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Going Solo While Employed
If you’ve got the entrepreneurial itch, but still want to keep the “security” of a job, Free Money Finance, offers these tips for going solo while employed:
- If you’re close to having the employer match portion of your 401k vest, hang on until the money is yours.
- Try to build the business up to a reasonable level before jumping ship. Don’t start cold turkey if you don’t have to. At least have a few things going — no matter how small.
- Consider your current employer as a potential client… I know several people who’ve done this. In fact, the employer was almost 100% of their (pretty good) income for a time being.
Thanks, FMF, for the endorsement at the end!
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FMF on October 12th, 2005 12:47 pm
No, thank you!!! ;-)
Richard Valdez on October 13th, 2005 7:03 pm
Thanks for the link, FMF, to http://www.business-opportunities.biz/ I’m new to blogging, so I appreciate the tips. My wife wants to go full time with our business at the end of the year. Although our company compensates us very well, it is still a scary proposition. One thing I’d like to add to the article is that associates in our industry typically keep their day jobs until they match their full time income two months in a row. At that point, the transition is easier to swallow. My wife also was able to make arrangements with her boss to “transition out” into part time for a couple of months. This will help allow her to build the business, while hanging on to that security blanket a bit longer. If you have any questions, you can reach me at rich@richvaldez.com
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