When to quit

Email:May 30 2023
A few years back I ran into the biggest Wabu Grill franchise holder in Southern CA.

(Wabu Grill is ‘thing’ in SoCal where it’s “fast Asian” bowls)

This was when I was a pipeline foreman (crew leader) for a natural gas utility company.

We ended up talking about his success.

And how he was a poor immigrant from India who wanted to make it in the US.

Yup, this is another “rags to riches immigrant story” but here’s the actual detail about it(and a lesson on sticking it out)

He loved food, so he decided to get into the restaurant biz; Applying for a new restaurant franchise.

He was young, poor, had no idea what he was doing, and had no experience.  

In fact, he had to bullshit his way through the franchisee interview with corporate because they only wanted people with managerial experience — he had none.

Then his uncle gave him this tidbit of advice when he was poor, struggling, and not sure if he would make it in bizness:

“Give it 1000 days… then consider quitting”  

For you, this so much isn’t a lesson on “sticking it out” (you’re most likely been sticking it ouf for a while and don’t need advice on that)

Instead…

This is advice on what projects you should actually commit to.  

Before committing, ask yourself:

“Is this something I want to do for 5+ years?”  

This is a big reason why I closed the doors on my volume land flipping operation (and sold the URL).

I was thick in the weeds. I needed more funding to keep up. I calculated about 4 years until I reach real “passive (walk away) income”.

Then my partner left, and I was facing a hard truth:

I’m in this business for another 3+ years, in the weeds, and I hate almost every minute of it — I hated the product (it’s deceptive to sell raw land that’s almost entirely unbuildable to a market that thinks it is), I hated chasing buyers (even though I was doing well with email marketing, I still had to fill that pipeline), I hated that the notes ended in 3 years, I hated that a good portion of the buyers defaulted.

Not saying that land is not a good business…

Just not for me.

If you’re going to have active income (in the form of creating a business where you’re “In It” for a long duration of time)… might as well enjoy at least some part of it.

– Paul

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