Dis said:
Thanks bro. Last question, do you think the risk is worth it at this time since I just started my family. Montessori is a HUGE expense, 20k /yr, not to mention that without my yearly income it would hurt. I am not trying to get out of my job for your reasons, I actually love my job, but I would LOVE to own my business (like you do) with the opportunity to make more money that I do now.
So think I should investigate and wait until the kids are at least in kindergarten (losing that expense or at least lowering in dramatically) or ???
I don"t know, man, people need to live their own life. I signed my separation papers and took a buyout from the corporation I worked for 12 years
on the same dayI found out my wife was pregnant with our first child. It was time. Sometimes you have to have faith, and it takes faith to do that with babies that want to be fed all the time.
My only regret is that I waited until I was 35 to go this route. I have a secretary and two managers, so I come and go when I please. If I want to sit at home playing the latest MMO, I can do it. When I worked for corporations, they owned me six days a week, and if they want to call me at 2 a.m. during a weekday, they did. I never worry about getting downsized anymore, that sure is a benefit.
Sometimes I wonder if I show both sides of it. I"ve made 25k net in a month, I"ve lost 25k in a month. In such a seasonal business, and everyone thinking they can do it, if things start to get busy, 20-30 companies will pop up in the area to compete against. When everything is going great, you feel like a genius, when times get tough, you wonder why you left your job. But overall, I"d rather be doing this than working for somone else.
In contrast, my best friend (whose parents were self-employed) started a business right out of college, and has done well at it. He thinks people that work for others are morons. Its like we came from different upbringings, he was taught if you want to live well, you work for yourself. I was taught if you want to live well, you work for someone else. My parents worked for companies at the time also.
In the end, the reality is that most millionaires don"t work for other people in a corporate setting, the hard data is that outside of doctors, lawyers and athletes, the rest are self employed. If you are shrewd and tough, you can do well, if you are weak, you"ll lose it all. That"s life.
I really prefer owning my own schedule. No one tells me when to come to work, leave work, what to do at work, what meetings to go to. I decide all of that. Sink or swim, I get to march to my own beat. When I worked at the exec level for two companies, 80-90 hours a week I had things dictated to me, and would have meetings or business stuff on weekend nights and Saturdays, or have to do quick reports for the V.P. on Sunday with no warning. No thanks. To me, wealth is being able to be there for your kids, or having time to workout, etc, and not just financial. And really, until you get an established reputation, you"ll be working harder than you ever have. Most people can"t afford to start up and have a secretary and two managers, you"ll be doing it all yourself at first.
If you want my advice, take your time until you have a deal you really think you can run and make a profit at. Life is like double dutch jump roping. You have to wait for a certain time to jump into the fray, and if your rhythm is wrong, you trip and fall flat on your face. Everything in life has its rhythm and timing, just keep educating yourself, learn everything about franchising, being self-employed and learning about different companies, and then jump when its time.
