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Employment versus Business: Time to take the leap?
oblongblong
#11 Posted : Thursday, August 13, 2009 9:54:00 AM
Rank: Member

Joined: 10/25/2007
Posts: 7
That depends on a number of things.


Do you like what you are currently doing? Is the managerial a job that simply brings home the bacon or a career that you enjoy,and has good professional growth prospects? If the latter,I'd say stay on. Particularly if your employer has no beef with your side biz. You would not be the first to do such a thing and if it is as you say,it appears the side biz is doing pretty well and has got great growth potential. If you can advance in your current career,professionally as well as financially,and have the side biz not suffer as a result,well,you should stay on

You mentioned that there is great growth potential for the side biz. Could that be limited by the fact that you are not fully hands on or is it a matter of time. If it requires your full time attention,well then you may want to consider leaving your current job.

Is the side biz the kind of thing that simply makes you money or you like doing what you do? I've a friend who began a side biz in the tents and chairs biz. And it is doing pretty pretty good. But for all intents and purposes,its not the kind of thing he lives for. Plus,he has been able to find some decent fella,pay them well and they provide the daily hands on experience. He has a professional job and he also spends some afternoons improving on his handicap.


My two cents worth,you do not have to quit your job to establish successful businesses. But you will have to pay the price for the options you will take. It may take longer than you hope or your employer may pass you over if he feels your attention is equivocal.

Unfortunately,the intelligent think that everyone else is.Tragically,the obtuse believe they are intelligent.
Mr.Tea
#12 Posted : Thursday, August 13, 2009 12:06:00 PM
Rank: Member

Joined: 12/4/2008
Posts: 341
Location: Nairobi
@Sight,
Everything is a risk including an 8 to 5,even more so that,considering most individuals live a sheltered life. You could hang on to what you have to the end which sometimes comes suddenly and swiftly or become ingenious early. Truth is once bitten by the entrepreneurial bug usually there is no stopping. Take a calculated risk even as you take your baby steps and I will guarantee you,its one experience you will never be rueful about.

Patience Pays in Guaranteed Checks
Patience Pays In Guaranteed Checks.
Tycoon!
#13 Posted : Thursday, August 13, 2009 12:58:00 PM
Rank: Member

Joined: 9/11/2007
Posts: 62
Location: Nairobi
@ sight
while you have asked for advice from mature people...i think i could put in my 2 very young cents.
I am in business and its amazing,well the first few months or year things r THICK. You say that if you worked on it evenings and nights you make more than your gross. There is your answer.
I have seen really tough times in business but now my problem is looking for quality staff and am even opening my second biashara. It is sweet. The sweetest thing about business is the process and seeing your work paying you directly. Quit end of August and see after afew years if you were wrong,i doubt you will be.


IF YOU EVER LOSE,MAKE SURE YOU NEVER LOSE THE LESSON!!
Lyanne
#14 Posted : Thursday, August 13, 2009 1:34:00 PM
Rank: Member

Joined: 5/5/2009
Posts: 181
@ Sight

You have it all here. But what i know is that you really doubt whether you will be able to pull it off and be succesfull.

If you work in the evenings and weekends and still make more than your gross,then you are off to a better start than most of us had.

Like i said earlier,plan,save and get off to a good start.

One day you will rue for not having started earlier.

Good luck !




The Hedonist
ispoa
#15 Posted : Friday, August 14, 2009 5:36:00 AM
Rank: Member

Joined: 8/6/2009
Posts: 71
@ sight

I would encourage you all the way. key to your decision should be your motivation factor. I for one had always wanted to do it,had registered a firm but was too scared to take the plunge despite not wanting to turn up to work for someone. I would bring in all the new ideas and my former employer would keep the profits and build their profile.

Finally after a fall out with mgt - due to the slice i would get depsite bringing the pizza to the table,with a six month old baby,other expenses and trying to stay afloat i decided to go it alone and ignore offers that were even better. That has been the best decision of my career thus far. It has not been easy,I have had my fair share of challenges and its been 3.5 years since.

Remember that it is something that you should be in for the long haul,not a 'get rich quick' situation,be dedicated,and prepared to sacrifice quite a bit.

Success should,no WILL follow there after.
Pablo
#16 Posted : Monday, August 17, 2009 9:11:00 AM
Rank: Member

Joined: 3/17/2008
Posts: 567
Location: Nairobi


Just one thot. I dont believe you must have your spouses blessings to make the jump. Ofcourse mention it to them. I know situations where some wife's took off cause mzee has decided to quit job only to be back after a month or so. I also think that for women their husbands could also be a blocking factor to taking the plunge.

How come alot of business success stories start after someone was retrenched??


Want to be a millionaire.... plant a million cabbages and sell them at a bob...
Poggie
#17 Posted : Monday, August 17, 2009 10:37:00 AM
Rank: Member

Joined: 10/27/2008
Posts: 94
Ok,I could not resist the urge to contribute but here is my 2 cents. Having flipped through the turns & twists and experienced the near death sensation of losing a well paying job to learning to stand on my own two feet,I must say this. You will have to de-school yourself! All that mumbo jumbo your parents paid through their noses in the name of education is a load of crap and will probably be your biggest impediment to your success. Learn new tactics e.g identifying problems as opposed to solving problems. Shed your old skin and grow a croc's hide,you will look ugly but you will need it. And mainly,you will realise that it's never being about the money but a lot of other factors play their role. Then like a child,take pleasure in learning and playing in the mud. I could go on and on,but the key is to see yourself in this new light that's when you will attract the blessings that are abundantly around us. Good luck.

As a man thinketh so is he
As A Man Thinketh So is He
kivairu
#18 Posted : Monday, August 17, 2009 11:38:00 AM
Rank: Member

Joined: 3/5/2008
Posts: 532
Location: Nairobi
Hi sight glad that yours is doing well.i took a chance once and horribly burnt my fingures...had to go back to employment.My problem lay with the dude i hired to run the show,gave him all he needed and as an incentive i promised him a %shareholding if he worked well and made it a viable business.The dude went on on a money misappropriating orgy so much such that the whole thing came crushing down in the first 5months.i was sooo broke at the time.So much in debt.Desperate,i had to take up employment.i'm still smarting from the ordeal 6 months later still paying debts.But i wanna go back,this time more wiser.One quick question....what business is this that's working pretty so well for you?

Fear not says the Lord

Strive not to be a success, but rather to be of value. –Albert Einstein.
mtaalam
#19 Posted : Tuesday, August 18, 2009 9:59:00 AM
Rank: Member

Joined: 11/2/2006
Posts: 519
Are you serious? You can project 3-5yrs guaranteed business! You should,without a doubt go out into business. If you are guaranteed equivalent of your gross in business in less than a month then you'll have more days to increase your client base and income. Go for it.
Btw what's your profession? I'm quite curious.

ili iwe funzo...
Kwanini
#20 Posted : Tuesday, February 07, 2012 12:37:28 PM
Rank: Member

Joined: 1/28/2009
Posts: 353
Location: Cloud
@sight, what pray, became of thee,if ask i may?
"For i am the master and the captain of my fate"
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