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Ma12: Quitting Your Day Job NOTES
For proper formatting (bold, italics, etc.) and graphics (where applicable) see the PDF version. Copyright: 2020 Retraice, Inc.
Ma12: Quitting Your Day JobMargin by Retraice1
On desire, fear and resources.
Air date: Thursday, 5th Nov. 2020, 11 : 25 AM Pacific/US.
Video experimentWe're doing live video today.
Quitting your jobIt's different for everybody.
Our storyFor years, one of us felt like we needed to do something drastic, i.e. actually quit to start the business.
The essential problemAre you ready and willing? It comes down to desire and fear.
Acid and fireThere's something burning inside entrepreneurs. It's acidic if it sits untended; it's combustible if something is done.
What it comes down toPerhaps it should be a matter of resources, calculations and planning. But in practice, it's about the burning.
Luck and escapeIf you're fleeing or chasing something, instead of rationally considering things, you'll need some luck after you quit, because things will go wrong. On escape, see Benson.2
More of our storyIt has taken much longer to get to this point than we predicted, and it's been an excruciating wait.
Getting out thereTo figure out how to do something worth doing, you have to go out and work. Too early, or too late, and you'll fail.
You're never readyHow 'ready' do you have to be? It depends. Experiment if you can.
Your estimations of time, money, people, energy, etc. is crucial. You should keep a huge margin of safety if you can.3 But most of us can't.
Entrepreneurs are risk-takersYou're probably not the ultra-prudent type. That's not how entrepreneurs are. The ultimate risk is the lost years of your life.
ReferencesBenson, A. C. (1916). Escape, and Other Essays. Echo Library. ISBN: 978-1847029010. Searches: https://www.amazon.com/s?k=978-1847029010 https://www.google.com/search?q=isbn+978-1847029010 https://lccn.loc.gov/15019279
Graham, B. (1973). The Intelligent Investor: A Book of Practical Counsel. Harper Business, 4th revised ed. Fourth edition 1973; this edition, with material from Jason Zweig, 2006. ISBN: 978-0060555665. Searches: https://www.amazon.com/s?k=978-0060555665 https://www.google.com/search?q=isbn+978-0060555665 https://lccn.loc.gov/2003047894
1https://www.retraice.com/margin
2Benson (1916).
3Graham (1973) chpt. 20.
View all episodes
By Retraice, Inc.For proper formatting (bold, italics, etc.) and graphics (where applicable) see the PDF version. Copyright: 2020 Retraice, Inc.
Ma12: Quitting Your Day JobMargin by Retraice1
On desire, fear and resources.
Air date: Thursday, 5th Nov. 2020, 11 : 25 AM Pacific/US.
Video experimentWe're doing live video today.
Quitting your jobIt's different for everybody.
Our storyFor years, one of us felt like we needed to do something drastic, i.e. actually quit to start the business.
The essential problemAre you ready and willing? It comes down to desire and fear.
Acid and fireThere's something burning inside entrepreneurs. It's acidic if it sits untended; it's combustible if something is done.
What it comes down toPerhaps it should be a matter of resources, calculations and planning. But in practice, it's about the burning.
Luck and escapeIf you're fleeing or chasing something, instead of rationally considering things, you'll need some luck after you quit, because things will go wrong. On escape, see Benson.2
More of our storyIt has taken much longer to get to this point than we predicted, and it's been an excruciating wait.
Getting out thereTo figure out how to do something worth doing, you have to go out and work. Too early, or too late, and you'll fail.
You're never readyHow 'ready' do you have to be? It depends. Experiment if you can.
Your estimations of time, money, people, energy, etc. is crucial. You should keep a huge margin of safety if you can.3 But most of us can't.
Entrepreneurs are risk-takersYou're probably not the ultra-prudent type. That's not how entrepreneurs are. The ultimate risk is the lost years of your life.
ReferencesBenson, A. C. (1916). Escape, and Other Essays. Echo Library. ISBN: 978-1847029010. Searches: https://www.amazon.com/s?k=978-1847029010 https://www.google.com/search?q=isbn+978-1847029010 https://lccn.loc.gov/15019279
Graham, B. (1973). The Intelligent Investor: A Book of Practical Counsel. Harper Business, 4th revised ed. Fourth edition 1973; this edition, with material from Jason Zweig, 2006. ISBN: 978-0060555665. Searches: https://www.amazon.com/s?k=978-0060555665 https://www.google.com/search?q=isbn+978-0060555665 https://lccn.loc.gov/2003047894
1https://www.retraice.com/margin
2Benson (1916).
3Graham (1973) chpt. 20.