Forums: Discussions for entrepreneurs and small business.

I was reminded today of my post about this in January of 2009. Now that things have changed a little, I wanted to post an update.

I now have my wife's buy-in. How? I showed her the numbers. I calculated how much money we actually live on (it's much less than I currently make) and I calculated how much money we have vested in my company's stock. I told her that I'd work at my current job for one more year with the plan of leaving at the end of 2010. We then met with our financial counselor, whom my wife knows and trusts. We talked it all through, and he confirmed that this is a great, non-risky (this is the key for my wife) plan. I cashed in a bunch of stock and placed it into conservative and safe CDs for a year. Starting in 2011, I can pursue my ventures full-time, and without the stress of having to make a bunch of money right off the bat. That satisfies her desire for security, but my plan is actually to get things running well enough this year on a part-time basis so that I barely have to tap into this "self venture capital" that we've got set aside. Rejoice with me!

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Brian O`Keefe
Web Designer & Writer @ YiNZCO
Athlete & T-Shirt Guy @ STR!VE NATiON

Brian,

You've nailed it. Congrats. I too finally wrote about this on my blog since I have gotten around to launching it finally.

The post gets into why you need your spouse's buy in, the critical factors below (in detail) as well as how to get that buy in.

• Time Factor
• Money Factor
• Attention Factor
• Social Factor

You can read it here: http://easyextramoneyonline.com/blog/2010/08/how-to-get-your-spouse’s-buy-in-before-starting-a-business/

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