Quote:
Originally Posted by Mustang
The excitement of last night has faded quickly into personal conflict (again) and it is the same questions that I've fought from the beginning. Actually 3 questions that I keep asking myself. Can we? Should we? Could we? I say we because whatever I decide, it will have an effect on the entire family.
Can we? I don't doubt we could. Effectively, we have been doing this for the last 4 years so, we know the time commitment needed to do this and the business side we have a handle on so, I'm pretty comfortable with saying yes on this.
Should we? I don't think it is any big revelation when I say I dislike my current job. Nay, hate my current job. I've soured on the corporate world greatly and it just seems like such a waste of my life to be sitting in a cubicle. At the end of the day, when I leave this planet, I don't want my crowning achievement to have been 'Fixed Betty Sue's Banking Statements'
I want to be my own boss, run the show and have a different professional life other than this so, ya... this is a should we.
Could we? This is the question that is killing me right now. For the short term, I would be doing all of the heavy lifting. Just working this job, running the business so, that would suck up 70 hours of my time in the short term of 3-6 months where I don't see hiring any employees potentially. My wife has concerns of me burning out, I'm worried that my relationship with my 2 year old daughter will suffer. The business is a way to improve our lives potentially and change our lives. I don't want to be one of those people 3 years from now working 80 hours and my wife and little one(s) only seeing me 30 minutes a day and justifying it with 'I'm doing it for us'. I can endure the short term pain, but I have to absolutely make sure I have a plan to make sure that short term pain doesn't turn to long term pain***
*** anyone feel free to insert sagely advice.  |
Not much in the realm of advice as I am keeping my business purely online but i am going through the same thought process right now. My job is stable although commission based so income is down to the point that my online sales are actually equaling or paying more out than the job. The one thing keeping me there is the health insurance (Wife with a bad back and personal health care insurance here is expensive) however, I have been in talks with an insurance agent and with me incorporating the company he can come in and give me premiums a hell of a lot cheaper than even what I am paying at my current job.
So I have that going for me...
The biggest thought is growth and an exit strategy for you. Being a small business owner with a storefront will require that you or your spouse is there at all times. It's part of the reason I am able to sell our software easier and fast to SBO's than any others out there as they are tired of losing money if they aren't at their place of business.
Write in your goals for your business plan on long term growth and an exit strategy and include the way of life you are looking for in it, that way you have a sound strategy written down and will be more focused on it.