Any of you own your own business? I've been considering quitting my job (which does pay decent) as I'm getting burnt out but am torn on what market to get into or where to start. A lot of its just day dreams but I suppose it all starts somewhere. I have over 150k sitting in the bank but haven't invested any of it yet. Zero debt. What do you guys recommend I look into? Surely you guys are more insightful than dweebs on Google
>>61440550lol what do you do for work anon?
I recommend it.Even if you fail, you learn a lot of lessons that are applicable to other parts of life.
It's really tough to just quit and start. You shouldn't cut off your income stream until you have proof of concept, i.e. you've done the work your business will be engaged in and made profit at it. Thinking of landscaping, for example? Now's the time to snow plow or mow lawns or whatever in your free time, see if you can swing it, build a foundation of customers. Website design? Design a few for people now to prove you can. If it goes well, and you're willing to go forward with it, they can refer actual customers to you.
>>61440582>Snow plow>mow lawnsHow do you compete with well established local businesses?>Website designHow do you compete with an extremely saturated global market?
Start slacking off at your dayjob and only do the bare minimum of what you can get away with without getting fired, to avoid getting burnt out. Work nights to build your own business for a couple of years. When your side-hustle income bypasses your dayjobs income, you can quit your dayjob and go all-in on your own business
>>61440550Engineers are dorks.
>>61440604>When your side-hustle income bypasses your dayjobs income, you can quit your dayjob and go all-in on your own businessdon’t even have to go this far. when it’s obvious that scaling up you side hustle is possible and profitable do it. if you’re putting in 20 hours a week and getting backorders it’s probably a safe bet.
>>61440582>Website design? Design a few for people now to prove you can. If it goes well, and you're willing to go forward with it, they can refer actual customers to you.I could strangle you for typing out such utter bomer bullshit no one take this retards advice.
>>61440543I've felt the same way. I've always wanted to do indie gamedev, so I tried doing it on the side but it's hard to do on top of a regular software dev job, I get burnt out and other areas of my life suffer. Of the things I did make, they didn't draw much attention. I looked at other gamedev's experiences and just making a few thousand dollars a year seems hard to do consistently unless they got a big hit. It's eye-opening to see people spend hundreds and thousands of hours grinding hard and putting in tons of effort only to walk away with a below minimum wage payout, and that's in a good scenario. Most people don't make anything.Compare that to my dayjob, I can fart around on a problem and as long as I'm making progress, every 2 weeks a couple thousand dollars hits my bank account like nothing. I can spend hours talking about random bullshit like our version numbers with coworkers because some project manager wants to change it, and we still get paid regardless. That sort of thing just wouldn't be possible if I was doing my own business, I'd have to do 10x more mental work, consistently, for months and years, just to get a chance of making a hit.Plus if I failed and had to find work in another few years I'd be in an even worse position.Anyway, I've been at it for years now and I've accumulated about 700k in investments. I still work on games in my spare time, and I still want to quit my job to do it full time, but trying to make it in such a hit based industry is scary, I don't want my entire life to depend on being successful. I have an opportunity to secure my financial future by just sticking with what I'm doing, so I'll take it.I should have enough in a few years to hit 900k, which is enough to cover my cost of living at 4% but not much else, then I can quit and switch to doing gamedev. Then again, half my investments are in crypto, so I'll either make it in the next 3 months or the next 4 years.
>>61440631I notice you've offered none of your own. Maybe you're just scared OP's gonna take your gig.
>>61440682Ironically I think the people who actually make it in creative work are the people who are already FIRE, because they don't give a shit about trying to make money, they just make something they think is cool.I think even if you're making something you like, if you have profit on your mind too, then those first few years with no revenue at all comes with extremely high burnout rate.
It's not what you know, it's who you know. First thing you need to do is talk with people. Understand what they do, what their frustrations are with their job, and assess whether there's room for you to step in anywhere and do that work. That's identifying a need.Then you need to come up with a business plan. Based on estimates of overhead, revenue, debt servicing, etc. you need to be comfortable with how the business is expected to perform. Projecting 3 years ahead is typical.Then if that all sounds like it'd work, float the idea quietly with your connections. See who would be interested in supporting you and how. Try to establish a book of business before you start paying overhead.THEN you can look at quitting and getting your own business started.You need to have a competitive edge if you're gonna make it. Usually that's going to be knowledge or service because established companies can crush you on price if they decide you're enough of a nuisance.Good luck, anon.
>>61440781You're right that being able to create without having to consider profitability frees your mind to focus on just creating things that are cool. It's definitely not everyone but there's always some people that found success that way, they just kept doing it and people found it interesting and it kept growing from there and ironically they see financial success far beyond having needed to be FIRE in the first place.They end up making it look easy and I think the mistake a lot of people make is jumping head first into creative fields thinking that's going to be them next. Which I think there are some success stories like that, some people are just built different and are successful no matter what they get into, but it's not for everyone, especially without the financial support.
>>61440685the time to start a business was pre covid
>>61440543Just make sure you know how to market and understand how saturated your business subniche is (and how to beat the competition) before making the leap. Don't do what I did, quit, and have literally everything I did backfire (a few failed businesses and crypto fucked me up the ass, 70% of my networth completely vanished because of my horrible mistakes).
>>61440543>own 5 acres of land>plant shitload of spinach>got 6 harvests a year>sell dogshit spinach to a company that produces dogfood>clearing $500k every year>confused when people cry of no monnies>idk men life is good
>>61440601>How do you compete with well established local businesses?Good customer service. Offer better value. Advertising.>>61441252>simply become a large scale commercial farmerI think you've been huffing too many diesel fumes Jeb.
>>61441252This is pretty based
>>61441010There should be a big crash coming up anon
>>61440543The best place to start is by figuring out if your goal is to start and run your own business or if it's to grow your $150k through investing. Big difference.I built a "blue ocean strat" business in America that has really strong branding and doesn't necessarily compete with anything else. It has done quite well in test markets. The general public loves the product and it performs especially well with "young professional" crowds in affluent coastal markets. Problem is, to go all out on the business, I quit my decent-paying tech job on a whim with little in savings, little to no means of raising capital (esp in 2024 with high interest rates), and I suck at actually running a business. I'm a left-handed spaced out airhead who came up with something novel but is dreadfully bad at organization. When I had the opportunity to scale, I couldn't. I was stuck as a one-man op. Now I'm $25k in the hole and can't find work to bootstrap.I'm in it for the long run and figuring it out bit by bit because I know my limitations enough to know I'll never strike lightning like this twice. I'm lucky to have found the success I have. I figured out the hardest part - actually coming up with something that people really like, want to buy, and will repeatedly buy decades from now. The other component - the one essential for any business - is raising capital. I'm still fumbling my way through. tl;dr OP - don't quit your job, especially now in this dogshit employer's market. You're best off staying and finding someone with a good business idea but no capital to invest a safe portion of your savings into. Keep saving and, if you really want to go at it 100% by yourself, keep thinking and experimenting in your free time until you've found something you really want to do that has a viable market.
