Would you start your own business

**disneysteve** · 10-23-2009, 02:06 PM

Personally, no. I'm not that big of a risk-taker. I'd be more the type to start a side business and build it up over time and not quit my "day" job until I was sure I could pay the bills from the new venture.

**MonkeyMama** · 10-23-2009, 02:49 PM

Nope - because I have no desire to start my own business.

If I wanted to, I'd start slowly as Steve suggests.

**graceful** · 10-23-2009, 02:57 PM

Not me. More power to those that do!

My parents are entrepreneurs like that. Well my Dad is and my Mom and I just get sucked into the ride. The rewards are great but so is the pressure and worry.

I prefer less insecurity being able to sleep soundly at night.

**maat55** · 10-23-2009, 03:20 PM

Originally posted by Radiance View Post

If you were debt free and have 1 year salary in the bank, not back bones, regular spending.
Would you quit and start your own business?

I would and did start my own business by doing it part time on the side before going full time.

**GREENBACK** · 10-23-2009, 03:28 PM

I'd only actually quit if I had a much in demand skillset that would allow fairly quick entry back into the workforce if my buisness venture failed as most do.

Most folks don't have the this especially in this economy.

**karenkc** · 10-23-2009, 05:30 PM

Yes, but I would build it up on the side like Disneysteve recommended. I would definitely rather be an entrepreneur than an employee.

**wincrasher** · 10-24-2009, 05:34 AM

I think it depends on what your business is and how familiar you are with it.

If it's something outside what you normally do, then on the side and slowly build is a good strategy.

My business is what I was normally doing every day - but for someone else. I discovered that I could do it for myself and make more money - so I jumped in with both feet. I just updated my PO for $700k for 24 months of work.

**EconoMutt** · 10-24-2009, 05:36 AM

I would start a business on the side. If things go well, then quit your job if you like. This is a very tough climate for small business.

**cantretire** · 10-25-2009, 08:20 PM

I'm dying to start my own business. I don't have a job right now to quit,

, but I hope to start my business part-time in about 3 years, then build it into a HUGE empire, LOL!

**kenyantykoon** · 10-26-2009, 03:15 AM

I have started my own business because the rare circumstances that you have mentioned to some extent apply to me(debt free, no commitments, some cash to invest, great ideas, motivation etc). this is a great opportunity that may change that course of my life and i will not let it go to waste and the when i am old and grey become bitter because i didn't have the guts to follow my dreams when at a certain point in my life all of the world wanted to help me achieve them. i will not stop until i get what is rightfully mine

**Radiance** · 10-28-2009, 08:30 AM

i will not let it go to waste and the when i am old and grey become bitter because i didn't have the guts to follow my dreams when at a certain point in my life all of the world wanted to help me achieve them.

This is more or less part of the equation for me.
I feel I can do a little of both, keep my day job, but work frenetically to make the switch, ASAP.

I am a low risk taker, but I am also building the life I want, now, not later, not when, now!!

I have a plan and I am following it with as much bravery as I dare.

**Scanner** · 10-28-2009, 08:37 AM

Risk is relative.

Who is in more of riskier situation now?

A small business owner of let's say a car shop or an auto employee in Detroit or a financial specialist in securities in New York City?

**Radiance** · 10-28-2009, 08:40 AM

True, but you are talking about an established car shop owner...
I believe the "risk" here is the switch, the "what ifs" the "how do you bounce back if" etc.

**Broken Arrow** · 10-28-2009, 08:41 AM

I don't have the stones to go for broke into a single startup business... even though I've already tried that once.

However, I'd like to think I'm already in the business of owning other businesses.

Sort of the Warren Buffett approach of being a holdings company, except I hold stocks and other assets instead. In other words, when it comes to stock trading, I prefer to use a business-owner perspective rather than a true stock-trading one. But that's just me.

Would you start your own business