Before you take advice from someone to not get a job after college or quit your current job to “live your dreams,” breathe for a moment and punch yourself in the face. After you’re done with your deep breathing beat down, ask yourself what are the credentials of someone encouraging you to quit your job and self destruct?

More often than not, the person encouraging you to forsake the working world has failed in their own ability to find a worthwhile job, and/or is in the business of selling you a product to quit your job and lead a location independent lifestyle.  I absolutely LOVE the idea of living a location independent lifestyle  and have done so in Hawaii, Mexico, and on a cruise ship in 2011.  But, I’m telling you, making good money on your own is way harder than you think as you will read from four examples below.

There are millions of jobs in dozens of different sectors around the world.  Are you saying that you can’t find one that you enjoy?  If so, you aren’t looking hard enough!  Nobody quits a job they love to do, period!

The past several years have been tough for people to find jobs, and lifestyle blogs everywhere have popped up to encourage readers to live on their own terms.  These are the very same people great companies have rejected.  They can’t get into the Googles, Facebooks, Twitters, Wachtels, Morgans, and NBC’s of the world.  As a result, they have no choice but to bash the job market and tell everyone to quit and follow their dreams.

If you can’t rise up to the challenge, an often used tactic is to try and bring everybody down with you.  Don’t let others bring you down!

BEING A SUCCESSFUL ENTREPRENEUR IS BRUTALLY DIFFICULT

It’s irresponsible for people to encourage others not to get a job after four expensive years in college or quit their existing job altogether without a financial safety net.  It is even more irresponsible if your parents paid for your college tuition.  You owe them something, and living in their basement, taking out the trash twice a week doesn’t count!  That’s a given, along with paying their utility bills, cleaning the entire house, doing your own laundry, and giving your mom a nightly back massage.

Someone can sell you a product to give you that motivation, but guess what happens after you’ve failed at going at it alone for 2 years?  You have one big gaping hole in your resume and a lot less money.  Meanwhile, the person who sold you the dream of quitting your job has your money and is relaxing on the beach, thank you very much!

Example One: A Millionaire

Erica from Erica.biz sold her web hosting business in 2007 for $1.1 million at the age of 26.  Erica’s timing couldn’t be better as financial markets started crumbling in 2008.  Selling for $1.1 million is her marketing tag-line, which is absolutely brilliant because $1.1 million sounds like a lot of money.  Or is it?

Erica is an entertaining writer.  My favorite post is “Dear California, I’m leaving you” discussing how horrible our state’s tax system is for entrepreneurs.  Assuming Erica owned 100% of her company, and has no debt, her net proceeds after taxes is around $750,000-$850,000.  Still sounds like a lot of money right?  If so, why did she decide to get a job in order to qualify for a $300,000 mortgage in Texas?  She explains it’s because of a lack of a W2 and the fact that perhaps there really isn’t $750,000-$850,000 left from 4 years ago.  Living in California is expensive!

You would think that with $1.1 million dollars, Erica would be rolling in dough, or at least have a bathtub full of one-dollar bills to soak in.   However, after selling your business, there’s no longer that hefty income stream. You’ve got your lump sum, and now you’ve got to figure out what to do with it. If you invested it all in the markets in 2007, you could have lost 30-50% of it in one year if you sold! I’m hoping that’s not what happened.

If Erica needs to get a job after netting $850,000 and founding her second business that does SEO and has a rank tracker program for websites,  what chance do you have of surviving online or doing whatever you want without a job and saving for your retirement?  Your chances are slim to none!  I hope you are enjoying your new job Erica, and not having to pay taxes in Texas!

Example Two: A Nomad Who Hates Debt

One of the reasons why I like Adam Baker is because he’s one of the most transparent lifestyle bloggers around when it comes to his income. Adam sells info-products teaching you how to get rid of your stuff and reduce debt. He’s also started a video course/seminar on debt reduction as well.

Adam writes how he made $104,550 in revenue in 2011, which is a handsome sum of money. But, Adam also highlights all his costs. At the end of the income statement, Adam’s profits before tax is just $20,000.  Pay a 15% effective tax rate and Adam and his entire family are left with $17,000, just enough to max out a company 401K if he worked for a company and have nothing left.

Do you know what the poverty level for a family of four is in America?  The level is around $20,000.  Practically every job in America pays at least $20,000 a year!  However, not every job is as fun as Adam’s.

I’m not worried about Adam and his family because Adam has invested for his future. You’ve got to investment money to make money. Given no other asset is more important than ourselves, I’ll argue that Adam is making the best investment of all. Forget the stock market, bond market, real estate, gold, and beanie babies.  Spend the money on yourself and your business!

Example Three: The Empire Builder

Mike from The Financial Blogger is one of my favorite bloggers because he’s been buying up a lot of sites over the years and showing his readers how to build a blogging empire.  I’ve followed Mike for the past three years and he is also a Yakezie Member.  His blog has semi-frequent income reports which break down exactly where he is making money.

One of the most eye-popping things I’ve learned about Mike’s reports is that he spends $35,000+ a year on virtual assistants!  That’s an amazing amount of money, letting Mike work just several hours a week on his sites.  In 2010, Mike wrote that he generated $125,000 in revenue.  However, he also had $66,700 is expenses, leaving him with a profit before tax of $58,300.  I’m not sure how much Mike has to pay in Canadian taxes, but let’s just assume 25%, leaving him with $43,725.  Still not bad, but not as eye-popping as the original $125,000 headline.  It looks like Mike’s business has continued to grow in 2011 with pre-tax profits reaching around $85,000 or so, a 40% jump.

Here’s the kick in the nuts or a punch in the boobies if you prefer.  Mike shares with us that he has to split his profits 50/50 with his partner!  So take $43,725 and divide it by 2 to equal $21,862 per person for 2010.  Not bad, but again, not the initial big bucks we originally thought.  The irony is that Mike wrote a book called “Escaping The Rat Race”, and yet announced recently that he was excited to get a new job closer to home!

