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It is currently Thu Oct 23, 2014 3:14 am




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 Post subject: Time to Go On My Own
PostPosted: Tue Oct 07, 2014 5:37 am 

Joined: Mon Oct 06, 2014 8:12 pm
Posts: 4
This is my first time posting, so please bear with me if I don't seem too open or sound too secretive. I need to test water little and I'll share definitely more as I feel more comfortable.

I'm in mid 30s, married and a boy. Looking back, I wonder if I have had courage to take risks before. Not talking about a type of risk required to invest in stocks or anything. A risk to go on my own when a stream of income from my employment is supporting my family. Has anyone taken such risks and able to share little?

I've realized there are fundamental differences in terms of daily mindset and approach to my life between working for a company and working for yourself. I think my boy will witness the difference between his dad doing 9 to 5 coming home stressed and his dad running around all the time, stressed but making something on his own.

Yes, of course, if your parents are rich and have good business themselves, then it wouldn't apply very well. But what if you're just average Joe and how do you get to that place where you're generating businesses based on your own skills, instead of continuing to rely on your boss to generate businesses.

Yes, I'm working on business plans, revenue projections, list of potential clients, and etc. I'm working out numbers. I plan to get there slowly and gradually. But I would love to hear about people's general experiences in this area, making well-planned transitions and what it took you to get to the other side..

Thanks
Ryan


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 Post subject: Re: Time to Go On My Own
PostPosted: Tue Oct 07, 2014 6:20 am 

Joined: Wed Feb 26, 2014 10:23 am
Posts: 55
Did it. Love it. Has paid off significantly. That being said I had a large client list, an extremely sellable skillset in high demand, and my blood is actually coffee/energy drinks. If I didn't have the combo above I'd probably have been a bit more cautious about it all.


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 Post subject: Re: Time to Go On My Own
PostPosted: Tue Oct 07, 2014 6:33 am 

Joined: Tue Mar 11, 2008 12:19 pm
Posts: 1776
Location: Ottawa, Canada
RyanK wrote:
I think my boy will witness the difference between his dad [...] coming home [...] and his dad running around all the time [...]


Depending on the age of the boy, this (slightly edited) snippet could be all he notices. "Dad used to play with me at night, now he's never home."

LiquidMercury wrote:
Did it. Love it. Has paid off significantly.


If I recall correctly, LiquidMercury doesn't have any kids. That's a huge factor in this equation, in my opinion.

Personally, I would not risk it, but I suppose if everyone did as I do, there wouldn't be *any* small businesses. Someone's gotta take such risks, although personally, I wonder if statistics would bear out any correlation between such entrepreneurs and broken/divorced families.


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 Post subject: Re: Time to Go On My Own
PostPosted: Tue Oct 07, 2014 7:00 am 

Joined: Wed Feb 26, 2014 10:23 am
Posts: 55
Correct zero kids. I'm in the absolute perfect time of my life to do what I've done - start on my own and grind without any major debt (other than mortgage) hanging over my head and not having to feed anyone but myself (and that's usually on expense account). If my situation were different I'd have been a bit more cautious (or possibly not done what I did to be honest). The older you get, and the more financial responsibilities you have (kids etc.), the less risk you can handle. At the end of the day if I had failed fantastically I would have been able to start over without causing anyone hardship and could have gone back to working for someone by the end of the week.

Regarding entrepreneurs ad broken/divorced families I'd say that is more on the personal level of people being able to manage expectations/communication with their SO. I also imagine that successful businesses are more often than not not as broken in the home life as unsuccessful ones. Easier to stick with things/someone when it's going well.


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 Post subject: Re: Time to Go On My Own
PostPosted: Wed Oct 08, 2014 6:20 pm 

Joined: Mon Oct 06, 2014 8:12 pm
Posts: 4
LiquidMercury,
I would be curious to hear about a couple of examples of "sellable skillset in high demand" if you don't mind. Thanks
Ryan


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 Post subject: Re: Time to Go On My Own
PostPosted: Wed Oct 08, 2014 9:26 pm 

Joined: Wed Feb 26, 2014 10:23 am
Posts: 55
I'm a "geek that speaks", or at least that's my tag line. I'm also one of maybe 200 people world wide with my skillset/certifications (IT related) and one of maybe 20 with the project success rate that I have (100%) in an industry where project success rate is only about 25% but the demand for people who do what I do is quite large, especially in fortune 100 companies. Couple that with being more than just a technical person and having a business background in management consulting and being able to communicate effectively and it's put me in a great position to succeed and take chances with minimal risk while surrounding myself with great people.

All that being said, I recognize that technology is ever evolving and I must do so with it. I've got 10 years or so guaranteed with the knowledge I have now, but I'll need to continue to grow my skills personally and continue to grow the company with skilled people of a similar mindset.


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