My 1st Month...
A little over a month ago I walked out of the office for the last time ready to embark on new beginnings - working for myself.
I was walking away from: a well-paid, secure income & good commission structure, a lively office environment, pension scheme, paid holiday entitlement etc... Everything I'd have ever known since entering the workplace after graduating from University in 2011.
For many this is seen as high-risk, but I was also walking away from: somewhere I needed to be for set hours, Management I had to appease and all those workplace politics. I know there are lots of people who love what they do, I have been lucky to work in some great organisations. Equally, I know many individuals who crave their next holiday, curse the Tuesday after a bank-holiday and Friday's don't come soon enough. For me, my decision to escape the 9-5 wasn't high-risk at all but a managed one.
You see I knew what I was going to be doing. I had a plan.
Many who know me personally, know my love of lacrosse and I would literally coach the sport, always & forever, for free - in fact, I often have! So when the idea sparked in me to put my passion into a business - I had to do it. I started early in 2019 kicking around ideas with my nearest and dearest, tested the concept with my target-market and began working out the best ways to commercialise my idea. The Uni of Lacrosse was born and will launch formally later in the Autumn.
With no customers, content and lots of work to do, it was still potentially a huge leap of faith, so I ensured before I hit the resign button I had several months funds squirreled away.
Additionally, about 4 years ago I started a part-time business, a side-hustle some might say as a Partner with Utility Warehouse - helping people save money on their household bills and in return I turn their lower bills into an income. The original plan was to grow it steadily with the royalty-based income, to eventually drop day's at work, buying back my time. Whilst this has started to happen, even with life getting in the way, I'm not financially free...yet!
The journey I have been on with my UW business though has taught me and given me unwavering confidence through much of the recommended reading and listening, (books such as: Owning Yourself, Grit, Rich Dad - Poor Dad + many more) importantly "if it's going to be, it's up to me!" Taking charge of my UW business whilst simultaneously launching UoL, I knew I could increase my weekly activity and with recent changes to the remuneration, I could also get my hands on some good NOW money too. The future after a 9-5 was still like jumping off a cliff, but now I had a parachute.
With my plan swinging in action - I got a message to consider a couple of days a week contracted work at Innov8 Technology - a former employer. With the laws of attraction kicking into overdrive, I said yes and began to take a running jump off that cliff, ready for action.
Some would think I'm doing a lot or spreading myself thin. I have had the thought myself at times. But multiple diverse streams of income are the way to survive the 21st Century - even Forbes recommends this!
Now it all paints a pretty picture - well it hasn't been all plain-sailing. It's taken months to get to this point and I nearly beat myself in week 1 - cramming the diary full, quickly realising I couldn't do it all and then stressing out about not doing some of the basics. Diary management is key and I have already learned to assign half-days to specific interests.
I've had to look seriously at what I was spending each month and make some choices just to give myself the best chance to a good start. And the separation between home and work is squeezed even more than when I was side-hustling - so I change the scenery from time to time.
What else have I learned?
Mindset is huge! I seem to have got my own just about right. A bad morning can turn into a good day (learned that one the hard-way) and now I acutely notice the difference between myself, happy to set-up meetings on the bank-holiday Monday vs. others who crave their Friday finish.
August was my best month with UW to date - it's amazing what a bit of focus and determination can achieve. Finally, I've learned a full mug of tea and a MacBook don't play friendly!
A final paragraph of cliches...
A good friend jests that I have 'retired'. I'm very much active! More so than ever, but now on my own terms. It is a challenge, nothing in life is guaranteed, but a man with a plan can. My late Grandma taught me: "Retirement is when you stop living at work and start working at living."
If you have made it this far, thank you for reading and if you want to know more about any of my business interests, please feel free to reach out directly.
Managing Director at Innov8 Technology Group Ltd
5 å¹´You are an inspiration Mike, and your determination to succeed has been an ever present since I very first knew you when you were putting in all those hours to be a regular England international !! It was a pleasure to support you then, and it is a pleasure to support you now. Great to be working with you again , win win !! ????
Great share , helping to inspire me on my new journey
Owner, Hubbleberry
5 å¹´Am sure you're already smashing it, Mikey...
Director at Ideal Solutions (NW) Ltd
5 å¹´Good luck Mike.
Proprietor at TriTech IT
5 年Good luck Mike, I know from years of working with you that you can make a success of whatever you set your mind to, as always I’m here if you need me ????