Before You Quit Your Job

Before You Quit Your Job

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02 DECEMBER 2017

written by Mike

BEFORE YOU

QUIT YOUR JOB

 

There are countless articles online on how to go freelance or how to start a business – I know because I read a lot of them.

However, one thing that sometimes gets forgotten is, what to do before you quit your job, before you take the step, before you make that crucial decision that has a potential to change your life.

I’m a strong believer in planning. On the one hand, I understand that it’s rare that things will go according to the plan, but writing down goals and strategies help with initial anxiety, and when the chaos creeps in – you can refer to the notes.

I won’t be talking about jobs, freelancing or how much you can make as a business, but rather what steps I took before I did quit my last full-time position, and what you can do to prepare yourself, for when things go wrong.

It’s safe to say to many people fantasise about quitting their jobs, being their boss, having the freedom to do whatever they want. However, as attractive as it sounds, it’s not that simple. More than often, instead of creating a business, people create a job for themselves but without the benefits of working for someone else.

Michael Gerber describes this paradox in ‘E-myth‘. Of course, it doesn’t mean you can’t be a freelancer. I did write about it before – in my opinion, the best way is to combine the two. Learn skills that can make you money but also have another stream of income from other businesses.

 

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For everyone, the journey will be different, so I will outline the steps I took before I handed my notice.

First, it was a decision to leave. There were many different reasons for that, however at that time, over 2.5 years ago, I was 100% certain I wanted to leave my current employer.

That was in April.

Even though I knew the end was coming, what I didn’t do was quit my job on the next day. I’ve done that before, but it was when I knew I could find another position next day.

This time I didn’t have that luxury, so I decided to leave at the end of December same year. Yes, December.

I gave myself eight months to figure out the next steps. At that time I didn’t know what to do; find another job, move to a different industry, change careers, start freelancing, open a business. Next months were full of research, experiments, going to trade events and conferences. I went through the motions, being both excited and depressed for the most time.

Finally, I went back to the drawing board and started from scratch. I asked myself.

What are you good at?

What can make you money straight away?

What do you want to do in 5,10,15 years from now?

I got rid of a short-term planning anxiety and started to focus on long term goals. In the end, the decision was to freelance from home, do simple jobs online such as editing audio and videos as I work on other projects in spare time.

Good.

What’s next?

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Finances were the next issue to tackle. I had some savings, but I planned for the worst – what if I can’t bring in any money for the next six months?

Plus I needed to upgrade my system if I wanted to work from home.

I calculated an absolute minimum I needed to survive – rent and food and ‘startup’ cash. It meant no parties, no holidays, no extra spending for an unknown time. Having all the numbers written on paper, I got a loan from the bank.

The loan was an addition to my saving but helped to ease the anxiety and fear in the beginning. It helped, especially that for the first four months I didn’t make any cash and was burning through the savings fast. I handed my notice, and on 1st of January, I was officially self-employed and adamant to make it work. Two years later – I’m still here.

My word of advice is to plan and prepare for the worst. People tend to optimise for best-case scenarios, especially when things are going well. If you are 100% sure you want to leave a paid job and start a business on your own – have a plan A, plan B, plan C and worst case scenario rescue. It’s all so you can sleep well at night, knowing that you prepared. Even if things go ok, there will be days when you will question your decision.

Days when you ask yourself if you are good enough, if you can make it, if you are just wasting time. Enough money in your bank, skills that you know can make you money straight away and friends/partners that keep pushing you are invaluable – don’t dismiss it.

The first year after leaving my job, my net income was slashed to 1/3 of what I was making before – that opens your eyes and can make you depressed, and that was a year of hustling, freelancing and frugality

Two years after and I would never go back to a full-time job (unless there is some unexpected turn of events) – even six months can make a drastic difference in your life.

It takes time, discipline, hard work and drive.

Is it all worth it in the end?

That’s up to you.

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Economy and Jobs of the Future

Economy and Jobs of the Future

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26 NOVEMBER 2017

written by Mike

ECONOMY AND

JOBS OF THE FUTURE

Automation, self-driving cars, artificial intelligence and robots.

If you read any technological blogs or futuristic predictions, then I would be surprised if you didn’t recognise any of these terms. It all sounds like something from a sci-fi movie. However, if you look close enough, you will see the change unfolding before your eyes.

Many people think that the change will be sudden and disruptive. The statement is both true and false.

Ten years ago smartphones were just being introduced; now we can’t imagine living without them. But because we live through the change, we don’t see it as sudden.

This short post won’t be about the technological shift; I’m not an expert on the subject however as a freelancer and business owner it is part of my job to always be on the lookout. Let’s think what changes are more than likely come out shortly and how you and I can prepare ourselves.

The topic is just a short extension of ideas from people like Elon Musk, Peter Diamandis, Seth Godin and others. They talk about the coming switch, they warn us about the possible ramifications.

