How to Quit Your 9 to 5 Job (& Make MORE Money)
Summary
TLDRThis video script is a motivational guide for those dissatisfied with their 9-5 jobs, encouraging them to consider entrepreneurship. It debunks the myth that starting a business requires significant capital, instead advocating for a service-based business model. The speaker outlines a strategic plan, including assessing one's current income, identifying high-value skills, building a portfolio, creating a professional website, and marketing services online. The ultimate goal is to reach a point where the side business can replace the traditional job, offering time freedom and potentially higher earnings.
Takeaways
- 😀 The video encourages viewers dissatisfied with their 9-5 jobs to consider entrepreneurship as a path to greater job satisfaction and financial freedom.
- 💼 It dispels the myth that starting a business requires a significant amount of capital, suggesting that there are cost-effective ways to begin.
- ⏱️ The video outlines the importance of understanding your current income and the expenses you need to cover to maintain your lifestyle without a 9-5 job.
- 💡 It advises viewers to keep their current job while they start building their business to ensure a steady income during the initial phase.
- 🚀 The speaker recommends focusing on service-based businesses (SBBs) over passive cash flow businesses for faster results and a quicker path to quitting the 9-5 job.
- 🛠️ The video emphasizes selecting a high-value skill (HVS) that is in demand, solves a significant problem, and is not easily replicable by most people.
- 📈 It suggests starting by offering your service to a few clients for free to build a portfolio and gain testimonials, which are crucial for attracting future clients.
- 🌐 The necessity of having a professional website to showcase your work, reviews, and provide contact information for potential clients is highlighted.
- 📢 The video advises on the importance of advertising your services on platforms like Craigslist and Facebook Marketplace to reach a wider audience.
- 💰 As you gain experience and positive reviews, it's important to increase your service rates, which can significantly boost your income over time.
- 🔝 The video concludes by stressing the importance of excellent customer service as a key differentiator that can lead to better reviews and more referrals.
Q & A
Why might someone want to quit their 9-5 job according to the video script?
-The video suggests that many people dislike their 9-5 jobs and feel trapped, often dreading the start of the workweek and looking forward to the weekend. This dissatisfaction with a significant portion of their lives can lead them to seek a change.
What is the 'Rat Race' mentioned in the script?
-The 'Rat Race' is a metaphor for the relentless pursuit of financial success and social status in a competitive environment, often at the expense of personal well-being. The script encourages viewers to escape this cycle by starting their own businesses.
What is the myth about starting a business that the video aims to debunk?
-The video aims to debunk the myth that starting a business requires a significant amount of money. It suggests that there are cost-effective ways to start a business with minimal upfront capital.
How much money does the example in the script suggest you need to make per week to replace a typical job income?
-The example given in the script suggests that to replace a typical job income, one would need to make approximately $1,200 per week.
What are the three types of businesses discussed in the video script?
-The three types of businesses discussed are the 'needle in a haystack' business, the passive cash flow business, and the service-based business (SBB).
Why does the script recommend against starting a 'needle in a haystack' business?
-The script recommends against starting a 'needle in a haystack' business because it typically has one winner and many losers, often taking years to see results, which is not ideal for those looking to quickly transition from a 9-5 job.
What is the difference between a passive cash flow business and a service-based business according to the script?
-A passive cash flow business takes a long time to build and starts slow, while a service-based business sees results much faster with a steep incline at the start, making it more suitable for those wanting to quit their job sooner.
What is the importance of having a high-value skill (HVS) in a service-based business?
-A high-value skill (HVS) is crucial because it solves a significant problem for people and is not something most people can do. This allows for higher charging potential and makes the business more rewarding and easier to grow.
Why does the script suggest doing a service for free initially?
-The script suggests doing a service for free initially to build a portfolio and gain testimonials and reviews, which are essential for attracting clients and establishing credibility for the new business.
How does the script recommend advertising services for a new business?
