When to Quit Your Job

By January 19, 2017 Uncategorized No Comments
People are often intrigued by real estate or other business ventures because of the freedom and independence these options can offer.  Compared to the average job, it looks pretty awesome.   The question is: how do you get from Point A (the job world) to Point B (entrepreneur)?
People often think it’s one or the other; that if you decide to become independent, you have to quit your job and go full time into your own business.  This is probably the reason most businesses fail in the first five years of operation.  How can you expect to be successful as an entrepreneur when you spent your whole life learning to be an employee?  (We will discuss mindset next week.)
The answer to the Point A to Point B question is this: go part-time.  DON’T QUIT YOUR DAY JOB!  At least, not yet.  When your business income surpasses your living expenses, then it is time to start planning a change. The first few years are the hardest, so it’s not a bad idea to use your job income to help fund your business, or at least keep yourself stable until it just doesn’t make sense to keep your job anymore.
If you are willing to invest your current free time into a new business, you are more likely to succeed than if you continue spend your evenings and weekends watching TV and going to BBQ’s.  The extra income can be used to pay down your debts and invest in passive income.  When the time comes to quit your job, the victory will be all the more sweet.
For your reading pleasure
Speaking of retiring. You might want to make real estate a larger piece of your retirement plan.  If you are going the traditional route, i.e. working 40 hrs/wk for 40 years and contributing to a retirement plan, you might want to be aware of some changes.  Millennials are now recommended to contribute about 25% of their income toward their 401(k)’s or similar plans and plan to work well past age 65.  This news also comes at a time when our young people are struggling to pay off school debt and afford ever increasing housing. Real estate is looking better than ever as a viable alternative!
You know Facebook has grown up when it gets involved in real estate.  Here are a few ways you can use fb to add a major boost your listing:
  • Create an event to promote your open house
  • Create a shareable album with photos so potential buyers can tag their agents or family.
  • Post a video of the home. Especially effective is a drone video that highlights picturesque views or proximity to open space.
  • Geo-targeted ads that target people who like the area or nearby features; or that alerts the neighbors who might not know otherwise that the house is available.  They might know someone who is looking!
The more potential buyers you reach the better!
See you soon,
 Evania Ku
303 338-8000
QUOTE OF THE WEEK:  

“Formal education will make you a living; self-education will make you a fortune.”

~Jim Rohn

 

Read the full newsletter here: 2017.01.13 – Friday Flyer – When to Quit Your Job

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