sovietsurgeon
PARKED
- Joined
- Nov 30, 2015
- Messages
- 4
Rep Bank
$25
$25
Hi all,
Thanks so much for being such an amazing community to learn from.
I'll make this as short as possible.
Two years ago: I realized I hated the 9-to-5 and I was meant to be an entrepreneur. Quit my job (with no plan), got into debt, and had to get another 9-to-5.
One Month ago:
I quit my 9-to-5 again. This time, I have $13K saved up and a plan. I have a small part-time job that I can do from home, that covers 40% of my living expenses, and reduces my burn rate to $1.5K per month.
I'm working on a private label product which should be ready in the next month or two, but it could totally fail, as the manufacturer is iffy, and I may need to start over.
In the meantime, I'm trying to do a mix of consulting, retail arbitrage, and gigs to make up the additional $1.5K per month that I am burning. So that I can preserve my $13K and invest it into business when I find the right supplier, as opposed to burning it on rent. So far, aside from $50 here and $200 there...nothing solid.
THE MAIN QUESTION:
With $13K, in the red every month, and nothing "definite" other than some ideas...can I make it? Can I do this? Can I succeed?
I'm feeling a bit uncertain right now, and even though I never want to go back to the 9 to 5, ever, my business is taking off a bit slower than I expected, it's probably still 1 to 2 months away, and it's hard to break even every month.
Thank you guys so much, all the best
Thanks so much for being such an amazing community to learn from.
I'll make this as short as possible.
Two years ago: I realized I hated the 9-to-5 and I was meant to be an entrepreneur. Quit my job (with no plan), got into debt, and had to get another 9-to-5.
One Month ago:
I quit my 9-to-5 again. This time, I have $13K saved up and a plan. I have a small part-time job that I can do from home, that covers 40% of my living expenses, and reduces my burn rate to $1.5K per month.
I'm working on a private label product which should be ready in the next month or two, but it could totally fail, as the manufacturer is iffy, and I may need to start over.
In the meantime, I'm trying to do a mix of consulting, retail arbitrage, and gigs to make up the additional $1.5K per month that I am burning. So that I can preserve my $13K and invest it into business when I find the right supplier, as opposed to burning it on rent. So far, aside from $50 here and $200 there...nothing solid.
THE MAIN QUESTION:
With $13K, in the red every month, and nothing "definite" other than some ideas...can I make it? Can I do this? Can I succeed?
I'm feeling a bit uncertain right now, and even though I never want to go back to the 9 to 5, ever, my business is taking off a bit slower than I expected, it's probably still 1 to 2 months away, and it's hard to break even every month.
Thank you guys so much, all the best
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