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Basically, I was given a choice to stay or go. If I stay then I will be expected to “pick my head up”, if I go my employer has agreed to make it an amicable split with some monetary benefits. I would tie-up the loose ends on the sites and be on my way.
I have a few sites in the works (one in particular) that have a lot of potential, but between work and everything else I have never been able to devote the time necessary to develop them properly.
I’m wondering if the situation that has recently presented itself at work is a problem or an opportunity.
I have enough funds in reserve to support myself for about 4 months without additional income, but that’s is a big gamble. On the other hand, I am young enough where I could take a hit and recover before I had any real responsibility like a wife and children.
Has anyone ever been in a situation like mine? If so, which path did you take and how’d you make out?
I had been working full time for a bank in England for just over three years and found myself in the same situation as yourself.
I packed it in. Went working as a contractor in the city in London and got 20k together, then packed that in and moved to Bangkok.
Now I'm married with two kids a successful internet business (together with a couple of friends) and a have set up my wife in her own business.
My feeling has always been "just go with it". Maybe I'm lucky but with a lot of hard work you can make just about any situation work in your favour.
Do not act any external advice, period, including comments here. Only you know whether you can weather (yes that was an awful pun-dit) drastic changes or not. But something to think about . . . .
IMO any major changes in a person's life happen for a REASON. Your degrading attitude should tell you a lot: if you're not happy, you need to change it. Your employer is forcing you to face yourself.
The entire series of conditions, your employer, your unrest, is TELLING you something. Listen to it. :-)
Over the past months my satisfaction with the job is dwindling. My employer noticed my change in attitude and confronted me.Basically, I was given a choice to stay or go. If I stay then I will be expected to “pick my head up”, if I go my employer has agreed to make it an amicable split with some monetary benefits.
Conform to that which you do not like, or take the money and run?
Syzygy
I have always followed the rule not to bet everything on one horse. So it might be a good idea to get an additional income while getting those sites running, perhaps in doing some smaller websites for other people or companies. This way you could support yourself for more than four month.
Thats how I started. Working 1/3 of my time for others, 2/3 for my own sites. Now that my own sites are making enough money I only work for myself and stopped working for others completely.
I’ve decided to take the handshake and get out. I have managed to find a few other avenues of income that will allow me to devote most of my time to my sites while still paying the bills.
It looks like I may have to cut my drinking budget quite a bit, but I suppose there may be a few hidden benefits there as well ;)
Sure, there are times to leave a job, but it shouldn't normally be a spur of the moment decision. This forum is full of examples of people who have left their jobs and began making a living off their sites, but I'm sure there are many others here who have tried it, didn't make it, got to the bottom of the barrel and went back to an 8-5 job. So think carefully - that's all I'm saying. There are times that it's simply the mature and intelligent thing to stick with a job you don't like, and this may or may not be one of those times.
No matter what you decide, I wish you all the best.
This forum is full of examples of people who have left their jobs and began making a living off their sites, but I'm sure there are many others here who have tried it, didn't make it, got to the bottom of the barrel and went back to an 8-5 job.
I am very confident in my abilities and feel that it's a calculated risk that I'm willing to take. I'd rather try and lose than not try at all. If I lose I will chalk it up to experience, swallow my pride and get another job. But man, I would sure like my office to consist of a wireless laptop.
I'd rather try and lose than not try at all.
It's a bold decision you're making - you know that anyway. Good luck in your ventures.
Syzygy
My now ex-wife and family thought I was crazy and got criticize relentessly...but I had faith. Within 3 months I was making more $ in one week than a month's salary. Within a year more in one month than a whole year's salary. 12 years later...don't have to work, the company runs itself and live a very comfortable life.
Lots of hard work and long hours in between...now I finally have time to post messages in my favorite and only forum (webmaster world).
My advice...believe in yourself, but take counsel from those that are wise...plenty of wise people in here. Calculate your risks and objectively evaluate the potential of your venture. In 1993 I had no debt and few obligations other than putting food on the table for my family...so their was little downside to my decision. Weigh your current financial situation to determine if you can take the risk of pursuing an online business. Today the failure rate for ecommerce is really high...back then when I started it was much easier to achieve success...less competition. Take that into serious consideration also.
Back in '03 I had to leave the work world to help take care of my son. Work was harsh and not flexible at all, not even permitting personal calls during break times.
My son started school in '03 and he was diagnosed with a spectrum disorder (Aspergers syndrome) and needed almost daily help at school and at home.
When the work ran out and they let people go it wasn't hard to start taking care of him.
Since then he's made great improvements and rarely needs my assistance.
I've been trying to get back into work because I need the independence. It's tiring and very humiliating to have to lean on others even if they are family. I'm grateful for family assistance of course and it's been all family assistance, but I need to be able to substantially offer and be able to give, not to have to take only.
To ease the burden on family one begins to cut back and learn to ration everything one needs, to measure literally everything in terms of money. Can I afford to buy bread or milk this week for example.
So far very few jobs appear for which I'm qualified or have any resemblance in terms of experience and education I already possess. I receive a few nibbles but no luck. "Normal" minimum wage employers have refused interest because of the education and experience, fearing that I would have to depart when a better job - suiting my education - comes along.
That's why I say all of this sounds luxurious to me, to have the resources and to be able to pick and choose when others cannot.
2. Keep your health insurance up. No health insurance = bankruptcy. Bankruptcy = damaged credit. Damaged credit = difficulty ever starting up a business. Don't ever forget this: Banks love to lend money to people who don't need money.
3. Have at least 6 months living expense available - either money in the bank or a line of credit with family. (If your family won't back you up that's a sign in many cases. Know your family.)
4. If you are unable to generate a sufficient income stream in the first 6 months, enough revenue and cash flow that you will be able to say - "With this work and the money/credit I can see me meeting my expenses for the next six months" - then you aren't getting the job done. You're falling down somewhere.
5. Marriage to the right person at the right time is always a +, someone who will help cover the bills whilst you build up a business. Of course, there may come a time for repayment so plan accordingly. Business is not a basis for marriage but a marriage that aids in business is not a bad thing. I married at 21 and my wife and I always thought it prudent to arrange a lifestyle that could be managed on 1 income. That eventually proved prescient.
6. Here is the big secret of capitalism: The unspoken rule of capitalism is "Never, NEVER pay your employees so much that they can 1) pay their bills and 2) put away enough money that they will someday be in a position to capitalize their own business and compete. ONLY pay enough to keep employees on the treadmill."
#6 is not a philosophy but is instead the observation that finally impelled me towards self-employment.
Here's the same thought expressed somewhat differently. This is the actual thought I had the day before I announced my departure:
"I can stay at this job and be broke (have no money in the bank) or I can go out on my own and be broke."
With that thought in mind the business of going out on my own didn't seem that much more risky than staying put.
It all worked out as I worked rather hard to make it work out. People that knew me to be a hard and conscientous worker were kind enough to refer me a healthy bit of work.
Your reputation is an asset, especially when you are self-employed. Always remember that.
Sure, if someone wants to be in the Mafia, they make their own fortunes....but at the cost of honesty.
But I'm talking about regular folks who struggle with paying the rent and feeding the kids.
