Thoughts on a new business

[rrjnsy89]

Hey, I have right now run into a bit of a problem I’m not sure how to solve, or if it’s just a matter of discipline. Not long ago I started working fixing computers for acquaintances, all kinds of repairs, partly for fun and partly because it was some additional cash coming in.
Now I have plans to make a living out of it, I’ve come a long way and have many resources related to my work (programs mostly), now I’m seeing that I can’t get the time to optimize my work because I harldy sleep, I keep a part time job to help my finances and I’m studying right now.
What I don’t know is how to know when I can ditch the part time job and dedicate to my own stuff, it’s a scary thought to depend on something not so sure. The reason I would do it is I have very little time to dedicate to it.
Any opinions on this, I’d really appreciate it.

[Carole]

I would suggest that you start small and ease into your business. You can put your plans in writing and think about all things that running a business entails. You can inform yourself as well. I wouldn't give up the PT work until you are making a fair amount of money in your business. Its also really important to look after yourself and to find out the best way to get more sleep in particular.
All the best with this.

[LeelaCosgrove]

If you can't deal with the uncertainty of not knowing where your next meal is coming from, don't go into business - it's not for you.

No matter how much you build up your business before you go full time, chances are you'll have lean periods ... times when you don't know where the next job is going to come from or if you'll be able to make rent (or mortgage) payments.

If that's not something you can take in your stride (few people can - it's why entrepreneurs are different to employees), you should seriously reevaluate your plans for business.

Business is always risky ... in the early days, there's rarely stability (that gets a bit better as time goes on, but there is never any guarantee), it's hard work and requires a lot of commitment required ... if you're not sure you want to do it or that you can handle it, you may be better off focusing on your studies and getting a job and having a 'hobby' business that makes you a bit of money on the side.

[Burgo]

When in doubt stay out, keep doing what you love doing, then when you have finished your studies re think re assess and look at all the alternatives so that you will make an informed decission.

[rrjnsy89]

Well I have to say I really appreciate your comments on this, I’m afraid I may have let you believe my situation was worse tan it really is, I’m not that short on cash right now, I just sort of need a staedy income (I just adopted a pretty big dog) and so I guess I’ll do as Leela said, take it as a hobby for now, thanks a lot.

[Publishing428]

Hi,

If you can, maybe save some cash, say 6 months' salary so that you can ditch the part-time job for a while and spend more time on your business.

It would be a shame to let go of your dream and all of your hard work - it sounds like you have built up a good foundation for your business to grow from.

Good Luck

Jayde