Following my dad's simple money advice helped me build a 6-figure business after walking away from a toxic job
Posted by The Editor on June 20, 2021 8:08 am
Tags: DFP, Entrepreneur, Freelancer, Money Advice, Personal Finance, Personal Finance Insider, pfi, PFI GOBankingRates, PFI Related Content Module, PFI-XAMP, Strategy
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- As a kid, my dad told me to think of my ideal lifestyle then work backwards to find a job I want.
- I thought I had my ideal life with a fast-paced corporate job, but it became toxic.
- I dreamed up an ideal life – with more time for family – then quit my job and started a business.
- Read more stories from Personal Finance Insider.
My dad, a fourth-generation Kansas rancher, shared some simple money tips with me as a kid that I've relied on again and again over the years. One tip was to figure out what kind of lifestyle you want and work backwards from there to find a job you actually want to to do.
For several years after graduate school, I worked at a breakneck speed, hoping my corporate job and salary would afford the lifestyle I wanted. The work was really fast-paced and fun for a while. I worked hard, put many aspects of my own life on hold, and really dedicated the majority of my time and energy to growing the business and my role in it.
Unwittingly, I chose a job I thought would get me the farthest the fastest, thinking I could get to a finish line that would allow me to then live my ideal lifestyle. My ideal lifestyle included resources and time to spend with family and friends, as well as time to travel, read, and write.
The reality of my lifestyle was far from what I'd hoped. The hours I put in at work didn't allow for much of a family life, let alone any personal travel or leisure reading. When I traveled for work, I never even got to see the cities outside of hotels, meeting rooms, and taxis. To be honest, it was a big bummer.
When the job situation became toxic and opportunities came crashing down because of some clashing egos, I told myself I'd never again be in a situation where someone else had so much power over my time. I had to do what my dad had always advised – (re)define my lifestyle and work backwards. I did, and it helped me walk away from a toxic job and build a six-figure business.
First, I decided what's important
For me, quality time with my husband and daughter (a toddler at the time) was at the top of the list of what was important. Commuting an hour each way every day for work (plus lots of time tethered to my iPhone when not at the office) was not working for me anymore.
After much introspection, I realized I wanted to work with small business owners to identify their own ideal lifestyles and help them work backwards, like my dad had taught me. I created a marketing strategy agency that, at the core, helps entrepreneurs define the intent for their life and business, then I help them build infrastructure and attract clients.
Starting this small business allowed me to merge my desire for meaningful strategy with my expertise in online marketing. More importantly, it now allows me to work from a home office and be home when my kids walk home from school. Since I don't have a commute anymore, I've reclaimed two hours every single day. And I've built systems and repeatable processes for my team and our clients so that I'm not tethered to my iPhone all the time.
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I surrounded myself with the right people
When starting my business, I looked for people who had similar values and wanted to accomplish similar things. When I met like-minded people with skill sets I knew I'd need in the future, I tucked their information away until I could hire them – graphic designers, web developers, content writers, even a bookkeeper. Years later, some of those first hires still work with me on a regular basis.
I remain flexible
Entrepreneurs in it for the long haul know that flexibility is crucial for sustainability. I prefer a flexible business model that centers around my own skill sets and what I want to spend my time doing – specifically, strategy work. Then, I hire independent contractors to help me implement all the pieces.
This flexible business model gives me freedom to pursue new projects and interests as opportunities arise. Our core business model remains the same, but I can add and subtract services when it fits what I want to work on. It also allows me to do a hard pivot when necessary, like when the 2020 pandemic hit.
Defining my ideal lifestyle has evolved over the years and will probably continue to evolve as the world – and my life and priorities in it – changes. But at least I now know how to evolve with it.