Given Mike has been so transparent with his income and reasoning for getting another job, I don’t think it’s hypocritical that he’s working.  It’s just the way it is, and the way it should be.  Work at a job you enjoy doing, and build the business on the side until it gets so huge you can’t help but quit.  Good luck Mike!

Example Four: The Network Creator

I’ve personally spent 20-30 hours a week without fail for the past 2.5 years building up Financial Samurai.  With ~150,000 page views a month, the traffic is better than a sharp stick in the eye, but it’s not nearly enough to live like Snoop Dogg.  I need 10X that traffic to live like Snoop, and then maybe I could really live it up like a corrupt politician on the Hill!

I don’t reveal my income, because I’m not in the business of teaching people how to make money online and I therefore would find it distasteful to do so.  My focus is on my writing, but let’s do the math.  If I make $3 per thousand impressions and I have 150,000 impressions a month, I’ll make $450/month for each ad.  Whoo hoo I’m making it rain up in here!  Sell 5 spots and I’m “raking” in $2,200 a month, enough for me to live in a crappy one bedroom apartment in San Francisco and eat burritos every day.  Of course if I raise my RPM from $3 to $6, well then, maybe I can eat the occasional burrito grande with extra guacamole.  I’d rather just shoot to raise readership to 1 million page views a month and then dictate my terms.

OK, so maybe I can do some affiliate marketing, write a book, and create my own product like Adam, Erica, and Mike to increase my revenues.  But shoot, who has the time working 50 hours a week at my day job and making sure the Yakezie Network continues to grow?  I’d rather focus on the writing because that’s the most fun, and seriously the main reason why I blog.  I know that if viewership jumps to 500,000/month+, there’s no doubt I can generate several hundred thousand in revenue a year.  Notice how I write revenue, and not operating profit.  My costs might balloon from $1,000 a month to $5,000 a month, who knows!

I’m not the brightest, nor the fastest person, and I’m sure I could utilize my time more efficiently.  However, I do have a dedication that will never die until someone chops off my hands, and even then, I will find a way to continue.  Average 70-80 hours a week working for 2.5 years and I promise your income will go up and you will create something of some significance!

A BETTER WAY OF LAUNCHING

Don’t be a donkey.  Go through Sydney’s checklist of things to ask BEFORE you quit your job so you don’t self destruct. The better way to living life on your terms is by finding a job you like and creating something new on the side.  24 hours a day is enough time to work a day job and a side job as you build your savings, experience, and skills.  That said, don’t underestimate how many hours a day you will have to work on your side business.  Things add up quickly.

Calculate your expenses and aim to save at least 24 months worth of monthly living expenses before you go on your own.  Two years is enough time for you to realize you are a failure, or that your venture will be a success.  If you are not making money after two years, you need to pull the plug unless you have an unlimited amount of money.  Remember, real entrepreneurs are successful.  Otherwise, you are just a hobbyist!

Two years is also about the maximum amount of time you can be out of the work force before recruiters start writing you off.  Anybody can understand a one year break.  Anybody can understand going out on your own and giving it a go for 2 years.  However, beyond that, companies will start feeling you’re just delusional and too stubborn to hire.  Your skills will be out of date and there are tons more qualified candidates to choose from.

While working on your side business, set revenue and net profit targets.  With financial targets, you’ll be focused on maximizing revenue, thinking more strategically on costs, and keep delusions at bay.  You should probably also set net profit targets as a percentage of your day job revenue so you have an idea of how much it takes before you are willing to quit your job and work on your endeavor full-time.

Next time someone tells you to quit your job, tries to make you feel bad for having a job, and attempts to sell you a product on why you should quit your job, ask them these questions:

* How much money do you make from your online endeavors?  Do not confuse revenue with net profit.  As you can see from my four examples above, making money by yourself is not easy.

* Do you live at home with mom and dad?  Seriously, if they’re not living independently, it’s hard to take them seriously.

* What is your educational background?  Not of supreme importance, but it’s nice to know whether they went to Columbia University or Chico State to get a hint of their intelligence and work ethic.

* What is your work experience?  If they have minimal work experience, then it’s hard for them to gain perspective.  Three years out of college and then teaching you how to be “epic” does not jive.

* Do you make money by telling people to quit their jobs with an info-product?  If nobody bought their info-product or affiliate products, would they still be able to make money?  This line of work is fine, but they just need to have the credibility.

* How many page views do you have a month?  Important to get a sense of blog authority.

* Have you paid your taxes yet?  Again, do not confuse revenue with net profit.  Taxes are a huge expense!

* How much money are you saving?  Nobody can work forever, no matter what the “do something you love, and it’ll seem as you will never have worked a day in your life” crowd says.  People who don’t save for a rainy day will get dumped on.

If the person admits he only makes $20,000 a year in operating income before taxes, has a site that gets only several thousand page views a month, has never held a job for more than 2 years consecutive years, and lives at home with her parents, forget about it!  There’s no credibility and you need to move on.

ENTERTAINMENT VALUE IS WORTH SOMETHING 

It’s entertaining to watch others bash people like myself with day jobs.  I just feel bad for them because they just haven’t found a job they enjoy doing.  Society rejects them, so they reject society.  People are fooling themselves if they think any job or entrepreneurial activity is 100% fun, or even 80% fun.  There is always crap to deal with, no matter what you do.

More power to people for trying to make something happen when they can’t find their dream job.  It’s a competitive world out there, which is why staying in school to develop your skills is not such a bad thing.  I just hate reading when they say we should all be like them and quit our jobs…. and buy their product in the meantime.  It’s bullshit and you need to know this before spending a penny!

