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Bama · 08-15-2005, 09:14 AM

I'm assuming from your post that you are currently single and have no dependancies other than yourself and if that is the case, that's a good thing - now is the time to take these kinds of risks. I know exactly what you're going through - I've been there myself.

A couple things you said jumped out at me and if you could clarify, it'll be easier to give you a more informed opinion.

You said that you're currently doing business but that it's not very successful - breaking even at best - but you then go on to say that you've developed an idea and believe that you can make it successful and profitable. Is what you're currently doing and what you'd like to be doing 2 different products/services?

You go on to say that you have enough savings to last you 4 months if you quit your job and that you believe that you can make this new endeavor profitable in 3 months - but you didn't finish that sentence, and not so much for people here - you need to finish that sentence in your own mind...

I believe I can be profitable in 3 months IF - and you need to know what those IF's are and how you are going to make them happen. Giving yourself only 1 month buffer in money is really pushing it and if you're wanting to take this shot in life - you're not giving yourself an honest run at it because of the money factor. That said, you can overcome that depending on how you plan on doing things.

Follow me through this little scenario....

Let's say your idea is to haul apples to customers in nearby villages that are cut off from you by a densely overgrown jungle.

This is your current plan:

I need to quit my job and focus solely on this new business. I need to build a bucket to carry the apples in, and clear paths through the jungle so I can get to the other villages. Once there, I can find customers who will buy my apples. It'll take me 2 months to build the bucket and build the trails so that'll give me 1 month to find paying customers before I run out of savings.

The scenario I'd suggest is this:

Hire someone to build your bucket and the trails while you continue to work. It's still going to take 2 months to build these things but you've continued to work your current job but at the end of those 2 months, you should still have 3 months of savings - minus I month to pay the guys to do those things for you.

During the time that the guys are building the bucket and trails, you're spending your time writing to the people in neighboring villages to promote your new service and lining up the customers you'll need.

So at the end of 2 months - with a brand new bucket in hand and freshly cut trails to walk on, you're carrying apples to actual customers and have 3 months of savings in the bank.

NOW you have 3 months in savings to BUILD your business rather than START your business.

08-15-2005, 09:14 AM
Bama Confirmed User Join Date: Nov 2001 Location: Redmond, WA Posts: 2,727	I'm assuming from your post that you are currently single and have no dependancies other than yourself and if that is the case, that's a good thing - now is the time to take these kinds of risks. I know exactly what you're going through - I've been there myself. A couple things you said jumped out at me and if you could clarify, it'll be easier to give you a more informed opinion. You said that you're currently doing business but that it's not very successful - breaking even at best - but you then go on to say that you've developed an idea and believe that you can make it successful and profitable. Is what you're currently doing and what you'd like to be doing 2 different products/services? You go on to say that you have enough savings to last you 4 months if you quit your job and that you believe that you can make this new endeavor profitable in 3 months - but you didn't finish that sentence, and not so much for people here - you need to finish that sentence in your own mind... I believe I can be profitable in 3 months IF - and you need to know what those IF's are and how you are going to make them happen. Giving yourself only 1 month buffer in money is really pushing it and if you're wanting to take this shot in life - you're not giving yourself an honest run at it because of the money factor. That said, you can overcome that depending on how you plan on doing things. Follow me through this little scenario.... Let's say your idea is to haul apples to customers in nearby villages that are cut off from you by a densely overgrown jungle. This is your current plan: I need to quit my job and focus solely on this new business. I need to build a bucket to carry the apples in, and clear paths through the jungle so I can get to the other villages. Once there, I can find customers who will buy my apples. It'll take me 2 months to build the bucket and build the trails so that'll give me 1 month to find paying customers before I run out of savings. The scenario I'd suggest is this: Hire someone to build your bucket and the trails while you continue to work. It's still going to take 2 months to build these things but you've continued to work your current job but at the end of those 2 months, you should still have 3 months of savings - minus I month to pay the guys to do those things for you. During the time that the guys are building the bucket and trails, you're spending your time writing to the people in neighboring villages to promote your new service and lining up the customers you'll need. So at the end of 2 months - with a brand new bucket in hand and freshly cut trails to walk on, you're carrying apples to actual customers and have 3 months of savings in the bank. NOW you have 3 months in savings to BUILD your business rather than START your business.