Quitting my job was a big mistake

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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.

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[VincentChan]

*Do you wish finance news wasn't so boring and hard?*
*Want to cashflow $100, 000 in 12 months?*

[edithgarcia]

No matter how much I suffer after quitting my job, I will never suffer more than having worked from the job I quit.

[macro-fied]

I went from being an entrepreneur with 6 figure income to an employee. I can honestly say, being an employee is not that bad since i do get to "slack" at times and still get paid since I'm efficient at my work. Definitely not the same for self-owned business. I think a balance between the 2 is the sweet spot for me.

[sha]

This is really important for young people to hear. When you HAVE to make money doing what you love, you can easily start to hate what you love. I actually really love my job working for someone else for money. They pay me well and they make tons more money for much more risk than i want to take on in my daily life. I'm very relaxed, make good money, and have a relatively stress free life, and still have time to do ridiculous stuff I love like watch and listen to Kpop MVs while I work. As you age, some may find it just less stressful to NOT hussle. this whole hussle culture bit is a scam. I'm not hussling for nothing and Im living my best life.

[LangersTube]

This was a really interesting perspective! I’m 31 and have always been a self employed musician… until covid kicked off. I worked part time in a brewery at the time, and was faced with two choices - either continue down the self employment route and claim income support grants etc from HMRC, or go full time at my job in the brewery. I decided, well, I don’t want to spend all summer sat on my ass doing nothing - so I’d much rather be going in to work everyday instead. So I went full time at the brewery. That’s when something strange started to happen…

I began to realise, all the years I’d been working as a guitar player, it actually wasn’t making me happy. I LOVED not having to go out and do gigs anymore, spend countless hours alone driving all over the country, doing my own taxes, learning songs OTHER people wanted me to play… I actually loved having a 9-5 (well more like 8-6..), going into work, having a laugh with my workmates, getting the job done, and going home afterwards. In a way I noticed so much more freedom in my personal life and hobbies, because I had the passion to pursue them again. When I worked as a musician, it was all about doing the work I was being paid to do - doing things other people wanted me to do, and that killed my passion for music and completely negated the reason for why I got into music in the first place. Which was that I loved music!

Now it’s a couple of years later, I’ve found that I really love my job and I’m afforded so many freedoms. I heard a term on a podcast called “job sculpting”, which is where people in seemingly menial jobs create their own systems in their work to make it relevant and impactful. My boss is great - as long as I get the work done that needs to be done, he couldn’t care less if I’m 15 minutes late, or want to take a day working at home, or leave work for a minute for a walk to think. He just leaves me to it, and that freedom is amazing.

I had a thought one day that since our company underwent a slight rebrand, that our logo didn’t match the new branding - so I thought maybe we should change it. I brought it up in a chat one day, and after a talk it seemed like everyone agreed, and guess what - my boss went out and changed our logo to something we thought worked better! It’s still my greatest work achievement in my mind, the fact that I’m listened to, respected, and people value my input and opinion to the point where I could literally influence changing the logo for an entire company is amazing to me.

That’s what makes work meaningful, and fun, and just worth doing basically. We’re a small company, and that feeing of us against the world feels great. Like we’re making a difference.

All this is to say, passions don’t go anywhere if you’re not doing them as your day job. There’s nothing wrong with a “normal job”, and there’s so much value in jobs if you’re open minded. I worry nowadays about younger kids coming watching all this content like “rise and grind”, “get a side hustle”, “work for yourself”… of course that’s not bad but it’s not for everyone. The reality of working for yourself is you’re also giving up (potentially) a large part of what makes life worth living; other people. Relationships, sociability, being around people with different opinions than your own, and of different sexualities, genders, and ethnicities. Forging relationships with people is what it’s all about, not sitting in a room alone looking at how your stocks and shares are performing.

In a way I think I had to do both to realise, just as you’re saying here Vincent. You see the good stuff online about being an entrepreneur, but not the bad stuff, and meanwhile a “typical 9 to 5” gets stigmatised as though you’ve failed at life. Bullsh*t!

It’s cool to see someone actually reflecting and growing, it’s all a journey isn’t it.

I don’t remember what my point was, but this is my two cents if anyone cares 😂

[KoiAcademy]

I realized that in entrepreneurship, your product is not your videos or some online course you’re trying to sell. Your product is you. I try to keep learning and growing and investing in myself because the skills and the story are priceless. Love the evolution of your expression and personal style. Keep going!

[sethdouglas]

I didn't quit, I gave it all I had and they fired me. Feels good though because my 5yo daughter started school this year and I get up with her every morning and spend every day with her. I also am doing college full time now and am getting back a tiny piece of all the damn taxes I have paid in as unemployment. I am at peace for today.

[RachelSmets]

The BEST thing you said is right at the end: YOU HAVE TO LIVE THROUGH IT!
I quit my corporate like you and am an introvert too and just like you,
Youtube is what I've learned to get better at and YES, leaving the job and the money is scary, but you have to LIVE through it, I love that so much because it's what I want people to understand: there IS a WAY out of the rut, but you have to take actions, take certain steps and face certain fears.
The beauty result!!!!

[OrgodemirDQ]

I own two successful businesses, and I recently went through the same exact thing. There are days where I wonder if I made the biggest mistake of my life not going to law school after I crushed the LSAT. But then I had a moment where I wanted to spend time with my new wife. We were exhausted, run down from our businesses, and... we made ourself relax in the middle of the afternoon on a weekday. We didn't have to ask permission, we just did it. As I looked around that day at people with their heads down working, I realized what the sacrifices were really about.

