scratch the entrepreneurial itch

Should I Scratch the Entrepreneurial Itch?

Erik Entrepreneurship, Thoughts of a Mastermind 25 Comments

Sitting down at my computer right now, I am scared.

I’m scared to write this post.

I’m scared because this post will be the launching pad for my biggest leap ever.

Please join me in discussing my decision to scratch the entrepreneurial itch. Should I quit my job in Corporate America and go full time on a start-up? Should I build up more in savings and work on the side?

scratch the entrepreneurial itch

In this post, I’m going to go through a few things:

  • An Overview of My Life
    • My Upbringing
    • Thoughts on my Current Job
  • My Thoughts on The Mastermind Within
  • Chatting with My Boss About Leaving
  • Budgeting for Leaving my Job
  • My Plans for Life After a 9-5

Enjoy!


My Life, Up Until March 2017

In the following few paragraphs, I want to discuss my upbringing and experiences which have shaped my perspective on life. I have a great family and have been successful as a result. Below I go into why I’m naturally conservative, quiet, and determined.

My Family

I’m blessed and grateful for being born into a wonderful family. I’m the eldest of 5 children and have 4 beautiful sisters (ages 23, 15, 13, and 11).

I can never remember a time when I had to miss out on something because of money or time. My mom stayed at home for my entire childhood and was always there to help me with anything I asked. If I needed help on homework or wanted a ride to a friend’s house, she’d be there for me.

My dad was my baseball and basketball coach for the majority of my childhood years. His dad was his coach, and by coaching me,Β  this was one of the many ways he showed love for me. In addition to coaching, he was always up for a game of horse in the driveway or a card game.

From college to the year 2000, he was a banker and worked his way up to become CFO at a regional bank. In a merger, he was asked to move to San Francisco and declined. From 2001 until today, he has been involved in multiple enterprises and companies and has shown me a work ethic unlike any other. You want to talk about grinding it out? 12 hours a day, 7 days a week? That was my first experience to entrepreneurship.

Growing Up

When I was young, I was the quiet kid at school. I tried to be outgoing and funny, but this did not come naturally for me. From 5th grade until 8th grade, I thought I was funny when I made stupid comments and tried to act cool. Not a good strategy for trying to impress people. By the 9th grade, I realized school needed to be a priority and in class, I stopped messing around and hit the books.

Socially speaking, I didn’t take too many risks in high school. I stayed to myself in class and rarely talked to people I didn’t know. This was unfortunate, I was behind the curve communication wise and would need to make up for that in my college years.

A Builder and Problem Solver

In my free time, I was always building things. I loved playing with Legos. When I’d play, I’d create massive structures,Β  tear them down and then build them up again.

I also loved to play with my baseball cards and would create fake teams and leagues to play against each other. After each game, I’d compile the stats and figure out the best players on each team.

In high school, I realized I was naturally talented at solving problems and playing games. I bought an Xbox 360 and was hooked on various online multiplayer games (Halo, Call of Duty, etc). This didn’t help my social skills directly, but working as a team and yelling at 13-year old kids over the internet was a good time (haha). I also started solving Rubik’s cubes… I’m ranked top 2000 in the United States. When I put my mind to something, I achieve it.

rubiks cube comp

Me at Cubetcha 2011

College Years

When I went to college, I continued to not take too many risks. I didn’t drink alcohol during my freshman year and didn’t go to any parties until late in my sophomore year. I didn’t understand why my friends wanted to drink. Eventually, I came around to it like most college students do – but it took me a while.

I finished up my undergrad degree in 3 years. Again, when I put my mind to something I achieve it. I entered grad school and did my Master’s in 2 years. Some of my friends in my program were looking to work in New York City or Chicago. Not me, I wanted to stay close to home because I thought Minnesota was a great place to live. It is a great place to live, but this was the conservative Erik speaking!

My Current Day Job

In my current day job, I’m working as a quantitative analysis performing statistical analysis. To be specific, I’m analyzing the credit risk in the Wholesale loan portfolio for the bank I work for.

My job was one of the jobs created by the Dodd Frank Act. It is very interesting and has allowed me to learn many different things about credit risk and banking. I’m a top contributor in the team and have been great in helping the team along throughout the year.

