738 - The Illusion of Security in a Day Job and Its Consistent Paycheck

In this episode, I speak into the dilemma many people face when considering leaving the security of a day job to pursue full-time self-employment as a freelancer, coach, or consultant. I share my own experiences and insights on navigating the perceived inherent lack of predictability in self-employment, and how to address the concerns of a spouse who may be more comfortable with the stability of a traditional job.

Key Takeaways:

• I advise that many clients wait until your self-employed business is consistently generating the equal amount of income that you earn from the day job before leaving your day job, in order to provide that sense of financial security for your family.
• I share strategies I've used to manage cash flow and create a sense of financial predictability, such as my "Options, Not Obligations" (ONO) account.
• I emphasize the importance of having faith, trust, and expectancy in your ability to create opportunities and generate income as a self-employed individual.
• I discuss how my reputation, visibility, and relationships built over decades have provided me with an "unlimited number of opportunities" that would not be available in a traditional job.
• I share recent experiences of fluctuations in my business revenue due to changes in my paid in full pricing incentives, marketing, and client-serving approaches, and how I'm rebooting my routines to adapt.

If you're struggling with the decision to leave your day job and pursue self-employment, or if you're already self-employed and navigating the perceived inherent unpredictability, I hope this episode provides you with valuable insights and encouragement.

Remember, the path to fulfillment and financial security may not be linear, but with faith, trust, and adaptability, the possibilities are endless.

Next Level Mastermind

I invite listeners to click here apply for my Next Level Mastermind program for established self-employed business owners.

Group Coaching Program for Early Stage Entrepreneurs

I also have a group coaching program for early-stage entrepreneurs. Please email me at Cliff@CliffRavenscraft.com to ask for more details.