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Making the jump without going part-time

Posted on: Thu, 26/06/2008 - 16:33
Making the jump without going part-time

In the last 3 days I have listening to all 12 pod casts available from i-tunes.

In nearly everypod cast Steve mentions that people should try their business part-time before making the jump.

However, I am not fortunate to be in that situation. My employment contract states that I can not for any other company. Nor can my wife work for any other company that might cause a conflict of interests.....so I cant start the business in her name either!

Has anyone else made the jump without going part time first?

Thanks

Gavin


Posted on: Fri, 04/07/2008 - 11:02 #1
Jumping

Dear Gavin

Urrr I guess it depends on your situation. Financially I can not afford to jump and so starting the business whilst working full time - its hard. I have however taken a job that is not in my field and I dont like it - which is great because every night I come home it gives me that extra push (no matter how tired I am) to work on my business. If we had some small security I would not waste two minutes and I would jump full time into the business because I believe in myself and my service. I am offering a service which could take months of work before being paid - whence neediing some security.

Way up your options, how long financially can you surivive without getting paid? Is your business ready to go? Is having your own business what you want? ask yourself many many questions in the end go with your gut! You would always get a part-time job unrelated to your industry to get some money in until the business takes off.

Think outside that box! Best of luck in whatever you decide but dont live with regrets. You never know unless you give it a go!

Andrea

Posted on: Fri, 04/07/2008 - 23:14 #2
Give it a go

Hi,
Gavin I just leapt in and luckily all has been well but trust me sometimes things can be tight whether you've just started or like me been going over three years. You get good times and bad times.

As for security and I may have posted this before in what job do you have security? I used to work for a chandelier company and one Friday they decided to make some people redundant at 4:30, 30 minutes before we were due to finish including the guy who'd been with the company the longest 22 years, yes he took them to court or whatever and got a payout but I bet he'd rather have had the job!
You definitely have to make the leap, you need to set yourself a goal of when you are going to do it and then save money like crazy (so you can live for 6 months I'd say on a survival budget) and plan for your jump, It's good really you can plan your business, meet some advisers (more than 1) get out and network so people get to know you, design your logo etc etc. arrange the day of your launch.

Also Gavin what is the wording on your contract because you wouldn't be working for another company you'd be working for yourself or setting up a company?

Like Andrea says you'll never know unless you give it a go, and you'll hate yourself if you don't!

Good luck

Paul

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