5 Things To Do If You Hate Your Job (Ep584)

Both of us have worked in jobs that we hated in the past and we were both able to leave them to great success. Here’s 5 things you can do if you hate your job

0:00 – Introduction
0:55 – Our stories and why we quit our jobs
3:08 – #1 Foundational Properties
5:57 – How your foundational properties allows you to quit your job within just a couple of years
8:55 – #2 Full Time Property Investing
11:23 – #3 Start a Side Business or Full Time Business
14:33 – #4 Change Your Job/Career
15:35 – How sunk cost bias holds you back
19:45 – #5 Learn To Love Your Job and Life
24:45 – Summary

How To Start a Side Business – https://www.youtube.com/watch?v=3Z9POlaRkc0
Flow by Mihaly Csikszentmihalyi – http://onproperty.com.au/flow/

Recommended Videos

How to Start a Side Business – https://www.youtube.com/watch?v=3Z9POlaRkc0
How I Achieved Financial Freedom at 28 – How I Achieved Financial Freedom at 28 With Online Passive Income

Transcription:

Your job is where you’re going to spend the majority of your waking hours and also the majority of your creativity, but a lot of you out there absolutely hate your job and want to be out of it. So in this episode we want to talk about five things that you can do if you hate your job. And both Ben and I have had a jobs in the past now work for ourselves and loving our jobs. Yeah. Like that’s an understatement. I reckon I’ve worked in 40 different jobs since I was 13 and I reckon I’ve hated $39. I just despised the most of the people I worked with, all the roles that I was doing or the companies I didn’t believe in. Like it’s pretty easy to hate your fucking job. Let’s face it. Yeah. And even when you have a good job sometimes or a good job by everyone else has standards.

There can be things in that that you hate. Maybe have a really difficult manager that you have to deal with every day or there’s pressures on you that are just too much. Like I remember working as a pharmaceutical rep and I really enjoyed the work, but the budget was so big, the pressure was so high and the way the company was moving towards just cutting, cutting all the support and everything just made me more like a cognitive machine rather than a creative human. And so that caused me to hate my job even though by traditional standards it was a great job that paid well and was not that difficult. The remember the day you got that job? I remember when I got a job like that as well in marketing, I was like, oh my God, like high fiving, having some beers with my wife.

So excited be within two and a half years. I couldn’t stand spending another day in there. So what? I remember getting the job, which was an internal promotion and we actually relocated from Sydney to Newcastle for the job. So I’m pretty excited about it. I did really enjoy it and the people that I worked with was great, but I also remember the day that I quit my job and just on the phone to my wife crying, being like, I just can’t do this anymore. I think that was 12 or maybe 18 months into the role from being super excited, relocating for it too. I kind of, I remember being crying on the phone to my lab as well, but that was because I got sacked from the last time that I had was sort of forced into starting my own business a bit. A, I’d probably still be working for mild vice right now to be honest if I hadn’t had been set.

So all things happen for a reason, but if you hate your job, we’ve got some different ideas on how you know you can figure yourself out a bit sooner. So we’ve both been there, hated our job, been in those positions and both being able to leave our jobs either voluntarily, like myself, opening out on the streets, down of it by Ben, but he didn’t have to go back into another job that we hate and we talk to people every single day who were in that position where they’re like, I see what you guys are doing. I want to love my life and love my job as well. How can I get out of it? So really excited to get this wrong. There’s tough days in working for yourself to like, I’m sure you days working for yourself than you’ve ever had working for someone else. Yes. But you know, it’s for yourself and there’s this other other thing going on which is your life’s purpose being demonstrated through work. So it kind of feels cool when you make a bit more money to.

Okay. Yeah. So the first one is what we’re going to call foundational properties. So a lot of people come to us and they want to invest in property with the sole purpose of being able to quit their job, which is great. You want to be able to do what you want with your time, but generally speaking, investing in property, unless you’re being extremely active, potentially taking high risk investments is not going to happen over a one or two year period to achieve that financial freedom. It’s going to happen more of a 15 year period. And so this concept of foundational properties, rather than getting you financially free in two or three years, we’re actually going to acquire the properties that will go on to deliver financial freedom in the future. But we need our crappy job to buy those properties and to borrow the money. But once we purchase them then we don’t need that job anymore. So it gives us more options. So do you want to kind of outline what those foundational properties are and how people can go about that? Sure. So

everything that Ryan and I talk about property wise is secure, extremely high quality in good markets, close to the metro markets. You know, nice big piece of land with houses on them, so it’s always a low risk, low maintenance approach to investing and what we’re really talking about here. It’s super simple guidance by a nice home in an area that you can legally constructed granny flat on in the future. Go out and buy another nice home. Rent out those two houses, build granny flats over the next period of time on the backs of each of those houses. So you’ve effectively got four sets of income and then at some point in the future, work towards owning both of those houses, both of those granny flats outright and you know, kick back with that passive income for life or step it up and go and do whatever it is that you want to do.

