David Shriner-Cahn of Smashing the Plateau joined me on Ditching Hourly to talk about how longtime corporate execs can increase the odds of going out on their own successfully. 

Key Points

• Taking the leap into entrepreneurship can be daunting, but with the right support and mentorship, it is possible to build a successful business.
• It's important to decide whether you want to look for another job or truly commit to building a business, as both require different mindsets and energies.
• Make the decision between being your own boss or maintaining the comfort of a steady paycheck.
• Understand the differences between being an employee and an entrepreneur.
• Identify your current stage in the transition and determine any obstacles holding you back.
• Validate your business idea by having conversations with people in your target market, industry experts, and potential clients.
• Joining a community of like-minded entrepreneurs can provide collaboration opportunities and support.

Best Quotes

"My mission in life is to help corporate refugees start, run, and grow their own businesses so they can do more of what they love and get paid what they're worth."

"I was doing what I was taught to do in engineering school, which is to focus on solving engineering problems. What I didn't focus on was the fact that the company that I worked for had lost a huge portion of their business and ended up firing a significant chunk of the staff."

"In those days, the model was you went to work for one of these big companies, and if you stayed there, usually it was like 20 plus years, you were eligible to receive a pension. And in those days, pensions were a defined benefit. So you really needed to be with one of these companies for a long time."

"I really wanted to figure out a way to just be in control of my career and my family's financial health in a way that I knew that I wouldn't be as an employee."

"At some point, you need to make a decision about whether you're going to look for another job or build a business because they require very different mindsets and activities."

"What's way better is to talk to three kinds of people about the problem."

"If you're looking for something that you can sell in your sleep, you know, an evergreen, like a digital product, then it would be a do-it-yourself."

David’s Links

• https://smashingtheplateau.com/
• https://www.linkedin.com/in/davidshrinercahn/
• https://twitter.com/smashingplateau

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