Am I Thinking Correctly

swathiudhay · Mar 9, 2017

Dear Members,

My professional life is full of love and hate relationship. To be precise i just cant be in a job for more than 1 year. I hate once it become sedantry. I am good at my job hence it becomes difficult for the employer also for me to quit. Now again in my present company i have settled in my job, i have option to work WFH when cant be at work, My boss has openly told me i am good at my job(In all the jobs they have told). Now i am not satisfied with my work and i also i dont want to quit. Basically i need a good kick in my job...something motivating for me to do...I have motivated myself most of the times...
Apart from my job i have a small business which i do and i love it and i am doing it from past 2.7 years which is the longest. I have tried understanding things. I cant work under others. Cant take orders and i am not open to people scolding me even when my work is 100% good. I love doing things my way. Basically i have business in my blood ...no one works in my family or extended family...I have a strong pull towards business and is kind of passion and get a kick when ever i achieve things in a business...
I have an idea which i proposed to my hubby we searched over to find anyone else doing it and only 1 of its kind which is available and its far from my area and i want to implement it.
My hubby says give me a business plan we will work towards it. Now Funding will be the main issues dont know where to go and ask for a loan.

My question is :
do you people think i need to start working on my Biz Plans? Should i take it forward?
I am unhappy coming to work everyday, i miss my daughter a lot. Many a times when she is not feeling well my mom has taken care and i have gone in between to check on her occasionally. It pains that i cant be with her and i hate it.
Also taught i should try my hands on working as a teacher as i am good at it and i get a kick when ever the student achieve things. I have taken tuitions but never taught at a school.
Also our financial condition is not good now hence little skeptical about starting the biz as a question what will happen if i lose..

Please guide. I am open to critics and i will not judge anyone wrongly.

guesshoo · Mar 9, 2017

Since you say your financial situation is not good, it is highly recommended that you stick to your job right now. You could throw everything you have at your business but you can't predict how soon it will take off and give you sufficient return.

It wouldbe wise to wait until you and your husband have substantial savings put away for emergencies first before investing heavily in your business.

I've seen a couple with a little child succeed in business but is wasn't easy. The wife kept her day job and the husband slogged for the business, which the wife would work for too after her day job. When money got really tight and the husband would take up a short term contract to ease the stress too. Then when the business started showing returns they sold some shares to a set of friends to raise more money and expand. It was a maddening and stressful 5/ 6 years - to ramp up to the demand, make sure their child had a reasonable life etc. Plus they didn't have parental support either because both sets of parents thought they were crazy to having left lucrative jobs to be entrepreneurs. There was back stabbing by a friend who had invested which they had to deal with legally spending money they didn't have. Now they are reaping more benefits but they still slog a great deal.

You need to figure out how much of risk you and your family and are willing to take.

yellowmango · Mar 9, 2017

Work and save while continuing with doing the preparation for going into business.
Learn and study the business field thoroughly .Make plans,work on possible bumps and solutions for the bumps while you are saving / working on the finances.
Check out loan options .

SGBV · Mar 10, 2017

Having a business blood is an asset. However, given the not-so-great financial conditions at home, i would advice you to continue with your job for a while, until you save up something for the dark times before you actually quit it for the business.
In the mean time, you can get some loan based on your BP and use your job as a security for the loan. Even you can re-pay the loan using your salary, while concentrating the growth of the business.
There are ample business suits for part time.
Establish a suitable business, perhaps you may take a few days off from work to install the basic business establishments.
Find a reliable person to run the business on behalf of you, while you are busy at work. Concentrate the business matters after office hrs, and during weekends. This is sure an extra burden and kills most of your free time in the beginning.
But once it is established, you will have an easy run...

Once your business is really established, you may leave your job to focus more in the business matters.