Forums: Discussions for entrepreneurs and small business.

I am currently looking towards starting my own business next year. I am currently employed by software development company but, I am tired of IT.

I have been having businesses since I was a kid and enjoy it very much! This business I want to start needs my fulltime attention and as such, I'll have to quit a pretty decent job and pay. I have never planned and strategised so much for a business before.

My question is this : When I tell people I am starting my own business, the first thing they ask is : "How are you going to pay your car?" or "You need to pay rent, how are you going to cope with that?" and it is questions like these that make me despondent and demotivated.

How do you cope with this?

First, good for you!! Going out on your own is a huge undertaking and it sounds like it may be just what you need.

We posted a blog quite recently on just this topic (Moral Support? Don't Count on It). Having already taken the plunge, we kept getting the "when are you going to look for a job?" question. Finally, my stock response became, "I already have a job -- with the best boss ever!" delivered with a smile.

Good luck to you!

Molly Donaldson

Hey there Cipher!

Congrats on your new business plans!

I was wondering if you have ever looked into an internet marketing business?  I have owned both traditional businesses and internet businesses, and hand-down, the internet has outperformed anything I have ever seen.

Plus, there is MUCH less headache, overhead, stress, debt, bills, pressure, etc...

And, I am able to effortlessly scale my businesses up to increase my income at anytime.

You should take a look at the website in my signature and see what exactly I'm talking about.

Wish you the best,

Stephen Clark

Start-up in your free time and when you start generating sustainable revenue leave your job and go full time with your new business.

Hi Cipher,

First of all, never let negative people get you down!  The people who say things like that to you are hoping that you will fail because it makes them feel better, just like a schoolyard bully.  You must learn to ignore people like that (even if they are close family or friends) otherwise you will lose your dream. Your finances are not their business.

Come up with a stock response, like Molly suggested, and repeat it every time someone asks you a ridiculous question like that.  It may also help you to find a local group of people who are starting out that you can meet with and talk to which will help keep you motivated.

Tracy

Do not get demotivated with these questions.  Treat these questions as a springboard to your business plans.  Questions like these can only come from well-meaning friends and family members.  Most of the time, these questions are not meant to discourage you from starting a business but rather to help you out in creating a business plan that will work for you and your needs.  If questions like these discourage you, imagine what you will feel when you experience the bumps of business life.  Continue to keep a positive attitude and you will be on your way to a fulfilling business life.

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Kate

MedifastHealth.org

There is really no reason to quit your day job until you have your business up and running and you generate some sales.  Stay motivated and work nights and weekends to get it launched. 

Best of luck!

You must find the right business. Once you find the right one you'll know it for sure. The business is probably going to be in IT because it is the fastest growing industry.

Its great to start thinking about a new venture. I would, however, suggest that you do what you can while employed. Start part time to put the structure in place, develop product and marketing materials, organize the business and finances. When you need to invest more time in the business, consider whether you can hire someone else to do the work on a part-time basis, take some leave from work, request to go part-time at work (only if you are ok being let go at that point, cause it may happen).

Best of luck!

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Telecom Management Tools

By seeking sound advice from established business owners who are willing to guide newbies on the road to successful business ownership. Also, avoiding ones who give out cliche statements you can deduce on your own. I agree with all the others who mentioned having a positive attitude. That's one of the best investments you can give.

Good luck.