The new career path involves starting my own business with a lot of time investment initially, so basically I have no guaranteed money coming in for a while. How do I make the transition from making good, guaranteed money right now to living cheap (but happy)?
2007-08-04 17:32:58 · 3 answers · asked by dalia8808 3 in Business & Finance ➔ Personal Finance
Thanks for answers so far. What I am looking for is more along the lines of....where can I start to cut expenses so that I can prepare to live on a third of my current salary?
2007-08-05 04:46:16 · update #1
Put away at least a year and up to three years of minimum expenses. Do not put anything on credit - pay cash or don't buy it. Get a loan to help with your start-up costs from the SBA or through private investors. Some areas have "angels" who are wealthy investors who venture capital. But watch out for venture capitalists because they will try to take over your business.
2007-08-04 19:17:30 · answer #1 · answered by Tangerine 4 · 0⤊ 1⤋
First, forget about the angels and VC's .. angels do want to run things, and a VC won't usually invest in anything less than $5 million (preferably $10 mil or more).
Is there any way you can do this part time, while you're still working? Many people do that. I have.
2007-08-04 19:24:03 · answer #2 · answered by jdkilp 7 · 0⤊ 0⤋
Dammit Nolte, you will thieve all my thunder and that i'm able to't have that occuring. do not pursue this profession, i'm able to't have the money for to lose my sales. Do you hear me? Hell i will even use my recommendations to load you up on beverages. ((((Nolte)))) you comprehend i admire ya.....yet i'm severe, i will save you much extra loaded than known to maintain you off the pole. :P
2016-10-19 09:22:02 · answer #3 · answered by cywinski 4 · 0⤊ 0⤋