Let's Talk Business
Abstract: Dilly dallying sucks. Make a decision and go with it. Right or wrong.
Earlier today Matt Linderman wrote this (full blog entry) on the 37signals.com blog. Basically he wrote about keeping your day job while you start something on the side and to let it naturally evolve organically.
Undoubtedly this is a smart move when taking into account cash flow considerations. If your day job is allowing you “X” amount of dollars every two weeks which equates to “Y” dollars an hour, then in order for you to quit your day job you better have two different things. 1.) Your side job pays more per hour than your day job does and 2.) you better be working the same if not more hours than your day job.
This would be the smartest move when considering cash flow.
Well what about investment?
Well, NOW, you are operating as a business owner and entrepreneur. The previous example, you are still thinking with an employee mentality saying to yourself, “well I want to be paid what I am worth.”
Let’s consider the entrepreneur route.
A couple of basic considerations: 1.) Due diligence has been done on your competition, niche, and target market. 2.) You have a thorough marketing plan that you believe will bring you returns. 3.) You have some business capital to take you through your initial start-up phase.
If I were to go right now and tell my boss, “Hey you suck as a boss!” and just got up and left (a move reminscent of the movie WANTED with Angelina Jolie), well then now I’m up a creek without a paddle. This is not a smart move.
However, if I were to quit my job after taking into account the basic considerations, then I would have a paddle … notice however I am still going upstream. This I feel is a better than sitting at your job, uninspired, while you day dream of the day you get out of there. My suggestion is quit. However, quit with a plan in place. If you haven’t done that yet, then you are taking a look solely at a hobby. People make money from their hobbies all the time, but if you want your hobby to be a bread winner, then you need to create a business … a business with structure. That is a whole new conversation, but one that is solved by the book The E-Myth Revisited by Micheal Gerber.
Posted by Dan Doromal
June 25th, 2009 in Let's Talk Business

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Great post!