Hi, I also got fired from my consulting firm after being on the bench for too long. Your story really resonated with me helped me heal and process my experience too. I love how you are bouncing back from this experience and come out as stronger!
ikr i got laid off at june, ever since then. I implemented a detailed budgeting strategy, tracking every expense and setting clear spending limits across all categories. In just six months, I saved over $60,000, giving me a strong sense of financial security and the ability to invest in my future. This approach has transformed the way I manage money, and I now feel more confident than ever about achieving my long-term goals.
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
"9-5 is a complete waste of time!" ... not if your working a job you really like. A 9 to 5 gives you a free evening, constant pay checks, mostly an organised environment where your tools are given to you and collogues as well. A business by your own doesn't give you that. You work more, don't have a fix time to go home, no paid leave, no tools, no IT, no social environment. Everything depends on your own. What many people forget: even a 9to5 is a choice. And you can always change that decision, change the company, change the enviroment.
'On the bench' is the term consulting firms use to mean s.o. not generating billable hours at a client. The expression is taken from team sports. The team members not on the court at the moment are said to be 'On the bench', they are waiting to be switched on to the court by the coach.
Count yourself lucky you got out of there fast! After acquiring an MBA and Major finance, i was a Senior Accountant and financial controller in a large company in Germany. I left Germany for Switzerland to a large bank there because of the high salaries. Only to find myself at the lowest of the lowest ranks. At first i thought it was because it was because i was a "Quereinsteiger". ( Change of career fields ) realized i was fooled. I wish i had done my due dilligence about that Institution before i joined. 😮
Thank you for sharing your story! If I may share a piece of advice with you about your videos, I'd add what is called "video chapters", it allows to break up your video into sections, and you can put titles in them. This is specially useful for long videos like this one, although I was enjoying hearing your story I got kinda tired at the beginning when you were sharing about how you've felt burned out, went on vacations and so forth, because I've felt that I already understood how you felt and found it a bit repetitive (it doesn't mean it is, it's just how I feel right now about it). I unconsciously checked for chapters so I could jump to a further subject because I believed that I already understood how you felt at that time, and I was interested in how you proceed from feeling that way, but found that the video didn't have them. My next impulse was to just go do something else, but something told me you had more interesting things to share, so instead, I came to write this comment. I can bet there are other people who felt the same, so I encourage you to start using video chapters, they look something like this: 0:00 - Introduction 1:30 - How I felt after getting fired 3:45 - What I used to get out of the burnous 5:00 - Conclusion Now, I'm gonna continue watching your video because it looks interesting but I hope you take my advice : ) Thanks again! I'm also split between starting a business or getting back into a 9 to 5, wish you all the best with your business!
Small business and solopreneur customers are hard because of their small budgets. For my new business (that I'm starting these days in Romania, because it is so much more entrenpreneur-friendly than Germany) I spend a lot of time thinking about how to design products that match customers of different sizes and my conclusion is, that for small businesses and in particular solopreneurs, only very automated products will work financially. Therefore the plan is to grow into this segment with low priced, automated products and, as these customers grow, upsell products with higher prices. Your idea of business model strategy consulting is ambitious. I see this as a possible path for my company too, but we'll move up the ladder from fixing operative IT problems in companies up to establishing a proper IT strategy and maybe finally supporting the business strategy process as a whole.
You're not wrong! I'm still considering different options because I agree that it's not a great segment in terms of spending budget, so it's smart to not only target solopreneurs. I might dive into the struggle of figuring out the right target customer in a future video 😅
Good luck, Anna! We are like-minded. I am studying mechanical engineering while also managing my business. It's all about taking risks. Looking forward to booking a session with you!
I feel like we go through the same experiences. Since I watched your first youtube video, 4 months, I quite my job to "Focus on passing my postgraduate modules". It wasnt the case, A term of ridiculous events this year has encouraged me to MIND MY OWN BUSINESS. I was working so hard and taking so much responsibility in convincing a client to sign off on our HVAC units for rail. Point is I was working so hard as if It was my company. I believe god allowed for the situation to convince me to resign and Persue the AI industry. 4 months down the line, Not as easy as the one we trusted made it look. Anyways.
You have an engineering degree and you could get a job with a stable company like some energy company like utilities, big oil, railroads, etc. Companies that are well run, profitable, growing with benefits, low turnover. Live way below means, max saving in low cost index. Roth. Most important, if you have a great relationship with your BF, stay together, have kids. Spend time with kids. Over time you will figure a way to start own biz, rental properties, etc. Time is tge only currency that matters.
You would want access into top management, I recommend doing an MBA in business administration or similar. (which I plan to do when a bursary is available). That allows you in these strategic spaces. And just to share with you. I would like to get involved in Merger and acquisition(Short course). I think you would enjoy it and add value with the rigorous experience you have gained this far. Maybe in 10 years you could open up your own holding company : ). Buying businesses, optimizing, increasing its value, sell or keep. : )
How do you even get in “merger and acquisition”? Firstly how many times does it even happ? Secondly does it even happ enough times for there to even be an industry? Thirdly how many times can it happ before every market is a monopoly cuz they all merged and how has that not happ already?
