I'm working really hard to save up $100,000 in five years so I can quit my job and make it on my own working for myself. I'm smart, educated, and hard working. The problem is, I don't know where I should start. I've considered real estate and the stock market, but neither of these really appeal to me. I'm looking for some ideas and suggestions. I know no one will know the perfect thing for me because I did not mention interests and strengths, but I'm just testing the water for some ideas! Thanks!
2007-08-17 09:47:15 · 3 answers · asked by DrewS 2 in Business & Finance ➔ Personal Finance
That's an admirable goal. You'll be much more successful once you have determined what you will do once you have your $100k and are on your own. You'll need to consider your living costs as well as insurance and how you will capitalize your business. Many small businesses fail in the first year and one of the biggest reasons is for too little capital.
$100k doesn't seem like very much to live off of AND start a business, but people have been successful with less. You need direction, dedication, and details. Have a plan before you start so you'll know what risks you are facing. Talk to other entrepreneurs for their advice and save yourself a lot of agony.
Good luck.
2007-08-17 09:55:23 · answer #1 · answered by rhyno 3 · 1⤊ 0⤋
There are enough people in this world with lots of money but do not know what to do with it. Real business man never does any thing with his own money.
2007-08-17 09:55:46 · answer #2 · answered by mangal 4 · 1⤊ 0⤋
Do you have any particular restaurant chains you like? Maybe buying a franchise or opening a new one might be good.
2007-08-17 09:52:07 · answer #3 · answered by Uncle Pennybags 7 · 1⤊ 0⤋