Would you take a job paying over $100k or your business?

**exstatic** · 07-17-2008 03:01 AM

OK guys, need some advice.

I have been working as an IT consultant while building my businesses after hours for the past year or two.

This has been great, I have been able to steadily grow the businesses to a level I feel comfortable with, using money I have been earning as a consultant.

Now I have reached that dreaded cross road, the IT Consulting contract is being renewed and I have to make a decision whether to take on a new role in that job, or take my business seriously.

The new role that is being offered is paying over 100k per year with bonuses, but will be demanding and wont allow me to run the business after hours as I have been.

So I have a decision to make, do I take the role that guarantees me 100k per year and all the benefits of being reasonably secure.. or do I throw that in, really give my business a kick and see where it takes me?

I also have personal circumstances pending, such as starting a family, getting married and buying a house over the next 2 years.. so I need to take that into consideration with my decision.

What would you guys do if you were in this position?

**1entrepreneur** · 07-17-2008 03:30 AM

Originally Posted by exstatic

I also have personal circumstances pending, such as starting a family, getting married and buying a house over the next 2 years.. so I need to take that into consideration with my decision.

From the above points, I would take the job.

**Aletheides** · 07-17-2008 03:43 AM

I agree with 1entrepreneur.

But how much are you earning with your business?

Even if I was making half of that with my own business, I would choose my business over a job any day.

**Nigami Enterprise** · 07-17-2008 05:26 AM

Well if your not going to do it now while you don't have a family ect, will you ever do it??

**Mega B** · 07-17-2008 06:52 AM

Tough call that one but i took the 2nd option and i work for myself and have never looked back,if i failed at least i could say i tried it and gave it my best shot.

**pboychuk** · 07-17-2008 07:15 AM

Business. take the risk, be financially free.

**posylane** · 07-17-2008 10:55 AM

I am doing both. I work a good day job and it funds the business that my wife runs.

**Lambo** · 07-17-2008 12:14 PM

100K is nothing in the long run

**jmsb** · 07-17-2008 12:38 PM

Get the job. Live conservatively for 2 years. Saving every single penny that you can. And only spending what you absolutely need to spend on (no eating out, no extravagant clothes, pricey gadets) basically dont reward your self for anything until the end. You can EASILY live on half of that salary. If you try hard enough you can even live on 40k. And you mentioned that you arent maried yet so supporting yourself would make it easier. By the end of the two years you would have about 100-120k in cold hard cash. Then quit your job, and use it to expand you business. Plus you will have some money to run on even when you have certain months in the beginning that are unstable. You should always have something to fall back on when taking risks like these.

**rogercbryan** · 07-17-2008 01:16 PM

You can't have an equation with out all the variables...

Everyones OPINIONS mean nothing because we have not seen the financials for your company. We do not know the growth potential, income streams, or capitalization.

These are the things you need to consider

**CIsaac** · 07-17-2008 04:50 PM

Tough one to figure out. Only you can. All I can say is that I was in a similar position to yours (about 20k less) and I chose my business. I was sick for a couple of days thinking about it but NO regrets since then! I was planning a wedding then and getting a house. You wanna know the sick part? Both me and my husband (fiancee at the time) were starting our businesses together. Our family thought we were nuts! I kept thinking to myself, I'm young what do I have to lose except make a mistake?

If you feel like your loss is TOO great, don't do it. But we're not in your shoes and everyone's different. You have to figure out your gut feeling.

**george_consultant** · 07-18-2008 10:26 AM

Well, i don't really know how to start, but you're damn in luck to have what most people dream of all their life. My advice will be that you should ask yourself if you're comfortable with giving up or not, after all the fun of it all is to do something you enjoy doing. Tata

**Jay Brass** · 07-18-2008 02:45 PM

How much do your entrepreneurial ventures pay? Are they enough to pay for insurance for your family and all of that stuff?

**kat** · 07-18-2008 04:17 PM

Only you can make the decision. But, I do have to agree with jmsb. He makes a very good point, and that idea could take you very far.

Nice advice jmsb.

**srivijaya** · 07-18-2008 04:54 PM

Hi,

Some members have raised some important questions, which I too think you should ask yourself ( what are your streams of income, growth potential, etc.). JMSB's suggestion is more practical in my opinnion. It is good to build castles on firm ground.

However, what I think as more important is that, how evolved are you as a person to be an entrepreneur. Only you can decide that. Can you put the interests of your business/company ahead of yours? Why do you want to do business?

Another aspect to look at is your business model. Is it self employed or do you own a system? Think on those lines.

One more thing, if you have been only a couple of years in business and your business has accumulated some cash reserves ( as it appears), can you leave the money with the business and work on it, or would you rather take money out and go for a house purchase at this moment. In the first few years of business, taking the cash out for personal needs, would mean undermining company's growth. You can't have the cake and eat it. So can you do that?

Good Luck with your decision.

Srivijaya