Why I Don’t Believe in Picking a Quit Date to Start a Business, Sorry Amy Porterfield

Transcription:
Second Act Success Podcast
Season 1 - Why I Do Not Believe in Picking a Quit Date to Start a Business | #241
Episode - #241
Host: Shannon Russell
Transcription (*created by Descript and may not be perfectly accurate)

[00:00:00]
If you are a fan of Amy Porterfield or if you've read her bestselling book, you know, she encourages readers to pick a quit date and put it on the calendar.
That is exactly the opposite of the advice I give my clients.
For many women, that might be the nudge that they need to finally take action. But let me pause to say clearly, I adore Amy. She has built an incredible business and helps women grow, of course, and I admire her so, so much. We share the same mission of empowering women to live life on their own terms, but when it comes down to how we actually guide women to start businesses, my approach looks so different, and that's okay.
While I respect her, I don't encourage my clients to circle a random date on the calendar and leap into the unknown. Here's why.
Before we dive into the why, I just wanted to say hello. My name is Shannon Russell. I am a business coach for women and [00:01:00] the author of Start Your Second Act.
I want to thank you for listening. I wanna thank you for leaving reviews, and I wanna thank you for spending your time with me. I want you to learn from this show on how to really build your second act in a way where you feel confident and ready to find that fulfillment that you deserve.
Let's get into the episode.