Don’t be irresponsible with your life just because someone tells you to.  If things aren’t going swell with your job, suck it up and figure out how to manage up and pursue new avenues.  Consult with your friends and family thoroughly and do a cost benefit analysis.  Calculate how long your savings will last if you go out on your own and make nothing.  Are you willing to go back to the well and ask your parents for money and shelter?

CONSEQUENCES

A massive hole in your resume to pursue your “dream life” can turn into a nightmare.  You could become one of the long-term unemployed and lose your life savings.  Because you are no longer employable, no man or woman will ever want to be with you if they didn’t know you in the first place.  Because nobody wants to be with you, you could lose your self-esteem and spiral down a dark hole of depression.  Because you’re depressed, your body fades away.  You’ll never have an option to start your own family, unless you adopt which would be so wonderful!  And when you’re “old and filled with regrets, waiting to die alone,” you’ll at least tell yourself that you gave it a go and decided to live life on your own terms.

Just make sure that having no regrets is worth everything and more.

Readers, what are your thoughts on people who tell you to quit their jobs?  Why do people who don’t have jobs bash those with jobs?  Are readers that easily manipulated?

Photo: “Broke and Hilarious”, Occupy San Francisco, 2011.  SD.

Regards,

Sam

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Super Senior is to Superman like: A) Double Cheeseburger is to Happiness, B) College Is To Orgy, C) Binging Is To Barfing or D) All Of The Above.  Who cares?  It’s college baby, where the alcohol flows free and the ladies just want to say your name!

If there are any high school or college students who are reading this, I implore you to take your time and enjoy University! The real world is cruel because it’s competitive. If your fellow students beat you, all you get is a poor grade and a milkshake at the University Cafeteria to drown your sorrows. If a fellow real-worlder beats you, you’re jobless!  You don’t want to be a 25 year old college graduate living in your mama’s basement now, would you?

I took the standard 4 years to graduate from college. In retrospect, I wouldn’t have minded taking another full year. The problem was that my last semester consisted of only two classes: Advanced Golf and Advanced Economic Analysis! I literally went to class for two hours a day and used the rest of the hours to play $9 dollar rounds of golf, daytrade, and look for a damn job.  Oh how I wish I could play more $9 golf now!

I’m not sure if I told my parents that I was kind of twiddling my thumbs my last semester of senior year, but that’s because it didn’t matter how light the course load seemed. My mission #1 was to make some money and prove that my college experience was worth it with a job at the end of the rainbow.  Instead of taking more classes beyond golf and economics, I came up with a game plan to gain employment that required 1-2 hours of work a day instead.

WHY YOU SHOULD TAKE YOUR TIME IN SCHOOL

* The Holiday Inn. College is like a cocoon with fluffy pillows and tinted windows, sheltering you from hardship. Waking up at 7:30am to go to class for five hours is a dream come true, since even the most relaxed jobs have 8 hour workdays!  When I started work, I got in around 5:30am and left around 7:30-8:30pm on average for the first year and a half.

* You don’t have to face the music. It’s natural to feel anxiety during your junior and senior year because you realize you actually have to prove your worth. Everybody knows college is expensive, ironically making going to an prestigious private school that much more stressful! Imagine going to Yale at $60,000 a year only to graduate with a part-time job making $10 an hour? The guilt and stress would be immense! If you went to a community college and spent $2,000 a year and lived at home, then no big deal.

* Lots more action. You might think that money and a career will get you a lot of action with the opposite sex, and it will. It just won’t be as easy or as often as in college when you were dirt poor. In college, all it takes is going to a party a couple blocks away, having a couple Milwaukee’s Best beers, and walking two blocks back to your dorm room. In the real world, you’ve got to really put yourself out there, spend more than $2 on beer, drive, coordinate, and have the energy since you’re working all day. It’s just not as easy.

* You might self destruct.  If you come out too early and aren’t ready for 60 hour weeks and brutal honesty about how you are as a performer, you might very well implode.  There is a reason why the economic downturn of 2008-2009 corresponded with an explosion in the Lifestyle movement.  People couldn’t get jobs and needed a way to cope.  Excellent ideas and blogs were created, however, many many more failed.  You don’t want to graduate so soon and be bitter at the world.  Take your time.

* You have a lifetime to make money. You only have a limited amount of time to enjoy college. After 8 years, most colleges will kick your butt out because that’s just ridiculous. Anything over 5 years is probably a little ridiculous too, unless you have some family emergency, financial hardship, or are saving the children in a remote town. If you are a good student, with a strong work ethic, and a supportive network, you will find a job and make money. You might even make money with your own start-up. Sure, it’s better to graduate in a bull market than a bear market, but you can’t really time that. There’s plenty of money out there. No rush!

HAVE FUN, IT’S ONLY MONEY AND YOU HAVE A LIFETIME TO MAKE IT

Look at medical school students. Not only do they go to college for 4 years, they have another 3-4 years to get the MD, and another 3 years of residency before they can start making any sort of money! If you think you’re itching after 4 years to save the world and make some money in the process, what do you think about these guys?

If you’ve got a scholarship or your parents are paying for college, by all means take 4-5 years to have some of the best times of your life. If you are strapped for cash, or are taking down lots of debt, then certainly try and finish sooner. Just know that nothing is as artificial and cozy as going to college and that once you graduate, your official income clock starts.

Readers, what are your plans for college and after college? How long did it take you to graduate? Did you want to stay longer, or could you not wait to get out?  Anybody regret graduating early, even if it was to save money?

Best,

Sam

A lot of people, myself included, have dreams of writing a book someday and getting on the best seller list.  There’s something magical about books and I’ve been fascinated with them ever since the days when my parents first read to me as a toddler.  I love spending hours in the library browsing up and down the aisles and pulling books off the shelves.  After a visit to the library, I often walk home with a backpack and both arms full of books on travel, cooking, science fiction, crafts, mysteries, photography, biographies, foreign languages, computer guides, or whatever else caught my eye.  (Yes I actually have hit the 50 item checkout limit on my library card before!)

