talk to your family. When you start a business, everyone is involved (like it or not). 11. Put aside at least six months of expenses. 12. Find a good accountant and lawyer. 13. Begin the process of lowering your expenses. Things like going to one car or ending one or two streaming services. 14. Actually start the legal side of the business (LLC?). You can do this before you quit. 15. Separate your accounting and finances now. Get a business credit card. 16. What will you do about insurance? 17. Check the agreement you have with your current company. What can you do with a business while you are still working a day job? 18. Make three lists: Mentors (people who've done it - successfully or not) to set up coffee meetings. Contacts (who can help refer business to you in the future) and Future Clients (who can help support your business financially in the future). Keep these lists fresh. 19. Generate revenue before you leave your job. The quicker to revenue the more likelihood for success. 20. When you are a month or so out (but make sure you are ready) have a conversation with your boss. "I love working here...but I'd like to start my own business in the future." Your goal, if possible, is for your current company to be your first customer. 21. Build your internal network at your company now. Odds are your first job will come via someone at your current company. The more internal champions the better. 22. The most successful content creators who leave a "real" job have many ways they generate revenue. The more the better. Top five are consulting, books, online courses and workshops, affiliate marketing and sponsorship. This episode is sponsored by Lulu.com If making money with your content seems like an uphill battle, I have good news. The 2023 Content Entrepreneur Research is out: Books are among the top 3 most profitable and most utilized tactics to monetize content.Turning your content into a printed book with Lulu has never been easier. Create a free account today at Lulu.com to get started. ------- Like this episode? SUBSCRIBE on Apple, Spotify or Google. See all Content Inc episodes at the Content Inc. podcast home. Get my personal newsletter today and receive the first chapter of my new book for free.