So the hardest part in that is actually going out and acquiring those properties. So you need a job to be able to save your deposit, to be able to borrow money to buy those properties. But once you’ve purchased those properties and build the granny flats, hopefully you should be in a positive cashflow position. Which means that those properties are paying for themselves, but they’re also paying themselves off. So after you’ve acquired them, they’re not making you heaps of money in the short term in terms of positive cashflow, but your goal becomes to pay them off over time or just let them pay themselves off over time. And because you’ve now acquired these properties, you don’t need that job anymore. Those properties will eventually pay themselves off and when they do pay themselves off, then you will be financially free. So it’s like you have that security. It’s working away in the background for you and we’ll deliver financial freedom in the future so you know that. So that then frees you up to say, okay, I don’t need to worry about my financial future. Let’s look at my career and my life because I don’t want to spend the next 15 years hating my life. What can I do? Knowing that I will be financially free was the job I will enjoy.

I love that for two reasons. One is for that couple of years that you have to continue to go and work for someone else while you execute that foundational property strategy. It gives you a reason to go to work. It’s fun going to work when your paycheck’s going towards investing or building granny flats or whatever. Um, the second thing there is knowing that you will be financially free in the future takes all of that fear away that you currently have from, you know, how am I going to survive? How am I going to not be under pension, down the line? Or how am I going to keep my head in this shitty job for the next 15 to 45 years and to get out, you know, as Ryan said, retrain changed careers, worked for different companies and start loving what you do every day. Again, which is what it’s all about. Or maybe not loving it, but at least making a shit ton of money as quickly as you can. Whatever it is that you want to do.

Well, the thing that I love about the foundational properties, and we’ll probably spend more time on this point than we will on the next ones, but the thing that I love about this is that it changes your perspective, so rather than you worrying about the next 60 years of your life and how you’re going to be able to afford that, you know that in 15 years time or 20 years time you’ll be financially free. You don’t need to worry about that anymore because you’ve got these good longterm investments. What all you need to worry about now is the immediate bills that need to be paid and so that then gives you options to maybe cut some expenses in your life so you can maybe have a lower paying job, but one that you enjoy more or one that has less stressed. So then when you finished your job, you can go to the beach or spend time with your kids without worrying about it or doing overtime that you don’t want to do and you’re not getting paid for because you’re on Saturday.

Yeah, and I’ve done this personally, like I really didn’t like the job that I had, but it was paying excellent money, but I knew I wanted to get into the property space. I took a huge pay cut, like literally went down to 30 percent of my previous wage and bonus structure that was on to move into a space that I love, but unconsciously at that time, like I’d bought enough properties to know that I’d be free in the future. Um, I just, you know, didn’t think about it that way because I hadn’t met you. You had an this process, so simple and it kind of enabled me to jump across with confidence knowing that worst case scenario, I’m still going to be fun. You know, so on those will do what I love today and that enables me to do better tomorrow.

And the thing is, if you’ve got those foundational properties and you do quit your job and pursue something else that you love and find out that it’s not sustainable, you’re not earning enough money, we can always jump back into the role you were previously doing or something similar. So if you’re in sales and you don’t like it and you step out of it to pursue not for profit work

and then decide, okay, I kinda six figures, yeah, or you have

kids and you have more expenses, then you can always jump back into sales or whatever your role may be. So you have flexibility within that, but you know that your security set up and that’s just going to really help you in your life. Hopefully find a job that you do love. So moving onto the second one, which is for I guess a smaller percentage of the audience, but people who really love property and really want to do that and that’s investing in property fulltime.

Yeah. So it might be a, you know thing for a couple of years. You do a couple of projects on the side, maybe it’s a renovation, maybe it’s a new build that you flip. Maybe it’s a subdivision or a small townhouse development. And then over time, once you’ve got a couple of years of business trading history behind you, you then slide into it full time. And this can really work for engineers, builders, tradies town planners, you know, x town planners from council generally have good hookups. So this sort of thing like people that you know have the right skillset can move into it relatively easily. Otherwise people that are just passionate about it and prepared to learn.

