Try this, buy some stuff, sell it on ebay, spend 8 hours after work each day and 8-12 hours on saturday maybe throw in a sunday every couple weeks too. If after 6 months you are making atleast $150 a week, quit and start working it full time, AKA 16+ hours a day 6 or 7 days a week. Yea self employed isnt fun and games. Not only do you have to worry about bills and when to pay them but how to pay them too. Where is that money going to come from. What if you cant find anything to sell and the bank wants thier money? Or ISP and/or electric Co. wants thiers. With out internet or electricity you cant work.

 

Thats exactly what its like (though I think PSS knows alot more about it personally). I havent done it myself but some of my courses involve small business, specifically e-business. And unless you have every little detail worked out before you start you are gonna be screwed. You have to plan for almost anything that can happen. What are you gonna do with stuff you cant sell?

Just someting on the side to make a few extra bucks is simple enough, but if your gonna depend on this to pay the bills you should really sit down and think EVERYTHING over, not just what you are gonna do but how you are gonna do it.

 

I hate to sound negative but I think he is doomed to failure based on what is being said so far.

Like others have said there needs to be a strong thought out plan with contingency plans and extra money said aside for the problems.

Based on what's here I would highly recommend a traditional job.

 

I think there are some things you need to think about and some good suggestions have already been made. Keep your current job and try selling stuff on Ebay in your extra time. This will let you see some of the pitfalls and areas you did not anticipate and see if it is something you really want to do as a living and can make money doing it.

If you do that, make some money, and decide you like doing it. Go talk to an accountant. Not HR block or anyone like that, but a good accountant. You need to make some preparations and get things in order. With planning and good records keeping you will be able to keep your taxes to a minimum or nothing (assuming you have no employees other than yourself).

Don't get discouraged too quickly, it took me 3 years to bring in more than I was spending and even though I am making a profit right now, I have over 1.5 million in outstanding debts, which is why I say you MUST like what you do, because you can't just quit. If I'd just quit, I'd be up s**t creek.

Just take your time, and think about all of it. When you think you've thought of it all, take some more time. Good luck either way.

 

I am tired of working for some jerk off every day as well, but I have to pay the bills. I have a wife and 5 kids that depend on my sole income. I will one day be my own boss. I have taken a hobby and turned it into a part time gig.

I started out in photography as a way to release artistic energy. People found out that I had an "expensive camera" and started asking me to do some portraits and such. I started out doing them for free to build my portrait skills. I would tell these people that there is no word to anyone about the free price. Word started to spread and more people started to call. I used to pick and choose what I shot when I was using film cameras, because of the cost involved if I wasn't happy with the results. The last couple of years I would do a half dozen weddings, a handfull of senior portraits. This past March I made the jump to digital. I did about the same work load while I was learning the new digital tools. This year I plan to take on everything I can fit in my schedule. In two weeks I am doing my first "BIG" shoot for a clothing store catalog. I told the owner I would do this one at a reasonably low price if he hooked me up with some nice duds (black people have style I tell you).

If things go well this summer I will open a studio in town to work out of so I have some street exposure. This studio will make no money for at least two years while I build a client base, and exposure. After two years if things go as planned I will turn my current employmeny into a part time job, and start hitting the photography thing hard.

When the studio starts turning a net profit of $50,000 I will quit my job and go full time. I see this as being no problem at all since there are only two studios in my immediate area and one of them doesn't shoot weddings. I could probably quit my job tomorrow and survive, but that is not a chance I am willing to take. I will take it slow and make sure each step has evolved enough to take the next.

Here is the real shocker. I started taking this hobby to profession in 2001. Thats right....6 years I have been working on this. I could have jumpped in and probably survived but it is nice to know that my family is fed and has a roof over their head.

 

someone believes in me

 

mine is a 2001 i got it last year for $9600. my house is only 1300 sq foot. paid $80,000 for it

 

Having started 2 failed businesses in the past I can say this for sure...You had better believe in yourself. That will matter much more than anyone else's belief in you.

If this is something you are going to attempt, then go for it but I would suggest you take the advice that someone posted before. Start out part time and see where that takes you.

Good luck

 

I've got more failed businesses in my portfolio than one would care to read. I'd hate to add up the lost $$$,$$$,$$$'s.

I'll work one hard for 2-3 years, ussually I know with in the first year, First if I like it enough to keep working it long enough to make it profitable to someone so I can sell it. Or two if it is going to make anything in 5 years. By the end of the third year I look at it and make the decision to flush it or keep going, Also at that time if I decide to keep going then I decide if I am going to keep it or sell it.

One piece of advise I can give to new start ups, do not invest more than you are willing to lose.

Example for the ebay sales, lets say you found this great color laser printer, easily a $1000 printer on the used market and you can get it for $300. Sweet deal right? Not if that $300 is your weeks pay check. It may not move as fast as you thought it would, you may sit on it for a couple of months, then have to sell it for $500. So you lost a weeks worth of pay to gain 2/3 a weeks pay in 2 months. You could have bought 3 itmes for $100 each, sold 2 for $50 profit, bought 3 more for $100 each and sold them, etc etc etc etc.... for 2 months. SO in reality you lost out on the opportunity to make $4,000+ in 2 months (or $500 a week) by buying that good deal of a printer......

 

i think that is what im going to do

 

Seems like the most important theme her is: Make sure you believe in yourself, and make sure you like what you are doing.

You will get to the point of "holy *******, I'm never going to be able to do this" and if either of the preceeding two aren't true, you will fail.

Like I said before, good luck, and let us know how it goes.

 

i will

 

Looks like you could make a few bucks PRESSURE WASHING your neighbors house