The one that may have the biggest impact on the current job market is automation

People like Diamandis often put abundance society and automation in one sentence, however, a big change won’t come without pain. 3D printing may disrupt manufacturing world as we know it, more and more factories are using robots rather than human beings, and with time the speed of the replacement will pick up.

Let’s look at modern supermarkets; you already have self-service scanning bays that replace the cashiers – now imagine a product scanners similar to airport security checks in every shop. You push the trolley through it, and it scans all the products in it. No doubt it will come and replace even more people on the floor, Amazon has already tried something similar.

It won’t just be simple jobs, any task that can be put in an algorithm can eventually be replaced – Accounting, finance services, law, health diagnosis, programming.

BBC has an interesting service that ‘predicts’ how likely your job could be replaced.

Sooner or later someone will come up with a new app, new software and unfortunately, it will replace the people. What is more cost efficient? People with salaries, benefits and bonuses working 8 hours a day?

Or a piece of code that can run 24/7?

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This change will present a new view of work and jobs. The terms such as gig economy or on-demand economy have been featured in most reports on future of work. The people who favour it say that you will get paid for the value you bring, you will get chosen for projects best suited for you, you will do work based on your strengths.

On the other side, we have voices that say that the gig economy does not guarantee workers rights, benefits or security. Both are right, and it will take a time till the society gets it right. 

Looking at it from my perspective, I made a list of a few pros and cons that will affect people close to me, and me.

Pros:

People will do what they are good at; automation will replace simple jobs, and we will be able to focus on creativity and problem solving rather than repetitive tasks.

You won’t be constricted to one place. Gig economy means that you can move wherever you like and still keep the same job as most work will be done over the internet. A lot of younger people prefer the freedom of choice over the stability.

Learning and development. A rapid change means that we will need to keep updating our skills and knowledge, the real studying starts when you leave the university, not when you are there. Lifelong learning will be necessary to keep up with the change.

Global connection. Working with people all around the world is already taking place and in the next few decades may become the standard. A lot of people see outsourcing as a means of cheap labour. I see it as a means of finding the best people in the world to do the job, beyond your city or country. Latest Pro Tools cloud functions give a preview of what is to come in the future.

Of course, not everything will be rosy, and change comes with pain. I can see that there will be a few negative aspects of the on-demand economy too.

 

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Cons:

Stable employment. It may be harder for people who prefer stability and staying in one place. When the jobs shift to a cloud, you either adapt or may be forgotten.

A lot of jobs will vanish. Yes, every economic shift creates new jobs however it means retraining people and acquiring new skills. It may be hard for some to adjust, especially when being accustomed to a place of work.

Protests. Not everyone may like it but globalisation is coming, and we can’t stop it. Protesting companies like Uber may slow it down, but eventually, the change will come, and a lot of people may stay behind.

Adjustment. Internet and new technologies change much faster than we can comprehend and most people are not adjusted to such rapid changes. It may scare and anger a lot of people. New training will need to be provided, so older generations are not left behind the shifts in the global economy.

The change will come in our lifetime. For some it will be good, for some, it may have a negative impact on lives.

My questions are – how to prepare? How can I secure my place in the future?

Flexibility is the key, the time when you hold a job for 40 years are mostly gone, and we are almost certain to have multiple careers throughout our lives.

What can you and I do today to start adjusting?

Find part-time jobs. Not in the local business or store but online. On top of your normal work, start experimenting with new technologies, social media and internet opportunities.

Learn new skills. Platforms such as Upwork release most demanded skill reports all the time. Study it and see if there is something that interests you, something that you could start learning today.

Do something radical for a test. Maybe there is something that you always wanted to do but never had a time for it? The internet allows for limitless trial and error endeavours; there isn’t a better time than now to try something new.

The change won’t be rapid and won’t happen on a set date. We don’t see it because we live it every day, but when we step outside and look on what is happening and what changed in the last 10-20 years, you can start seeing the trends and that they aren’t stopping – they are picking up the pace.

Instead of being afraid, let’s prepare for it and be excited.

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Podcasting and Audio Gadgets

Podcasting and Audio Gadgets

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19 NOVEMBER 2017

written by Mike

PODCASTING

AND AUDIO GADGETS

 

The most beautiful aspect of podcasting is how little you actually need to get started. Thanks to the internet, the distribution is free but even with the equipment – you don’t need to spend a fortune to get working.

Of course, there is a difference between starting a low-budget show and a full–on drama series.

Today I want to talk about the minimal setup as well as what I’m currently using to produce audio shows like Casefile.

Computer

You will need a working computer – it can be a laptop, a desktop or whatever you have got at the moment. It needs to be fast enough to process audio files, and for that, you will need a good hard drive (SSD would be recommended) and enough RAM (fast processor will help too).