With SO many books already published and new ones coming out each day, it can be extremely intimidating to write your first book, let alone even think about trying to get published.  But fear no more!  Life is too short to be scared of failing at becoming a published author, and you won’t be able to succeed unless you try first!  Don’t let another year slip by without making some serious progress on your writing goals.  Skip the sorry excuses of writers block, procrastination, and giving up after your first rejection letter.

One Resource Is All You Need To Learn How To Get Published

I just finished reading the Unconventional Guide to Publishing and I can’t believe how much I learned!  I’m a big fan of Unconventional Guides, and this is their newest product that just came out this week.  At 45,000 words and nine enlightening chapters on how to get published, the guide goes into all the details you’ve been looking for on key topics like putting together proposals, finding an agent, pitching your book to publishers, and tips on getting the best possible contract for your needs.

The guide is straight to the point, easy for even complete industry novices to understand, and doesn’t waste your time with fluff or mindless repetition.  The chapters are well organized and the font is also easy on the eyes, which is important since it is sold in PDF format.

Industry Expertise At Your Fingertips

When you want to learn how to get published and give yourself the best chance possible, advice from an experienced industry guru is priceless.  The Unconventional Guide to Publishing is written by David Fugate, a literary agent who has twenty years of industry experience and has represented more than 1,000 books.  Yes, you read that right – over one THOUSAND books with more than 40 different publishers!

The Evolving World Of Publishing

We all can recognize that the future of books as we know them is changing.  Our grandparents told us stories about how they used to walk 5 miles through the snow to get to school carrying their books with leather book straps, and someday we’ll be telling our kids how we used to carry big heavy textbooks in our backpacks between classes, which sooner or later will sound so old fashioned because someday everything will be digital.

You might think that the changes in the publishing industry with giants like Borders going under are signs that becoming a published author isn’t a good idea anymore.  I’ve had those doubts myself, especially since I’ve seen so many book stores close in the last few years, and each time I’ve felt SO sad.  Thus I was thrilled and rather surprised when I read Fugate firmly believes, “In the entire history of the written word, there has never been a better time to be a writer” in reference to this time of significant industry changes.

Find The One That Works For You And Get Started

Are you excited and ready to learn about all the specifics on how to get published with Fugate’s help in the Unconventional Guide to Publishing?  Well good news – there is not just one, but three convenient packages available for purchase!  Each one is at a different price point which is great if you’re on a budget.  The gents at Unconventional Guides have cleverly named each of the 3 packages after a famous author, The Hemingway, The Austen, and The Fitzgerald.

Not only does each package include the 45,000 word guide in PDF format, they also come with MP3 interviews with established editors, detailed transcripts, and free updates for life!

If you act fast, you can even take advantage of a price reduction that’s currently in effect on the top level package, The Hemingway, through midnight January 13th.  The Hemingway package includes bonus audio interviews as well as a video interview on Book Marketing with best selling author Jonathan Fields.

Props to Chris Guillebeau and Sean Ogle for producing another fabulous Unconventional Guides product!  And Untemplaters, just so you know, the links in this post are affiliate links, which means if you complete a purchase of the Unconventional Guide to Publishing, a portion of the proceeds goes towards supporting Untemplater!  And there’s nothing to worry about because your information is kept private and the purchasing process through Unconventional Guides is easy and safe.

For more information, pricing, or to buy a package please visit the Unconventional Guide to Publishing.  A BIG thank you in advance if you make a purchase, and no hard feelings if not. 

Untemplaters, do you have dreams to write a book and get published?  What genre(s) are you interested in?  Are you a fan of traditional bound paper books, or do you now prefer ebooks?

The first few months of the year are usually a hectic time when companies experience high periods of turnover. People are disappointed with their bonuses, or even lack of bonuses, and it can be a sensitive time for those who didn’t make it into the office wide promotions announcement. Emotions run high and you might find yourself fuming and ready to storm out the door screaming, “I QUIT!”

I gotta admit I’ve fantasized about yelling that exact phrase at several times in my career, but I’m really glad I didn’t let my emotions get the better of me. Although I’m sure it would feel exhilarating in the moment, quitting your job is not a decision you should make on the fly or in the heat of the moment!  So before you quit your job or do anything crazy, I’d like you to ask yourself several important questions.

What are 8-10 triggers that are driving your desire to quit? Everybody wants more money, less hours, shorter commutes, and more vacation days so a list of only 3-5 reasons isn’t going to help you much in your decision. Get as specific as possible in identifying the things that you dislike about your current job.

How will you avoid those triggers in your next venture? Like it or not, there will always be issues of some sort in any job you take, even if you become your own boss and start your own business. Figure out which of those triggers you want to prevent the most in your next role and how you plan to achieve that before you quit your job.

Are YOU to blame for any of the reasons you want to quit? Everyone always wants to blame someone else when they’re unhappy at work, but in some cases they should be pointing the finger at themselves. If you’re suffering from boredom, have you taken enough initiative and asked for new assignments? If you’ve been passed up on a promotion for 3 years, have you discussed the reasons with your manager and asked for ways to improve your skills? Have you truly given your current position all its worth?

How many months of expenses do you have in savings? Before you quit your job, figure out how long you could survive on your own if suddenly you didn’t have any income coming in.  This is a great personal finance exercise even if you’re not thinking about quitting.  The key is not to guess how long – actually calculate it out! Real numbers matter.

What is the dollar value of your benefits package? We often forget how much our benefits actually cost, but the companies we work for don’t. If you quit today, what choices would you have for health insurance, life insurance, and disability? Do your research and be prepared. Remember that even if you find a new job tomorrow, full benefits usually don’t kick in until you pass a probationary period, so factor that into your budget as well.

