From J.O.B. To Passion Project in 4 Steps//
Jul 25, 2023
The scariest thing to me
Is when someone says
“I did it!! I quit my job to work on my passion project!”
And everyone cheers 
No one asks if they are financially situated to do so
The worst advice I ever hear from coaches is “Take the leap. The Universe will catch you”
What about our responsibility to hold and shepherd ourselves??
When I jumped into the abyss, assuming the Universe would catch me because I’d reached the end of my tolerance with being able to work in corporate America (all those different times)
I ended up homeless 4 TIMES!
What I assumed to be righteous indignation at having to do something other than what I was put on this planet to do
Was actually an intolerance for sitting in difficult or uncomfortable emotions for a long enough period of time to get myself safely financially situated.
It was avoidance.
Not liberation.
The weight of having to support your expenses will crush the life out of your new, fledgling business because it doesn’t have the capacity to support you yet.
So PLEASE! Don’t follow my example and put yourself in financial difficulty. Follow these steps instead (especially if you are the only breadwinner for your family)
1 ) Get an income source to cover at least 75% of what you were making in your job for 3-6 months. This might be a cash flow investment, someone else supporting you, or getting your new business income up to 75% of your previous income
2 ) Take all that extra money and stack it away in a savings account. Don’t touch it. It’s to cover your fluctuating months when you take the leap into working only for yourself.
Income fluctuates. You need a buffer to cover the down months.
Save 3-6 months of expenses (6 months of you are a single parent)
3 ) Get as much extra credit as you can and don’t touch it (except to keep the accounts active). This is an extra buffer on top of your buffer.
4 ) Keep your expenses down and spend less than you make. Your business income will have to cover health insurance, taxes, investments and retirement when you leave. Make sure to account for that in your budget planning.
It may take WAY longer than you expected to set yourself up this way but you’ll avoid dire financial experiences by doing it this way.
Plus you’re great.
You can do hard things
If you need a little extra help, come to my free class “Bulletproof Your Mindset” on Friday, July 28th at 9 am PST. Grab your seat here https://courses.abilevine.com/bulletproofyourmindset
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