Knowing when it time to go full time

[Garrett Davis]

Like many in this business I have started out doing side work. Luckily I had a boss at one time that explained a lot of the buisness side to me. Not at the point I am making as good of money or better in my home shop as I do at my full time job. Right now I am feeling the physical and mental pain of basically working 2plus full time jobs. At what point do you consider yourself successful enough to quit your day job and go fulltime?

 

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[PAPShop]

http://www.amazon.com/Quitter-Closing-Between-Your-Dream/dp/0982986270

 

This book will give you some insight, Quitter by Jon Acuff.

Edited March 2, 2016 by PAPShop

[John Pearson]

When you are fired from your day job for piss poor performance because you are to busy in the evenings with your side work. Its amazing how fast your side work can get caught up once you are doing it full time.

[xrac]

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[JamisonAutoGroup]

Actually, I am in the same position myself, working full time as an operations Manager. My salary is 50K, cost of living fairly low. With that being said, I have contemplated the timing as well. My conclusion is that it is almost impossible to save enough money to support your family for the 1st 3 months or so, and I say this knowing that we all have full intentions of having more work than we can handle. This is a tricky business, full of ups and downs. If you could find a way to squirrel back at least 5k to act as a safety net, then I say quit your job and go ahead.

 

GOOD LUCK!

 

Jamie

[HarrytheCarGeek]

When you are fired from your day job for piss poor performance because you are to busy in the evenings with your side work. Its amazing how fast your side work can get caught up once you are doing it full time.

 

What he said.

[HarrytheCarGeek]

........... glitch

Edited March 3, 2016 by HarrytheCarGeek

[mmotley]

Go for it now. If you wait for the perfect time, you'll never do it.

[Handson]

Be prepared. We ate at the food bank when we started. We moved into the shop with our 3 month old in the beggining. Make sure your wife is ok with losing the house and moving into the garage. Or better yet. Go to your local score office and write a business plan. Then you can do it better then i did. Then it goes from your ready when you have 5k saved and quit before your fired to your ready when the bank hands you your start up money.

 

Not saying you cant do it like we did. Or maybe you can do it better and faster then we did. Just sying there is a better way then many of us may have done.

Edited March 5, 2016 by Handson

[xrac]

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[Milton Marentette]

Listen to Handson.

[Jeff]

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[JamisonAutoGroup]

I took the advice, and read the book "Quitter" by Jon Acuff. I highly recommend this book to anyone thinking of starting any kind of business. In addition, I also recommend reading the book "How rich people think" by Steve Seibold. It is also a game changer. Yesterday was my last day with my company. I worked as an Operations Manager for 9 years, and they decided to relocate the Branch to New Orleans. Thank God we were offered a severance package, or we would be screwed. So wish me luck, cause ready or not, here we go!

[TheTrustedMechanic]

Understand that being able to manage a business is more important than being able to fix cars. Read the Emyth before you start at least then you may have some understanding of the challenge.

I got The Emyth on audiobook so i could listen to it during my 35 minute rural road drive home. I made it a point to listen to the book 3 times through just to make sure I didn't miss something important. I could have never listened to the book and still not have missed anything important. I don't know everything and I don't know a lot of stuff I should know. But I do know this, my impression of the book is that it is way overblown. If you want to buy a franchise, then good, get the book. Because that's all it was about, build your business so you can franchise it. There were only vague references to concepts and simple platitudes in the book. Similar to "Selling the Invisible" except in selling he often contradicted himself. The Emyth certainly was NOT for a small operation, anywhere or in any industry.