Here is why I don't believe in setting that random date on the calendar to quit your job and then just leap into a business. Number one, ugh. The pressure, the financial pressure alone will. Create that fear. Think about it. You're walking away from a paycheck. You're walking away from something steady without a plan, and that can turn quickly into stress, and it will.
I want women to be financially ready so that their business decisions come from confidence and not that desperation. Of, okay, I'm just gonna open this business because I think I will get my return on investment quicker. Or I'm just gonna launch into this because it [00:02:00] seems easy. No, no, no. I want you to.
Financially, feel free and get yourself to that place. So sometimes a client will come to me with a great business idea, but it's going to cost a lot of money to get that particular business up and running. So we talk about how much do you have saved? Maybe you earn that paycheck for another six months or a year before you actually go all in.
And in the meantime. We get the website going and the business name and register everything and, really start building the legs and the bones of that business so you're not losing traction, you're actually building while you're earning that paycheck. There's just a different way of framing it that can give you a lot more peace and confidence, and that's what I really want for you.
Also, I believe that business needs research. I talk a lot here about learning before you leap. Before you quit, I want you to validate your business idea. I want you to know exactly, without a [00:03:00] doubt, who you will serve, what your ideal customer or client needs, what they're willing to pay for that service or those products.
And skipping that step can lead to a lot of wasted time and energy.
Also owning a business is rewarding, but it's also very unpredictable. I usually want my clients to understand the realities so that they don't feel blindsided six months in. So the idea of just saying, well circle the date and that's the date that you're going to quit, that can lead to a lot of unknown, I don't want you to feel unsure.
And then have those regrets. The way I work with people is to really make that roadmap, make that plan, do it strategically and allow it to be really customized to you. Every one of my clients is on a different plan, a different path, and a different schedule. And the plan is going to be different because at the end of the day, entrepreneurship has ups and downs and it is unpredictable. So I want you to [00:04:00] feel as ready as you can be before you actually take that leap and launch that business, and especially before you quit your current job.
Let's talk about the meaning behind learn before you leap. So I'm talking about not only building your cushion, saving enough money to give yourself that breathing room during that transition. That's very important.
It's also important to research, again, your market, your business idea, and really what the day to day will be. I've had clients come to me with a great business idea, but then when we start doing the research piece and they start talking to other business owners who have run a similar business and they learn more about the behind the scenes, that's when they say, Ooh.
Some of them will say, that's not really what I thought it would be like, and they start testing those waters and realizing maybe I should rethink this and move on to a different idea. Not to say that that will be your experience, but again, you won't know that until you do [00:05:00] your research. You test your offer and you know that yes, this business idea of mine is validated, it's going to work, and I'm all in.
You also wanna make a plan, and as I mentioned, like a roadmap or a schedule, a timeline. This will help you figure out how your business will launch and grow and how long that might take you. some business owners won't actually pay themselves personally in their own personal bank account for.
18 months, two years, it can be a while. For my first business, I wanna say it was almost 18 months, because in the beginning, you're taking that money and you're putting it right back into the business and you're growing and maybe you're hiring people and you're scaling and you're getting more services, more products.
And so you wanna create that roadmap so you know what to expect. Six months, one year, two years in. And you can kind of have that, laid out and ready for you so you're not surprised as you're moving through the first [00:06:00] few steps of being a business owner.
Learning before you leap actually helps you to feel ready when you do finally give your notice. So It's not just a calendar telling you when to officially leave your job. It's you saying, you know what? I feel ready. I feel ready at this time. I now I'm ready to give my notice.
you're also wrapping up that part of your life. With a nice little bow, making sure you don't burn a bridge and doing everything properly in that arena as well. learning before you leap is just, it just makes sense. It's just making sure that you're leaping into something that is truly meant for you, that fits you and your lifestyle at this point in your life.
Mm-hmm.
Again, there are two paths that can lead to the same goal, and at the end of the day, both Amy Porterfield and I want the same thing for you. We want women to create that freedom, flexibility, and businesses that they love. Amy's [00:07:00] strategy is bold. It's action driven. She's obviously had a lot of success.
Obviously she's huge, but my strategy is. A little bit more personalized and intentional, and it's a case by case basis. I have individual clients that I work with one-on-one instead of a larger group of people that are a little bit more hands off. My strategy is intentional, it's personalized and it's, it really is research based,
but both ways, both roads can lead to success.
When I work with my clients, I want them to step into entrepreneurship knowing that they've done the prep work And when a challenge arises, and they will, that my clients are prepped and aware that they have the skills, they know what to do they have that confidence and that financial foundation that can help them get through those challenges, those ups and downs, , that sometimes you need that prep.
You need that accountability. You need that support and that coaching to [00:08:00] help you to get to that point.
my point in all this is that you can have more than one person you look up to. , You can feel inspired by Amy and her success,
if you feel inspired by Amy Porterfield's book two weeks notice, I encourage you to soak up her wisdom and use it as your motivation. I follow her, I adore her, but I also know that there are other approaches like mine that emphasize the planning, the financial stability, and the confidence piece before you take that leap.
you don't have to rush the process. You just have to start preparing. And I talk about it a lot in my book, start Your Second Act where I really talk about the strategy that I use in my coaching, and ways that you can go from where you are to get to where you want to be and what those steps can be to lead you there.
I find it interesting that we all have our different paths and none of them are better than the other. They're just different, but they all lead to the same goal, and I love that because at the end of the day, we are all [00:09:00] empowering you to find your best self to lead that life, that you are excited to lead and wake up to do the work that you're meant to do, and serve the people that you want to serve each and every day.
So remember before you take that leap, know who you are, know what's important to you, make sure that you are leaping when you are ready. That's how you build a business that lasts.
If this conversation resonates with you, I'd love to help you take your next steps. And inside my second act signature coaching program, I guide women through the process of preparing to quit their jobs, validating their business ideas, and launching with confidence. You can book a free strategy call with me I will link to it in the show notes below, or you can go to second act success.co/strategy, and we can talk about your situation, your goals, your business idea, and map out what you can do next to get started.
But for now, [00:10:00] my friends, remember, you don't have to leap before you're ready. You can learn first because when you prepare and research and build your confidence, you'll step into your second act, not just with that excitement, but with stability and peace of mind.
Amy and I might have different strategies, but we're both cheering you on
and I'll always remind you, learn before you leap. Until next time, keep producing your best life and I'll talk to you soon.
Speaker: Thank you for joining me for another episode of the second Act Success podcast. If this episode has you thinking about starting a business or growing the one that you already have, I offer free second ACT strategy calls. This is where we map out what makes sense for your business and your life. You can book yours now at second act success.co/strategy, or grab the link in the show notes below.
As always, thank you for being here. Until next time, I'm your host Shannon Russell wishing you [00:11:00] the best day ahead as you plan your second act. I'll see you on the next episode.