Yeah. So there are some difficulties with this because obviously borrowing money to purchase property, you need an income behind you. So generally people will start this on the side while they still have their business going and then once it becomes a proper profitable venture and they can prove that and get lending based off that, then they can make it full time. But if you don’t own any property and you just have a deposit, then quitting your job to go full time in property, the chances of you getting a loan with no job and no prior history of success is slim to none. Absolutely

nothing. Like I know clients that we’re working with it have big, big, big money in the bank, but just sold a business or aren’t working. You know, it’s, it’s a zero unless they want to pay for it out of cash.

Yeah. So unless you have a big chunk of cash that you can fully invested into it without requiring alone at all, it’s going to be more difficult. But starting on the side and building up side income is definitely a potential way to do it through developments or flipping property.

Yeah. And I’m working with a builder at the moment. He’s just a young guy. I think he’s about 35. Um, he has started to do this part time. He’s just done a seeks lot subdivision with a couple of friends. They’ve all track their money together. They’re just gone and bought a second one, done another seeks lot subdivision. He sort of building up a couple of years of trading history into his business and then he’s planning is within a couple of years time to go full time. So he is hustling hard, like he’s working. He’s normal full time job plus doing that on the weekends. But it’s a clear reason to do that so that he can get his life back sooner.

Yep. So probably full time as an option if you’re absolutely passionate about it and willing to do the work to make it happen. The third one is to start a side business or a full time business. And so this is how I got out of my job was I started. So you right? Yeah, yeah. As we started businesses on the side while we were working full time. So I remember working full time as a pharmaceutical rep and I was creating podcasts in the car as I finished work as a finished work. I’d be in the car before I went into the house. I’d record a podcast episode or two and do that, or I will writing blog posts on the train on the way to work. I started this side business which eventually group at. I took the leap and I was making about 500 to a thousand dollars per month in my side business when I went full time.

So going from six figures a year to maybe like six to $12,000 a year. He had charged at that time had two children, kids crazy.

Um, but so I’m kind of on the extreme side of the spectrum, but again, I made that jump knowing that we had a bit of savings behind us that this might last three months or six months before we run out of money, but then I get to work on it full time and build it up and then I might have to go back to work, then I might have to work for another year or two and then maybe I could do another three to six months. So that was kind of always the intention, but luckily you, me and my wife worked out how we could make it work full time so it didn’t have to go back to work. So that’s awesome. So I left my job knowing that I could go back to work, nearly went back into the pharmaceutical industry, how within about two or three months. But yeah. So what you can do to start a side business and build it up and then move across into it.

Yeah. And I was lucky enough to do the same thing. I was working in marketing at the time and I started writing the pumped on property blog at night and then after a couple of years of doing that, some people started approaching me to get some support and slowly over time I was able to sort of transitioning to that and then I got booted by my boss, which was like the best thing that’s ever happened to me looking back, but at the time the hardest thing and you know, it was lucky enough to start this sort of stuff with Ryan full time. So it’s been really cool and you know, native is fully committed to just doing it a hundred percent. I, I certainly didn’t have a plan when I originally started pumped on property to go, this is my dream job, this is everything I’m going to put into it. I’m going to be doing it full time within a couple of years. It was just a way of doing something that I enjoyed outside of work that allows me to create a secondary income for my family.

Yeah, and that’s secondary income as well. You could use to pay off your foundational properties earlier while keeping your job, but if you absolutely hate it and want to get out of it, then starting that side business, working fulltime job and building up a side business as that side business starts to catch up to the income of your full time job, then maybe you can take a pay cut and move across full time and yeah, that could take a period of a couple of years to get there, but it’s totally worth it. And we have main. Ben Did a full video on how to start a side business, so we’ll link that up in the description down below as well. The side business, a side hustle, so obviously we love that because we did that. The fourth one is to simply change your job, so if you’re in a job that you hate, have a look around and change your job or get educated and train yourself up so you can work in a different role.

