Quitting my job to start my own business

[TCB]

Good Luck!!! I'm exploring options on starting a business or franchise.....tired of working for a major corporation that doesn't know what direction they want to take the company.

[AntlerCollector]

Best of luck to you. This place is a good start.

[Eagle19]

First of all, good luck with your endeavor and your desire to be a self employed business owner. Secondly, I am not a business owner nor have I ever really been self employed, aside from mowing lawns and stuff like that when I was in college, so take my post for what its worth, which isn't much.



From the outside looking in, I worry that you are a little "overly optimistic" at this point for a lack of a better term. I'm not saying that you shouldn't be exited about your future plans, but I'd honestly take some more time to really think things through, do lots of research, and come up with a realistic business plan before quitting your job. I would assume that marketing and promotions for small independent outdoor companies could be a very challenging market to break into. Honestly, a couple weeks of thinking about something isn't much of a foundation to bet your financial well being on.



The thing that would worry me the most would be the three months of monthly income that you have saved. I would personally plan on not making any money for at least a year once you make the plunge. I obviously don't know your specific situation and you may have a spouse that makes plenty of money, which would change things to some extent. If you are the sole income earner or if your family counts on your income to survive, I'd be very careful about quitting my job at this point. That would honestly be my biggest concern. I would plan for the worst and work toward success.



Again, good luck to you. I admire your desire to get out of the rat race and to work for yourself. I'm just trying to play the other side of the argument so that you go into this with your eyes as wide open as possible. Keep us updated.

Side note - I did leave out some important information

My wife has a job that makes 50K a year. By 3 months of savings that's if we both aren't working. So really I have 6 months. But if I don't have any income coming in by 3 months. It's time for me to get another job. I also know the GM's of my local Lowe's and HEB. They both said if I needed a job they have a space for me. Would that be desirable, no, but it's a net. My wife and I are 24 so we don't have to pay health insurance yet. We paid of my wife's student loans last year. So the only debt we have is my truck and house payment. Truck and boat can go if they need to. And we have no kids. Basically my risk is relatively low compared to what some people have to lose by starting their business with a family.

The other cool thing is this business has next to no overhead other than the mortgage!

Is it a risk? Of course. But I don't think I have a lot to lose. I'm also the type of guy to where I'll go knock on doors if I have to. Bankruptcy is not an option. Also because I'm hungry, I'm cutting my terms in half compared to a couple competitors around town(which aren't really competitors. They get 6-9 clients and just leave it at that.) Lower prices and shorter contracts.

The other good news is I know the inside and outside of social media and Amazon. My local competitors don't. Specifically Instagram, I've learned how to target followers who enjoy the outdoor industry and can prove that with my personal page which grows by thousands a week.


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[Cajun shooter]

Best of Luck to you !!!
Takes guts to step out on your own but the freedom you have doing it is immeasurable !!!

Hit the ground running and it will pay off for you !!!!

LROSE

This!!!


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[Nock This]

Best of luck to you

[Gunnyart]

So what exactly are your marketing "chops". Are you degreed? What do you bring to the table. Sell Yourself to us!

[Mac5dawg]

All in and never give up!

[sierracharlie338]

I am honestly jealous. I wish I could do the same thing one of these days maybe. Best of luck to you and I hope it proves to be a blessing for you.

[nchunter]

I'm crazy excited and a nervous. I'm sure everybody feels this way when they go to make that leap. But I figured my current job wasn't going to get any better and so I figured I'll give it a shot. I'll be doing marketing, mainly for small outdoor product companies, and try to land a few local small business'. I've got 3 months worth of savings which I figure should be enough to get some sort of income rolling in. I've been coming home every day this week working on my website and starting to generate leads. Telling my boss I'm out tomorrow. If he wants me to stay two weeks, I'll stay, but I doubt he will. Lots of hard and long hours the next couple of weeks but I'm hoping it will be worth. Excited none the less no matter how long and hard I'll have to work!


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I'm going to send you a PM shortly.
We are in the process of starting a 100% american made hunting clothing line made in Colorado and it may be mutually beneficial to talk at some point.

[Je3749]

Good luck, the hours will be long for the next few months or years, not weeks. Running your own business, can be very stressful.

[glen]

Good for you. Live the American Dream and dream big

[Outlaw_6]

Good luck!

[Charles]

Side note - I did leave out some important information

My wife has a job that makes 50K a year. By 3 months of savings that's if we both aren't working. So really I have 6 months. But if I don't have any income coming in by 3 months. It's time for me to get another job. I also know the GM's of my local Lowe's and HEB. They both said if I needed a job they have a space for me. Would that be desirable, no, but it's a net. My wife and I are 24 so we don't have to pay health insurance yet. We paid of my wife's student loans last year. So the only debt we have is my truck and house payment. Truck and boat can go if they need to. And we have no kids. Basically my risk is relatively low compared to what some people have to lose by starting their business with a family.

The other cool thing is this business has next to no overhead other than the mortgage!

Is it a risk? Of course. But I don't think I have a lot to lose. I'm also the type of guy to where I'll go knock on doors if I have to. Bankruptcy is not an option. Also because I'm hungry, I'm cutting my terms in half compared to a couple competitors around town(which aren't really competitors. They get 6-9 clients and just leave it at that.) Lower prices and shorter contracts.

The other good news is I know the inside and outside of social media and Amazon. My local competitors don't. Specifically Instagram, I've learned how to target followers who enjoy the outdoor industry and can prove that with my personal page which grows by thousands a week.


Sent from my iPhone using Tapatalk

Don't sell yourself to cheap. You want to be known as the "Best Value Guy" not the "Cheap Guy".

[Maddies Dad]

I was kinda siding w/ the naysayers, but also excited for you. But when I read that your wife works and you don't have kids... DO IT! DO IT NOW! And good luck!

[duckmanep]

One of your first adventures needs to be a visit with your CPA. He/She will let you know what documentation you need to be keeping and how to keep. Good Luck sir!