For this week’s Founder’s Only I dug into Faheem’s podcast archives. Faheem is a member of Founder’s Only, and he and I were MBA friends over a decade ago. We both ran the campus entrepreneur society in different years and have been periodic business partners since graduation. Faheem assembled a great collection of stories from new company founders who have decided to leave 9 to 5 jobs to start a business. This collection is entitled “Radical Tribe”. I dug into this article of Kelly Newsome, a lawyer-turned Yoga instructor.
If you click through you’ll get a good summary of the article. After listening I had a few personal takeaways that reflect what I’m trying to work on in our own business, and for me personally. My insights bounce around the interview in an erratic order.
1. If you take the time to ask better questions, you’ll achieve better insights and will take better actions.
2. Taking the time to ask “the better questions” is nearly impossible. Nobody gives me any time to do that – during the working week I’m in a hurricane of problem solving.
Home time is catch-up and prep-time. Kelly discusses (at the 33 minute mark) her approach to “chunking time” to get sh*t done, and to blocking off time to plan the chunks of time. That concept resonates for me, and I tend to spend my morning commute planning my day.
3. Kelly also talks about switching off, and letting your brain rest. Members of Founder’s Only may have joined me for a Brain Break in past weeks, and that’s the closest I’ve come to this idea of switching off. We’ve also discussed meditation as a key to success in a previous blog using meditation, but that is something that I still struggle to do/never have done.
4. I also enjoyed the “gut instinct” approach on deciding pricing your product or service (at the 17 minute mark) described by Kelly.
This discussion on how to start by side-hustling and turning your-side hustle into your full time business will resonate with many of our Clausehound users who in many cases are just starting their own freelance projects that will bud into fantastic full time businesses. I was impressed with Kelly’s willingness to share her financial approach to budgeting and her actual financial numbers on her pathway to success.
Faheem Moosa is a member of Founder’s Only and is a management consultant at Springboarders & web show host at RadicalTribe.com. Faheem has helped develop successful business strategies for US, Canadian and Indian firms/organizations.