Yeah, it’s a no brainer, but it’s a lot harder for most people than it sounds for you and like you and I

will only tolerate a certain amount in our personalities before we have to make a change because we are very like, you know, this is how going to do stuff with brazen people and we’re very assertive and I feel like if we’re in jobs that we hate, we rub up against people the wrong way and then we’d probably get fired anyway. So we have to change jobs. But for most people it’s not that easy. Especially when you have commitments. I just think, you know, you’ve always got as that as an option. They’re like, you can always, if you hate your job, change it. You can always learn some skills at night, like we both did to re skill to get a better job in the same company. Like there’s always that option there and for some reason it’s the simplest option, but most of it’s just don’t take it.

There’s this thing in psychology called sunk cost bias or sunk cost bias is when you’re trying to make a decision rather than just wiping the slate clean and saying, okay, what’s going to be the best decision for me moving forward? You have this thing called sunk cost bias, which is if you’ve invested into something a lot, you’re more likely to take that into account even though it doesn’t make any difference. So a prime example is, I used to work in the pharmaceutical industry. A lot of pharmacists absolutely hate their jobs. They don’t like, is that real? You know, so they’ve studied four or five years in order to do this job and so when they’re deciding do I stay as a pharmacist, which I hate, or do I go and work at something else? They say, well, I’ve already invested five years into becoming a pharmacist, so I may as well stay as a pharmacist even though if you took away the five years of study, they’re like, well, I hate my job.

So the natural inclination would be to do something else. But that sunk cost bias comes into play and it happens a lot of business as well. If you’ve invested a lot into something and it’s not going well and there’s a better option, but you’ve invested into something, you’re more likely to stick with that. It’s better just to write that stuff off, pretend that it doesn’t exist. So when you’re thinking about should I look for another job, try and pretend like you’ve invested nothing into your career and to where you’ve gotten and try and think, okay, imagine I’m starting absolutely from scratch. What would I do? And you may need to change your life and cut costs in order to do that, but try and think about, wipe everything away and look forward to the next three years, five years, 10 years and say, okay, starting from scratch, where do I want to be in five years or 10 years?

And then that will hopefully make the transition and the decision to move across easier. It’s an interesting one because there’s a whole lot of things there. There’s the physical skill set that you have in a job in retraining, but something that I focus on when I look back now and I think it’s super valuable for anyone that really hates their job, is I focus less on traditional industry, um, as my focus. Like a lot of people go, I’m a builder, so I just continued to build skill sets in building where I always thought I’m a businessman longterm and I need sales skills and marketing skills. I need account keeping skills. I needed leadership and management skills.

And so I always went into jobs looking at how can I build that skillset as opposed to how can I build up a trajectory down one path. And I think that is the big thing that enables you to transition easiest is building management skills, leadership skills, sales skills as opposed to physical tactical job base skill, you know, and, and a lot of the doctors, a lot of the nurses, a lot of the government workers we work with find that the only way for them to move forward or change to get happiness and their job is to go down the same path. And you know, that bias is exactly the reason why I just never knew.

Well, it’s very hard for doctors who were making $300,000 per year to then move into something that’s going to pay them 30 grand a year or two to start from scratch when they’ve invested so much. But I guess never. There’s a saying that me and my wife always had, which is never be afraid to hit the reset button. And we always had that in our life. And we’ve done that moving locations many times. And then recently like the split in our marriage, we’re like, we’ll never be afraid to hit the reset button in your life for what’s gonna. Be Best for your future and earning a lot of money, but hating your life. I don’t think that’s worth it. And that’s why we talked about the foundational properties in the beginning. Um, so you could potentially go down that path. But yeah, I just don’t think the payoff for hating your life is worth it at. Agree with vape down

very hard periods of our lives doing different things and a lot of people watching this feel the same way and it doesn’t always have to be like that. Like some of the doctors that have invested 10, 15 years that we’ve worked with Dan one space, they don’t necessarily stop paying doctors. They might set up the practice and then not build themselves out to the same weekly hours or a lot of them just go from working five, six days a week down to three days a week. Go from three or 400 k a year, the end of 200. And have a much higher quality of life where they get to be more of themselves outside of their job too, which I think is just as important.

Yeah. And so that leads us onto the last one, which is learn to love your job so you can actually find ways to love a job that you hate. Now, if the interpersonal stuff is really difficult and you’re working with managers who are just cruel to you, I think this is going to be very difficult, or have you bullied in the workplace or something like that. But if it’s just you don’t enjoy the work that you do, you can actually learn to love it. And I’m trying to think. There’s this book that I read. Oh Man. So good. Uh, I got to come back to that because I forgot it. So I’ll let ben talk for a bit while I get the cogs turning.

