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Want to start my own business and am petrified of taking the leap! Any advice?

(2 Posts)
semi Thu 27-Aug-09 14:38:32

I've been 'on the cusp' of re-starting my life for some time now. Working for someone ese is driving me nuts, got a tons of baby/kids' ideas that I need the space (and time, I have a 2 year old) to develop. Have registered domain names, thought of logos, consider legal stuff, but am absolutely bricking it - and need reassurance that doing this mid recession isn't the craziest bonkers thing I've ever done!! any thoughts?!!!

ChuffinAura Sun 30-Aug-09 10:17:08

Is it something you can do alongside your job for a while, or take a sabbatical of a few months to see if your business ideas will take off?

I run my own business. It is a risk, but I'm lucky in that if I fail miserably, DH's salary will at least pay the mortgage.

When I started my own business, I decided I would like to be able to make enough money to match my previous salary, plus cover our mortgage, as we had to move from a mortgage free home to our current home so that I could set business up. Did this easily in first 2 years, but we are not on track this year - business down approx 30% due to recession. We are not in dire straits, but I must admit I do worry.

Have you done your research to see whether business would be viable? Are there other similar businesses in your area - this doesn't have to be a bad thing in itself as it would suggest there is a call for it.

Are you single parent? What would happen with business if either you or your 2 year old were ill for any length of time?

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