Creating your runway: How create a side project and quit your day job

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Presented at RISE Austin 2013.

The rat race is great for some people, but terrible for entrepreneurs. This session will discuss how to bridge the gap between your "day job" and living your dream of entrepreneurial freedom. At the end of this session, you should have inspiration and strategies to implement that will get you closer to that end goal of FREEDOM! Be warned- there will be a lot of tough talk about debt (get rid of it!), commitment (commit to yourself!), and exactly what an employee owes his employer and vice versa.

Peter Keller founded and launched FringeSport while he was employed at another job and he'll talk about how he came up with the idea for a side project, how he grew the side project, and how he finally quit to run FringeSport full time.

We'll also look at never-before-seen case studies of other people who quit six-figure jobs to be their own boss. Plus - we'll discuss resources and communities you can leverage for support when your parents and your spouse think you are crazy for quitting your "good job."

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Creating your runway: How create a side project and quit your day job

  1. 1. Creating your runwayHow to build your side project and quit your day job
  2. 2. Peter KellerFringeSportProductSimpleicaruspete@gmail.com@petekeller
  3. 3. The day my father was laid offfrom his corporate job was thehappiest I ever saw him.
  4. 4. I love my dad, but I won’trepeat that mistake.
  5. 5. I promise:Interesting actionablediscussion
  6. 6. I love questions,And the door is open- pleaseleave if you want to (really!)
  7. 7. Goal: Allow you to bridge the gapbetween your day job and aentrepreneurial venture
  8. 8. We live in a 401(k) world-Thomas Friedman
  9. 9. The LivingDirect /FringeSport story
  10. 10. I quit my 6 figure job with ahouse note, 2 car notes, 1kid, and a 3 month pregnantwife.
  11. 11. I am dumb.
  12. 12. You can be smarter.
  13. 13. How?
  14. 14. Adapt what is useful, reject whatis useless, and add what isspecifically your own.-Bruce Lee
  15. 15. Be smart, clever, anddifferent.
  16. 16. Don’t be unethical, illegal orimmoral.
  17. 17. What you owe your employer
  18. 18. Figure out your “job”
  19. 19. Write your own description ifyou need to.
  20. 20. Then figure out how to knock itout of the park with the minimumcommitment to your time
  21. 21. Hint: Management is hard.
  22. 22. Get excellent at getting otherpeople to do stuff for you.
  23. 23. Then start working theangles.
  24. 24. What your employer owesyou
  25. 25. Basically, a paycheck
  26. 26. They think they are buyingyour TIME
  27. 27. MONEY = How man keepsscore
  28. 28. TIME = How GOD keepsscore
  29. 29. So be selfish with your time
  30. 30. And sell your employersomething else
  31. 31. Your work product
  32. 32. How to find time
  33. 33. Do you play videogames, watch TV, read, surfreddit, facebook?
  34. 34. If you died tonight, would yoube proud of today?
  35. 35. I love the Four Hour WorkWeek
  36. 36. I don’t know how to live it.
  37. 37. All I know is how to berelentless, and work smarterand harder than anyone else.
  38. 38. But you can leverage yourself
  39. 39. EmployeesInternsContractors
  40. 40. OdeskElance
  41. 41. Platforms- creation andleverage
  42. 42. You need a platform
  43. 43. An email listA blog with an engagedreadershipA podcastA website with proven trafficA consultancy with a pipeline
  44. 44. Build this
  45. 45. Engage your readers
  46. 46. Think monetization from Day0
  47. 47. Eyeballs are worthlesswithout a plan
  48. 48. And you’ll get bored unlessyou’re getting paid
  49. 49. “Buy now” blogging
  50. 50. Look at what others are doingand steal it
  51. 51. Apply it to your platform, withyour mojo
  52. 52. Good artists copy; greatartists steal-Pablo Picasso
  53. 53. Examples
  54. 54. iwillteachyoutoberich.comnerdfitness.comimpossibleblog.com
  55. 55. FringeSportEat.Move.ImproveThe art of nonconformity
  56. 56. Adam Carolla ShowLifestyle Business Podcast
  57. 57. If you can’t build yourown, hijack someone else’s
  58. 58. AmazoneBaykickstarter (warning)itunes
  59. 59. Income, revenue, savings, and wealth
  60. 60. When I was corporate, Ithough I’d save up a pile ofmoney
  61. 61. Now I realize this sucks
  62. 62. YOU MUST SAVE
  63. 63. But
  64. 64. Better to create incomestreams that allow this
  65. 65. And give you freedom
  66. 66. Debt is what the 1% use tosubjugate the 99%
  67. 67. Which is cooler
  68. 68. A BMW now, or a millionbucks in 10 years?
  69. 69. Your runway
  70. 70. Budgeting, baselining, dreamlining
  71. 71. Geo-arbitrage
  72. 72. Travel hacking
  73. 73. Things vs. experiences
  74. 74. Consulting as a bridge
  75. 75. Savings
  76. 76. Burn rate
  77. 77. Debt
  78. 78. Seek first to understand, thento be understood-Stephen Covey
  79. 79. Pro tip: a good spouse isworth more than gold
  80. 80. Case studies
  81. 81. Cyclone Speed Rope
  82. 82. Effective Spend
  83. 83. Terry Lin (life change)
  84. 84. Adam Carolla Show
  85. 85. Didgeridoo Dojo
  86. 86. Ideas
  87. 87. ProductSimpleWatch company (MKIII)Apnea breathing
  88. 88. Travel accessoriesWatch bands and acc.Hacking your job
  89. 89. Water bottlesTooth brushesVO2 Max
  90. 90. Did you know the GoPro guyis a
  91. 91. BILLIONAIRE?
  92. 92. He didn’t invent the camera.He invented some straps.
  93. 93. Resources
  94. 94. The Four Hour Work Week22 Immutable Laws of MarketingRamit SethiRunning Lean
  95. 95. You are the average of thefive people you spend themost time with
  96. 96. You can do it
  97. 97. Find help
  98. 98. Meproductsimple.neticaruspete@gmail.com@productsimple
  99. 99. Onlinelifestyle business podcastredditTim Ferris blog
  100. 100. Thanks and good luck!

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