Personal Finance Defined

So, clearly they didn’t take that advice and I’m guessing you didn’t either. But, I don’t think it’s necessarily bad advice, it’s just incomplete. So how about we change it to “Don’t quit your day job, until you have a plan to make money on your own terms” And that’s exactly what Amy Porterfield shares in her new book, Two Weeks Notice: Find the Courage to Quit your Job, Make More Money, Work Where You Want and Change the World.

But after reading it I discovered it wasn’t just a valuable guide for new entrepreneurs, it also served as a guide for existing entrepreneurs on how to maximize their revenue while also having time for the people and experiences that matter most.

And by the way if you’re not familiar with Amy, she’s the host of the Online Marketing Made Easy podcast. She’s also a speaker and trainer who teaches profitable strategies for building a highly engaged email list, creating online training courses, and using online marketing strategies to sell with ease.

We connected during this week’s episode of the Launch Your Business podcast and I’ve shared a few key takeaways below.

Courage over confidence

As an entrepreneur, confidence can be an incredibly valuable trait to have. But you don’t want to be cocky, this confidence must come based on lived experience. So if you want to build your confidence, just jot down 10 challenging goals you’ve already accomplished. This will serve as a reminder of what you can accomplish and how you’ve prepared for additional challenges.

Unfortunately, this advice is completely useless if you haven’t established a history of success yet. So what’s an aspiring entrepreneur supposed to do? Amy has your back.

“When you don’t have a track record yet, you have no proof, this is going to work. You’re going to take a leap of faith, you’re gonna have courage to move forward because you know you want it bad enough. And so we all have to start with courage over confidence because courage will absolutely be there before confidence ever will.”

So if you’re feeling hesitant to take that next big leap, keep this in mind; courage over confidence.

Brainstorm ideas with a “Post-it party”

So now that you have the courage to quit, what should you do next? It’s time to start generating ideas for your business. And look, I realize some of you already have an operating business. You still should not skip this step! Consistently evaluating and revamping your business idea is the key to scaling and staying ahead of the competition.

How do you do that? Amy recommends a Post-it Party.

“Give yourself a moment of time where every idea that’s in your head comes outta your head and onto paper. It’s scientifically proven writing it down and physically putting it somewhere allows it to sink in even more. Put on some good music, and jot down every idea you have about the kind of business you want to create, what you want to sell, the kind of content you’re going to create, who you want to work with. And from there, you’ll see themes and things come together and you really gravitate toward what really lights you up”

This is also referred to as divergent and convergent thinking and its a great way to brainstorm while still tethering your thoughts to reality.

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So block off 20 minutes, get all those ideas out of your head, then zone in on the ones that will be profitable and fulfilling.

Making your first dollar

There are several ways to make money but you’ll make progress much quicker if you keep it simple. Again, Amy is here to help with that.

“Number one is you can do coaching and consulting. So you take what you’re good at or what you love to teach, and you can do this one-on-one or in a group setting. The other way that I’ve seen work really well is with a digital course. Let’s say you’ve gotten results for yourself or for somebody else, whether in your personal life or business life, you can put that into a course. So now you can teach instead of one-to-one, one to many. And if you’re looking to scale a business pretty quickly, digital courses are absolutely a great way to start.”

These are great ways for you to make money with little to no startup cost, but Amy has another idea for you.

“Now, the third way is one of my favorite ways, and it’s a workshop. So a workshop is an hour long training based on just one area of your expertise. You can charge 47 bucks for it, 97 bucks. You can do it live and then record it, and then sell it afterwards. So sell it live and then sell it recorded, but it’s just one hour of you teaching something and then maybe doing some Q and A.”

I love this approach because it also allows you to avoid failure. You can promote the workshop weeks in advance if nobody shows up, don’t build the workshop! Instead, determine what tweaks you need to make in order for your audience to be interested.

What Amy wishes she’d learned earlier

Your network is your net worth. And while many people spend time building their network, they often don’t dedicate time to nurturing their network. Amy shared advice on how you can get the most out of your network.

“My best advice I can give you now; cultivate those relationships with lots of value and ask for nothing in return, and you will always reap the benefits.”

Here’s an easy way to get started. Think of 10 people who could help you build your business in the future, then find a way to provide value to them now. This strategic patience will undoubtedly pay off in the long run.

Next Steps

Want to learn more from Amy? First, listen to the full interview below.

Then, check out her new book, Two Weeks Notice: Find the Courage to Quit your Job, Make More Money, Work Where You Want and Change the World.

Lastly, be sure to tune into her podcast Online Marketing Made Easy where you’ll experience expert interviews, mini-execution plans, and intimate behind-the-scenes secrets from Amy’s biggest launches.

I wish you the best of luck and feel free to connect with me on LinkedIn or Instagram!

To hear the full conversation and get access to additional resources tune in to this week’s episode of the Launch Your Business podcast.