We look at things differently. We plan and look forward based on ambition, not quotas and box checking. We were, truly, masters of our own destiny. And most importantly, it felt like we were.

You'll feel like this again. And it will pass again in the wake of your successes. Just remember: nobody on this earth can threaten your livlihood if you don't appease their corporate/company byline. If the unthinkable happens and you DID fail... you'll just innovate, adapt, and overcome. You said it yourself in one of your videos, if you focus on your failures, you ignore the massive volume of wins you've ever had.

It's all a race for financial independence and peace. Godspeed, and I'll see you at the finish line.

[nezzylearns]

I'm so glad you posted this. Honestly I was so jealous of everyone being able to quit. I was like well I wish I could knowing financially I'm not able to. But I'm glad you're doing well financially and thank you for being totally honest. People need honesty.

[Eminoseikatsu]

“Am I running away from something? Or running towards something?” - great question to ask oneself.
I myself wanted to quit my consulting job so bad a few years ago, but I didn’t because I knew that I was trying to run away from it. Now I am finding it fun, as I have younger new grads working for me(I found joy in teaching).
Now I want to go travel around the world in my last 20’s. But I know this time I am “running towards something, ” as I am going back to the current job after a year of sabbatical😌

[Theman]

Quit my job back in March. Definitely regret quitting without another job lined up. Had a financial cushion and was able to travel for a bit which I don’t regret doing. But it’s definitely more difficult finding another job. Didn’t realize how easy I had it although I was really burned out.

[XoloYT]

Even after watching this video I still think self-employment is for me. I'd personally much rather work 40-70 hours a week for myself rather then work 40-70 hours for someone else, commuting there and back, and making their dreams possible. You did mention something earlier which I disagree with when you said "I have to be my own boss and I can't afford to not work especially when I don't want to". Correct, but the same will apply when you have a job. You can't call out sick when you don't simply feel like it because you're scheduled or expected to show up 9-5 Monday through Friday. And if you do call out at a lot because maybe your going through a rough time or need a break from work then you'll risk losing your job as well. Where as if you are self employed and you simply don't work for one day the only thing it does is effect your pocket. Job security does exist in some fields but you should always be prepared to jump ship when your company lays you off because of "budget cuts". I think it ultimately comes down to wether or not you value your time/ freedom over security/ dependence. Personally I hate operating on an hourly wage because no more how productive I am, ultimately I'll still be paid almost the same as the guy who is lacking off (as you mentioned in the video). I also don't like being tied to schedule where I am forced to come in from 9-5. I'd much rather spring out of bed at 6am, get all my work done and out of the way as quickly as I can, and then have the rest of the day to myself (even if some days it can take me 4 hours to complete and some day it can take me 10), even if I only means I get one day off in the week.

[JoshRimer]

As someone who used to be a full-time YouTuber and now has a full-time job with YouTube on the side, I can say this is definitely a much more better way to live for me… but I don’t think people will really understand how hard it is to do YouTube full time until they go through it themselves.

[soniaperez]

This is the most honest video that I have seen on the subject. I have been self-employed for 15 years now and I can vouch 100% for what this YouTuber is saying. The hardest thing I have ever done is self-employment, and it is the loneliest too. Wgen we work for large corporations and have salaried positions with great benefits, it is a huge thing to leave all that to become self-employed. If you don't have a true-to-the-bone, bones Why, I would suggest you don't do it. Start with a strong, truthful Why, or continue to be an employee. Trust me on this. :-)

[jessicaclores]

This is just right in time for someone like me, Vincent. I had subscribed to your YouTube channel the time that I had started thinking of quitting my present job. Updated genuine videos of yours like this helps me weigh things out. Your content is like a step-by-step guide being applied for us to see the situations (may not specifically the sane as yours but somehow a real example) that we’ll face. Keep on creating contents like this! You are a living example. I pray you peace, success, and some free time off to replenish you.

[Alaska_Gal]

I quit my finance job 6 days ago. Worked there for over 8+ years & I was unhappy, stressed & beyond burned out. Everything always works out. I feel so liberated. 🙌🏼

[jjgems]

I’m a stay at home mom right now but I remember when I was working I would day dream and work on my business. Well, I started my “dream” business after I had my 2nd daughter and I quit my job and I started to absolutely HATED it. Their is something really nice about going to a steady job, having Saturday and Sunday off, not thinking about your job 24/7. Having health insurance lol all of those things. I’m still a stay at home mom but my business was even taking me away from that, both physically and mentally. It isn’t as easy or as fun as it looks. And I already knew it was going to be hard work and a sacrifice but I realized that that I wasn’t willing to sacrifice certain things. Now I simply focus on homeschooling and raising my children and I love it and I know I’ll never regret it. Yes it’s tough at time since we live on one income but it’s worth it in the end. I learned a lot about myself.

[EchoesFromAbove]

This is such a great video bro! I’ve been watching you for two years now and the progression of your channel has been pretty incredible. I appreciate this video so much. People don’t realize how good you have it having a job as opposed to being an entrepreneur. Being an entrepreneur you work way more hours and you run the entire ship alone. Really appreciate this video bro.

[CrownePrince]

Self-employment is hell and continues to be the hardest thing I've done. It's been seven years. At the moment I'm very happily working part time for a team and I'd easily switch to full time if it were an option. I think I'd bounce between working for a boss and working for an audience every 5 years given the choice. (You never really get to work for yourself. That's an illusion.)