Forums: Discussions for entrepreneurs and small business.

:-) Then understand that all things are in their place, all is well, and the universe is not broken. When it`s time for you to leave the corporate world, you will. There won`t be anything you can do about it, regardless that you think you have a choice. Your "self" will engineer the change, and it will seem to be the overwhelmingly best idea you`ve had in years. And then you`ll do the next thing.

Very true CraigL.

Working for yourself exclusively is the fastest way to see your business become a success.  Not always practical in the grand scheme of things however.  When you have other income it is a bit easier to put off things that need to be done in your business.  You are exhausted because you are burning the candle at both ends, your financial needs are being met, so why not put a few things off.  From there it becomes easier and easier to settle into the comfort zone of a 9 to 5.

-------------------------

Pokerman It`s not about what you can do... it`s about what you will do! Amateur Poker League Software - Drive Traffic - Add 100,000 Songs to your website - Music Catalog

Keep in mind that when you`ve got your bases covered, a safety net, and that other way to pay the rent, you ALSO don`t take anywhere near the risks! When your back`s to the wall, you`ll be astounded at how much imagination you have  to overcome real emergencies. You`ll also be far more willing to let go of what used to be absolutely necessary. :-)

that`s true. I just want to make sure I can afford bread, pb and j, and my cell bill and I`ll be fine. 

-------------------------

Follow the journey of Marvin Hawkins Visual Concepts and Nothing Like It Games at http://gamerdeveloper.blogspot.com/

I think the only problem with your thinking craig is that not everyone can afford to take that risk. I`m able to move home with my folks; therefore I can take some risk.

If I had a small family, that probably wouldn`t work out. In the latter case, isn`t there some value in learning for another business first?

-------------------------

Follow the journey of Marvin Hawkins Visual Concepts and Nothing Like It Games at http://gamerdeveloper.blogspot.com/

I think there is. I`ve worked the corporate sector for the first 15 years of my career. I`ve learned valuable industry best practices and mentored under some top-notch business leaders. I wouldn`t trade my experience for anything.

No, I`m not saying you *have to* take the risk. :-) I`m only saying that there are two very difficult propositions facing the hopeful entrepreneur---especially those in your situation, with kids and bills and a necessity for income.

The first is that trying to get all the ducks in a row before starting the venture can often take so long, the business never gets started. The second is that because there`s the current income and safety net, the hopeful entrepreneur doesn`t push the envelope as much, oftentimes leading to a business failure.

It`s an observation of a sort of Catch-22, and the topic of much discussion on this forum.

Another observation is that people who are in your position, sometimes (not, by any means, always), go to work one morning to find they`ve been laid off, or their job`s been outsourced, or the company`s been sold. They`re suddenly without income at all, regardless of whether they were trying to start a business.

In those situations, they`re scrambling as wildly as if they`d voluntarily walked away from the steady job. So the issue becomes one of timing. In those particular cases, wouldn`t it be nicer to choose the moment when you dive off the board, rather than have the job yanked out from under?

Ha it`s funny that you bring that up craig because I`m in Limbo with that right now. I went to my interview and it turns out that they are a temp to hire or full time hire staffing company.

To me this represents a better advantage than my current job because I know when a given job will end. And when my business is in high gear. I`ll have a definite exit date.

But on the otherside of the coin: I went to work Monday and hated it because I kept thinking to myself "This is time I could be using to work on my own business" So I`m struggling with this issue now. If I`m working part time I guess that`s better than none. But for one job I`ve reached the point where (as the prisoner might say) I gotta get out. Im thinking of leaving net or no net. A huge risk.

I figure it`s not really supporting my lifestyle as it is so what`s the harm in leaving?

-------------------------

Follow the journey of Marvin Hawkins Visual Concepts and Nothing Like It Games at http://gamerdeveloper.blogspot.com/

I love your sense of passion for what you WANT to do! I think you have your head on straight for this one...even if the decisions seem difficult...ultimately...because you know your goal and what you want to achieve...you will make the decisions that fit your situation best at the time. I love the idea of the temp jobs...I did that for a while when I first moved but mainly because I was having trouble getting companies on the west coast to take my resume seriously because it was all east coast work (go figure). A few months working with temp companies and I found a good fit that I have stuck with and got hired on permanent. I think for you it might be a good safe place to be...if things work out as you have planned...then like you said...you have a set time you can get out and go full with your passion....if things dont` work out with your endeavor...you always have the option through the temp agency to find something more permanent! Keep your goals in sight and you will eventually get there!

-------------------------

Leah Tucker

One way to do this is to wait for an opportunity that "almost" meets all your requirements. By that, I mean to get a windfall of money (or maybe a loan?) that would give you say, 10 months to really give your own business a shot. At the end of the 10 months, two things could happen.

In my case, I got a chance to write a book that we knew would sell at least $10K worth of copies for sure. I was working elsewhere, and except for taking 2 weeks off at the very end, kept that job. I continued working for 6 months, while the book went into the market. Then, it returned far more than expected, and I was able to quit the regular job to concentrate on writing.

I was fortunate, but I recognized the opportunity to choose: keep working for safety, or take the money that would pay the bills and give writing a full-time shot.

It could be that your new business brings in enough that you can just barely stay afloat financially. Or, it could be that you discover the business really isn`t going to work at all, and abandon the idea.

A third option would be that you`d have 10 months to lay a solid foundation. If you really worked on the processes, I`m thinking you could then work for yourself on a part-time basis, and also work for someone else part-time. The combined part-time jobs would come close to your barest necessity, in terms of supporting the family?

In other words....take a one-time opportunity to invest in your new business the same way you would take any windfall and invest it judiciously in a portfolio.