Description

** WIN A YEAR'S SUPPLY OF NETFLIX! To enter, all you need to do is rate & review Entrepreneurs Can Party on Apple Podcasts. That's it! Further details can be found during the episode (2:05) and on social media @entrepreneurscanparty. Draw closes on 30th April 2020. Good luck! **

"9 months of zero revenue from his business but he gave himself a 2-year financial runway."

Welcome to episode 11 of Entrepreneurs Can Party! In this episode, I'll be offering practical advice on how you can transition out of your 9-5 into your side hustle by thinking about your financial runway.

Key Points:

• What is a financial runway? (5:22)
• Fully committing to your side hustle vs building it on the side (7:01)
• Speed vs risk (9:05)
• Calculating your financial runway (10:57)
• JLD: 9 months of zero revenue from his business (13:57)

Resources I highlight during the episode:

• iSaveMoney App (for IOS or Android): If you're looking for an easy way to track your expenses in one place so that you can start to calculate your average monthly spend, this app is a great place to start. Highly recommend!
• Entrepreneurs on Fire, hosted by John Lee Dumas [JLD]: John earned zero revenue from the first 9 months of working on his podcast full-time and now Entrepreneurs on Fire regularly earns 6-figures every single month. Helpfully, John and his team detail where their revenue is coming from in their monthly income reports.