Pros of My Day Job

There are some great benefits I experience in my day job:

  1. I’m paid very well for my age
    • My current salary is $76k with a 8% bonus and after a promotion, I would be around 82-85k with a 10% bonus
  2. I’m working on high visibility projects where I regularly meet with senior managers.
  3. Have opportunity to mentor an intern this summer to gain management experience
  4. My team members are nice people who are friendly and happy to work with me
  5. Corporate America benefits and 4% 401(k) match
    • After researching various things for self-employment, no wonder people aren’t leaving Corporate America!

Cons of My Day Job

A few things bother me about my current job:

  1. I’m on the expense side of the income statement.
    • Since my job is a result of a regulation, we aren’t revenue producing and won’t see revenue producing salaries.
    • The 3% (if that) stick and carrot is all we see πŸ˜‰
  2. There is little room for growth into a manager position
    • I have 1 year of experience in my current role. While I have the skills to manage a team, I won’t be looked at seriously for at least 2-3 more years.
  3. I feel like I’ve learned 80% of what’s out there for this job in 1 year.
    • Do I really want to specialize in this field?
    • What else is out there for me?

I’ve listed out my pros and cons. It would be safe for me to stay, but the regulatory environment is up in the air. If Dodd Frank is repealed, then what? I’d have to find a new job. Even if Dodd Frank stays around, I’ll still have the entrepreneurial itch to get out and do my own thing. It’s tough to be creative in a group when creativity is frowned upon…

Conclusion on My History

Up until this point in my life, I’ve played it pretty safe. I’ve been successful, but feel I can do more and I can be more.

The result? I want more.

To Scratch the Entrepreneurial Itch or Not Scratch the Entrepreneurial Itch, That is the Question

I want more. I want to get out there and have new experiences. I’ve lived the majority of my life making the easy choice. I’ve sheltered myself from many experiences in my past. Life begins outside the comfort zone. Growth begins outside the comfort zone. It’s time.

The traditional path for people is go to college, get a job, start a family, retire. That sounds great, but I’m looking for more. I love building things, but I don’t get enough of it in my day job. I’m ready for a new adventure – an adventure which will take me to the next level.

Jobs suck because they’re rooted in limited leverage and limited control. Sure, you can have a great job (and a fun one too!) but in the scope of wealth, they limit both leverage and control – two things desperately needed if you want wealth. – MJ DeMarco

The Mastermind Within

Essentially, the decision to quit would mean going full time on developing The Mastermind Within. Right now, there are some products and features in the works. I’m working on a post for next Monday which will explain these developments in detail.

I’m very excited about the potential of this blog and this brand. As stated in our mission statement, we want our readers to experience amazing personal growth. This can only be accomplished with great features and great content.

The Mastermind Within Mission Statement:

The Mastermind Within hopes to build a collaborative community where ideas can flow openly, and readers can build knowledge and experience amazing personal growth.

Personal finance and self-development are two topics I’m passionate about. I want to continue to influence the minds of others and help them become more successful. I want to help, now it’s time to get after it!


Since I still do have a day job to do, I want to ensure I am wise about my potential exit. As a result, I called up my boss today to discuss my thoughts.

Chatting with My Boss

Earlier today, I chatted with my boss briefly to express my interest in leaving the company. He lives in a different state, so I called him on the phone.

I started off the conversation by saying, “I care about having open communication and being transparent and I wanted to chat with you about my interest in working on something revenue producing. I’m interested in starting my own company and wanted to get your thoughts.”

My boss said, “I understand, you are young, single, and have a dream. This is the best time to take a chance because you don’t have anything holding you back. I don’t want you to go, but if you do, I get it.”

We chatted a little bit more and will chat in person when he comes to visit in a few weeks.


Cash on Hand Analysis

What wouldn’t an Erik post be without a good hard look at some numbers! πŸ™‚

In this section of the post, I’m going to take you through my analysis of wages and expenses to give you a better understanding of my financial situation.

Forecasting Starting Cash

The most important factor in my analysis is how much cash on hand I’ll have on my first day of entrepreneurship. With reasonable certainty, I can forecast my cash for the next three months. Note: my current 2017 financial plan is to pay down $25k of my mortgage to get rid of PMI. If entrepreneurship is the way I choose to go, then that plan may need to be put on hold! For this reason, I have two columns in the following picture.

cash forecast

Cash Forecast for the Next 4 Months

I will have a cushion starting out – I won’t be without cash and will be able to cover any major emergencies. This is promising.

Wages

If I leave my day job, I still have 2 income streams: rental income and my side gig doing statistical consulting income.

My rental income will be constant at $1,300 a month through the rest of 2017. My side gig doing statistical consulting should bring me about $1,200 a month. The side gig will have hours that vary, so this number could be volatile.