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
@alexandraruoff3775 Why not? Some of us can afford to spread love at least one day a week. Unless your job is like you gave it for free once. And now everybody knows and your thing lost all value on your side. People may not pay for reminders. But only to know.
@@theannareich I think it depends on the partner you choose. If you could attempt Multi Level Marketing for six months and if it doesn't work the absolute maximum you could lose is 450€ would you be open to changing your mind?
@@martinfairclough5514It is consistently shown in the income disclosure statements of MLM companies that upwards of 90 % of people don't even make that initial investment back. And even if you do, your business can be closed down or changed within a blink on a whim by someone else. It's much smarter and safer to start a business that truly belongs to you. Just look at what recently happened to bodi (and plenty of others).
@@rabeascholz1390 Failing is almost impossible with the right patner (company) and the right mindset. Finding the right partner means, do some research. Mine is established in 1936...I´d say that´s quite a history isn´t it.
@@christiangoldstrass6095 I agree, in every branch there are good actors and bad ones, consultants and even banks are not immune. Important, is finding the right partner with the right products and most important of all you can drop out immediately.
Sounds like a big woke liberal company , I'm glad I'm a tech teacher, nobody bothers me accept my students and nobody can do my job LOL! Good look in your new business, that is the way to go!
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
won't call being fired from Mckinsey a failure to be honest.... passing all the interview rounds is already a massive accomplishment
Totally agree. It is just a job ❤
Great work! Beware giving free services. If you don't place a hugh value on your service, no one else will.
Hi, I also got fired from my consulting firm after being on the bench for too long. Your story really resonated with me helped me heal and process my experience too. I love how you are bouncing back from this experience and come out as stronger!
9-5 is a complete waste of time!
ikr i got laid off at june, ever since then. I implemented a detailed budgeting strategy, tracking every expense and setting clear spending limits across all categories. In just six months, I saved over $60,000, giving me a strong sense of financial security and the ability to invest in my future. This approach has transformed the way I manage money, and I now feel more confident than ever about achieving my long-term goals.
So done with 9-5, its Depressing! How did you manage to save up so much so quickly?
Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.
Got it! Thanks for the tip! I was curious, so I looked up Lorrie
"9-5 is a complete waste of time!" ... not if your working a job you really like.
A 9 to 5 gives you a free evening, constant pay checks, mostly an organised environment where your tools are given to you and collogues as well.
A business by your own doesn't give you that. You work more, don't have a fix time to go home, no paid leave, no tools, no IT, no social environment.
Everything depends on your own.
What many people forget: even a 9to5 is a choice. And you can always change that decision, change the company, change the enviroment.
'On the bench' is the term consulting firms use to mean s.o. not generating billable hours at a client. The expression is taken from team sports. The team members not on the court at the moment are said to be 'On the bench', they are waiting to be switched on to the court by the coach.
Count yourself lucky you got out of there fast! After acquiring an MBA and Major finance, i was a Senior Accountant and financial controller in a large company in Germany. I left Germany for Switzerland to a large bank there because of the high salaries. Only to find myself at the lowest of the lowest ranks. At first i thought it was because it was because i was a "Quereinsteiger". ( Change of career fields ) realized i was fooled. I wish i had done my due dilligence about that Institution before i joined. 😮
You got this!!! I know you do! You can do anything you put your heart into!! I’ll be rooting for you!
I appreciate it! :)
many more things to life, I am now doing differently also started a youtube channel and starting a business 4 years ago!
Thank you for sharing your story!
If I may share a piece of advice with you about your videos, I'd add what is called "video chapters", it allows to break up your video into sections, and you can put titles in them.
This is specially useful for long videos like this one, although I was enjoying hearing your story I got kinda tired at the beginning when you were sharing about how you've felt burned out, went on vacations and so forth, because I've felt that I already understood how you felt and found it a bit repetitive (it doesn't mean it is, it's just how I feel right now about it).
I unconsciously checked for chapters so I could jump to a further subject because I believed that I already understood how you felt at that time, and I was interested in how you proceed from feeling that way, but found that the video didn't have them. My next impulse was to just go do something else, but something told me you had more interesting things to share, so instead, I came to write this comment. I can bet there are other people who felt the same, so I encourage you to start using video chapters, they look something like this:
0:00 - Introduction
1:30 - How I felt after getting fired
3:45 - What I used to get out of the burnous
5:00 - Conclusion
Now, I'm gonna continue watching your video because it looks interesting but I hope you take my advice : )
Thanks again! I'm also split between starting a business or getting back into a 9 to 5, wish you all the best with your business!
