I don’t know where/how to start.

by jakefromstat3farm23. Posted on Sep 16, 2020    3    14


I’ll give a little bit of my background of me and my current situation. I’m a 24yo m, with a wife and son, and I work a normal 9-5 M-F job. But I’m ready for a change. I’m tired of envying other people who have their own businesses and dreaming of doing the same one day. I want my own business. The whole idea of being an entrepreneur has always excited me, but I took the route of going to college and getting a degree in hopes of securing a well paying stable job. While the job I’m in does provide great benefits for me and my family, it’s not what I want to do with my life. I am well underpaid, and on top of that I’m not even happy with what I’m doing. This is what brings me to my next question. How do I start? If I was single and didn’t have a family, I could very well take the gamble of just getting up and quitting my job. But I can’t do that when they depend on me. I have a few business ideas in my head, I’m just wondering if anyone else here has been in my shoes.


Comments

GrantDubs 1

Where do you live? What do you currently do for work? Why do you want to start a biz/ work for yourself? What are your specific goals? What do you do for fun?

  jakefromstat3farm23 1

I live in the South-East of the US. Currently I’m just working an office job as a financial advisor. I want to start a business not just to work for myself, but for me it’s more of making a name for myself. Really feeling like I accomplished something with my life at the end of the day. I just want to feel proud of myself, which I rarely do now after a day of work. My specific goal is to make a comfortable living while enjoying what I do. Wake up not every morning, but atleast 90% of the mornings and be excited about what I do for a living. Also to pass it down to my son one day if possible. As far as fun, I’m into fitness a lot, running/weight lifting. Also I’ve always had a passion for cars. Anything to do with them. I’ve honestly gone back and forth of the idea of having my own car dealership. I don’t know if that’s far fetched but I honestly think I would love it. I also know that I don’t really know about the logistics that go into it.

Qsapien_i 2

Businesses are combos of all known skill sets being utilized to build product/service & marketing/selling that product/service.

Build something & sell it. Or build skillsets to build something & sell it. Or build a team of people w/ skillsets to build something & sell it.

“Something” =
selling a few cars a month is something.
selling fitness information/training is something.
selling health management/ financial advice is something.

Start w/ side hustle. Grow from there.

bjjkaril1 2

Reading your comments below I think you're on the right track. I'm a tad bit younger, with a similiar cozy job. Personally what I'm doing is house hacking early next year with an FHA loan (getting a duplex/triplex/fourplex) and currently starting a small e-commerce side hustle and possibly a power washing business next year. If you don't own your own house and are renting, I think an amazing first step would be to house hack into a multi-unit property where you could move out after a few years and still rent out for a small amount of income. Your risk tolerance is going to need to be lower due to having to provide for a child.

danielluk 2

Just do what you love. The rest should come. Pour your hear into your passion/passions. When you do what you love youll be willing to work your ass off. Despite the challenges, your family, current situatuon and job which provides you with money, a family, time and the opportunity do actually do your own thing. It might suck in some ways. But use it and chanel it to your advantage for your goals. Organise your time and take care of your body and health, only way you can optimise and manage doing another thing after your regular job 7/8-12PM perhaps, is if you are strong, energized and healthy.

Maweedug 5

Think u answered ur own question. You aren't single, ur family depends on you so maybe the safest option is the wisest option for now, this is not a good climate to take a risk and start a new venture. You're very young, why not hold off for a while or even start a side hustle.

  jakefromstat3farm23 2

I think honestly what I might be looking for is a side hustle. Something I can work with in the evenings and on the weekends. Thank you for the advice

Maweedug 5

I was direct with u because I'm a parent myself but I'm in my forties so I have a bit more life experience. Theres no price on your peace of mind so being able to provide for your family is the number one priority. X

  jakefromstat3farm23 1

You’re right, it would be hard for me to enjoy something when I’m constantly worrying if me and my family are going to make it every month financially. This might be a stupid question but do you have any resources where I can research side hustles?

Maweedug 2

Was having a look at some of the subreddits I follow for u. Sweatystartup is good, as is small business, entrepreneur etc. Theres a facility to bring up the top post of all time and in the last year that will bring up the best stuff.

Maweedug 2

Yes peace of mind before anything and being a parent is the most important job ul ever do. I've seen loads on here people talking about side hustles ud just need to trawl the different threads on this subs and similar ones. Even ask people a question about it see what responses u get. I'd maybe try the entrepreneur sub too u might find a thread there. What are u good at? What are u passionate about? Maybe try and think along those lines and develop it from there.

miamiscubi 8

Whatever business ideas you have, ask yourself whether they solve a problem, and how much people are willing to pay for that.

B2B is I believe better than B2C.

Also, realize that you may need a ton if runway in this pandemic, people and businesses tend to be down, and adding costs is not a priority.

If you still have a salary and benefits, count your blessings. When these have to come out of your own pocket, it gets tough real fast.

Cheers

  jakefromstat3farm23 2

I’m very thankful that I still have a job and benefits. Especially when my wife was let go of her job about 3 months ago because of the pandemic. This is something that I know will take time to get started I just want to some insight from those who own their own business. Thank you for the advice too

miamiscubi 3

Listen to tropicalmba and startups for the rest of us podcasts, they have great insights