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We’re talking about quitting your job and starting a business. Should you do it? Nate Woodbury is here to talk about that so tune in to get an insight from him based on his experience on his selling skills and how he got to where he is now.
Should you quit your job and start your own business? -That’s a big question. I’ve got an answer. That’s a life changer. Hey everybody, it’s Scott Christopher here joining… -I’m Nate. -Nate Woodbury. It’s his channel. It’s his video I’m just here to sit and listen and prompt with certain questions. -He provides the the good looks, the pretty face. -Wait a minute. Because I know the rest of that is somebody’s got to provide the brains and all pet shop boys on. -I’m complementing him and he turns it into insult. -I appreciate it but I know you’re lying because I am 51 rocking years old. Okay. So, we’re talking about quitting job, starting a business. Yes or no? -Yes and no. -Okay, wow. Thanks for committing. -Yeah, yes and no. There’s reasons for it to be a yes and there’s reasons for it to be no. -Of course, I mean a stupid question to ask because it’s not… There’s no cut and dried answer for anything. -If you really want to succeed in your business, you want your… Even if you’re doing something part-time, you want to quit your job and go full-time into this idea. It’s also… -Still yes or no. If you really want it to succeed, I think the answer has to be a yes. You’ve got to go full-time for it to really succeed. -Okay, I agree with that, yeah. -But… -But the security… -There’s some risk. -Yeah. -There’s some big risk associated with that. -Before you go, why are you specifically answering this question online today? Because normally you talk about YouTube and YouTube channels and how did it at that. Are we going to get into that at all? Is that where we’re headed? -Not YouTube… Not… We can. We can touch on that but this one is just entrepreneurship. Because I quit my job and I started a business. -Because you worked for the man, so to speak. This was not your company, it was someone else. You got a paycheck, okay. -Yeah. -Me too. -Let’s just start with the story and then we’ll kind of like dissect it and see what might apply to you. So, I had a sales job. I was… Well, didn’t even go back right before that. I was an independent contractor for natural companies.
So, I was kind of independent. I really like that freedom. I wanted to get a change and so, getting out of the financial world, selling insurance, selling securities and investments. -Selling anything for business, I would quit before I started. But that’s just me. -But I was good at sales and so I got a job doing telemarketing for a internet marketing company. I was actually really good at it. -Oh. -I made some good money. You see… You’re this thick-skinned. You didn’t care for everybody and America hated you and… -Well, here’s the thing. You have… Your you’re good at sales, you just must not call us sales because to succeed in anything you have to be good at sales. -I agree. No, you are right. You convinced your wife to marry you. -Okay. But let’s give it back… Let’s get back to telemarketing. So, I was… I was on the phone selling website design, selling searching and optimization. -Okay. -And I did really well. I actually made a pretty good living at it for a while but then they started recycling the leads that they were sending to me. The people that I would call. And my income started going down. Well at the same time that my income was going down because I wasn’t making as many sales on the phone, I had been experimenting. I advertised on my local classifieds, a website design service. Kind of a side story, I was selling a website to my telemarketing for $2,000. And I would follow up and find out that you know, a couple months later, they really didn’t have much of a website. It really looked lousy, you know, I’m like, I can create better website than that. So, I kept selling it at my job. But I advertised locally and found a… Found a person that wanted to pay 500 bucks for me to design them their websites. In fact, I got two clients. Design them a website, it was in Joomla. It’s kind of like WordPress but back then Joomla was better. And both my clients were happy. Okay. So, now my income up my job was going down because they were recycling leads. And I got behind on my bills. And I came to a moment where I thought, “If I go another month with the same income that I have here at my telemarketing job, I’m going to be in a bad… I’m already behind on my bills. I’m going to be even worse. This thing might work. I already… I tried it. This experiment selling websites on my own.” So, I took the plunge. I had a plan, I knew but it was, it was a risk that I took. I went home that day. And I told my wife, “I just quit my job.” You know? I didn’t consult with her beforehand. That’s kind of… That’s kind of a flaw that I have. It turned out okay. The company that I started, almost 9 years ago, now is the same company that I have today. Services have evolved. We don’t do website design anymore. But I went on that next month, I sold enough websites to catch up on our bills. And well more than some. We went on to you know, sell 20-plus websites every single month. Which is pretty cool. -Yeah, I know. -So, you would say yes in order to really, in order to really focus on what it is that you’re passionate about that you’re doing. If it’s on the side. -Here’s the reality. In the previous month before quitting, the total earnings that I had made from those clients was 350 bucks. Whether I think I might have a lot in the split payments or whatnot. And so, $350 had come in in that previous month. And that was enough to give me confidence to quit my job. So, that’s a big leap. -You were young then. -Mm-hmm. -Yeah. You probably didn’t have kids. -I did. I have one at least. Yeah, I had two kids. I had two kids. -Man, that you had a lot of faith. -But it was… I was kind of pushed out of the job. If I would have been making a lot more money I probably wouldn’t have taken that leap. But because my income at the job was going down, it’s like… I really didn’t feel like I had a better choice. It’s like, “I’m going to be worse off here anyway.” I have this idea. There’s a probably a higher likelihood of that succeeding.