Go Anna!!! Your journey is inspiring!
Small business and solopreneur customers are hard because of their small budgets. For my new business (that I'm starting these days in Romania, because it is so much more entrenpreneur-friendly than Germany) I spend a lot of time thinking about how to design products that match customers of different sizes and my conclusion is, that for small businesses and in particular solopreneurs, only very automated products will work financially. Therefore the plan is to grow into this segment with low priced, automated products and, as these customers grow, upsell products with higher prices.
Your idea of business model strategy consulting is ambitious. I see this as a possible path for my company too, but we'll move up the ladder from fixing operative IT problems in companies up to establishing a proper IT strategy and maybe finally supporting the business strategy process as a whole.
You're not wrong! I'm still considering different options because I agree that it's not a great segment in terms of spending budget, so it's smart to not only target solopreneurs. I might dive into the struggle of figuring out the right target customer in a future video 😅
@@theannareich, looking forward to learn from and reflect about your process.
So whats the new business?
Terrific channel Anna! Thanks! I know quite a bit about McKinsey. It’s a good place to be done with! Best of luck!
Good luck, Anna! We are like-minded. I am studying mechanical engineering while also managing my business. It's all about taking risks. Looking forward to booking a session with you!
Thank you! :)
What kind of business?
I feel like we go through the same experiences. Since I watched your first youtube video, 4 months, I quite my job to "Focus on passing my postgraduate modules". It wasnt the case, A term of ridiculous events this year has encouraged me to MIND MY OWN BUSINESS. I was working so hard and taking so much responsibility in convincing a client to sign off on our HVAC units for rail. Point is I was working so hard as if It was my company. I believe god allowed for the situation to convince me to resign and Persue the AI industry. 4 months down the line, Not as easy as the one we trusted made it look. Anyways.
du schaffst das! :)
Good luck! I'll be following along in your journey, I know you can do it
Thank you :)
Thank you for the Video.
This is very inspiring for myself (a Mechatronics Student).
But I do strongly hope that you succeed.
Thanks! Glad you liked it!
Good luck. I subscribed and really want to follow on your journey.
Awesome! Thank you!
You have an engineering degree and you could get a job with a stable company like some energy company like utilities, big oil, railroads, etc. Companies that are well run, profitable, growing with benefits, low turnover. Live way below means, max saving in low cost index. Roth. Most important, if you have a great relationship with your BF, stay together, have kids. Spend time with kids. Over time you will figure a way to start own biz, rental properties, etc. Time is tge only currency that matters.
You would want access into top management, I recommend doing an MBA in business administration or similar. (which I plan to do when a bursary is available). That allows you in these strategic spaces. And just to share with you. I would like to get involved in Merger and acquisition(Short course). I think you would enjoy it and add value with the rigorous experience you have gained this far. Maybe in 10 years you could open up your own holding company : ). Buying businesses, optimizing, increasing its value, sell or keep. : )
How do you even get in “merger and acquisition”? Firstly how many times does it even happ? Secondly does it even happ enough times for there to even be an industry? Thirdly how many times can it happ before every market is a monopoly cuz they all merged and how has that not happ already?
Wish you all the best!
Thank you!!
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Evelyn Infurna Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Would you like to advise me? And if I raise more capital than normal I'll pay you. I would love a free advice session like your friends got.
Why should she give you a FREE advice session?
@alexandraruoff3775 Why not? Some of us can afford to spread love at least one day a week.
Unless your job is like you gave it for free once. And now everybody knows and your thing lost all value on your side.
People may not pay for reminders. But only to know.
Good luck🤍
Thanks!!
Boyfriend? 💔
Have you considered Multi Level Marketing, even as only a way of supporting yourself as you set up?
If I wanted to lose money, I might. But no thanks 😉
@@theannareich I think it depends on the partner you choose. If you could attempt Multi Level Marketing for six months and if it doesn't work the absolute maximum you could lose is 450€ would you be open to changing your mind?
@@martinfairclough5514It is consistently shown in the income disclosure statements of MLM companies that upwards of 90 % of people don't even make that initial investment back. And even if you do, your business can be closed down or changed within a blink on a whim by someone else. It's much smarter and safer to start a business that truly belongs to you. Just look at what recently happened to bodi (and plenty of others).
@@rabeascholz1390 Failing is almost impossible with the right patner (company) and the right mindset. Finding the right partner means, do some research. Mine is established in 1936...I´d say that´s quite a history isn´t it.
@@christiangoldstrass6095 I agree, in every branch there are good actors and bad ones, consultants and even banks are not immune. Important, is finding the right partner with the right products and most important of all you can drop out immediately.
You’re in serious danger of wasting your life. Get married and have kids.
Troll.
No respect or trust for McKinsey.
Sounds like a big woke liberal company , I'm glad I'm a tech teacher, nobody bothers me accept my students and nobody can do my job LOL! Good look in your new business, that is the way to go!