Description

Today’s Episode Summary: Philip Sessions and Josh Littauer discuss how to strategically and safely transition from your regular 9-5 job into a full-time entrepreneur and the importance of communicating your vision with your spouse. 

What You Will Learn from this Episode: Josh Littauer gives concrete and applicable financial advice on how to adequately save money from your current income to prepare you for the ups and downs of entrepreneurship and just how possible it is to achieve your dreams. 

The Episode Timeline:

1:02: Josh tells us a little bit about himself. 

3:05: Decide exactly what it is you want in life and COMMIT. 

6:03: Josh describes how he mapped out his finances and got clear on what it would take to quit his job as an engineer. 

7:53 Josh’s wife supports him every step of the way. 

10:26: The importance of communication with your spouse 

12:05: How to budget your side hustle until it becomes your main source of income. 

15:03: Don’t get distracted. Build one business at a time. 

17:04: Baseball analogy for business. 

18:43: Josh talks about his vision for starting a podcast. 

23:26: Philip and Josh brainstorm ideas about Josh’s future podcast. 

25:48: Philip explains some things he does to help keep his marriage strong. 

27:31: In podcasting, should you focus on one topic at a time or multiple? 

32:25: Josh talks about his experience with speaking on stages around the country. 

35:06: Final tips from Josh 

Golden Nuggets from Episode:

1. You have to decide what it is you want to accomplish and seriously commit to that goal. 
2. Get really clear on what kind of cashflow you will need to make on a monthly basis to be able to safely leave your regular job. 
3. From a relationship standpoint, it’s important to be able to effectively communicate your dream and vision with your spouse so they will understand where you’re coming from and will be able to support you whole heartedly throughout the journey. 
4. In preparation for things like inflation and emergencies, it’s important to save enough money so that you’re still able to stay afloat if things go wrong. Create an emergency fund from your regular job as you transition into making your side hustle your main source of income. 
5. In today’s world with social media, it’s easy to get distracted to try and go after too many streams of income at one time. The key to success is building only ONE business at a time and then branch out after you successfully establish each one. 
6. You can have everything you want in life, a lot of times it just takes being an expert in more than one area. 

Connect with Josh:

Facebook: https://www.facebook.com/joshua.littauer

Instagram: https://www.instagram.com/josh_littauer/?hl=en 

Connect with Philip:

Instagram: https://www.instagram.com/philipsessions/?hl=en

TikTok: https://www.tiktok.com/@philipsessions

Linkedin: https://www.linkedin.com/in/philip-sessions-b2986563/

Support the show