How do you plan to find a new job? It’s certainly not as easy as it used to be. Even though we have a lot of great online resources now for job search, it’s still a very competitive market out there and not all industries are hiring. If you haven’t interviewed in a long time, plan on brushing up your skills because there are plenty of folks out there with a lot of practice who have that advantage over you.

Would you want your current job back if you failed at finding something new? It may sound silly, but it’s something to consider to help you determine if you’re really ready to quit or not. Build a better relationship with your manager and ask for new assignments to give yourself new challenges.

Do you really have to quit right now before finding a new job? Personally I suggest getting a signed offer on the table before you quit your job so you can keep your benefits and income while you apply and wait for interviews. Locking in a new job can take a long time, and hiring firms usually prefer to meet with candidates who are currently employed versus those who have been out of work for extended periods. If you’re thinking about changing industries, look into part time MBAs or night classes and use your day job money to pay for tuition.

Are you fully utilizing your free time? Sometimes people blame their jobs for their overall unhappiness when they’re really just in denial that they aren’t do anything rewarding with their free time outside the office. A healthy work life balance isn’t just about working less hours, it’s also about staying active in your personal life.

Untemplaters, how would you rate your current level of satisfaction with your job? What were some reasons that lead you to quit in the past?  Did you find a new position before you quit your job or after?

As you guys know, I have a lot of fitness and health goals in 2012 and am trying to eat more fresh foods on a daily basis.  I’m a big fan of farmers markets and buy local produce twice a week on average, sometimes three times a week in the summer.  I’ve noticed that in addition to selling fruits, veggies, and nuts, more farmers markets are starting to feature local vendors who specialize in other foods such as pastries, smoked fish, cheeses, and even homemade pastas.  Other market favorites of mine year round are freshly made, incredibly scrumptious salsas and dips.

It takes planning and a lot of hard work, not to mention cooking (!!), before these tasty bites reach the markets and our hungry mouths.  I’ve never even attempted to make my own salsa because 1) I’m lazy and 2) the ones at the markets are so good!

One woman who is a master of making mouth watering salsa is Ariana Fletcher, founder of Giggle Gourmet.  First of all, what a cool name and clever logo!  I had the pleasure of interviewing Ariana recently and am exciting to spread the word about her zesty new food line.  She is an untemplate entrepreneur following her passion and shattering the template lifestyle.  Enjoy the interview!

Sydney: Please tell us about Giggle Gourmet and the story behind the name. 

Giggle Gourmet: I have always been known for my infectious trademark giggle.  Each city I move to it seems to follow me.  I continuously have been given the nickname “Giggles.”  From best friends to strangers; anytime people hear me laugh they comment and say what a great laugh it is.  I started cooking at the age of 3 and after years of friends and family from across the globe calling and emailing for my recipes, I finally decided to follow my passion and created my own range of gourmet food.

I thought about starting my own food line in 2002 while living in San Francisco, but decided to stick with my job so I could pay off my undergraduate college debt.  I launched Giggle Gourmet in November 2011 in Sydney, Australia.  Giggle Gourmet’s products are an expression of my food philosophy. I use only premium ingredients and never add any artificial ingredients. So every item that leaves the kitchen is inspired by my dedication to healthy food that bursts with zesty flavor – that’s my Giggle seal of quality.

Sydney: You weren’t always living in Australia – how long have you been there now and what prompted you to leave California?

Giggle Gourmet: I moved to Sydney in December of 2007.  My trip began in October 2007 when I bought an around the world plane ticket and my last stop was Sydney, Australia.  I fell in love with the city on my 2^nd day and bought a suit and started interviewing for jobs. Six weeks later I had flown home to California to give my 4 weeks’ notice on my apartment, sell my car and pack of my life.  Now it has been four years of living in Australia.

Sydney: Was it hard moving to a new country?  How much did you take with you?

Giggle Gourmet: Actually the move wasn’t hard at all.  It all happened so quickly.  I had a job by end of December and started working the 2^nd week of January 2008.  I took my entire house with me.  I shipped half of a container of goods with me to Sydney.  I also brought my two pet cats with me who went through quarantine.  So, after 3 months of living in an apartment with no furniture, my container finally arrived and I felt home.

There are many cultural differences between here and California, but I am enjoying the diverse lifestyle.  The hardest thing is being so far away from your family and friends.  But I am so lucky for today’s technology and keep in touch with everyone.

Sydney: How long did you think about starting your own company before you decided to go for it?

Giggle Gourmet: Since I can remember, I always wanted to run my own company.  But, for many years, I just assumed it would be in Finance since that is what I had always worked in.  But ever since I moved to Sydney, I noticed there was an opportunity.  The past 4 years, I noticed I couldn’t buy fresh pico de gallo salsa; I could only find salsa in jar.  And in the past 12 months I hired a graphic brand strategist and graphic brand artist to make Giggle Gourmet come to life.

Sydney: As a new business owner, what’s been your biggest hurdle so far?

Giggle Gourmet: Time.  It currently is just me, so I have to do everything.  I can’t wait to be able to hire some employees; hope to in 2012.  Australia has strict employee laws, so before I hire anyone I will have to do some in depth research on the laws.

Sydney: Did you find it difficult incorporating your business in Australia?

Giggle Gourmet: No, it actually was really easy.  I did a lot of reading and researching and then went and spoke to an accountant to make sure I set up the company correctly.  The hard part came when I had to learn a new industry, the food market in Australia.

Sydney: What do you think are some of the big differences between being a small business owner in the US versus Australia?

Giggle Gourmet: I am not sure; as I have never been a business owner in the US.   Just a guess, but having the bigger population of the US may make starting a business a bit easier.  Also, it seems that the US offers woman entrepreneurs special low interest rate loans where as I have yet to find this in Australia.

