I got cold feet! 1

[COEngineeer]

Well, I started an LLC, got my business bank account, started a website and now I am in the process of getting my e&o. All of the suddent I got cold feet. I am currently still employed. I am afraid if I start my own business I wont float. I just feel very unethical to do side job while working with my current employer. Plus, it is kind of hard to handle side jobs since my office suite is a little small. People can hear other people conversations. Do you guys have any tips to get me going? If I quit the company, my wifes income is not enough to cover everything and we will be using credit card a lot! Any advice?

Never, but never question engineer's judgement

 

[COEngineeer]

Yeah guys, I threw away the idea. I am going to have an interview this wednesday and i will be doing more commercial projects if I am hired. I am so excited. I am so ready to leave residential behind.

Never, but never question engineer's judgement

 

[ElectroMechShark]

If you want to do it, do it.

Don't worry about the rest you will find a way.

You only have one life to live. So live it now.

Paul Jager

 

[DonPhillips]

Keep the company active, on paper anyway, and when the right opportunity comes along, you will be ready. I did that from 2002 until 2006 and was able to jump in with both feet when the time was right. I already had the proper licenses, software, etc. and was ready to go.

The biggest change for me was payroll. Instead of an LLC, I went s-corp, so I have to pay myself a salary. But profits I do not pay self-employment taxes on, which saves me like 15% in social security.

And for $100 a year, Quickbooks made payroll not only easy, but it does direct deposit and everything. Very slick - but I digress.

Don Phillips

http://worthingtonengineering.com

 

[GonzaloEE]

In any case, expand your network of contacts and clients. That's fairly easy to do even being an employee, and will always help you. Of course that will boost-up your business, or will make the transition time to start again shorter, in case things go bad and you need to find a desk job.

Good luck!