-The script recommends advertising services on platforms like Craigslist, Facebook Marketplace, and other online marketplaces to reach potential clients, while also having a professional website to showcase work and build credibility.
What is the significance of excellent customer service in a service-based business as per the script?
-Excellent customer service is significant because it influences client satisfaction, reviews, and word-of-mouth referrals, which are crucial for the success and growth of the business.
Outlines
💼 Escaping the 9-5 Grind
The speaker encourages viewers to quit their 9-5 jobs if they're unhappy, sharing their own experience of quitting within two months. They emphasize the common dissatisfaction with jobs that consume a significant part of life. The video is aimed at those who want to start their own business or are unhappy with their current employment. The speaker offers a free business blueprint for starting a business with minimal upfront capital, debunking the myth that starting a business is expensive. They guide viewers on calculating their current income, necessary living expenses, and suggest keeping the job while starting a business to ensure financial stability during the initial phase.
🚀 Choosing the Right Business Model
The speaker discusses three types of businesses: high-risk, high-reward 'needle in a haystack' businesses, passive cash flow businesses like blogs or real estate, and service-based businesses. They advise against the high-risk model due to its long gestation period for results, which can deter many from continuing their entrepreneurial journey. Instead, they recommend focusing on either passive cash flow or service-based businesses. The speaker then compares these two options, illustrating the slower growth of passive income versus the quicker, steeper growth of service-based income. They conclude that service-based businesses are more suitable for those looking to quit their jobs sooner rather than later.
🛠 Building a Service-Based Business
The speaker outlines a strategic plan for starting a service-based business (SBB). They suggest picking three skills and choosing one to develop, emphasizing the importance of selecting a high-value skill (HVS) that solves significant problems and is not commonly known. The next steps include becoming very good at the chosen skill, offering free services to build a portfolio and gain testimonials, and creating a professional website to showcase work and attract clients. The speaker also recommends advertising on platforms like Craigslist and Facebook Marketplace to reach potential customers, highlighting the importance of excellent customer service as a key differentiator.
🌟 Transitioning to Full-Time Entrepreneurship
The speaker discusses the transition from a 9-5 job to full-time entrepreneurship, focusing on the importance of building a service-based business that can generate sufficient income to replace the job. They emphasize the value of charging competitive rates for services, with the potential to increase these rates as experience and reputation grow. The speaker also touches on the scalability of service-based businesses, suggesting that they can evolve into larger operations with a team of service providers. They encourage viewers to take action, use the provided resources like the free business blueprint and website hosting deals, and persist in building their business while working, with the ultimate goal of achieving financial independence and job satisfaction.
Mindmap
Keywords
💡9-5 job
💡Entrepreneurial itch
💡Rat Race
💡Time Freedom
💡Service-Based Business (SBB)
💡High Value Skill (HVS)
💡Portfolio
💡Testimonials
💡Passive Cash Flow Business
💡Customer Service
💡Outsourcing
Highlights
Quitting a 9-5 job can be liberating and is a common desire among many people.
The speaker quit their job after just two months and never looked back.
Disliking a job that takes up a significant portion of one's life is a common dilemma.
The video aims to help viewers escape the 'rat race' and find fulfillment and financial success.
A common myth is that starting a business requires a lot of money, which the video aims to dispel.
The video provides a step-by-step guide to starting a business with minimal upfront capital.
Calculating your current income and necessary living expenses is the first step to financial independence.
The importance of keeping your job while starting a business to ensure a steady income is emphasized.
Three types of businesses are discussed: needle in a haystack, passive cash flow, and service-based businesses.
Needle in a haystack businesses are high-risk with many potential failures.
Passive cash flow businesses can take a long time to start generating income.
Service-based businesses offer faster results and are recommended for those looking to quit their job sooner.
The video illustrates the growth trajectories of different business types to show why service-based businesses are ideal.
Picking a high-value skill (HVS) is crucial for a successful service-based business.
Becoming very good at your chosen skill is more important than being an expert when starting out.
Offering services for free initially can help build a portfolio and gain valuable testimonials.