Sydney: How many hours do you put into your business per week on average now?  Is the majority of your time spent in the kitchen?

Giggle Gourmet: On average I spend about 60 hours per week on the business.  About half of that is in the kitchen and the rest is spent at the markets, running the business, shopping for the food, marketing, etc. A lot of time is also spent online doing research.

Sydney: What’s the food like down under?  Is it as bland as I’ve heard?

Giggle Gourmet: I think Sydney has some of the best food if you like seafood, Asian influenced dishes and/or pub food.  Many Australian’s are foodies and take their food and alcohol very seriously.  Australian’s have many world renowned chefs.  Like any city, you just need to know where to go.

Sydney: What’s your favorite product that you have on the market right now?

Giggle Gourmet: My favorite product is Giggle Gourmet’s smoked chipotle salsa.  The flavors just burst in your mouth and it is very fresh and smokey.  It also goes great with so many different types of dishes.

Sydney: What are a few of your goals for 2012?

Giggle Gourmet: A few of my goals for 2012 are 1) Have a few of our products stocked at a gourmet food shop.  2) Hire someone to make the food and package it.  3)  Hire someone to go the Sunday markets for me.  4)  Expand my food range to include soups, salad dressings and two new dips.  5)  Return a profit.

Sydney: Do you have any tips for people who are thinking about starting their own business?

Giggle Gourmet: Follow your passion.  Owning your own business takes more time and energy than going to a corporate job, so make sure you love what you do.  Make contacts, people know people and those people know more people.  And finally don’t give up.

To learn more about gG, you can visit the Giggle Gourmet website.

Untemplaters, have you ever thought about a career in the food industry?  How often do you shop at local farmers markets?

Everyone has their own share of pet peeves at work including me.  I’m not talking about things about the job itself that bug me, I’m talking about things people do out of bad habits or carelessness, many without even realizing what they’re doing.  It’s always a bit of a challenge sharing an office with other people, especially in close quarters, but it doesn’t have to be!

We can all use a bit of reminding on things to avoid doing at work since it’s easy to forget office etiquette as we get caught up with stress and other distractions.   Remember that you’re sharing space with other people and make an effort to be a good office-mate!  Your coworkers will thank you.

Things to Avoid Doing At Work

• Don’t repeatedly hit the elevator door close button when you see a coworker a few feet away coming towards the door.  Especially if you’ve already made eye contact, don’t be a jerk and watch the door close in their face!  They’ll appreciate you letting them in and you’ll also help save a bit of energy by riding in the same car.

• On the same note don’t scream, “Wait!” when you’re 100 yards away from an elevator that’s already full.  That’s just annoying!  Even if the folks are nice enough to wait and let you on, the elevator is likely to express its annoyance at the over capacity weight limit by making one of those “RRRRRR” buzzer noises when you get on.   That’s not a good way to start everyone’s day.

• Avoid being frequently late to work.  This is an obvious one, yet some people don’t realize how important it is.  Please do your career a favor and get to work on time!

• Please don’t heat up leftover fish in the kitchen.  Even if it tastes amazing, fish just doesn’t smell very good when it’s reheated in the microwave.  Plus strong smells have a strong tendency to linger in office break rooms and kitchens so save those seafood leftovers for dinner at home.

• Don’t overlook the separate compost, recycling, and landfill bins!  Is it really that hard to remember what goes in the green, blue, and black bins?  I certainly don’t think so, yet I see people put aluminum and plastic bags in the compost bin and food scraps in the recycling bin all the time.  If it’s too hard for you to remember which is which, it’s best to just use the black trash bin so you don’t ruin an entire batch of compost or recycling or make someone fix your mistake.

• Don’t hover over people, especially at the sink, water cooler, and coffeepot.  A lot of offices only have one of each for everyone to share and things can get crowded in the mornings.  If you’re waiting your turn, don’t hover right next to someone, sigh loudly, or tap your foot impatiently.  Set your things down and come back after reading today’s headlines, get your milk out of the fridge, or casually strike up a friendly conversation with the person as you wait for them to finish.

• Never leave your dirty dishes in the sink or piled up on your desk.  Do whatever you want at home, but it’s just plain rude to leave dirty dishes in the sink at work.  No one should have to clean up after you.  If you can’t handle this simple responsibility, use paper cups and plates instead.  Clean off your desk before you leave each day and avoid having dirty coffee cups sitting around and cluttering up your workspace.  You’ll come across as irresponsible if you have a dirty desk.

• Don’t rush around corners or run in the hallways.  I can’t count the number of times I’ve almost been run over by someone rushing around a corner in the office.  Traffic goes both ways folks!  Slow down in the hallways and remember someone could be walking towards you with a hot coffee in their hands.  Plus rushing around the office makes you look like a frazzled mess.

• Don’t ignore the receptionist or expect them to clean up after you.  Make sure to introduce yourself to the receptionist at your office if you haven’t already.  Say or wave hello in the morning because even a simple greeting goes a long way.  I’ve been friends with several women who worked as receptionists and believe me they know who you are and resent employees who totally ignore them or treat them with less respect than other coworkers.

• Don’t groom yourself at your desk.  Trimming your fingernails, combing your hair, and putting on makeup should be taken care of at home or at least kept to the office bathroom.  I worked with a guy who loved to cut his nails at his desk and it always grossed me out.

• Avoid blasting your headphones or having a radio on if you work in a cube.  Some companies let their employees listen to music at work, which is cool if it isn’t abused.  Keep in mind that you should be able to notice when the phone rings and be able to hear someone talking to you at all times.  If you work in a shared space, check that noise isn’t leaking out of your headphones too because that can be really distracting for the people around you.