In sum, my income without my day job will be about $2,500 pre-tax a month.

Expenses

My main expense is my mortgage. When I include house insurance, taxes, and PMI, my monthly payment is $1,700 a month. Other than that, I don’t spend too much money.

I’ve determined conservative estimates for food and fun ($400 a month), gym ($25 a month) and home improvement ($500 a month). Also, I determined a number to hold for tax purposes ($500 a month). If I quit, I don’t want to have to scramble to pay off the IRS!

Health and Dental Insurance

If I quit my day job, I would need to get my own health and dental insurance. This would be a costly expense and something I have no experience dealing with. Currently, I got a good chunk of my insurance paid by my employer.

I went on the MNSure (the Minnesota Health Care Marketplace website) to see what kind of plans were out there. This would help me understand the market and allow me to get an understanding of the cost of health and dental insurance. Below is what I found:

health care premium

Cheapest Health Care Options

dental insurance options

Cheapest Dental Insurance Options

Given my research, I will be slightly more conservative and input $275 for health insurance and $25 for dental insurance.

My Entrepreneurial Budget

Below is my entrepreneurial budget. This has the inputs I discussed earlier in this section. On the top left side of the figure, you see the wages. Next, I show you my fixed expenses and variable expenses. Finally, on the right side, you can see the monthly deficit I’d be running and how many months I would have in savings.

budget analysis

I love doing things like this!

If I was to leave at the end of April, I’d have over 9 months to figure out a plan to increase my income. I know for a fact I would be able to build something in 9 months. Given that I’m working with a great team, I have no doubt that some kind of revenue will come through the door!

One thing I’m worried about is any big home repairs I’d need to cover. I know my water heater will probably need replacing in the near future, and my furnace is 27 years old.

One last thought on the budget: if everything fails miserably, it’s not like I’m unemployable. I will have read 75 books in 2017, have became an entrepreneur, and still only be 24 or 25 years old. I have full confidence I could get a job back in Corporate America… because of this… onto planning….


What I Would Do After Quitting

After quitting my day job, I would have 50 hours of time to fill with whatever I wanted to do. Let’s discuss how I would fill that time effectively.

Learning by Reading and Doing

In 2017, I have a goal to read 75 books. Currently, I’m through 19 and well on my way to reaching this goal successfully. If I had 50 extra hours, I would devote between 5-10 of these extra hours reading content on how to make myself and my business better.

Recently, I picked up a number of books on business, start-ups, sales, and personal development. I have a stack of 28 unread books sitting on my desk (no, that isn’t a typo). I already do book reviews for The Mastermind Within – now it would just be part of my job! Investing in yourself is the greatest investment you can make.

For the doing part, I would get out and travel. I will go on a road trip or visit another country. Given my only restriction, WiFi, I could work from wherever. This would open my eyes to new perspectives, and give me a better understanding of the world.

β€œIf you aren’t showing up to be better than you were yesterday you will not last in real business.” – John D. Rockefeller

Consulting and Networking

As I mentioned above, I already have 3-4 hours of consulting a week through my old co-worker. Also, The Mastermind Within is going to start consulting individuals on various topics. By freeing up 50 hours of my time a week, I can spend a few hours a day with clients and potential clients.

In addition to consulting, I will be networking with other like-minded individuals to understand their experiences of entrepreneurship. Also, you never know what opportunities or collaborations will pop up without a large network. Networking will be vital to our success.

β€œIf you are the smartest person in the room, you are in the wrong room.” – Richard Trendi

Blogging: Product Development, Content Marketing and Sales

Every blog has two main components to it: the content (posts like this one) and marketing (SEO, commenting, social media). For content, The Mastermind Within has consisted mainly of personal finance posts, fitness posts by Henry, and book reviews by Erik.

Going forward, we want to build out an entrepreneur section and continue to post on personal finance and fitness. Both Henry and I are passionate about these topics and want to share our passion with the world.

Right now, Henry and I are working on a free 5-day mini course on personal finance. This should help us build our email list and allow us to grow our traffic base. Next, we will write an ebook and produce a course which should bring in passive income. Finally, as mentioned above, we will begin consulting. Some of our clients will be acquired through cold calling local businesses (remember I wanted to learn while doing?). I’ve never done sales – this will be an eye-opening experience!

One last note on the blogging front: I love the allure of traffic primarily acquired through search engines. SEO is crafting your posts in such a way where search engines will display them when someone searches for a certain keyword (or set of keywords). I’m learning more and more about SEO as time goes on. SEO is somewhat of a black box – our efforts should pay off eventually!

