Given the state of the economy would you leave your job for your own business?

[silentbob]

Discuss.

I need a push.

I'll give you a push.  Paint my damn tank and I'll give you money.

[55Spy]

depends..... on the job your leaving, the business you want to start, and your liquid income, and your required $ to sustain your desired level of living, yes the economy plays a role bt that depends on the job left and the one starting.  Right now I would not start a restauraunt, a hotel, or open a gas station. 

With the info you stated it's like making the following post.

Should I dump my girlfriend and start dating another girl?

depends...on a alot of variables.

[Ohmic]

This is a fundamental question we all ask our selves in our career from time to time. Rest asure you are not alone.

If you have a strong passion for what you do, then it don't matter what the industry is or its state. With the backing of your family and friends, by all means go for it and don't look back. Life is shorter then we all think. You don't want to look back tomorrow and be doing the would-have should-hove bit in your head until you're dead. Go for it!  Besides... you can ALWAYS... ALWAYS...  go back to the safe salary job if you fail. Remember failure is form of learning and growth. It is nothing to be scared of.

I was faced with the same questions 2 years ago. I just got worn-out working for the MAN day in day out. Him telling me when, what, why, how to work. He made million$ off off my designs while i was paid ONLY once. Anyway... back to the topic. I ended up jumping ship from a very secure 6 figure salary to start my own business which i won't go into details. Like others have already stated, today I too work much longer hours for the same or less money. Less money is short term. The business will grow. What really matters is that you get much more personal FREEDOM. To me this freedom boiled down to starting and finishing other personal projects I had always wanted to do. One of which deals with our beloved Monster and has brought me some additional income. You could say i enjoy my life more today coz i'm doing what i love at my own pace.

Today....
I don't have a BOSS!  This alone is priceless.
I choose my own hours.
I choose the jobs. I even turn down jobs i don't want deal with regardless of the money.

[red baron]

I'll give you a push.  Paint my damn tank and I'll give you money.

[ducpainter]

on second thought....

stay right where you are.

How am I going to get my fix?

[DRKWNG]

I started my own business, but as a personal trainer, its easy to do, and cheap!  I now work 2 to 3 hours a day for 4 days a week.  However, I would like more clients, anybody?
A

My wife and I will hire you, but with one catch.  You have to move to Hawaii. 

[Popeye the Sailor]

Start small if you can.


Rent an area, get your equipment. Do it on the side for people who know you're doing it on the side. Build up a reputation and clientèle. Easssse out of where you're at, but I think you need out. You travel too much and work too hard for whatever they pay you.

That and I have no less than three automobiles that I've wanted you to paint for some time.


You already *have*customers lined up. That should tell you something.

[PizzaMonster]

Start small if you can..........

......You already *have*customers lined up. That should tell you something.

Is it a full time body & paint shop you want to start?  If that's your passion then GO FOR IT!

The nice thing about that type of business is you can let it grow at your own pace.  You can be a one man shop or you could have 100,000 square feet of service area in 10 years. 

I suppose one or two guys working together could do just fine doing repaints and custom work.  That kind of work could be really rewarding.  How big is your market and what do you want to specialize in?  On the otherhand, if you want to get bigger in a small market you will have to get into collision work.  That means more money invested, more employees, labor and environmental laws, dealing with cheap insurance companies.  But the nice thing is that you get to decide which way you go.

Oh.  And if it isn't a body shop you wanted to start...Just ignore this babbling idiot

[red baron]

Painting it is, but much more than bikes or cars. Think refrigerators, tables, anything that does not move long enough to be painted.

[rgramjet]

Start small if you can.


Rent an area, get your equipment. Do it on the side for people who know you're doing it on the side. Build up a reputation and clientèle. Easssse out of where you're at, but I think you need out. You travel too much and work too hard for whatever they pay you.

That and I have no less than three automobiles that I've wanted you to paint for some time.


You already *have*customers lined up. That should tell you something.

+1  Collecting a paycheck and doing side work will help you to "tool up".  I started a cabinet business just over 2 years ago, I can tell you, yer spinning wheels without the right equipment.  Also, go for as long as possible without employees.

Good Luck!!!

[Popeye the Sailor]

Painting it is, but much more than bikes or cars. Think refrigerators, tables, anything that does not move long enough to be painted.

The dogs are lazy here. Think you can put some racing stripes on 'em?

[red baron]

The dogs are lazy here. Think you can put some racing stripes on 'em?

Who's gonna protect me from your lady, and when she's done mine?

[Drunken Monkey]

I read somewhere that more successful businesses are started in "bad" times than good...

Make sure you have a good amount of savings, try doing it part-time while you collect a salary, and be realistic about what you expect to achieve (i.e. ramp us as needed)

BTW: The bit about a "steady job" being more reliable is so much BS. Modern companies tend to toss folks aside the moment things look rough.

I say go for it!

[MotoCreations]

I need a push.

Like I tell everyone -- it is always better to try (and possibly fail) then to have never tried at all.  Even if you fail, you always learn an incredible amount about yourself and your business skills.  And if you succeed with your biz -- your imagination is the only limit to what you can do.

Things to think about in creating a business:  Is it scaleable? (how do you grow it bigger)  Are you required to do everything?  If the biz does become successful -- is it setup so you can take time away from it for a vacation or break or medical emergency?  Do you have enough money in your pocket to float through "lean times"?  How are you going to drive customers to become aware of what you are doing? (and thus get business)  Are you doing something different than anyone else out there? (or are you doing a common biz and then fighting for margins?)  Any business licenses, certificates, bonds or "liability insurance" required.

One thing about biz that most people don't realize is all the overhead expenses that occur each month.  It's what kills a lot of creative business endeavours.

Also one tidbit of advice:  "work smarter -- not harder".  Anyone can do the latter part, it's the first part that actually generates recurring revenue streams.

[Speedbag]

One thing about biz that most people don't realize is all the overhead expenses that occur each month.  It's what kills a lot of creative business endeavours.

+1

Also, to elaborate on this statement, don't buy brand new vehicles or buildings for company use. Those payments will strap you big-time when you don't need them. Use a trusty older vehicle with your sign on it and revamp an older structure yourself until you're well-off enough to get something better. Try to pay cash for anything you can. It sounds hard, but it can be done.

Be ready for lean times here and there. Even so, you'll find that you still love doing your own thing.