Building a professional website is essential for showcasing your work and attracting clients.
Advertising your services on platforms like Craigslist and Facebook can be effective for client acquisition.
Charging clients appropriately for your work is important as you gain experience and reviews.
Providing excellent customer service can differentiate you from competitors and ensure repeat business.
The video concludes with encouragement to take action and start designing one's ideal life.
Transcripts
quit your 9-5 job because let's face it
you hate it after working a 9-5 job for
Just 2 months I quit and never look back
no but seriously if you're like most
people you wake up each morning thinking
hm I need to go to work or how many days
until the weekend and don't forget the
dread you f on Sundays because guess
what the whole cycle starts over on
Monday now this is an extremely common
dilemma extreme dislike for something
that takes up a third of your life or
more and I mean you're watching this
video because you're trying to design
your best life and a crap job is just
not going to cut it now if you like your
job stop watching this video or if
you've never had the entrepreneurial
itch of starting your own business then
yeah click out of it but if you don't
like your job or you've always wanted to
do your own thing I think you're going
to find this video extremely valuable I
know you will because this is exactly
how you can get out of the Rat Race do
something you actually enjoy have time
Freedom feel way more fulfilled and just
make a lot more money and guys if you
want my free business blueprint I'll
have a link down below it'll cover all
the steps you need to actually start
your own business today so there's a big
myth that it costs a lot of money to
start a business but in this video I'll
show you a proven way that actually
works while costing you barely any
upfront Capital this is absolutely false
so let's work backwards because it's
going to help you understand how much
money you need to survive without your
job so the first thing you're going to
ask yourself is how much money do you
currently make at your job write that
number down and let's say for example
we're going with $660,000 at 40 hours
per week this means that you're making
about $30 per hour and that equates to
about $240 $ per day that you're working
so 5 days per week if you have lower or
higher numbers than this then it's going
to be a littleit different but this is
just the example that I'm going to use
now to replace your current income
you're going to need to be making this
much money 5 days per week on average so
in this example it's going to be about
$1,200 per week so let's write that down
$1200 per week just four different ways
of looking at it the next thing we're
going to do is figure out how much money
we need to live so essentially what
you're going to do is add up all of your
recurring bills so let's go ahead and do
that here bills so it could be something
like your rent your mortgage you're
going to have your food your car so
Transportation cost gas whatever
utilities we're going to add all that up
and then add 15% just to be safe let's
say we add this up and it equates to
2.5k per month that's going to be about
$600 per week that we need to survive I
guess 625 to be more exact so while
you're doing all this brainstorming you
need to still be working please please
please keep your job keep that income
coming in because when you start a
business there's definitely some Delay
from actually working to seeing actual
results so I want you guys to decide
what type of business you're going to
start while working and actually start
building that business while keeping
your job this is super super important
so let's go over the three different
types of businesses you need to be aware
of the first is the needle in a Hy stack
business in this case there's basically
One winner and a bunch of losers these
are usually your unicorn companies like
apple Facebook whatever think about all
the number of social networks that tried
to start yeah like 99% of them failed
second is your passive cash flow
business so this is going to be
something like a Blog YouTube channel a
real estate portfolio stuff like that
and third is going to be your
service-based business this is exactly
what it sounds like doing some type of
service for a client this could be Web
Design Services it could be photography
making videos for people painting homes
cleaning cars the list goes on now the
first thing we're going to do is rule
out the needle in the Hast stack
business I do not want you guys to focus
on the type of business I myself do not
have any experience with this I've never
built a crazy big company like that and
I think for most people that is not the
way to get into entrepreneurship the
biggest reason why people quit their
entrepreneurial journey is because they
don't see results fast enough and with
those types of businesses it's very
likely that you won't see results for
years so that leaves us the other two
and now what we're going to do is
basically compare the pros and cons of
these two types of businesses so we're
going to have SBB service-based business
and we are going to have passive cash
flow business let's draw a graph and
this is just going to illustrate this
whole point while talking about the pros
and cons here we will have time and here
we will have results so just say money
