Comments on: Your Take: Do You Know How To Fly?

By: The Financial Blogger

The Financial Blogger — Tue, 26 Jan 2010 16:32:17 +0000

you got that right CC!

working on the side is the best way to make it happen… well it seems!

By: CC

CC — Tue, 26 Jan 2010 14:31:52 +0000

Great post mike

I think about this all day LONG. I am currently working 5 days a week, but work anywhere from 25 hours to 40 hours a week. Very flexible schedule.

To sum it up, I work full-time on my job and part-time on my fortune When I make enough money on the side, I won’t need an employer anymore! Started by making a few cents a month on the side (MY personal projects) a few months ago, and I’m already making quite a few bucks a month now. This is only the beginning!

When you have this deep feeling inside of you that screams “I can’t stand having an employer anymore, I need to start taking care of my own business”, you know you’ve got something powerful ready to be unleashed. One baby step at a time, I’m getting there slowly yet surely.

By: The Financial Blogger

The Financial Blogger — Mon, 25 Jan 2010 21:29:52 +0000

@ Catarina,

I agree with you, to start your own business, you must be willing to pay the price in term of income and hours worked.

I guess this is my main problem: I can’t afford to quit my day job right now because of my mortgage… the bank is asking for a lot of bacon (and cheese too!)… hum… bacon and cheese….

By: Catarina

Catarina — Mon, 25 Jan 2010 19:59:38 +0000

OneDay, I agree with you. I would also add this too.

I think that starting your own business is like being ready in a relationship. Are your ready to care unconditionally (working long hours in the beginning and not give up)? Are you open about your expectations and ideals (working on stuff you do not necessary like to do)? Do you have trust (your wife still have to believe in you hehe)? Are you able to compromise your current situation (no more rat race, but low salary and unstable bacon first)

If you think you are ready, you need to jump!

By: OneDay

OneDay — Mon, 25 Jan 2010 19:47:40 +0000

Great post!! As per my opinion, it’s always a good time to start a company if you have a product that will fulfill a hungry demand. If you have a “me-too” product, that doesn’t have a targeted audience, then it’s not a good time. That’s why, it’s never too bad to make a business plan and make necessary adjustments! Good luck!!

By: The Financial Blogger

The Financial Blogger — Mon, 25 Jan 2010 18:33:52 +0000

@ Jerry Hung,
You got that right! several business owner works way more than salaried but they don’t necessarily make more money. The key is to find a balance but becoming a business owner is not the answer to everything!

@ Ryan,
This is the path I am trying to follow. As long as I can increase my side income without having to leave my job, I’ll keep both. At one point, I just hope to make more money on my own.

Worst comes to worst, a side income is always a good thing

By: ryan

ryan — Mon, 25 Jan 2010 17:39:20 +0000

My father owns his own business, but I went to college, got a job, etc.

It took a lot of time to unlearn everything that has been pounded into my head about working, status, success, etc.

If you want to go full time, scale your life back. Build your side income until it passes your monthly nut by an amount that allows you to keep investing. Then jump.

By: Jerry Hung

Jerry Hung — Mon, 25 Jan 2010 15:47:42 +0000

Great post, I firmly believe one’s background/history affects one’s ambition. My family has all been a worker ($ ~ $$$), so I’ve never desired to be my own boss, and confirmed by seeing other relatives spending 99% of the day working, even on vacation. What’s the point in that if you cannot enjoy life?

Granted, I’ll probably never be millionaire by working, but I’m easily satisfied, as long as I’m “ahead” of the rat pack, am I really worse off?

I can be a powerful rat, ha ha