Yeah, I mean learning to love it. Even when I was talking about before in terms of changing the job, like going down this path of focusing on skill sets that you’re building can make work more interesting. So if you, if you’re burnt out in your job, if you’re bored with your job, there’s always another set of skills. Like my brother in my business came to me the other day and he said he feels like there’s a bit of a skill gap between both of us business wise and he wants to feel the and so now he’s involved in all meetings with referral partners. He’s involved with all of the key decision making stuff strategically in the business. All of a sudden he’s getting all this extra knowledge, expertise and skills is building a broad tool set now that I’ve built when I was his age and that’s going to enable him to go a lot further down the line. I think it’s a really nice way of looking at it. It’s not just the same dredgery you can ask for change or you can create change.

Yeah, and so the book I have remembered it. It’s called flow. I can’t remember the author because he has a very difficult name. I want to read it. It’s a sign. It’s a psychology book, but it talks about applying yourself to things to find enjoyment out of things and the concept with flow can even be applied to something as simple as brushing your teeth and he talks about this in the book, but basically focusing on what you’re doing in your job, what little aspect of it can you do better and can you try to improve, and so it’s like being diligent in that and finding a challenge within your job that you can improve yourself and you can become better and this book talks about people who worked on factory assembly lines and you’ve got most people hate their job and then you’ve got this one guy who absolutely loves it and he’s getting into flow state in his work because he’s constantly challenging himself and trying to learn new things and pushing himself. So even in the most mundane roles you can find enjoyment in your work. I do admit this is harder. It takes a lot of internal focus and dedication to love a job that you traditionally hate, but it can’t be done.

Yeah, like I’ve found the jobs that I hate most, that obviously outside of the workplace pulling or they’re not getting on with your management team is jobs that are out out of alignment with my true value system and the more that you understand your cell phone, what makes you happy in life, the more that you can incorporate that in your working environment because if you’re, you know, I’ve got friends who work in Pharma that just cannot stand the concept of Pharma, like as a value system, they despise it stuck in there because they’ve invested so much time and it’s so lucrative to be a part of it. It’s hard for most people that finish you need to go in a hundred k within a couple of years. But in farming you can do it very easily. And so just to be clear, something up. Pharmacy, pharmaceutical farming, farming, farming looks like hard work that you know and it’s just this. I don’t know where I was going with that, sorry. I just thought people might be getting confused with the radiation there, but yeah, I loved it. I loved the farming industry. Like

obviously there’s aspects of it that aren’t that great, but when you use the drugs properly,

profile, yeah, abusing it now, definitely not a vibe. Ah, sorry. So what else? Something that there is like because they’ve got misalignment between how they believe and think outside of their day job and what they do inside it, they’re constantly twisted and caught it and for them

to learn to love it, they’ve had to acknowledge that or accept that there is a misalignment there, but that doesn’t mean they can’t, like you said, find joy by getting in that flow state and challenging themselves in different ways or not as attaching so much of their identity to that job. And the other thing you can do as well is to find a higher purpose in doing what you do. So rather than focusing on the particular job that you do or tasks that you do, focus on the impact that you have on people. So if you’re in sales, for example, dealing with customers, if you focus on how can I really make someone’s day and impart happiness into someone rather than thinking about what you need to sell or the fact that you hate your retail job, if you’re focused on the people that you interact with and having good conversations with those people and making their day good, then when you finish your job, you can reflect on your work as to, okay, how happy did I make people today and what impact did I have?

And that’s your higher purpose that you find in something as simple as like a clothing retail store. I love that. So they have five different things that you can do. If you hate your job. This is situation I don’t want anyone to be in. And so hopefully you can take some of these tips and apply them and get out of the job that you hate or learn to love it. So just to summarize, they were to acquire those foundational properties so you require them that will then go on to deliver financial freedom and that then gives you the security to switch jobs or to do what you need to do. A, you could go full time with property, you can start a side business that could eventually become full time. You could change your job or learn to love your job. Is there anything you would add to that? Now that’s beautiful. That’s nice. Yeah. So I think go ahead and check out this video that me and Ben did on how to start a side business or a side hustle. So we talked about a bunch of ideas in there and even when in depth into if we were to start a lawn mowing business, exactly what we do it. So check that out. Links will be in the description down below as well. And until next time, stay positive.

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