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Hi,
My name is Jacek and I'm from Poland. I need advise if I should start business or not. First, my story shortly as possible:
I joined this forum 2 years ago, since that I become serious wantrepreneur. I dreamed about being rich but I've never started to take action, just read, read, read.
Last summer I decided to go all-in. I saved money for living, left my job and... spent all summer pretending I'm doing something (I don't remember if I did something at all). After that, I took a job at printing house. It was nightmare, I had to work 12-hours shifts 6 days a week, because I become the only guy who could operate one of their machines.
March this year I was so sick of this job that I decided to quit. At a meantime I was exposed to an offer of buying a farm with a grocery shop. My friend, who have telecom company, told me he will lend me some money for private financial participation for banks. I contacted few banks, one of them gave me nice offer and I started completing documents. People who have farm to sell, want to retire quickly. They already gave me the grocery and the land to seed what I want. After month the bank who promised to give me a loan got fusioned with another and they completely changed their policy.
Making long story short, before fusion my installment was 69k a year for 30years. I can earn about 25-30k a year from grocery, I get 30k/y from government for cultivate the land + I can earn something from selling crops. Earnings from both can't be scaled, but let's say it should pay for itself with little of my work and time, so I could start another, scalable business. That was a plan.
Now, during last three month:
- my friend resigned from giving me money but I raised them another way
- bank changed length to 15 years so my installment will be 96k/y, now I will have to earn 40k in next year extra and I have got no idea how
- my father started to have some health issues and I do his work as well, so I work at bakery from 5AM to 10/11AM and at my grocery from 4 to 9PM
The question is should I still go for it or should I resign?? What do you think??
I have payed 20k in advance to stop others from buying this farm, but i will lose this money if I resign.
I am in deep shit right now.
Few lessons I learned:
- don't leave your job if you haven't proven to yourself that you are action taker
- don't trust nobody
- always try to be prepared for worst case scenario
- small business also requires huge amount of work and time, but you fight for smaller rewards
That's it for now. It could be much longer but I don't know if my story is interesting at all
My name is Jacek and I'm from Poland. I need advise if I should start business or not. First, my story shortly as possible:
I joined this forum 2 years ago, since that I become serious wantrepreneur. I dreamed about being rich but I've never started to take action, just read, read, read.
Last summer I decided to go all-in. I saved money for living, left my job and... spent all summer pretending I'm doing something (I don't remember if I did something at all). After that, I took a job at printing house. It was nightmare, I had to work 12-hours shifts 6 days a week, because I become the only guy who could operate one of their machines.
March this year I was so sick of this job that I decided to quit. At a meantime I was exposed to an offer of buying a farm with a grocery shop. My friend, who have telecom company, told me he will lend me some money for private financial participation for banks. I contacted few banks, one of them gave me nice offer and I started completing documents. People who have farm to sell, want to retire quickly. They already gave me the grocery and the land to seed what I want. After month the bank who promised to give me a loan got fusioned with another and they completely changed their policy.
Making long story short, before fusion my installment was 69k a year for 30years. I can earn about 25-30k a year from grocery, I get 30k/y from government for cultivate the land + I can earn something from selling crops. Earnings from both can't be scaled, but let's say it should pay for itself with little of my work and time, so I could start another, scalable business. That was a plan.
Now, during last three month:
- my friend resigned from giving me money but I raised them another way
- bank changed length to 15 years so my installment will be 96k/y, now I will have to earn 40k in next year extra and I have got no idea how
- my father started to have some health issues and I do his work as well, so I work at bakery from 5AM to 10/11AM and at my grocery from 4 to 9PM
The question is should I still go for it or should I resign?? What do you think??
I have payed 20k in advance to stop others from buying this farm, but i will lose this money if I resign.
I am in deep shit right now.
Few lessons I learned:
- don't leave your job if you haven't proven to yourself that you are action taker
- don't trust nobody
- always try to be prepared for worst case scenario
- small business also requires huge amount of work and time, but you fight for smaller rewards
That's it for now. It could be much longer but I don't know if my story is interesting at all
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