Untemplaters, what are some of the bad habits people have where you work?  Does your company have an office etiquette policy?  Do you have any other tips for things to avoid doing at work?

I recently had lunch with one of my friends and we got to talking about money and how it can change and even corrupt people. She told me a fascinating story about her cousin Trent, who grew up rather poor and had to work part time jobs throughout school to help his family. Despite his underprivileged upbringing, he loved school, studied really hard, participated in all sorts of student organizations and managed to get into UC Berkeley on a full scholarship.

Even though his college education was paid for, Trent still chose to work while he was in school because he didn’t like feeling idle and wanted to be able to start his own company after graduation. He took lots of business classes, often met with his professors for advice and guidance, and spent all his free time researching and planning for his future. After finishing college was able to take the money he’d saved up and start his own marketing and design company.

He kept his costs low and used his networking skills and alumni contacts to win a few big clients. Over time his business really took off. People liked his work and his positive, can-do attitude. He enjoyed being able to help his clients and prided himself in his customer service. As his business and profits grew, Trent wasn’t able to continue doing everything on his own so he hired a few employees to help with the growing demand.

Everything was going great until one of the employees, Eric, liked Trent’s business model and designs so much that he decided to quit and start his own competing company, copying pretty much everything Trent’s business was doing (note – names have been changed for privacy). Eric was making a decent salary working for Trent, but that wasn’t enough for him. Instead of talking to Trent about getting a promotion or building a partnership together, Eric left and took a lot of intellectual property knowledge and client information with him.

The Lure Of Money

Trent was really disappointed that Eric left like that, but chose not to take any legal action nor try to stop Eric from being successful as a competitor. Trent chose to continue focusing on his own clients and doing what he loves. If I was in Trent’s shoes I’d probably have done the same thing and just moved on, unless my business took such a huge hit from Eric stealing away business that I couldn’t operate anymore. Perhaps if Trent had paid Eric a higher salary he wouldn’t have left like he did, but it probably would have just delayed Eric’s departure not eradicated it.

I think it’s selfish the way Eric left, because he took the opportunity to make more money on his own by copying all of Trent’s ideas, but it was quite a profitable move for him.  My friend did tell me that Eric ended up making triple his previous salary by starting a competing business, and lured away many of Trent’s clients. Ouch. I’d be furious if I was Trent. I mean it’s nice that Eric was able to make so much more money, but the way he went about it was pretty foul. If it wasn’t for Trent, Eric wouldn’t have had the knowledge and the contacts to be successful.

Competition is inevitable in any business though and people copy and steal ideas and information all the time in order to make a profit for themselves. Especially as fluid as data and info is online these days, it’s becoming quite hard preventing others from pillaging and stealing your own ideas, content, products, contacts, and designs.

Be Careful And Protect Yourself

Why do you think money corrupts people and leads them to steal from others? I don’t think it’s solely based on poverty versus wealth anymore, I think laziness and greed play a big part too. Perhaps some of you think what Eric did was smart and completely within his rights.

Imagine for a moment you had the opportunity to triple your current salary right now. Would you undermine someone in order to do so? And do you think your answer be different if you made significantly more or less than you do right now?

Personally I don’t think I could sleep at night if pulled a move like Eric’s. But money makes people do crazy things. It can make our heads spin, over inflate our egos, and consume us with stinginess, and an endless appetite for material things. After all, greed and ignorance are two of the main reasons why lottery winners and professional athletes often go broke. They just don’t know how to handle their sudden influx of income and assume that it will never run out.

The lesson learned here is that if you have anything valuable, there will always be someone who wants to copy or take it away from you for his or her own benefit. For example, if you have a brilliant idea for a new invention, don’t go blabbing about it on Facebook as soon as it pops into your head, keep it to yourself until you’ve acted on it and protected your intellectual property and prototypes.

Untemplaters, what are your thoughts on Eric’s actions? How would you have responded if you were Trent? Why does money corrupt people in your opinion?

You may think the economy is sucking wind, but how can that be with record Black Friday sales of $11.4 billion, a healthy 6.6% increase over last year?  What’s more impressive, the four-day weekend sales totaled $52.4 billion, up 16% from a year ago according to the National Retail Federation.  If unemployment and income are as bad as the media says, then people wouldn’t be spending money at record levels.

As a patriotic American, I did my part in contributing $600 of the $11.4 billion.  I bought a pair of work shoes, socks, ties, and underwear for an average 35% off.  A 13″ MacBook Pro and a round-trip ticket to Hawaii were on my list, but I didn’t make enough money online during the weekend to allow me to buy guilt-free.  I made it a pledge that the only money I would spend would be based on the money I earned during the same time period.

It’s safe to say that many people are aware that not everything is hunky dory.  We’ve got the Euro Debt Crisis, a US States Budget Crisis, political gridlock in Congress, and a stubbornly high 9% unemployment rate that makes even the most optimistic of people doubt.  How do we reconcile such uncertainty with such consumption strength?

THEORIES AS TO WHY AMERICANS ARE SPENDING AT A RECORD PACE

* Savings fatigue.  After the 2008 downturn when plenty of Americans lost more than 30% of their retirement savings in one year, spending plummeted and savings rates surged to over 5% (still pathetic, but it was negative before).  It’s been three years since the financial crisis, and 401k provider Fidelity has said that most retirement accounts are now above their 2007 highs.  People’s balance sheets are stronger now and many are simply sick of living so frugally.

* Pent up demand.  A lot of purchases were delayed over the past 3 years – from cars to homes to big screen TVs you don’t need.  When you’re in a financial crunch, the last thing you’re going to do is to replace perfectly fine, albeit old things.  Instead, you keep things a little longer and do without the latest bells and whistles.  But technology has changed drastically since three years ago.  Just look at the latest Android phones and iPhone 4S.

