Enterpreneurship or Job
Enterpreneurship or Job
(OP)
I am employed in a good company with good salary. But I had a dream which was always in my mind to start my own company. Me with my brother, we already started a firm which is going official in a week. The funds are coming from our salaries only. I want to fully commit to our own company we have started but it would be foolish to leave the present company leaving the new firm to a financial crisis. What would you suggest.?
For your info we have appointed a well experienced manager to run the company. We know that he will run the company well and it will be a success. But as owners, our commitment lies on the funds. Please help us out.
For your info we have appointed a well experienced manager to run the company. We know that he will run the company well and it will be a success. But as owners, our commitment lies on the funds. Please help us out.





RE: Enterpreneurship or Job
Do you have a year's salary saved up? Have you considered who will pay for health insurance in the mean time? What equipment, business insurance, etc. will you need for the new venture, and where is the money coming from for that? And on and on and on...
Dan - Owner
http://www.Hi-TecDesigns.com
RE: Enterpreneurship or Job
RE: Enterpreneurship or Job
If the new business succeeds, the future will take care of itself.
Have you planned for failure?
www.SlideRuleEra.net
www.VacuumTubeEra.net
RE: Enterpreneurship or Job
And you're asking if you should quit your job? Read that first sentence again.
RE: Enterpreneurship or Job
Your subject title is incorrect - you are not in an Enterpreneurship, you are in a hole.
RE: Enterpreneurship or Job
David Simpson, PE
MuleShoe Engineering
In questions of science, the authority of a thousand is not worth the humble reasoning of a single individual. Galileo Galilei, Italian Physicist
RE: Enterpreneurship or Job
TTFN
I can do absolutely anything. I'm an expert!
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RE: Enterpreneurship or Job
B+W Engineering and Design | Los Angeles Civil Engineer and Structural Engineer
http://civilengineer.la
RE: Enterpreneurship or Job
STF
RE: Enterpreneurship or Job
RE: Enterpreneurship or Job
I'll try again. When starting a business, carefully establish a realistic definition of "success". If, over time, you do not reach that goal, implement an orderly "exit strategy".
At age 26, I had the opportunity to start-up a company, and did so. After six years of full commitment, the company was no better off than when started and had no prospects of improvement. Made a carefully considered decision to call it quits and took these steps:
Immediately informed all employees or the decision. Most of them (the best) agreed to stay.
Successfully completed all existing contracts (took 6 months).
Paid off all suppliers, in full.
Liquidated all company assets.
Assisted employees in getting new jobs (on-site job fair, letters of recommendation, etc.)
Distributed proceeds from sale of assets to all company investors.
Formally (legally) filed final tax return and closed the corporation.
At age 32, I found a new job and resumed my engineering career in a totally different, but related field.
(Total time for all of the above steps: About one year)
My point is: Without a definition of "success", you may "run your company into the ground", and wind up bankrupt, deep in debt, and unemployed.
www.SlideRuleEra.net
www.VacuumTubeEra.net
RE: Enterpreneurship or Job
The converse, of course, is that some things defy rational analysis, but it's difficult to determine whether your case is one of those. When Intel developed the 4004 microcontroller, there was no obvious market for small computers, except as possibly a niche, hobbyist, market. Obviously, a drastic sea change completely altered the computer landscape, to the point where a typical house probably contains dozens of microprocessors. This is contrasted with the odd novelty where my buddy, during high school, had PDP-8 computer in his house, Up until then, computers were somewhat abstract and only remotely accessible, like the dial-up connection we could get with the city college's computer.
TTFN
I can do absolutely anything. I'm an expert!
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RE: Enterpreneurship or Job
"They both think they can get away with it."
TTFN
I can do absolutely anything. I'm an expert!
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