Just Business
I've learned more out of school than I have in the past year. School can't teach you about life and how things work. I don't know why some companies take 2 months to say no, while others don't get back to you at all. It's all good, just means those companies in particular weren't meant to be... but if I really wanted one, I'd keep trying for it. So what's my focus? Well, I've found a niche, so business holds me down while I try and reach for a salary. Question of the week - Do I make the business grow, or keep striving for that salary?
Here are a few things I've learned so far. I do consulting for small businesses in the area, and I see that whether you're in business for yourself, or working for someone else, its so easy to fall into the trap. If you make $50,000 a year and spend $50,000 a year, you've made nothing. So if you're working to maintain a status - car, house or rent, other loans, and you lose your job... how are those bills going to get paid? (Some of this may sound like "Rich Dad Poor Dad." If it does, I haven't read it, but I've had a lot of people tell me about it). Answer, you need to set up a separate source of income for yourself that is enough to get you by in rough times. Savings can do that too, but income is always better than savings. That way, if you want to go back to school, or change careers, you can do that.
So for me, I know I have a business I can fall back on, but its not enough right now... I can make it grow, but part of me wants a 9-5 and a paycheck, so I can gain experience and save in the meantime. The other trap I'm trying to avoid is getting so deep into business that I can't get out.
Recap
1. set up a separate source of income
2. if you start a business, do it with the intent of phasing yourself out, and develop a model so that you can always generate income from it
Your day job should be fun, something you enjoy waking up to do, because ideally, your separate source of income will always be enough, or more than enough for you to live off of.
So for me, (and as I write, things become clearer - hence the reason for the blog/journal), the best course of action is to build the business, phase myself out, then find a job. Its scary though, because its not the normal thing to do since after school is either grad school or work.
Here are a few things I've learned so far. I do consulting for small businesses in the area, and I see that whether you're in business for yourself, or working for someone else, its so easy to fall into the trap. If you make $50,000 a year and spend $50,000 a year, you've made nothing. So if you're working to maintain a status - car, house or rent, other loans, and you lose your job... how are those bills going to get paid? (Some of this may sound like "Rich Dad Poor Dad." If it does, I haven't read it, but I've had a lot of people tell me about it). Answer, you need to set up a separate source of income for yourself that is enough to get you by in rough times. Savings can do that too, but income is always better than savings. That way, if you want to go back to school, or change careers, you can do that.
So for me, I know I have a business I can fall back on, but its not enough right now... I can make it grow, but part of me wants a 9-5 and a paycheck, so I can gain experience and save in the meantime. The other trap I'm trying to avoid is getting so deep into business that I can't get out.
Recap
1. set up a separate source of income
2. if you start a business, do it with the intent of phasing yourself out, and develop a model so that you can always generate income from it
Your day job should be fun, something you enjoy waking up to do, because ideally, your separate source of income will always be enough, or more than enough for you to live off of.
So for me, (and as I write, things become clearer - hence the reason for the blog/journal), the best course of action is to build the business, phase myself out, then find a job. Its scary though, because its not the normal thing to do since after school is either grad school or work.
posted by JC at 11:21 PM
1 Comments:
Oh man. Don't even go there 'cause this is all I've been thinking about. But it is sthg to think about.
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