At the beginning, you don’t need much and shouldn’t be looking into buying a brand new system, when I started producing podcasts I used my old MacBook Pro from 2011. I did upgrade RAM and SSD, but for nearly a year I worked on that.

At the moment I’m working on 27-inch iMac with upgraded RAM. It was a necessary upgrade – the production I’m doing right now is much involved than it was in the beginning.

 

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Software

To start, you will need an audio sequencer – a program that lets you edit and record a podcast. There is no need to go for the most expensive software, something like Garageband, Pro Tools First, Audition or Audacity will be fine.

Most sequencers are similar, it’s just the interface that looks different, and once you understand the basics, you will be able to change to something else with ease.

In the beginning, choose something that looks and feels most comfortable for you. I would recommend doing a bit of research and trying out demos and free versions. You won’t be investing in third-party plugins and tools, therefore, choose a software that offers the best all-in-one.

I’ve used many different sequencers in the past. However, I’ve always come back to main two – Apple Logic for music and Avid Pro Tools for audio editing and mix.

Over a year ago I decided to simplify even further, and once I was happy that Pro Tools could fulfil my scoring needs, I moved everything there.

At the moment I’m using Pro Tools 12 for scoring, editing, recording and mixing.

Microphone

Again, you don’t need to spend a lot of money to start. There are plenty of USB microphones to choose from, with Blue Mic company being the most popular. The thing with mics is that you will need one that works well with your voice, that compliments your narration. That’s quite difficult to achieve because you probably won’t have a chance to test many different setups.

USB is the best solution because you won’t need anything else – no extra cables, no stands, no audio interface.

I don’t have my podcast, but the microphone I use for other recordings is Shure SM7B. It’s a legendary voice microphone, mostly used for broadcasting. To operate it I need an audio interface as well as a gain booster; it’s not the simplest solution to start with.

 

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Headphones

Editing and mixing on computer speakers is a no. You won’t need expensive audio monitors (professional speakers), but good headphones are a must – especially for editing. There is no need to overspend but beware of a consumer product; you need something that will give you the most detailed and neutral representation of sound as possible. Of course, having a pair of two of consumer headphones for a reference is a good way to make sure that the mix sounds good on different systems.

For editing and mixing, I use Sony MDR-7506 closed-cup headphones. I also have a few pairs of earbuds – from cheap to more expensive. I use them to reference the mix and get the picture how it will sound on different devices.

Plugins

Plugins are the tools that will make your recording and mix sound good. These are the reverbs, compressors, EQ and other sound changing solutions. When you start, you will use plugins that are available in the audio sequencer of your choice – that’s why choosing one that offers the best range will be a smart choice. For example, even though Pro Tools is my operating program, it doesn’t come with a wide selection of plugins. Unless you have bought something from a third party – it may not be a good solution.

On the other hand, something like Logic or Adobe Audition comes with a wide selection of tools that will help you during production. Research of what you will need (which will change as you progress anyway) and select a program that will help you rather that limit you.

For my work, I use third-party plugins from Izotope, for mixing and mastering. These tools are the best on the market but come with a quite high price tag – you won’t need them when you start, but if you ever want to get into professional audio production you will need to familiarise yourself with iZotope.

 

My last word of advice is not to go overboard with the gear and gadgets. Most of us want to start with the best equipment, whatever hobby we pick up.

Make sure you can start on the cheap and only if you like it and want to continue, then start upgrading. There is nothing worse than getting the hype, spending lots of money on something that will gather dust in the corner of your room.

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Importance of Templating

Importance of Templating

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13 NOVEMBER 2017

written by Mike

IMPORTANCE

OF TEMPLATING

Templating.
Working with a large team, multiple departments and international deliverables we had to streamline the process and put strong systems in place.
Templating Pro Tools sessions, emails, archives became my day-to-day habit, and it helped me to deliver the best results.

But, what do I mean by template?

What are templates?

For me, these are rules by which people do their work. Guidelines and systems that make the everyday tasks easy to follow and consistent.
Because in any work you will ever do, consistency is the key. One lucky break will not make the whole business work, but everyday persistence will make sure that there will be a lot of ‘lucky brakes’.

Templates help to minimise the work that is not creative and focus on what is important.
Templates can be a start, they can and should be adjusted and upgraded with time.

The pros of templating are:
speed – by having a guide and workable systems in place you can be sure that the output will be much faster, you and your team will be able to do more and focus on the core of the business

easy to learn – when templates are done right, they are easy to explain for new teammates, you know the system will always work the same way, and the instructions will keep everyone on the same page

quality and standards – it is safe to say that when using templates all of your work will be done to the same standards; when you design a well-working system you can relax knowing that the results will always be the same.

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Every solution has bad sides; I’m not claiming that templating is the answer to everything.

