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Go With Your Head or Your Heart?

Name: Go With Your Head or Your Heart?
Uploaded: 2024-08-30T14:01:04+00:00
Duration: 43 s
Channel: Shanli Liu, CPA, CTP
Description: In this segment, Shanli Liu, CPA, CTP, advises entrepreneurs and career changers to avoid quitting their salaried job until their side venture…

30 Aug 2024 · 1 min

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In this segment, Shanli Liu, CPA, CTP, advises entrepreneurs and career changers to avoid quitting their salaried job until their side venture consistently generates income equal to their current salary for a sustained period (approximately three to six months). She emphasizes treating the existing paycheck as a safety net and using that cash flow to fund skill acquisition and experimental marketing—such as running ads, purchasing software, and taking courses. Liu recommends working intensively on the side project while still employed, reinvesting earnings to accelerate growth. Once the side business reliably matches or exceeds the salary with less time investment, she suggests making the transition, which can potentially multiply earnings.

Chapters

So you don't have confusion between your head and heart. You have conflicting priorities. You have to make a decision about which thing is more important to you and what risk you're willing to take. But I might give you more untraditional advice, which is until the school is making consistently, I would say like at least a quarter, maybe 6 months in a row, enough to match what you're making at your role, I wouldn't quit because that money is going to be gone. That flow of income is going to be gone. So you want to learn as many skills as you can using that money to experiment. So running ads, buying other software, buying courses, all of those things would be things that I would use those resources towards. So that would be my recommendation is do both. Work your ass off on school, take the cash from this, reinvest it in this. Once this matches this with less time, then when you make the trade, you'll be able to double or triple it.