Tim Ferriss is one of the most well-known fellows in the Angel Investment slash Podcast slash Consultant slash Guru space.
And his one exercise can help you deal with figuring out when and if you should take the leap, take the risk, and run away with it.
Here is the full resource: https://tim.blog/2017/05/15/fear-setting/
When I worked a full-time job along freelancing part-time, the question always loomed over my head.
Whether switching to freelancing full-time is the better outcome for me?
– What if the income is not stable?
– What if I can’t get new clients or work?
– What if I can’t get hired in a timely manner again?
– My resume will probably be destroyed, I will be unhirable forever?
– I’ll be stuck on a platform alone without any network or people to talk to?
– How will I manage my work-life balance working without bounds?
– How will I get paid safely and timely (considering Pakistan’s horrible state of foreign remittance support)
All existential dreads anyone would have in a corpo job.
I did the exercise, and the gist of it is
All the concerns listed above were solvable
Either by X extra amount of income I will be making
Or actions I can take to set my fear free
– Freelancing isn’t secure?
Having 4x the income is the best job security — your bank account is your job security now
– Can’t find new clients?
It turns out it is easier to find new clients than a new job for most roles — at higher pay and better terms
– Income not stable?
Figured out how to push fixed-price long-term retainers
– My resume is no longer relevant?
I will make a personal website with a portfolio of clients and case studies
– How will I manage my work-life balance?
2 years in, I haven’t ‘worked’ on weekends, actually, I am working less than I did at my job. Turns out working with small teams you and your time is valued much more than a corpo with 100+ employees.
– Will I receive payments safely?
Honeslty, to this day, I can’t say 100% for sure if freelancers will have a stable payment source. Wise got killed this year, Payoneer is probably next in line. But what I know for sure is, that 2 years into freelancing — I can just move to UAE and open an account there to bypass this issue.
And hey, it’s not just me, I heard 4000+ businesses registered/moved to UAE this year alone.
At the end of it, if you are fearful of a decision you need to make
and Resolve it
One of the greatest discoveries a man makes, one of his great surprises, is to find he can do what he was afraid he couldn’t do.
– Henry Ford
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The fields of Product Management, Business Operations, and Consumer Tech drive me forward. A Decade of executing successful projects along with hands-on experience of 10,000+ hours in IT, Software Development, and SaaS –
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