Do you want to start a blog? Head over here for our guide on how to start a blog in 30 minutes!

Exercise and Sports

Okay, come on. You thought I wouldn’t take full advantage of my new schedule?

When I worked for my dad’s company in college, Wednesdays were reserved for golfing in the morning. My dad is a partner in a local golf course, and Wednesday is League Day. During those two summers, I became a decent golfer (12 handicap) and loved hanging out at the course with my dad. If I’m working for my own company, I can definitely make time to play a round of golf each week πŸ™‚

In addition to golfing, I normally look to hit the gym 3-4 times a week. If I’m not held to a 9-5, I can go to the gym whenever I want. I could go to a yoga class mid-day, or go for an 11 am run around the Minneapolis lakes. The possibilities are endless.


Final Thoughts

I’m ready to take the next step. It’s nearly midnight and I have a call with a client at 8 AM. I also want to read a bunch of blog posts in the AM… looks like I’ll be tired tomorrow πŸ™‚ (oh, did I mention I could take a nap without being at a 9 to 5?)

At this point, it’s a matter of time. Do I leave my day job at the end of April? At the end of May? Do I stay on for another year, get rid of PMI, build up a fat savings account, and work on my company on the side? There are many questions to answer for myself – I’ll figure it out!


What about Your Thoughts? Should I Scratch the Entrepreneurial Itch?

What do you think? Should I scratch the entrepreneurial itch? Would you give up my salary and position in life to try something on your own? Have I missed anything in my analysis?

Thanks for stopping by. Please leave me feedback on your thoughts – I appreciate all the comments I receive and will take each one to heart.

Erik

Comments 25

  1. Erik, great post and great analysis. I’ll say this first — I love the enthusiasm and I completely understand the desire to leave. You seem to be much better prepared than I was when I took 2 chances at leaving my day job. Long story short, it didn’t work out for me. I ended up getting a job the first time and going back to the job I left 6 months later the second time.

    The fact is you’re 24 and still incredibly young. If I were you, I would wait. That said, can you ditch the gym membership? Decrease the food/fun budget? Is there a way to make the side hustle a full-time income without 40 hours/week? Can you have a plan to pay down your house quicker rather than just get rid of PMI? Can you get another rental that produces $1,000+ per month? Do you think having more of a cushion for at least a year may be a better long-term decision? Just a few things I’m thinking of now and wish I would’ve thought before.

    This is just my feedback. It’s ultimately your decision obviously. I just wanted to give you some perspective from 32-year-old Dave who was in a similar position as you were 8 to 10 years ago.

    Good luck with the decision my friend! πŸ™‚

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      Hey David,

      Thank you for stopping by and giving me a lot to think about. For many of my estimates, I purposely made them conservative. I don’t think I would have too many “Fun” expenses if I was working for myself. Also, my food would go way down since I wouldn’t be eating out!

      There are a lot of options and I’m considering them. Rental properties in my area are few and far between. In addition, that would take a lot of time if I bought a fixer-upper. The stock market is going wild, it’s a casino… paying down my house seems logical, but I have renters and a 2.625% rate. Why not take a chance?

      Thank you 32-year old Dave πŸ™‚

  2. It’s intriguing to hear about your plans, Erik. You sound very determined, and I’m absolutely certain you will make a good go of it once you pull the trigger.

    I think a relevant question to ask yourself with regards to how long your runway should be before you leave is what kind of lead times would you reasonably expect when trying to find a full time job? Or, would you be able to scale up your consulting gig, if you came to the end of your runway? If you believe that you need a few months to find employment, I would probably aim to increase my cash reserves to give myself a bit of extra runway, if I were you.

    But, if you’re confident of finding employment sooner, or by taking on more hours on your consulting gig on pretty short notice, I’d say your reserves are pretty good already.

    Looking forward to hearing more about what you’ll do!

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      Lars- Christian – thank you for the thoughtful and detailed response. I appreciate your feedback.

      You make a good point – if I can’t find employment for a few months, then I might be stuck without a job. There could definitely be a string of bad luck which would really hamstring me… this would be all part of a great learning experience though!

      Again, thank you for stopping by – Erik

  3. What a thorough analysis! I think the biggest obstacle in your plan is health insurance-what happens when repeal/(maybe)replace happens-what if the monthly premium sky rockets? If that ever happens, hopefully it will be in the future and you will already have built a higher and more reliable income.

