Those of you who quit the day job and went solo...
Discussion
I want to hear your stories!
I am contemplating jacking in the day job in the new year but I have no idea what's really involved. All I know is, I have a part time business on the side that is demanding full time hours, a freelance job demanding more hours and a completely untapped revenue stream that at present, I don't have any time to exploit.
My reservations are that I have a wife on maternity leave from her job as a social worker (cushty little job, £18k a year for 3 days a week!) and two young children to support. No mortgage, no business debts other than a bit of loading on my personal credit card. All signs are there that the new year is as good as any a time to do this and the idea has been welcomed by family and actively encouraged by friends, but I don't know if I am being to hasty in wanting to go it alone. Clearly, there's never a 'right' time to do this. But I'm guessing there are certainly wrong ones.
So, over to the PH PBCD's, I'd love to hear how it went for you and what you'd do differently if you were to do it again!
I am contemplating jacking in the day job in the new year but I have no idea what's really involved. All I know is, I have a part time business on the side that is demanding full time hours, a freelance job demanding more hours and a completely untapped revenue stream that at present, I don't have any time to exploit.
My reservations are that I have a wife on maternity leave from her job as a social worker (cushty little job, £18k a year for 3 days a week!) and two young children to support. No mortgage, no business debts other than a bit of loading on my personal credit card. All signs are there that the new year is as good as any a time to do this and the idea has been welcomed by family and actively encouraged by friends, but I don't know if I am being to hasty in wanting to go it alone. Clearly, there's never a 'right' time to do this. But I'm guessing there are certainly wrong ones.
So, over to the PH PBCD's, I'd love to hear how it went for you and what you'd do differently if you were to do it again!
What would you say you'd need to have in place before leaving work?
Rather than things like business accounts, accountants etc, I'm talking about things like the amount of money in the bank, business contracts, established income, that sort of thing.
Obviously leaving a safe job with no money in the bank, no contracts and really nothing but an idea is probably not the wisest move, though no doubt some people probably do that.
With a family to support though, I want to make sure I'm not jumping in at the deep end before finding out I can't swim!
Rather than things like business accounts, accountants etc, I'm talking about things like the amount of money in the bank, business contracts, established income, that sort of thing.
Obviously leaving a safe job with no money in the bank, no contracts and really nothing but an idea is probably not the wisest move, though no doubt some people probably do that.
With a family to support though, I want to make sure I'm not jumping in at the deep end before finding out I can't swim!
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