Quit Your Job with Confidence!

The financial implications of owning and operating a business can seem overwhelming and straight-up daunting. 

Some people even have a nice cushy job, great coworkers, and a consistent salary, but you already feel the ceiling approaching.

Every day, you talk yourself out of leaving… “How could you leave?” others around you might even say.

So instead of leaving, you start exploring the next steps… Management. 

So you start investigating, but that really means all the business responsibilities fall on your shoulders without the upside, not to mention a minimal pay bump… not as enticing as you thought... I know it wasn’t for me.

What if betting on yourself wasn’t as risky as you thought…

Before we dive into anything further, we need to understand that risk tolerance lives on a spectrum. Some people stay safe with a salary and stability, and some people quit everything and go all-in. Neither option is right or wrong because buying into the risk strategy that works best for you will give you the highest chance of success to transition. 

Quiz yourself on a scale of 1 (minimal risk) to 10 (high risk), where do you fall? 

If you’re below a 6, I think this concept will resonate with you.  

Low-risk tolerance strategy

To implement a lowest risk tolerance strategy, we need to keep our overhead (expenses such

as rent) low. This means there’s minimal to nothing going OUT, but we get to keep whatever comes in. When I first started my side hustle, I was pitching my value to the gym I was treating out of as my payment. 

Yes, that’s correct, $0, because I was able to save them money by helping with their retention (aka, not losing clients).

My recommendation here would be finding a facility that has your ideal client in it (mine was CrossFitters, so I chose a CrossFit gym) and setting up shop here, even if that means just investing in a fold-up table… remember this is a low risk strategy but still requires SOME investment! (we have clients paying as low as $10 per session or $200/month flat rate rent)

Next, you need to determine your working hours. This might be a nights and weekends strategy… Short-term sacrifice for long-term gain. 

Now you know how much capacity you have, let’s call it 10 available hours per week. 

Time to get to work.

Pricing your sessions

The number 1 thing that delays the transition process for most people: pricing their sessions too low. You’re a doctor, you deserve doctor compensation. $150/(hour/session/visit) is a great starting point. 

Now, some simple math, how many sessions do I need to sell to replace my salary? 

Monthly earnings of $6,875/$150 = 45.83 visits (rounded up, that’s 46 visits per month). Now divide 46 by 4.3 (average number of weeks in a month), 10.69 visits per week. Rounded up to 11.

You need 11 hours of clients per week to replace your 40-hour work week! 

Want an even more flexible transition plan?

Pick up a PRN job that gives you a balance of safety and doesn’t monopolize your entire day.

I personally worked in a skilled nursing facility, making $50/hour to bridge this gap (that’s a story for another day).

You’ve got options, and it’s time to explore them.

Rocket Fuel

Now, let’s say you wanted to see the rocket fuel version of the low-risk tolerance strategy.

Instead of selling visits, you’re going to sell the entire plan of care, let’s call it 10 sessions for $150/session, giving a bulk pricing option for the commitment to the process and locking in collected funds for you.

Now, instead of needing to sell 46 sessions, you need to sell FOUR plans of care to replace your SALARY! Yep… you just need to find four new clients, that’s it. 

MUCH more attainable in your mind, I’m assuming. 

Want to level up and add a virtual offer?

Let’s say conservatively for $300/month, assuming you can get three clients to buy, you now have recurring revenue as follows: $900 month 1, $1,800, month 2, $2,700 month 3, $3,600 month 4, $4,500 month 5 (and growing). 

I’ll admit this takes a simplistic approach to the process, and there’s a lot of work involved. But the goal isn’t to fluff this up, it’s to show you that what you want is in closer reach than you think!

Is the risk still risky?

Now that you have a general plan, the only thing standing in the way is trusting the belief that you can do this, and I know you can. 

What’s the next move?