    It looks like there is a lot of flexibility in your budget. Will you be able to grow your consulting if it takes longer than you thought creating a different income stream?

    I disagree with David-you’re young and that is the perfect time to take a leap of faith because there is plenty of time in the future to go back to 9-5 work if you need or want to. You already have a marketable skillset and you’ll be increasing skills while working on The Mastermind Within. Plus, keeping up with consulting will keep it so there are no gaps in your resume.

    With all that, it’s up to you to decide what kind of buffer you’ll be comfortable enough with to quit your job. I am getting excited for you!

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      Jax, I agree with you on the health care… that’s a question mark for me as well. People in Corporate America take it for granted.

      I should be able to increase my consulting a few more hours a week if things get tight. Otherwise it’s not like I can’t start another side hustle. I’ve never been in the service industry and think that would be an amazing experience.

      Thanks for the comment. I’m young and can afford to take risk. Have a good one!

  4. Go for it! You’re young enough that you can easily bounce back from a failure and you are taking a risk that most Are not willing to take. It makes you more marketable and appealing to employers seeking high performance individuals to move into management and leadership positions. Risk takers get promoted because they know how to take calculated risks, are not willing to fail, and always look to learn from their failures.

    When Elon Musk became a billionaire the first time he doubled down and put all of his money into Space X and Tesla, barely had money in his bank account and slept on friends couches.

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      Thanks for the comment Stuart. I love your conviction, though I wouldn’t compare myself to Elon just yet!

      I love your point that you make about risk taking. People are generally risk adverse and if my enterprise flops, then I’ll have experience on my resume to chat about.

      Onwards and upwards, have a good one Stuart.

  5. Hi Erik, I agree with most of the comments about being young and taking a risk.

    But let me play devil’s advocate for a minute (only because I feel like balancing out the viewpoints a bit, I don’t think there’s a right answer here). What if you spent the next 10 years or so building up a solid financial nest egg, and paying off your mortgage completely. You would still be young, have a solid work resume, and a relatively guaranteed retirement. At that point, you could indulge your entrepreneurial spirit, but with very little to compromise. During those 10 years, you can continue to side hustle on your projects (blog, consulting, etc…). If one of them happens to take off, the 10 years can be reduced.

    This is of course the opposite of taking a risk, which is the point of your post. I would still classify it as taking a risk though since you would still be relatively young, it’s just a more calculated risk.

    Whatever you choose to do, you seem to have plenty of drive and discipline. You’ll be successful either way.

    1. I agree with you that he’s young and in 10 years he will only b 35 and still young enough to change careers after building up a bunch of wealth, but for the type of business he is looking to pursue, I think 10 years may be too late. I think the space is ripe for growth, the job market is now 50% millennials and will continue to grow. The millennials on the older end of the spectrum are setting up to move into senior management roles and make more money if they haven’t already gotten there. There’s a huge need right now to help folks develop their leadership and mangement styles for long term career growth as well as a need to help educate folks how to save and invest their money as their incomes increase. Also the Personal Finance space is exploding right now because the Millennial generation is very open to talking about money, careers, and how to get ahead in life in general. I’m exploring similar side hustles with a few friends and I know several folks from large companies who are also noticing the need for this type of service and looking to move into this space, so in 10 years the market could be saturated with similar services. In my opinion it’s better to be on the front end of a trend than the back end.

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        Stuart and Max, both of you have some great points.

        Max – Your thoughts on building a nest egg are sound and that would be the safe route to go. I agree with you I would still be young and can use one of my side hustles to supplement building that nest egg.

        To Stuart’s point, 10 years is a long time. There are many opportunities in the market right now and even if we can secure a certain percentage of it, we will be successful. I love your point on the Millennial generation is open to talking about money. Hopefully, we can get ahead of the trend and make it work.

        I’m going to grind for the next month or so and see what happens. It will be a side hustle until it proves itself. I know with dedication, I can do anything – though it will take true dedication to get it done on the side.

        Max – I really appreciate your kind words and support. I want to try new things and experience tremendous growth. If I fail, then I’ll fail forward. Life is a learning experience, if I get there with The Mastermind Within or another company, I’ll get there!

        Thank you both for stopping by and given your opinions. Have a good night Max and Stuart.

