The Great Resignation with Ashlee Marie | Ep. 144

• Coach A' Marie warns against following the Great Resignation trend without preparation. She emphasizes building generational wealth and establishing a legacy rather than making an exit only to return to traditional employment.

Do not follow the trend. You need to become the trend. And what I mean by that is building generational wealth, establishing a legacy.

• Before quitting, evaluate all money habits by reviewing bank statements from the last 30-90 days. Identify who currently has your money and assess proper money management skills.

If I was to pull up your bank statements today for the last 30, 60, and 90 days and sit down with you as your financial coach, I would be able to tell you right now while you're not able to make that epic exit into that nine to five.

• Complete major purchases like homes or cars while still employed with W-2 income. Banks require traditional employment verification, making these transactions significantly harder as an entrepreneur.

The banks are going to be looking for you to have things like proper money management. I'm going to say it again, proper money management.

• Hiring a bookkeeper and eventually an assistant is essential. Many entrepreneurs simply 'fire their boss and hire themselves' without treating themselves better than their former employer did.

As cute as it is to become a solopreneur, all you did was fire your boss and hire yourself. And most of us do not treat ourselves better than how our employer treated us.

• Tiffany shares her struggle with hiring an assistant due to scarcity mindset. A friend helped her realize that hiring support could actually generate more revenue by freeing up time for revenue-generating activities.

If you hire someone, someone you can actually make more money because you have them going through your emails, doing all that stuff for you that is holding you back right now.

• Ashlee saved 25% of her corporate income to train herself for entrepreneurship. She emphasizes preparing infrastructure and mindset before making the leap.

I begin saving about 25% of my income when I was on that corporate gig. I trained myself while working how to train myself becoming a boss.

• Calculate the minimum monthly income needed to sustain your lifestyle. Ashlee's number is $5,500/month, which includes essentials like health insurance, life insurance, and basic transportation.

I know that for me, I need to bring about $5,500 a month into my household for me to live comfortably. Only you know what that number is.

• Tiffany took it further by calculating her daily requirement ($50/day), which empowered her to see that she could replace her salary through gig work and entrepreneurship in just a few hours.

It was $50 a day... I could make $50 in three hours of driving maybe. And I was like, why am I sitting here for so long when I could make my $50 and then just work on Money Talk with Tiff?

• Tiffany creates a full business budget each December, projecting clients, speaking engagements, and product sales. This allows her to track progress and adjust throughout the year.

Before the year starts... I'll go ahead and create like a business budget for the year... I break it all the way down so that way I can say, okay. If I sell two t-shirts, get one new client, do one speaking engagement, I've hit my goal.

• Understanding daily cash flow requirements transforms the exit from overwhelming to attainable. Knowing exactly what you need to earn daily makes the goal concrete and actionable.

If you didn't get anything else from this, know your cashflow.

• Even when Tiffany missed her $100K profit goal, having projections allowed her to analyze what went wrong and adjust strategy. Large corporations use this approach—entrepreneurs should too.

Even if I don't make my goals... Because I had a plan, I could go back and see, okay, where did I not hit? What did I need to do more of?

• Rather than waiting for a layoff, proactively plan your departure. Ashlee encourages women to 'buy your way to freedom' by building a business that aligns with your values and desired lifestyle.

Begin to chart your journey out of corporate America before they decide to chart you out of their business. Because if you don't fire them, at some point they will say to you, when you reach a certain pinnacle of success, you cannot do both.