The cons of templating are:

can stifle creativity – working just to templates will have you thinking in one way, you can’t be too creative when doing work otherwise you can mess up the system

errors – an error in a template means that everyone who works on it will be infected, even if it’s a small thing it is a pain to go back and correct already submitted work

slows down innovation – designing a workable template takes time and once you spent the necessary work-hours you don’t want to abandon the system just because there is something new on the horizon; sometimes it means that you can miss out on new and better solutions

Overall I’m a big fan of templates. I think using a system, even in what some say creative work can vastly improve the results and output.
You can start implementing templates in all areas of your life; at home, you may not call it templates, but habits.
Morning and evening habits that you stick to will help you to start and end the day on a good note. Exercising habits will keep your health in check; scheduling eating times will make your days work for you.                                                                                                                                                                  
It’s not about designing robotic life but rather systemising parts of it that you don’t have to think. It allows you to focus on work that you enjoy doing.

At work using templates is a no-brainer. It can be as simple as emails or as complicated as Pro Tools sessions; it depends on your task.
Think about every aspect of your day; what parts of it could be replaced by artificial intelligence or a robot?
What parts are repetitive and boring?

Then start thinking how you can systemise them and what solutions are out there. I promise that if you know where and how to look, you can find a system for almost anything that you do.

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Are you working IN or ON the business?

Are you working IN or ON the business?

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29 OCTOBER 2017

written by Mike

ARE YOU WORKING

IN OR ON THE BUSINESS?

 

Who doesn’t want to be their boss?

To make the hours, take holidays when you want, not answering to anyone when you make a decision. It sounds fantastic, and even though it wasn’t my main reason to leave a good job, I can’t say I didn’t think of that. Two years have passed, and I can say that ‘doing it’ on your own is not easy, and not for everyone.

One of the distinctions that I can make is the difference between building a business and being a business. These are not exclusive but it is vital to know the difference, and Michael Gerber ‘E-Myth’ best explains that.

The truth is that most don’t create a business – they create a job for themselves. When I left my last workplace, I started freelancing.

Is freelancing a business?

It is on paper, but in reality, it was a job that I had to attend every day, even though it was done from home. That’s the biggest mistake people make, according to Gerber. After the grand opening, they quickly create a job for themselves and start working in the business rather than on the business.

 

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So what I could do differently?

Well, if I wanted to start an editing business I would need to find people who edit for me and my job would be to bring new projects – make sales. The profit made by paying the editors and charging the clients would be mine – as a main shareholder in the business. Hence why most small businesses fail. You can’t grow the venture if you are doing the work, which is, of course, a classic catch-22. Most people start a small business on a shoe-string budget; every penny counts, therefore, doing most of the work is the best way to save and reinvest.

But what if you want to do the work?

What if you enjoy it?

That’s not a problem, according to Seth Godin. 

He started various businesses but calls himself a freelancer. If you are a writer, musician, producer, consultant – you are de facto a freelancer. That is, you charge a client for your advice and time you spend on the problem.

Let’s take me for example; I enjoy producing Casefile podcast – writing music for it, editing it, mixing the show. I could hire someone to do the work for me and start a production business, but I don’t want to. I like being part of the team.

My partner is a graphic designer; she too is a freelancer, she trades expertise and time for money. However, on the last project she hired someone else to do the work, she is dealing with the client and the freelancer and takes a fee for being a person in the middle. Business should be a machine, a machine that can run even if you are away on holiday, even when you sleep.

Freelancing does not make you money when you sleep, as you are the money-making machine.

 

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So what is the best way? What is the magic answer?

Like with most things in life, there is none. First, you need to know yourself, what do you like to do, how do you envision your future. Next, take steps based on that vision.m. Starting a business is a lot of work, and there is a high risk of failure.

Are you comfortable with that?

Do you know how to bring clients and sales to the table?

On the other hand, freelancing has a ceiling. There will be a time when you won’t be able to charge more per hour of your service than the maximum, with a business you don’t have these limits. For myself, I reckon the best way is to mix two options.

If you are a freelancer, that means you have a money making skills. It can be graphic design, editing, marketing – it doesn’t matter. You know that worst case scenario you can always make money to cover the bills, you know you can rely on yourself. 

Then you can try your strengths in business. Learn how it works, experiment, fail and try again. It will still be scary, but there will be a comfort on the back of your mind. You know that even if you close the venture, you can always make money with you, with your skills.

I think it gives an easier way to take risks because it won’t make you too desperate. It also mitigates some of the risks, and business (and life) is all about risk control.

How can you try and experiment but protect the downside and your assets at the same time?

What is the best way to turn the opportunity in your favour?

If you are on a fence and thinking of quitting your job, ask yourself first – what is that you want to do and achieve?

What is the best way to do it, while protecting your current situation?

And then, if you are bold enough, leap.

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