Few recommendations:
-build up a nice nest egg if possible beforehand, income will likely be lower than your current job for a 6-24mos
-a working spouse helps tremendously to provide income and stability for your family
-IMO the benefits outweigh the risks, if it goes south you can always go back to employment
-timing is important: family, upcoming promotions, young kids, etc

It’s not for everyone, but I truly think everyone should try at some point. Even if it doesn’t work out, there is always the fallback of going back to your old field. Probably won’t make you a million bucks, but the freedom (and stress at times) are incredible for your work-life balance.

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Posted by TigerinATL

Member since Feb 2005

61675 posts

Posted on 3/28/24 at 6:47 am to halleburton

I don’t know what you guys pushing freedom are talking about. Maybe you’re all a bunch of independent sales reps that hit your monthly numbers early and take a vacation, but everyone I know that has their own business is beholden to it. Sure maybe they can juggle their schedule in ways they couldn’t if they weren’t the boss, but the obligations are much greater than if they were working for someone else.

I'm not saying the trade offs aren’t worth it, most seem to love it. But when I hear people talk about “freedom” I hear “free time” which is not something any small business owner I know often has unless their business is fairly established.

This post was edited on 3/28/24 at 6:49 am

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