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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
When to quit day job and go full time into my business
I started a pet sitting business that has been VERY busy for about 3 months. I am very happy about that.
BUT, I want to MAKE SURE that the business is going to continue this way, therefore I have not quit my "day job".
Has anyone here started a business and when did you know it was time to quit you day job? Any tips/advice would be great! I am literally working 60 hours a week right now and have family helping with the business while I work my other job.
TIA
Re: When to quit day job and go full time into my business
I don't know if 3 months is enough time to give you enough knowledge of the current market to make it worth quitting a full-time day job... BUT how are you finding its profitability over the day job? Do you have benefits that you would be giving up at day job (like retirement, health care, dental, etc.)?
How much demand is there in your area for this business? Do you have all of the appropriate licenses and zoning that is required? Do you have a business license with your city / state? Do you have a developed business plan, or is this more of an "on-the-side" kind of business. Also, you have to think of things like liability insurance, etc... so you have to make sure you can afford all of the expenses of the business before you make that leap. Of course I'm assuming worst-case scenario- you may very-well have all of this in-place... but in order to make an informed decision or have someone give advice, a big picture is really beneficial and necessary.
I agree that 3 months does not seem like a long enough time. I personally think 1 year is ideal since it lets you experience the industry through all seasons (Fall, Winter, Spring and Summer).
Also, what is your savings like? if you lost all your clients tomorrow how long could you manage bills?
And what benefits does your day job give you? Be sure you are willing to part with all of them before you make a decision.
You mentioned that you have family helping you out so that you could do your day job...why not hire them so that you can continue with both and not wear yourself out.
I'm going to go in a different direction than the ladies above
Is this what you want to do with your career? Do you have someone to support your family (husband/boyfriend etc) while you get things going? Are you going to put all your effort into NOT failing...failure isn't an option for you. Then I say do it. People degrade your dream or your thoughts because they have given up on theirs.
Keep me updated if you decided to go for it. Just make sure you have all the appropriate licenses - taxing - marketing - pricing - and game plan
Ladies-Thank you all.
I have a business license, liabililty insurance, and my company name registered with my state. So, I am a legitamate business, not just putting ads on CL for part time dog walking. I have been in the business since Sept. 2010, but word spread and I have been VERY busy for 3 months. I do think I will wait and keep my other job until at least August. It is my dream, but I also know that we will have to reaaaalllly pinch our pennies if we live off DH salary (he is a teacher here in FL) if I were to quit.