so starting with a passive cashow
business this is basically what it's
going to look like it's going to start
off really really really slow you
probably won't see much results at all
and at some point it's going to go up
like that right this is essentially zero
and then with the service based business
it's going to be something more like
this okay like that should be like that
and at some point it can also go up like
that what you can immediately see is
that the service based business sees
results way way way faster right we have
this really steep incline at the start
whereas with the passive cash flow
business it takes a long time to build
that and while the passive cash business
is amazing don't get me wrong it's just
that for people with a 9 to5 it's
probably not the best thing to do
especially if you want to get out of
your job as soon as possible let's also
introduce your current income so CI
let's say that's something like this
right slowly goes up over time and we'll
mark that as 60k for example now the
thing you want to ask yourself is how
long do you wait until you actually quit
your job for most people if they don't
like their job they're going to want to
quit as soon as possible right they
don't want to be stuck in that job for
that long so this is basically that
point where the service-based business
income exceeds the current income from
working your 9 to5 job this might not be
the scale because makes it seem like
it's not that long but this can be a
month it can be 3 months 6 months 12
months it can be even longer the main
point is that this is just much much
faster than this time it takes for the
passive cash flow business to exceed
your current job and if I come over here
there's going to be this little point
right here where the passive cash flow
business can actually exceed the service
based business income you might be
thinking this is probably capped out for
the service based business but you can
actually make it go up like that and
we'll talk about that later on this
video so as you can see the real winner
right here is SBB service based business
this is what we're going to go after
this is the best type of business to
start for beginners and hopefully this
illustration makes it quite clear so now
that we've settled on a service-based
business let's plan how we're actually
going to strategically carry this out so
step number one is to pick three
different skills and then settle on one
of them easier set than done but let's
talk it out I want to give you guys some
inspiration because a lot of people they
get stuck at the spot they're like I
don't know what things I can do but
chances are you already have a ton of
skills in your tool belt you just
haven't really thought that they can be
possible businesses so we have
photography car washing cleaning windows
web development graphic design being a
handyman consult in tutoring power
washing videography the list goes on the
main thing is that whatever skill you
choose it needs to be a high value skill
H vs that's what I call it it needs to
solve a big problem for people and it
needs to be something that most people
do not know how to do for example a low
to medium value skill be something like
babysitting it's something that most
people can do doesn't take that much
technical expertise and so that's why
it's not an hvs I will make one
important note the last thing you want
to do is pick a low value skill that is
very capped in how much money it can
make you yes you can still build a
fantastic business doing it but for me
I'd way rather pick a high value skill
it's just going to make the whole
process a lot more rewarding and easy
and we'll know it should be something
that you do enjoy doing so once you pick
that skill the second step is to get
really good at that skill now please
note that I said very good and not an
expert you do not need to be an expert
at anything in order to charge for your
services you just need to be very good
sometimes even good is good enough of
course how long this takes depends
entirely on your starting level it's
going to depend on how fast you learn as
well as how much effort you put into it
this is something that I always tell
people it's to watch YouTube in the
morning aka learn and then in the
afternoon that's when you actually apply
it and do all the Hands-On stuff so take
information into your brain in the
morning and actually use your hands to
do it in the afternoon step number three
is to do this service or skill for at
least two to three clients for free some
people will say don't work for free but
in my opinion it is totally okay to do
this for free to build up your portfolio
yes it's going to be unfair because
you're doing a service those people are
going to you know get something without
actually spending any money but what you
do need to ask them for is a great
testimonial testimonials and reviews
these can make or break a business
especially at the start so you can get
two to three fantastic reviews or two to
three different case studies with videos
that you can post on your website then
this is going to be ideal this is going
to be a big game changer for example
when I started photography I did so many
free shoots at the start I built up my
skills and then I started charging money
and that sort of takes us into step four
which is to actually build your own
website having a Business website is so
