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Old 06-27-2011, 04:58 PM
 
281 posts, read 407,632 times
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Lately I've felt that I will never really be happy slaving away at a 9-5 job, even if it's something in my field of interest. I'm toying around with the idea of starting something for myself, though I have no idea what yet. Could anyone here with an own business give me some of the pro's and cons?
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Old 06-27-2011, 05:54 PM
 
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I'd do both, get a steadu fulltime job and work your business on the side.
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Old 06-27-2011, 09:57 PM
 
Location: Pennsylvania
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I ran my own business for a year, when I was in between two full-time jobs (by choice). The business was in my field and arose naturally out of my experience. I'd have a hard time imagining myself doing something that didn't arise pretty organically.

Pros:
- Flexibility of time and attention
- I got to do some things I really enjoyed
- I enjoyed networking, making contacts, meeting new people
- I learned new skills

Cons:
- People sometimes stiff you on payment and it's a hassle to track it down
- I had some really strong concepts but lacked the marketing expertise to pull them off, and I didn't stick with it long enough to make it work
- Paperwork/tax info is a hassle
- Sometimes felt isolated and missed being part of a larger community
- Due to an unforeseen circumstance beyond my control, an area that I thought would be a major revenue stream all but disappeared

Had I stuck with it longer, I believe I could have made it work and made a decent living. The major reason I stopped and went back to work as an employee was health care. I was able to get it cheaply ($100/month) through my wife's job. But she was relatively new at her job and when talk of layoffs came around (late 2008), she was worried she might go in a last-one-in,first-one-out scenario. While that didn't happen, it concerned me that if she had to take a contract position, we would never find somebody willing to insure her, and that was too big a risk for me to feel comfortable with (this was prior to the healthcare reform law). So I quietly began looking for jobs that seemed like they could be a good fit for me, found one, and took it. I'm generally happy with it, but do miss some of things I listed as pros above.
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Old 06-29-2011, 04:22 AM
 
3,853 posts, read 11,974,622 times
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Quote:
Originally Posted by Ripley6174 View Post
Lately I've felt that I will never really be happy slaving away at a 9-5 job, even if it's something in my field of interest. I'm toying around with the idea of starting something for myself, though I have no idea what yet. Could anyone here with an own business give me some of the pro's and cons?
Yea thats the best way to do it. I worked full time until by business started to generate decent profits. Once that occurred I was able to quit and work full time on my business. However, it did take me 3 years of blood sweat and tears to get to that point!

Most people think that business is the way to quick money - it isn't. However if you do have a good idea then you can make quick money at the later stages of the business. I'd say you'd have to invest AT LEAST 3 years before you turn a profit. It can take awhile because it takes time for customers to find your business, unless you get the, "facebook effect" and get millions of people banging on your door because it went viral on facebook or youtube etc.
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