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Go Back Ā  Anabolic Steroids Discussion and Bodybuilding Forum > Off Topic Discussion > General Off Topic Discussion

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  • 2 Post By AnaSCI
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Start own biz or stay employed ?
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Start own biz or stay employed ? - 01-28-2013, 01:18 AM

Hello, guys. Just came to the point of my life when I must take this decision. Advice from you would be highly appreciated.
   
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01-28-2013, 01:22 AM

I would suggest staying employed while starting the business. You want to have your continued support while starting your new venture.
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01-28-2013, 01:54 AM

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Originally Posted by AnaSCI View Post
I would suggest staying employed while starting the business. You want to have your continued support while starting your new venture.
Smart idea. I think it is really hard for us to be able to say "go for it!" Without knowing the circumstances. I've been in business before and at the end of the day your decision needs to be calculated and not just done cause you want to.
It's a lot harder being self employed than what most people think. Plenty of unpaid hours in the office.
I wish you well if you do decide to go for it though
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The character Incognito1 is of a fictitious nature, therefore everything stated is also fictitious.
   
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01-28-2013, 04:34 AM

I'd love a own biz.. But its something you will be married too for life so make sure is some biz that's not on a whim decision. What kinda biz? Or say none of your biz .. Lol. The type makes it to be able to stay employed or go all in is what I'm saying..
   
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01-28-2013, 11:45 AM

Can you post what type of business, have you checked your area for the same type of business you want to open. Do you have business management and marketing skills.. Are you happy with your current job there are tons of factors when making a decision like this.


Good luck with whatever way you go..


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Hello, guys. Just came to the point of my life when I must take this decision. Advice from you would be highly appreciated.
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01-28-2013, 12:59 PM

AnaSCI nailed it that's exactly what I did 27 years ago. I wanted to do my own thing, but in the same line of work I was doing. That's what I was good at. So I kept my day job and starting the ball rolling in the evenings and weekends. Client contacts and a network are extremely important. If you are good at what you do, like what you do, and can fill a niche, you'll be fine. But it does take a bit of "damn the torpedoes, full speed ahead" mentality. Fear has kept many on the sidelines. I remember thinking when I started my biz, I'm going to give this my best shot, but if it does flop, I'll just find another job. Its not the end of the world. But when it does fall into place, you will love the independence. Your job will own you, but it will reward you in ways only self-employement can do.
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01-28-2013, 03:14 PM

A lot depends on what type of business this would be. And remember don't burn any bridges.
   
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01-28-2013, 06:27 PM

Buddy, I teach entrepreneurship at the college level. I can't tell you whether to start a business or not, because I have no information about you, your experience, your plans, your skills, your capitalization, or the market for the good or service you're proposing.

Having said that, PLEASE take this to heart: 75%-80% of New Small Businesses FAIL within 6 years, for the following reasons:

1) UNDERESTIMATED start-up cash needs, and, more important, cash flow needs to carry the operation until profitability is reached.

2) OVERESTIMATED the skills the Entrepreneur thought he/she had. NO ONE can be an Ideas person, a people person, a computer Geek, a Marketer, a Manager, and R&D person, a Market Research person, and a Financial Accountant. YOU NEED ASSISTANCE from others skilled in those areas, and NOT YOUR FAMILY OR FRIENDS OR GIRLFRIEND.

3) OVERESTIMATED the world's response to the product or service. There are MILLIONS of products out there, and the competition comes from ALL OVER THE WORLD. Just because YOU think its a good idea, doesnt mean it is ... and even if it IS, you must COMMUNICATE that Value to potential customers and execute sales. A webpage that is nothing more than a cyber-billboard is a waste of your time - KNOW how to Market.

If you can digest and process that, GO FOR IT. If you dismiss it and say, "Hell, that's not me....,'" you probably will be one o those statistics that dont make 6 years.....
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01-29-2013, 11:17 PM

Quote:
Originally Posted by MilburnCreek View Post
Buddy, I teach entrepreneurship at the college level. I can't tell you whether to start a business or not, because I have no information about you, your experience, your plans, your skills, your capitalization, or the market for the good or service you're proposing.

Having said that, PLEASE take this to heart: 75%-80% of New Small Businesses FAIL within 6 years, for the following reasons:

1) UNDERESTIMATED start-up cash needs, and, more important, cash flow needs to carry the operation until profitability is reached.

2) OVERESTIMATED the skills the Entrepreneur thought he/she had. NO ONE can be an Ideas person, a people person, a computer Geek, a Marketer, a Manager, and R&D person, a Market Research person, and a Financial Accountant. YOU NEED ASSISTANCE from others skilled in those areas, and NOT YOUR FAMILY OR FRIENDS OR GIRLFRIEND.

3) OVERESTIMATED the world's response to the product or service. There are MILLIONS of products out there, and the competition comes from ALL OVER THE WORLD. Just because YOU think its a good idea, doesnt mean it is ... and even if it IS, you must COMMUNICATE that Value to potential customers and execute sales. A webpage that is nothing more than a cyber-billboard is a waste of your time - KNOW how to Market.

If you can digest and process that, GO FOR IT. If you dismiss it and say, "Hell, that's not me....,'" you probably will be one o those statistics that dont make 6 years.....
   
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