start up is nearly ready to go....

digiworx · 09-29-2009, 03:51 AM

so my start up is nearly ready to go, so im going to be leaving my current job in order to put 100% into my start up.
but at the moment i have roughly 300 pounds a month in bills which i am under contract on, has anyone got any ideas on how i can pay these during the first few months of my starting business ?
thanks for any advice always much appreciated

Mega B · 09-29-2009, 04:02 AM

I would give it some serious thought about walking away from a steady income and then come to the forum asking what should i do about paying the regular bills,please note this is only my opinion but what you have to look at is what happens if it does not take off as quickly as the would like it too.By the sound of it you dont have any money to fall back on if things go wrong or it takes longer than what you had hoped,what you have to remember is that we are in a recession and new start up take longer than when we are in a good financial climate.

Good luck with your new venture and hope you have made the right decision.

ACB123 · 09-29-2009, 12:42 PM

Do you have a family member or friend that would be willing to "invest" in your business for the first 3 months or so? You could promise them a return on their "investment" when you pay them back.

Driven_Magazine · 09-29-2009, 12:46 PM

Walking away from a steady income is not always a good idea. If you have no operating capital for the start-up, then you need to continue working, until you have saved enough to effectively run your business.

Driven Magazine

digiworx · 09-29-2009, 07:00 PM

just been going over my p60's and have 1500 to claim back so that should cover everything for the first few month s

hitboxnow · 10-01-2009, 09:02 PM

Trust me! Don't walk away from the steady income. I learned the hard way.

krshna · 10-02-2009, 01:18 AM

a steady income keeps you from worrying about yourself and makes sure you've only got your start up to worry about. Don't jump the gun!

Why don't you start up first, and see how things work out? See if you're able to manage your time effectively and take it forward.

Beale · 10-02-2009, 07:43 AM

The Answer My Friend , Is Blowin In The Wind lol

ChrisBenjamin · 10-05-2009, 05:31 PM

Agreed, don't leave the full time gig until you 110% have to. Or get funding that'll ride you through 6-12 months.

karateguy · 10-05-2009, 08:50 PM

Pump your brakes.. keep your job, then build your business.. If everything goes well, it will work itself out..

allrelative · 10-07-2009, 12:54 AM

What are you about to venture in that will make you leave your job?

Mike84 · 10-12-2009, 01:45 PM

yeah I did that before and it didn't work out too good... best thing to do is to keep working your 9-5 and do your venture as a part-time deal until it's big enough to where you can start to focus more on your own business.

LSnyder · 10-12-2009, 01:58 PM

You have some good, sound advice here. Many business fail in their infancy (usually the first year). It's great that you want to put 100 % into your new venture, but be realistic and put that effort in on a part time basis. When your business takes off and begins to show a profit then I would consider cutting back on your hours at your job or quitting all together.
MegaB and the others are right, we are in a recession and you are lucky to have a job as many don't and cannot afford to feed their families. If you have good business sense, you'll make it work.
Good luck to you.

Lisa

karateguy · 10-12-2009, 02:37 PM

take your time.. Its always better to keep you job, if for nothing else, a fall-back.

Voi Network · 10-13-2009, 08:31 AM

Definatley don't get rid of your only source of income, trying to start up a business with very limited funds is not easy. Work around the clock until you have income rolling in from your business. It won't happen overnight....usually 3 - 6 months on average for a website that has good content and page rankings.

Good Luck,
Jessica