so important for getting new clients
it's exactly how I've built all of my
service-based businesses and yeah you
need to show off your work you need to
show off your reviews your case studies
have a place where people can actually
see your info contact you book you
frequently ask questions and things like
that so I'll say that by the time I made
my first million dollars with
entrepreneurship I'd probably made at
least 20 plus different websites now
I'll say marketing is so important this
is a big mistake I made when I was
starting out and having your own
websites is a huge portion of your
marketing if you're watching this video
I have a fantastic deal for you through
hostinger it's why I used to host almost
all of my own business websites and yeah
if you click on the link down below it's
going to be somewhere in the description
you'll be able to create up to 100
different websites with just one plan
that is about $3 to $4 per month and if
you use code Charlie Ching at checkout
that's going to take an even bigger
discount and a really professional
looking website is only going to take
you a few minutes to make using their AI
website builder it's actually so easy
you don't need to know how to build
websites all you have to do is tell the
AI what you want on your website you can
pick a template if you want to it's
going to generate a bunch of text and
build out the foundation of your website
and you can go in make some quick edits
put in your portfolio and then bam you
have your own business website this is
seriously going to be the one place that
most of your clients find you and
actually book you from so please please
please do not skimp out on your website
and please take advantage of that deal
because it's insanely affordable again
one hosting your plan allows you to
build up to a 100 different websites so
if your first business doesn't work out
or you want to start a second business
or third or fourth just use that one
plan and create more websites okay step
number five is to advertise your
services on Craigslist Facebook
Marketplace and any other online places
to do the step of course you need to
have your own website this is seriously
going to help your conversions a lot and
a lot of people they are super surprised
when I tell them to post on Craigslist
in Facebook Marketplace but this is
actually where I've gotten a lot of my
own clients I've made hundreds of
thousands of dollars just from clients
on Craigslist and Facebook and
essentially the funnel is you post on
those sites you link to your websites
they see your work and then they contact
you if you're doing a service that is
not super in person then you can
absolutely post on other sites like
fiver or upwork that can be a great way
to to start getting your first clients
so step six is you want to charge your
clients for great work the great thing
is that as you get more experience as
you get more reviews your prices will go
up they should go up for sure and don't
worry because like when I started
tutoring I was charging between $25 to
$30 per hour this is when I didn't have
a portfolio I didn't have any client
reviews and then at the end I was
charging between $50 and $60 so
essentially doubled and this was in 2015
by the way so the rates right now would
be quite a bit higher just know that
this is the lowest you will ever make
per hour with your service or skill
every idea I said before everything can
be over $100 per hour and let's say your
goal is to reach $60,000 in annual
revenue at $100 per hour you only need
to work 600 hours in one year so that's
about 11.5 billable hours per week or if
you're able to charge $250 per hour
which is extremely doable it's basically
what I was charging when I stopped
freelancing that means you only need to
work 7.7 hours per week to make $100,000
in one year or let's say you charge
$33,000 per event for example graphing a
wedding you only need to work 40 events
per year to make $120,000 and so you see
where the importance of having that hvs
comes in because the more valuable that
high value skill is the easier it is to
charge $250 even $500 an hour in many
cases number seven is service beats
everything so even if you're not the
most skilled you will have the best
customer service customer service is
something that you can't really teach
that personality that how to talk to
people and making people feel good but
you can absolutely learn the skills as
you do the job that's why it's so
important to prioritize the service
because how you leave people feeling at
the end of the day that's what's going
to influence the reviews that's what's
going to influence how many people they
tell about your services and ultimately
the success of your business so you're
going through all these steps building
up your service-based business and once
you start making enough money that is
when you can quit your job and yes it's
going to take incredible sacrifice while
you're working both your job and
building up your business but I
guarantee you at the end of the day it's
going to be so worth it now you can
basically choose how much do you want to
work many of these service based
businesses can also be completely remote
you can make your own schedule you can
take days off whenever you want you can
choose who to work with there's no boss
looming over your shoulder and when done
right the hourly rate for your services
it's likely going to be way way higher
