Runway

When going out and doing a new thing, people often talk about ‘runway’. Usually this term refers to the number of months of funding that’s available while the new thing isn’t generating any revenue.

For example, if your living costs are $5k a month, and you have $20k available, you have 4 months of runway ($20 / $5k). You can afford to go 4 months without any income.

This is an important concept to be aware of. However, as with many things in life, there’s also the story.

Money talks, but the story around it can be even more persuasive.

The story keeps pulling you back to client gigs, even when the runway is there.

The story keeps you in the freelance game, instead of building something of your own.

The story makes the runway feel much shorter – or much longer – than it actually is.

Next time you’re thinking about runway, don’t forget the story you tell yourself.