  6. First an upfront disclosure, I’m very conservative by nature… Frankly I’d try out some of your side hustles before quitting. Prove via a side hustle test run that your plans are viable. Then jump. I see nothing wrong with quitting once your making some cash where the business itself is on a trajectory with more hours to cover your expenses, but I wouldn’t jump until I had that proof of concept. For your age your on the upper end of the salary situation already. You do have a lot to risk.

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      Thanks for your comment FTF and I appreciate your concern. I agree with your comment I’m on the upper end of the salary situation. I definitely could play it safe and invest for the future/pay down debt in 2017. At the very least, I have options.

      I’m going to grind for the next month and see what happens. To your point, I should test my side hustle to prove it is viable.

      Thanks again FTF, appreciate you stopping by.

  7. I know you read Originals because I got the recommendation from you πŸ™‚ In one of the studies it said that “Entrepreneurs who kept their day jobs had 33% lower odds of failure than those who quit.”

    So while I honestly I would love to say quit and go for it the other side of me looks at the odds and says keep up the side hustle like Sam from Financial Samurai and then quit once you are generating enough revenue.

    1. That’s a good point and I like what several folks have said about working out the proof of concept before quitting.

      You may have already done this but if not, tt may help to sit down and write out a 10 to 15 pager on what your business model, pricing model, marketing model, etc are going to be. I find this process helps more than powerpoint decks or bullet points because as you write out each of these parts it forces you to think through the ideas more and consider how the different components will need to interact with each other. I first came across this idea from Jeff Bezos a few years ago and we use the concept with our teams often for small (only 1-3 pages) and large (10-15 pages) projects.

      https://www.hirevue.com/build-blog/what-i-learned-from-jeff-bezos-about-sales-management

      1. Hey Stuart, I really appreciate you following up multiple times – I’m glad I can ask my audience their opinions and get valuable feedback!

        Look forward to Monday when we roll out a new design + features. This will be a cumination of what you are referring to. This is a blog – we can experiment, get feedback, etc. πŸ™‚

        Thanks for stopping by and sharing your feedback – onwards and upwards!

    2. Dang MSM – you are calling me out!

      That’s why I’m being careful and getting my readers’ opinions on the matter. I’m going to be smart about it.

      Like I said, I’m targeting May 1st – but if things aren’t going well on the blog or we don’t have clients or sales, then it’s clear I should stay at my job.

  8. I also have a similar entrepreneurial itch that I want to scratch, but being married with two young kids, that itch is harder to scratch. One thing that most people will say is if you are going to take risks, do it when you are young and without a family. This is true, but I would also add that having a good financial reserve is crucial. Take another year to save more cash and plan your exit. Good luck Erik. I would love to follow your adventure.

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      1 more year? Do you think that’s a little too conservative? I’m going to do it… big redesign to this website coming up!

  9. I don’t have anything ground breaking to say other than, “Right on!”. My husband and I just had this conversation about getting the entrepreneurial bug. My dad is a farmer and a business owner, and I’ve watched him grow his business from our backyard to one of the biggest of its kind in Northeast Ohio. You’ve calculated your risk and you have nothing holding you back. I will cheer you on from the blogosphere world! πŸ™‚

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  10. From what I learned, a lot of businesses failed not because their businesses were bad, the reason was cash. They may not have enough cash to operate or don’t have enough cash to weather the slow start. If you have a bit more reserve, you will have one less issue to deal with.

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      Leo, thanks for your concerns. As I mentioned above, I’d still have about 11 months to live even if I didn’t get anything started.

  11. Erik, what a great post! With some awesome comments too! You’ve already received some great advice on the financial front so I won’t go on about that. But, I would love to see you have the PMI gone before you quit your day job.

    I love Stuart’s advice to “sit down and write out a 10 to 15 pager on what your business model, pricing model, marketing model, etc are going to be.” If you haven’t already done so, I strongly urge you to. Your above analysis is great, I can tell you’ve been thinking of this a great deal, and going through an exercise such as Stuart recommends can solidify your decision to move forward or be game changing.

    Having scratched the itch twice before and working on my third time now I can say there is nothing like being your own boss. I love it, but it is not for everyone. It sounds like you have a good team and support system, be sure and let them help.

    I’m rooting for you (what ever you decide) – go and move mountains!

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      Author

      Hey Amy – I appreciate you stopping by and leaving your feedback. I like Stuart’s idea as well – this is something I’m meeting with my partners on to discuss this weekend (we’ve been discussing it for a while now, so nothing new)

      You’re few sentences on being your own boss is inspiring me… I think the itch will be scratched sooner rather than later!! Thanks Amy for stopping by.

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