Long story short, I currently have a 23k/year job working for FiSH. I just put in my 2 weeks notice so that I can devote 100% of my time to my business. I am not completely confident that this is a wise decision, and would like to know what you guys think. I am going to lay out my financial info so you guys can judge for yourselves…
Liquid cash: $3300
Income from FiSH: $23,000
Monthly expenses: $1300
Rent: $500
We also have two vehicles, either of which (or both) could be sold and replaced for profit, since we paid so little for them. This gives us $4500 in potential cash as well.
My commute to work is currently 45 minutes one-way, and this costs us $275-$325 per month in gas, total.
I currently have several jobs lined up paying a total of $1025 as is within the next week. Also, my wife is applying for jobs, she has gotten tired of staying at home all day, and we see this as an opportunity for her to get a part-time job as well.
Here are the options I am considering:
Stay the course. Leave my job, devote 8+ hours per day to advertising and working. Make it or break it, do or die.
Option 1 pros: allows me to devote 100% of my working hours to our business.
Option 1 cons: It’s a little scary, for obvious reasons.
Leave FiSH, find a part-time job closer to home. Use my other time to advertise the business until work builds up.
Option 2 pros: A “safer,” more “secure” option.
Option 2 cons: Any job I find will likely pay around $10/hour. Spending time working on our business may be a far more valuable way of spending the time. Definitely interested in feedback on this part.
Post-pone leaving FiSH until he end of May.
Option 3 pros: Allows us to save a little more money.
Option 3 cons: Takes valuable [prime] time away from advertising in the busy season. Makes me look like I am “wussing out.”
What do you guys think? Like I said, I am currently on track 1 but I would be willing to switch if those wiser and more experienced than me think I should. Thanks!
Lost income is just that–lost income. If you go through 3500 in savings that’s nearly 4500 in before tax money. Even more with expenses. Try to minimize lost income.
Now, here’s the plan I’d do. Apply now to some great places like 15 minutes or less from home if possible. As soon as you land one, quit your job. If possible, get a 20 hr week job–shouldn’t be too hard. Preferably not 5 days @ 4 hrs. This will keep rent paid and everyone happy and not stress you out of a new biz. Then hit it hard.
BTW, yes if no kids your wife working is really the best option. Everything above still applies.
I started my window cleaning business in January of this year. Before starting window cleaning I got a job delivering pizzas 4 evenings per week. Delivering pizzas is very good money. For me about $14.00 hour. Paid the bills leaving days open for working on marketing my window cleaning biz. I will probably make $1,000+ this week cleaning windows, but still deliver pizzas Fridays and Saturdays.
This has worked very well for me. I’m not sure when I’ll quit my pizza job because I usually make $150 to $200 weekend for working 10 to 12 hours and it is very low stress.
do this, delivering pizza at night you could easily make 1500 a month, thats almost all you seem to need, plus if your wife gets a job you should be good.
Option 1 brother! You will not regret it. This is the perfect time of year to get your own thing started. Get out an permote yourself. One of the best things I did early on was go to Realtor Associations meetings and market to them. I did that early on and now about 35% of my business is from that crowd.
The way I see it, quitting and just going for it is the way to go. It gives the best chance for you to dominate at your business, and you can always find a pizza delivery job or something like that if you really need it. Spending all that extra time and energy on a part time job might only decrease the profit from window cleaning. Hope it all goes well for you! Good luck! Just remember, at the end of the day it’s your choice not ours, and if you try your hardest you can make it work.
You and your wife - Option #1 all the way.
You both feed off of each other, help each other, learn together what can make you both invincible.
Build the business like there is no other option on the table and don’t look back - always look forward as that is where you will grow. Simply put…You can learn from yesterday but you can only grow into tomorrow.
Scary? Yea. Doable? Hell yea!
You have tons of options available to you, right now.
My question to you do you have a solid business plan in place, is your business organized, have you really research your market for potential customers ?
These are just a few things that need to be in place before you can even consider the change.
Leaving the comfort of having a constant income to a fluctuating income for the first couple years is hard.
I’m not saying its not doable, just make sure you and your spouse are prepared.
I worked for a “all purpose” (windows,carpets, PW, janitorial, stripping and waxing floors, CCU, the whole nine yards) company for 12 years, supervisor and trainer. Business sold and three months later, October 2010. I was fired. 2 days later I was buying a truck (very used) and equipment and shirts. Necessity is a Mother… but today I wish I had started 5 years earlier, but couldn’t bring myself to part with the steady paycheck.
Thank you everyone for the advice! I am going to go for it. As you said, necessity sucks, but it’s also a great motivator.
One of the reasons I’ve wanted to do this for so long is because a guy I used to watch on youtube (before he went off the rails with his philosophy) was once sent a question from a young man who needed motivation. This kid said his xbox was sucking his productive time away, and he couldn’t motivate himself to be successful. The youtuber told him to smash the xbox outside and check himself into a homeless shelter, that he would find motivation real quick.
Obviously it’s a different scenario, but the general attitude was very appealing to me, and now I am going to do the same thing.