* It’s harder to afford property.  Banks have become more stringent in terms of qualifying home buyers.  20-25% down is now standard vs. 0% down in the go-go days.  A lot of people have given up trying to own a home in San Francisco, where median prices are $650,000 and have resorted to renting.  If you no longer have $150,000 down for a $650,000 home, that doesn’t mean you don’t have 10% down, or $65,000 in cash lying around doing nothing.  It’s a nice chunk of change, but it is not enough down to buy a median priced home.  Therefore, the temptation to spend that cash on frivolous things increases tremendously, especially if it’s been growing for the past several years in anticipation for the down payment.

* People have much more money than you think.  I’ve subscribed to this theory for a long, long time.  A person walking down the street may look poor, but in reality, they might be worth several million dollars.  It’s always better to watch what people do with their money than listen to what they say.  Why else would shopping malls and restaurants be so packed?  The median starting income for a 29 year old from UC Berkeley’s Haas School of Business or Stanford’s Graduate School of Business is around $130,000.  If they stick with their job for 5 more years, they’ll likely earn more than $200,000 each if not much more, depending on their field.  If they decide to marry each other, well then they really have a lot of extra income!  It’s not just MBA grads from good schools who make good money.  You also have dockworkers and firemen who work 35-40 hours a week making over six figures.  Dentists, lawyers, doctors, and big professional bloggers are also doing well.  You can then add on the kids who have Bank of Mom & Dad’s helping them buy cars and properties for them.  The list is endless!

STAY POSITIVE MY FRIENDS

Whether you are rich or poor, things are looking up.  Did you see the videos of chaos at Wal-Mart with people going crazy over $1.99 waffle makers?  You might scoff at people who stand in line for hours to save a couple hundred bucks.  That’s the wrong way to look at things.  Instead, realize these folks have money to spend and are patriots.  Shoppers are confidently spending their disposable income and saving our economy.

Readers, how much have you spent so far this holiday season?  Are you bullish about the economy given the record high Black Friday retail sales?  Why do you think the Black Friday retail sales numbers are so strong?

Are you bullish?

Photo: Union Square Apple Store on Black Friday, 11/25/11, Sam.

Update: Since this post, we’ve had record Cyber Monday sales, Chicago November PMI jump to 61, and US pending home sales for October up 10% MoM vs. expectations of only +2%.  Finally, the World Banks have brought out the BAZOOKA on Wed, 11/30/11 to prop the markets up!  Who wins?  Asset owners.  Who loses?  Savers.  Let’s rock!

Regards,

Sam

I have been fortunate enough thus far in life in that I have been able to start, establish and sell several successful businesses. Currently I manage a portfolio of online and offline businesses that allow me to live the mobile lifestyle. However, before any of this was materialized, I too like most people in this world had a job that I went to every morning Monday through Friday.

I liked my job. It paid very well, took me places around the world and put me in touch with some very wealthy and powerful decision makers (people running Fortune 100 companies making several million bucks year in year out). I was on the fast track climbing the ladder just like everyone else around me.

I wasn’t unhappy at all in what I was doing, but I knew I could achieve something better, which is to make enough to live the lifestyle I want yet have the freedom and flexibility to design my life around people, things and priorities that were / are important to me.

The more I researched and studied the more I realized that the way to achieve what I wanted was through passive income, or income generated by businesses and assets that can be managed remotely with relative ease and little risk. Fast forward a few years and I now find myself living the dream, my own dream which I had dreamt while working a full time job.

I’d like to share a handful of tips that helped me, which may help you, prepare for an unconventional lifestyle while still living the 9 to 5 lifestyle.

Invest in Your Education / Yourself

I cannot emphasize investment in yourself through investing in your education enough. When I was young I read somewhere that the quest to excellence is a lifelong process. It wasn’t until after college when I realized what the quote truly meant. Unfortunately for many, learning ends when college ends. The real journey is really supposed to just start at that point.

Invest in yourself as much as possible. If climbing the ladder is your dream, invest in the necessary education that will enable you to do so. If starting a business is your dream, invest in the tools that will enable you to do just that down the road.’

Fill in your dead time with education opportunities.  Listen to books and podcasts while driving. Carry a book or a magazine to plug in time gaps. Watch educational videos while flying. Take a weekend to stay in and research online.

Network Outside Your Profession

Networking is one of the most underrated initiatives in life. Network outside your organization and get connected with like minded individuals.  You can assemble your dream team way before you will ever need them. There is no rule precluding you from doing so.

Attend local MeetUp events and association meetings. Leverage LinkedIn and other social networks to find and connect with individuals of interest. It’s nice to have a resource pool the minute you decide to embark on your entrepreneurial journey.

Prepare Yourself Mentally

Discipline yourself to live a financially responsible lifestyle. Live nimble and save. This will help you in the event your entrepreneurial endeavor requires you to (or if you want to) dedicate all your time to it. Even if you don’t do that, a nice reserve will help you live a less financially stressful life if you decide to stay within the “template” lifestyle.

Finally, understand that not everyone succeeds in everything they do, and that success doesn’t necessarily mean becoming the next Bill Gates. Define what you want, when you want it by and get ensure you have full clarity. At the same time, realize that even if you can’t achieve an Untemplate-d lifestyle, the Template-d lifestyle works just fine for the majority of working individuals.

Concluding Thoughts

Many successful individuals will tell you that luck is simply when opportunity meets preparation. The tips above, while not the most comprehensive set, help prepare an individual for a time when opportunity comes by. Don’t wait to start preparing after an opportunity has already come by, hit you in your face and then blow right by.

When I reflect back, I don’t think the journey was that complicated at all and I feel that anyone determined enough can replicate it.  It was simple, but not easy because I had to work hard and put in the time necessary to make things happen.  There is no shortcut around the actual process of learning, executing, failing, learning again and retrying.

All the best,

Sunil