#11: What's Your Financial Runway?

Entrepreneurs Can Party

English - April 04, 2020 00:00 - 17 minutes - 11.8 MB - ★★★★★ - 10 ratings
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Previous Episode: #10: Manifesting your Dream Life with Zoe Ellmore

Next Episode: Trailer for #12: Making 6 Figures Through Brand Storytelling with Nicole Hernandez

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"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.