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re: Business owners- when did you make the decision?

Posted on 3/29/17 at 11:24 pm to
Posted by stuntman
Florida
Member since Jan 2013
9139 posts
Posted on 3/29/17 at 11:24 pm to
Two things for me:

1) I was in sales for a few different companies and knew the people were buying me, not the company I worked for. I knew if for a while, but was just scared to pull the trigger.

2) The collapse in '08 was all the impetus I needed in order to quit and start up my own company. I wasn't let go by my employer, but I knew that it was time to depend on myself instead of others who could have let me go at anytime they pleased.

Everyone thought I was crazy at the time for leaving a secure job, by my own choice, as the economy was imploding.

One of the best decisions I've ever made. The only thing I regret is not doing it a few years earlier.
This post was edited on 3/29/17 at 11:25 pm
Posted by GFunk
Denham Springs
Member since Feb 2011
14967 posts
Posted on 3/30/17 at 6:06 am to
I'm 8 months in here. Have not left my full time job. Work several hours per week on average over the course of the month. On pace to generate 15-20% of my current annual salary over the first year.

I'm fairly certain that with the right marketing (I've spent $20 grand total so far in advertising) and time invested via dedicating to my biz FT I could generate the same income I experience now. But the Retirement & Insurance benefits I receive are huge factors that put any notion of striking out totally on my own a few years away. At least.

I look at it as a way to increase my take home pay, lower my taxable income for the first few years and allows us to pay off debt. There may be a time to discuss a plan to make it something I currently don't view it as (my only job as opposed to my side hustle or 2nd job). But sticking with a conservative outlook, I don't see that time in the near future, like I said before.
This post was edited on 3/30/17 at 6:08 am
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