Success Engine: How To Escape The Rat Race

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Today At A Glance

  • Question: Do You Have An Escape Plan?
  • Deep Dive: How To Escape The Rat Race By Starting Your Own Business
  • What I’m Thinking About: Making The Most Of Your Time

reading time: 3 minutes


Do you have a plan for escaping the rat race?

Many hate the idea of working a 9-5 until retirement, but few know how to escape. If you want out, it all starts with a plan. Do you have one?

Luckily, there are many paths to freedom. I escaped the rate race by becoming an entrepreneur, and in this week’s deep dive, I’ll share seven tips that helped me build a successful business.

Deep Dive

If you like this week’s deep dive, my full-length video and article go even deeper.

How To Escape The Rat Race By Starting Your Own Business

Tip #1: Keep An Income

“Burning the boats” may sound exciting, but it’s not practical for most entrepreneurs. Quitting your job without a steady income can lead to financial struggles and hinder your business’s growth. Find a job that covers your expenses and gives you time to work on your business.

Tip #2: Make Entrepreneurship A Priority

Building a successful business requires hard work and dedication. Prioritize your business by making sacrifices, like giving up non-essential hobbies, and leveraging your available time. For example, you can listen to audiobooks during your commute.

Tip #3: Learn The Fundamental Skills

Successful entrepreneurs learn common skills like sales, marketing, copywriting, web development, and more. Invest in yourself and learn these fundamental entrepreneurial skills. They can be applied to any business and increase your chances of success.

Tip #4: Follow Interests and Adapt

Starting a business is an experimental journey. Instead of getting stuck on a rigid plan, follow your interests. Explore new ideas, learn from failures, and adapt along the way. Embrace the learning process and stay open to new opportunities. Get started and see where it takes you.

Tip #5: Focus On Solving Problems

Successful businesses provide solutions to people’s problems. Identify the problems you can solve and create products or services that address those needs. Aim for easy-to-use solutions to the most painful problems.

Tip #6: It’s OK To Reinvent The Wheel

You don’t always have to create a completely new product or concept. Instead of trying to reinvent the wheel, consider creating a product that people already understand. Focus on executing a proven idea effectively. Thousands of successful businesses have been built on everyday concepts.

Tip #7: Find Good Partners

Building a business is challenging, but having the right partners can make it easier. Look for partners who share your vision, have complementary strengths, and are committed to the venture. Choose people you get along with, handle conflicts maturely, and then legally formalize the partnership.

Want More?

Check out my full-length video and article on escaping the rat race.

What I’m Thinking About

Making Effective Use Of Your Time

I’ve been an entrepreneur for more than 15 years. As an entrepreneur, you wear multiple hats and juggle various responsibilities, from business development to marketing and operations. Therefore, time management and productivity become vital skills.

I frequently ask myself if I’m making the most effective use of my time. I’ve found going long periods without asking this question leads to wasted time.

I’ve also recently become a father, so being effective at work not only improves my business but also improves the relationship I have with my daughter.

This month I stopped doing many things at work that felt necessary but ultimately weren’t. For some reason, this was a hard decision to make. Why is it that deviating from a plan can feel wrong, even when all evidence suggests it’s no longer the best plan?

Thankfully, I appear to be on the right path. I’m less stressed, I have more time for my family, and I think this decision will lead to greater business success. I guess time will tell.

So, I’ll leave you with this. How can you make more effective use of your time? What feels necessary but isn’t?

DISCLAIMER: Please be aware that the information presented in this email is for educational purposes only and should not be considered as personalized financial advice. The creator of this email is not a licensed financial advisor and any decisions made based on this information are at your own risk. It’s important to consult with a qualified financial professional before making any financial decisions, as this information does not consider individual investment goals, risk preferences, or financial situations. Please remember that past performance does not guarantee future results, and all investments involve risk, including the potential loss of your initial investment.


Chris Thornham 80/20 Financial Planner
Take Control Of Your Finances

Reduce financial stress, reach financial freedom, and achieve financial goals like buying a home, paying off debt, and investing for retirement.

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