than your previous hourly rate so yeah
just note you guys this is not a sexy
business it's very hard to start off
sexy there are some people that do it
it's a lot of luck but for most people
like 95% plus of people this is the
blueprint you need to follow because
this will almost guarantee that you can
leave your job it has a very very high
chance of being successful now if you
want to be sexy there are many ways to
do it with any service-based business
I'll go over this really quickly but I
did want the bulk of this video to be
focused on actually getting started
because I think that's what's going to
be most relatable for most people
watching the video but just know that
with your business even if it is a
service-based business it can absolutely
grow it can turn into an actual business
it can turn passive it's just going to
take more time and actually hiring a
team of people right so think about if
you can have your service-based business
but you have multiple service providers
doing the work for you then at some
point you're not going to have to be
trading your time for money you're just
going to have to manage the people
you're going to have to build the
systems to manage the people and that's
basically how every Big Business works
you'll find that likely many parts of
your business can be outsourced to
overseas so you can hire admin support
project managers graphic designers web
design editing Services you know
customer support a lot of these roles
can be hired overseas that's just going
to save you a ton of money how do I know
this because on my team of about 60
people almost every single person is
overseas the key word here is aage
you're hiring other people to do tasks
for you so that you are not trading your
time for money every very rich person
has no idea how much money they are
making per hour so that's the end goal
that's not the goal right now when
you're starting out but just know that
that is where you want to get to in the
future one thing I do want to know is
that as you're building your first
business you are learning so many new
skills it is actually completely okay if
your first business does not do that
well if it Fizzles out you can do a
second one you can do a third one the
great thing with these service based
businesses is that there is very little
risk there's a essentially no money risk
it's just all your time and energy so if
you keep at it while working your job at
some point it is guaranteed that you'll
be making enough money to quit you just
need to persist until that happens yeah
overall starting a business it's
definitely something that a lot of
people think is extremely risky and
that's mostly because they're thinking
about the needle in the Hast stack
business they think you need to invest
hundreds of thousands of dollars they
think most businesses fail but that
simply is not the case you're just
focusing on the wrong type of business
to get out of the Rat Race you need to
do something that takes less less risk
that takes less money and can guarantee
you an out essentially what I'm just
trying to tell you guys is that you need
to just risk your time and energy you
don't need to risk your finances and I
think that's the thing that's holding
most people back when it comes to
getting out of their job and then
actually starting their own thing so
everyone that's watching this video If
you seriously don't like your job you
don't enjoy what you're doing I really
hope you can find a new job or position
or you can just you know start doing
this build your own business Do Your Own
Thing using the steps in this video at
some point you will be able to quit your
job it's truly my biggest wish that
everyone in the world that wants to work
for themselves and do their own thing
has the opportunity to do so because
yeah being an entrepreneur building your
own business has been one of the best
things I have ever done for myself I do
want to remind you we have a free
business blueprint Down Below in the
description starting business can be
pretty tricky there are many things you
need to set up and I'll show you exactly
what things you need to set up along
with big discounts in that guide and
also building a website is so easy and
so affordable nowadays so if you've been
thinking about having your own website
definitely check out that link down
below to hostinger make sure to use code
Charlie Chang at checkout website
hosting is about $4 per month and
something that every aspiring
entrepreneur needs to have all right so
I really hope you guys enjoyed this
video I hope you got some valuable
information from it I know we covered a
lot so maybe go through again take some
notes but yeah the biggest message I
wanted to leave you is to just go for it
take action you only have one life so
it's really important that you design it
and live the best life you can and yeah
your work is a third of your life so
might as well make that something you
get fulfillment from I am way more happy
doing the things I do today versus
working my corporate job and I hope you
get to experience that as well if you
got any value from the video make sure
to give this video a like and also
subscribe for more content just like
this I do a ton of videos about personal
finance entrepreneurship and investing
thank you so much for your time and I'll
see you in the next video peace
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