I absolutely love th
[2022-01-14 08:00:37 AM] : I absolutely love this recent tweet, and think it describes the 30x500 path well: https://twitter.com/Nicolascole77/status/1481406004952764416
1 Reply
[2022-01-14 08:03:35 AM] : Basically, your process should be:
1. choose a skill
2. do that skill while working a full-time job
3. start freelancing using that skill, turning your free work into paid work
4. quit your job when you're making enough from freelancing
5. replace the day job with product building, while freelancing part time
6. once your products earn enough, quit the freelancing
7. now you're building products full-time :sunglasses:
I can see how freelancing might provide the breadth of experience that a full-time job alone doesn't provide. But also, it's probably possible to skip the freelancing part and go straight to product building
[2022-01-14 08:04:10 AM] : The freelance approach might also be good if the skill you chose is different from what you do full-time
[2022-01-18 09:13:03 AM] : I’m currently trying to skip the freelance step too. I’ve never done freelancing before, but it always seemed it will take a lot of time to find good clients, discuss rates, chasing payments, keeping up to date with the industry in your own time...
I think a fulltime job is better in that sense, but I believe freelancing has advantages too.
[2022-01-18 10:39:26 AM] : I'm finding that the freelancing step makes me way more money with way less effort than building a project (so far)
[2022-01-18 10:39:45 AM] : it makes it hard to justify doing less freelancing in favor of shipping products, which is what I actually want
[2022-01-18 11:10:28 AM] : Oh yeah, that’s true. I try to think about it as an investment for the future, but it’s hard to keep the motivation when you don’t see any tangible returns “now”
[2022-01-18 11:42:56 AM] : the other thing I think people overlook when they skip freelancing is the MUCH faster cycle of learning that comes with interacting directly with clients.
[2022-01-18 11:44:05 AM] : you learn a lot about business (broadly) and what people want and need for their businesses more specifically, while selling services. the skills you learn aren't switches, they're muscles, and freelancing is a great way to get in a lot more reps, and a lot more quickly, than the slow cycles of product sales.
[2022-01-18 02:15:09 PM] : Yes! I have loved learning exactly what folks are struggling with! That’s definitely the best part of consulting!
[2022-01-18 02:15:47 PM] : i personally found freelancing to be really stressful when i tried it last year, but it was def a HUGE learning opportunity for thinking of your service as a business (and dealing with the whole sales process, and insurance, and time management, and everything else).
that said, i'm enjoying the more relaxed pace of holding a job right now, and writing e-bombs based on what i'm doing at work :slightly_smiling_face:
[2022-01-18 02:19:46 PM] : it's very tempting to go back to freelancing for me, but i want to invest that time into new skills (through side projects) instead
[2022-01-18 02:21:17 PM] : yep, if you can find a job with a relaxing pace and low stress, it's just another way of buying your time/energy to spend elsewhere.
[2022-01-18 02:22:45 PM] : i know a lot of 30x500 students (and this was my case personally) who just could not work for someone else anymore, and another job was likely to just trade the same problems.
that's a mix of personal situation + the industry you work in + the pace you're comfortable with.
[2022-01-18 03:03:56 PM] : I also like knowing that services are always an escape hatch option in various situations where there might be a cash crunch.
I've avoided taking on bad debt for one business by taking on a quick but high value contract, or taken my time making high-value decisions that shouldn't be rushed because I was able to supplement with a bespoke service contract.
the key is not getting hooked on it! :wink:
if you think of services as a tool instead of an identity, it can become a part of many business configurations.
[2022-01-18 06:34:53 PM] : Happened to me too. I believe it's totally compatible with building products. I see both as complementary. As Alex said, freelancing makes you learn faster, and you can apply that to know what products to build.
[2022-01-19 03:33:28 PM] : My experience has been freelancing in other industry(s) which in part I loved but came to hate with a passion the majority of it.
This course and product business on side - on third audience.
Product business 100% before I was ready - catalyst of lockdown.
Was super anti freelance work because of previous experiences.
Asked to do a different sort of “done for you” freelance work - coaching rather than spreadsheets.
Did a fair amount of small jobs free. Enjoyed it. Learnt a lot per what Alex was saying.
Got asked to do something more for a fee. Enjoyed that so made coaching a productised service.
The other thing about freelancing is that it gives some (more) credibility to what your helping your audience with - ie in your bio.
Some advice I got from this community is “it’s ok to do things that don’t scale, if they help you survive and also learn to help your audience better.”
The mental transition for me was thinking the product business comes first. The consulting needs to fit and compliment the development and growth of that. Can’t say I got it super right but that’s my story so far anyhow :man-shrugging::blush: