4: Would you do it?

5: Probably.

5: I'm here to say

8: Back in the day, people used to work

10: at one place most of their careers.

11: There was honor in being a company man.

13: Job-hopping was frowned upon.

14: A resume filled with short term job positions was equivalent

17: to someone saying "all my exes are crazy."

19: A major red flag.

23: it's estimated that most workers will have

25: twelve jobs over the course of their lives.

27: This is partly due to the

28: pandemic making everyone question everything.

30: - Are we truly happy with our career?

32: Or is there another opportunity out there

34: that's better suited to us and that

36: would make us feel more fulfilled?

38: - Luckily for folks like her, job hopping

39: hasn't just become more common, it's actually

41: starting to look like a wise move.

43: This is the concept of strategically quitting.

46: Funny story, I thought I made

47: up that phrase, strategic quitting.

49: I was like, this is the perfect phrase,

51: the perfect tagline for this video.

54: There we go.

54: But then I searched it to make

56: sure that this hasn't been used before.

58: I wasn't even close.

59: In fact, it's way worse than that.

60: Turns out I read a book in 2019

62: that uses this phrase repeatedly.

64: My brain just decided to go with it

66: and convince me that I invented this term.

68: I feel betrayed.

69: So I would like to let everyone know,

72: including myself apparently, that I did

74: not invent the phrase "strategic quitting".

75: But what it means is using some simple tactics for

78: making the most out of your career and your earnings.

81: This concept of strategic quitting is broader

83: than just people quitting their jobs.

85: But the advice certainly applies to careers.

87: And it's advice people are taking.

88: If you look at the numbers,

89: people are switching jobs in record numbers.

91: A survey from 2019, so pre-pandemic, revealed

95: that nearly half of the respondents had

97: made a big career shift, like from

98: marketing to engineering or teaching to finance.

101: And from those who hadn't,

102: 65% said they were considering it.

105: And this is before the pandemic hit.

106: Since then, those statistics have just exploded.

109: The numbers now say only 14% of Americans feel like they

112: have a great job and aren't looking to change it.

115: Well, around 70% are actively looking for

118: a new gig as we speak.

120: All that is to say, if you're thinking

122: about changing jobs or switching to a new field,

124: you are definitely not alone.

126: And you might be onto something here.

127: But here's the thing.

128: Even if you're not thinking about quitting, it might

131: be a good idea to start considering it.

133: You know that old saying,

134: "Winners never quit and quitters never win"?

136: It turns out it's total bulls**t.

138: Winners quit all the time.

139: It's part of the reason why they're winners.

141: - Winners quit the right stuff at the right time.

144: - The difference between when a winner quits

147: and a quitter quits is one is strategic and one is reactionary.

152: Basically, the whole idea around strategic quitting is

155: that in order to meet your fullest potential,

157: you have to constantly let go of things

158: that are holding you back.

160: Stuff that's a dead end.

161: A job, a relationship, a specific project.

163: If it's not going anywhere, if you can feel it

165: draining your resources and your spirit, quit that *** right now.

169: Quit it.

170: - Hey, listen, I quit.

171: - Going back to that book that my brain stole from, "the dip".

174: Seth Godin writes that,

187: But hold on, because

190: The opposite of strategic quitting

192: is reactive quitting. It's a trap.

194: One that a lot of us fall for.

196: It's quitting as a knee-jerk reaction to

197: something that's hard or makes you angry.

199: It's not premeditated, it's not beneficial.

202: And then there's coping.

203: Think about something that you've attempted

205: that wasn't quite working out.

206: Maybe a new side hustle or creative project or friends.

209: Something that you kept putting effort into and you just

211: couldn't bring yourself to move on from that, even though

214: it's draining you of all your life and happiness.

217: That feeling just kind of trudging through, that's coping, and

221: all it does is waste your time and energy.

224: A key element of coping is that

226: you're convincing yourself that incremental little improvements

229: make the grind worth it.

231: As Godin writes,

238: Really, all of this is about opportunity costs.

241: By pursuing one option, you're always

243: by necessity, foregoing something else.

246: And the sad fact is that we're not always

248: so great about weighing these kinds of options.

250: Our brain that often tells us the

253: wrong choice is the best one.

255: One of my biggest enemies personally

257: is the sunk cost fallacy.

259: Basically, if you've spent a ton of money or time

261: on something, you think you should just keep doing it

263: because, hey, look at everything I've spent on this.

265: That's why the goal should always be to realize when

268: your current path isn't working out, cutting your losses and

271: then spending that time and energy somewhere else.

274: I have the perfect trick for this

275: that I will explain in a minute.

277: Because first we need to

278: redefine this whole quitting thing.

280: Experts in labor and psychology are gravitating

283: towards the idea that we should redefine

285: career as working a shorter time

286: (think 7 to 12 years) in a given industry,

289: and then moving on to something else.

290: Now, there are some obvious

291: benefits to this, like money.

293: Some workers increase their salary by 80% simply

296: by switching over to a new company.

298: That's insane to me.

299: Just money sitting there, ready to grab.

301: But others aren't so obvious.

303: By leaving before things start to get stale,

305: you're keeping yourself from getting complacent or bored.

308: You're helping ensure you're always doing something you love,

310: or at least something you like.

312: You're also creating a new and ideally better version

314: of yourself with each and every job iteration.

316: And one way to do this is

318: by diversifying, having a secondary career alongside

321: your main one to test the waters.

323: And then maybe at some point down the line,

324: it could take over your primary gig.

326: I recently advocated for this for my friend Dan.

329: Maybe you recognize him from a few of my videos.

336: I offered him a job a few months back,

338: but told him to keep his current job to

339: make sure he likes this new one.

341: So we did both for a few months before

343: officially telling me, hey, you're the worst boss I

345: ever had, and I hate this new job. I'm kidding.

347: He quit his old job and now went full time.

349: And he makes more money and gets to

351: work like this from home every day.

352: Now, real quick, let me tell you about

353: my membership group Finova, there you get access

355: to additional videos, winning trade signals, and live

357: coaching calls every single day,

359: the type of content you can't get anywhere else.

361: Basically, it's like my OnlyFans.

362: But it's not an OnlyFans.

364: I cannot stress this enough.

366: So when we say spread, we're talking about the

368: difference between a stock's bid and asking price.

370: And when we say loads, we're talking

372: about the sales charges on mutual funds.

374: And when we say bear and bull,

375: we're talking about the markets.

377: And when we say top-down bottom-up approach,

379: we're talking about...

380: who came up with these terms?

382: Join Finova, linked down below.

383: Get seven days free.

384: Basically, you can look at having multiple careers in 2 ways,

387: as an unfortunate reality, or

389: an opportunity to explore what matters to you

392: and expand the possibilities of your life.

393: And let's not forget about the money,

395: because the numbers here look pretty enticing.

397: But workers who stay at a company can typically expect a

400: raise of about 1.3% to 4.5% each year.

403: Leaving your company for a new job in the same field

406: can mean a pay increase of 20% to 50%.

409: Those are typical numbers.

410: That means the average worker could instantly

412: make $10,000 to $30,000 more each year.

416: And this goes for business owners, too.

418: I've owned businesses my whole life, and what

420: I've done is constantly keep my eye out

422: for the next 10X opportunity.

424: I had a pool cleaning company.

425: Then I had a moving company.

427: And then I started exploring media.

429: I'm going to try to learn how to spin a pen

435: On each and every switch, I kept my current gig, at least until

438: I confirmed I could make ten times more

440: money than the one I was giving up.

442: And not everything works, within this progression

445: is probably a dozen or so things

446: I tried and realized wouldn't work.

447: So I quit and then moved on to something else.

450: Also, my tip from earlier to

452: battle the sunk costs fallacy,

453: What I do is ask myself,

462: If the answer is no, it's time to get out immediately.

466: Now, if you're digging this idea and ready to start

468: making some moves,

471: First, if you're moving into a

472: different field, don't be deterred by what you don't know.

475: Here's a hint, no one knows what they're doing at first.

478: This might be a frowned upon story, but

480: I had that pool cleaning business, right?

482: Well, the very first time I ever cleaned a pool period

485: was for a client who was paying me to do so.

488: I was literally there at their pool looking

490: at notes and bookmarks about what to do. And guess what?

493: I ended up building that business and

495: selling it for over six figures, like

497: three years after that very first job.

500: Plus, check this out.

501: A survey of recruiters found that about 70% of

503: employers are willing to train the right candidate.

507: You don't need to know everything.

508: And if you're not sure exactly what kind of career

510: you should go for, it's worth checking out the fastest

513: growing occupation, stuff that's in high demand because it's going

516: to be easier to get a job.

517: It's also worth aiming towards a field or

519: organization that aligns with your core values, the

522: kind of stuff that you really care about.

524: Research shows that the top predictor of

526: career satisfaction isn't paid, but the culture

529: and values of that organization.

532: Then, when you're actually in the process of

534: going after that new gig, especially if it's

536: in a new field, focus on transferable skills

539: for your resume and for interviews.

541: Think stuff like customer service, problem solving,

544: collaboration and communication, and have some examples

547: of those skills ready to go.

549: Anecdotes or specific examples of

551: those skills in action.

552: Maybe the time you set your workplace on fire in

554: order to make sure everyone knows the proper procedures.

556: Okay, that's an episode of The Office.

565: Another thing, don't be afraid of learning new skills.

568: It might seem daunting, but going back to

570: school, getting a certification, or otherwise investing in

572: your own education can really pay off here.

575: Skills seriously do pay the bills.

577: I like the quote from Alvin Toffler, who said,

587: Now, lastly, don't feel like you need

589: to do this all at once.

591: The average worker takes almost a full year to

593: consider their options before making a career change.

596: Researchers say the worst time to quit is when

598: you're actively feeling the most difficulty from your job.

602: So if you're able to take the time

605: to prepare, plot out your options, and try

607: to test the new gig before quitting the current.

614: It's become kind of cliche, but the truth

616: really is that a lot of people don't

618: find success until later in life.

620: Vera Wang, Henry Ford, and Julia Child are

622: just some of the incredibly successful people who

625: tried out multiple jobs before landing on the

627: one where they really, really hit it big.

629: But I don't want to make this all sound

631: like it's a walk in the park.

633: - Strategic quitting is a very dangerous idea when thoughtlessly applied.

637: - Quitting is hard and extremely scary and

640: sometimes objectively, not the right move.

643: So don't do anything rash.

644: Carefully consider your situation before making any

646: moves and run the numbers on how

648: much financial insecurity you can handle,

650: if things don't pan out.

651: - I would like you to crunch those numbers again.

653: - But at the same time, remember

655: that there's also a massive cost in playing it safe.

659: Michelangelo says,

667: Pretty quotes aside, the numbers don't lie.

669: Almost 90% of people who switch careers

671: say they're happier after making the move.

674: So do your your homework.

675: Think deeply about what you actually want,

678: dip a toe into a new path, and by the time

680: you've done it, quitting won't feel like a leap

682: of faith, but the logical next step.