Forums: Discussions for entrepreneurs and small business.

I just quit my day job as i was really sick and tired of  it. I currently do not have any good business idea yet but i know eventually it will come.
My main question is that do you guys think it is a good idea to get a fulltime job while working on business idea?
I am lost...


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B.R, Tigon88 When you look long into an abyss, the abyss also looks into you

It depends on your situation.  If you can support yourself on a part time income and then focus on the new business venture more that is great, if you need a full time income, then you do that first.  Falling behind on your bills now to get a business going in the future is not a  good business practice!

Tony

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Tony Sorensen Performance Detailing www.performance-detailing.com info@performance-detailing.com tojealca@gmail.com

Actually, i have a very capable and understanding wife that is supporting me at the moment.  In terms of bills, don`t think that is a problem yet.
We discussed and agreed that i will take 3 months time off to work on the new business venture. If by then, still nothing promising then, i would come up and work as freelance consultant for 3-6 months.

Only problem i am facing is that, i have been idling for 1 week(just quit my job). It is very tough for me day in day out without sense of purpose except going into deep thought and surf the net looking for new ideas.
This is when my confidence shook up and i try to rethink my position, is this a good approach at all?

Appreciate you guys can share your experience on those tough time that you encountered ealier in your start-up life.








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B.R, Tigon88 When you look long into an abyss, the abyss also looks into you

To be quite honest, I would suggest getting a job and then using your evenings and weekends to daydream and surf the net.  In the meantime, I would try to isolate what it is that motivates you internally and externally and try to find a business venture that does at least one if not both of those things. 

For example is technology motivating?  Social issues?  "The deal"?  AND do you need verbal affirmation in your job?  Do you need to make a lot of money to be motivated?  Zero in on these things to help you pinpoint your vision. 

It took me several years from dreaming to doing to get my business going.  I did alot of planning before I pulled a business license or had business cards printed. 

Best of luck!

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Kindra Beauprey Director Liberty Bell Spirit Squad www.libertybells.net

Tigon88 -

Now I`m not sick and tired of my job, but I`m not particularly thrilled with it either and I have no plans to be here forever.  On the other hand, not having this job would add quite a bit of undue stress and aggravation to my life (it sounds like your feeling this and it`s only been a week).  This would cloud my judgment and (more than likely) render wise decisions not so wise and potentially made in haste.

If you really can afford it, I would suggest you find a decent paying full/part-time job, this will give you some breathing room to focus on what kind of business really interests you.  There’s going to be enough stress once you make your decision and start moving forward with it, no reason to add a whole bunch of it before you need to!!!

Good luck and let us know what you decide!

R-



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Quaerite Primum Regnum

"There's a fine line between genius and insanity. I have erased this line."
~ Oscar Levant ~

Twitter: @rossb

I`m part time, but I make three times the money I made when I worked full time.  The greatest blessing of keeping my job and working on my business part time was that I trained myself to get a tremendous amount of work done in a very short period of time.

That being said, when they finally decided they no longer required my services-- there was no doubt in my mind that I would not be going to get another job.  At that time, I was NOT making nearly the money I thought I needed to quit.  However, I took the next three years and worked ON my business (not to be confused with working IN my business- I do NONE of the actual work, I`m the conductor of this orchestra) and when I needed money I worked odd jobs.  I have done everything from bartending to painting for $ because I always wanted to be careful not to take money from the business.

A business is like a baby.  You can`t expect it to feed you and wipe your behind until you`ve fed it and wiped its behind first.

So, right now-- it`s not about you. It`s about what`s best for the business.  Take care of it, it`ll take care of you and yours for generations.

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Paul Strauss
www.ChicagoSuperConference.com

Hi Tigon88:

If you don`t yet have a business idea it is unlikely to come to you at this point- especially since your starting to stress after one week of being out of work.  Since money is at least temporarily not a problem, get a job in a field you are interested in.  It will help you to be exposed to new people and new places and new things and that will help you come up with a new idea for a new business and you`ll still be able to contribute to the bills!

Hi tojealca, CheerDirector,rossb,WCRTPSS and MiteyMite:

Thanks for all your valuable input. Everything that you guys said is just painfully true. I took a moment to dissect myself and i found that main problem here is that i am stress because i am not focus.  Reason being, my mind and energy are still with the old job. The brutal fact is that my ego was hurt and i have not come to term with it. I talked to one of my friend that has a start-up and told him about my situation, he told me point-blank, if i think whatever i felt now is bad then the road ahead is just going to be hell. If i am not able to enjoy the challenge of uncertain future and surprises, then this is not the path for me! A kick in the teeth, makes me think real hard and i packed up my feelings and started to take some actions.
I then realise i do have good business idea, previously my mind is just too cloudy to make any sound judgement and i will need to remind myself in the future of this weakness of mine. Never let your emotion gets into your head!
I have decided to draft out my business plan and meanwhile spread the word out to my old contacts to see whether there is any opputurnity of working together.
Today, the director of another market unit called me up and asking me i am up for a new post which offers better pay, better corporate exposure. I told him no and thank you. Before we hung up, he said: Conviction is priceless. You sounded like you have it so i wish you all the best. Haha, suddenly, i felt so liberating. I know i am ready now. Thanks guys.




 

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B.R, Tigon88 When you look long into an abyss, the abyss also looks into you

In defense of the OP-- Walt Disney was nearly bankrupt after he failed to protect his intellectual property (Oswald Rabbit-- recently purchased after all these years by Disney) and he was fired by the studio he worked for.

He came up with "Mortimer Mouse" on a train trip across country.  He, and the rest of us can thank (or blame, depending on your perspective) his wife for re-naming it "Mickey Mouse".

Basically, he chose to take a sabbatical instead of getting a job-- and I think we all know how that turned out.  Sometimes all you need is the appropriate time away to recharge the batteries, and quit worrying about things for inspiration to strike.

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Paul Strauss
www.ChicagoSuperConference.com

Be careful to watch out for any conflict of interest if you are working down this path. For instance I work in the industry that I am planning on starting my business in. I can`t exactly just fire up the LLC, start marketing and getting customers. I will have to quit my job first. If you go with this plan watch out for any paperwork you might sign with the company especially if they are directly in the same industry you will be starting the business in.