So, I took the leap and I’m glad I did. -Let me not tie this into what is commonly the theme here as we do these videos. Which is being an entrepreneur but really it’s about you know, making money, making a living on.. Using YouTube as your kind of as your main platform. Whether it’s from pure Adsense because you have a bajillion people subscribing and watching your videos. Or you’re able to promote your own business or other revenue streams that we’ve talked about. The fact is, is that really a full-time worker who has security and benefits and all those things right that keep them grounded and happy spouses and family members could still do YouTube. I mean, not to the extent that we’re talking about… Generally, where it really does feel like a full-time job. I mean, if you’re putting… You putting up enough content. And if you’re handling the editorial yourself for heaven’s sakes, you’re spending a lot of time. But even if you were anchored still to the man, you could in fact, without having to quit your full-time job, you could still make supplemental income by doing, if you do it right. -My recommendation for most viewers is actually, “No.” -No what? -I wouldn’t recommend that you quit your job. -Okay, that’s what I’m saying. Just because you’re probably not ready. Now, I didn’t know for sure if I was ready but I had had some experience working independently. I knew how to sell and I had done some tests that had worked. And I thought, “Well, if I’d were to dedicate this, you know, 8 hours a day, I could easily…” You know? So, I had a plan but I knew what the risk was as well. And so my recommendation is to take steps. Maybe create an emergency funds. That would have been a good thing to have. -A little nest egg. -Create an account of funds that if something goes wrong you can still survive for a month or two. -Right. -You know? -The fact that… If you have any sales ability whatsoever, and if that’s the job, you’re thinking of leaving to go into this. And you have a nest egg. So, you have… You can sit down with your significant others. A map out. I’ve got… We’ve got 5 months. Worst-case scenario, this business does nothing for 5 months. We can live off of this. But you add to the fact that you have a skill like sales. You’ll always get a job. If you’re a salesperson. If you know how to sell, it’s almost job security. Truly. And you have the experience in a resume to back it up. -Well now… The reality is, I’ve got a lot of experience. I’ve got a lot of expertise. People pay me a high dollar amount for what I do. If I were to go get a job, I don’t have confidence that I could qualify for any job except for sales. -Right. -Like the stuff that you would put on a resume, it’s like… -Yeah, but every company is a sales company. You know what I mean? -So, I could easily get a sales job? -Exactly. Then you’d be fine. But luckily, you don’t have to. -Yeah. -And so, that’s the point is just be like Nate and you’ll be fine. Maybe that’s not the point. -Be like Mike. -Have I… Have I taken us down a different path? Is this not where you wanted to go? -This video went perfectly. Everyone there was like, “Man, this is the most valuable video.” They’re going to subscribe, they’re going to like rewind and watch it again. -And they’re probably going to quit their jobs tomorrow in search of the almighty YouTube dollar. -We’ll find out. Share on the comments below if you’ve had any experiences or anything like that. Whether you say, yay or nay. And we’ll see you tomorrow.