What was your Kick in the Ass Moment.

magic_murph

I have been thinking about doing something other than my soul destroying 9-5 for a number for years but have that fear of walking away from a well paid job - reduction of income, lifestyle etc - all factors that have to be considered before making the leap.

I would consider myself an intelligent, well capable and creative person that could probably turn his hand to function in most business formats. ( I have worked in a wide range of industries from an IT Management perspective)

Just wondering what was the 'kick in the ass moment' for most people.
What made you change from day dreaming about what could be to actually giving it a go.

It will be interesting to hear from people that were/ are in a similar position and how things have changed either for the good or bad.

jimmii

Moved back to Dublin from London and got a management job in a shop that was set to turnover €4.5m last year and was getting paid <€30k to manage 40 odd staff and thought wtf got to be a better way than that to make some money so opened my own shop and now work for nothing! But its way more fun. If you enjoy a ridiculously low hourly wage combined with a massive increase in hours and no holidays then I would definitely suggest starting your own business!!

keithsfleet

I'm a bit like you OP.
Currently in a job I hate, working for a boss I hate.
I even hate the drive to work.
I hate the gloating look on my bosses face when he Let's me go 10 minutes early.

I can safely say I do not enjoy my job and need this kick up the ass before I turn into a certain movie character on my way home from work.

I have an idea of what I want to do but getting the start up funding will be difficult and having absolutely no joy saving for it.

magic_murph

It's a horrible predicament alright.
I must admit my current roles isn't exactly hell on earth it's more I feel totally Un-utilized. I could do my daily tasks in my sleep (Shame that I physically can't)

Given the right opportunity I know I am capable of a whole lot more - actually leaving the work place with a sense of accomplishment and satisfaction.

jimmii

If you really want to do it then you just have to do it. See if you can trial it in some way without having to fully commit. If its a product that you plan to manufacturer or sell then test it at fairs and approach some retailers to see if they will stock it and get some feed back from them. If its a service approach people you know who might need that service and see if they will let you try it on them. Doing that in your spare time is a good way to prepare for running your own business as working full time and doing your own thing part time will remove a lot of your free time in a similar way to working for yourself does.

No matter what you want to do you really, really, really should test the market first because working in a crap job for no money is better than going broke trying to live the dream with an idea that is never going to work. Also always try to have a partner it may seem like something not very appealing possibly but it gives you someone to share the bad days with as well as the good days and it will give you a second pair of eyes on everything.

lucky john

I couldn't wait to get out the school door after doing the leaving cert. Straight into a menial job and spent the next 15 years increasing hating it. By year 13 I started looking for a way out but with nothing more than an average leaving my options were limited.

My only asset was a few acres of land an uncle had left me so that was my starting point. I researched every possible use for it down to breeding rabbits for their meat. I went to every open day or info night for all kinds of hair brained ideas. Eventually I settled on one and then talked to as many people involved in that business as would talk to me. You learn alot once you know the right questions to ask.6

Duering holidays I did an intensive course to learn the business and duering the evenings I attended as many local enterprise board courses as were available. Luckily the banks were lending at the time so I used the land as collateral and borrowed £35,0000. I quit the job and worked day and night to set the businesses up. -2 stone and £40,000, I opened for business in November 1997. I employed 8 local people and 2 years later won best in ireland for the product we produced. I will always say it was the best decision I ever made.

The second best decision I ever made was to make the 15 people (including my wife) redundant in 2005 and close the business. I could write a book on the ups and downs of the years in between and to say you can hate the boss by times when you are the boss is not an understatement. The commitment involved is intense. When you are employing other people your decisions, good and bad, have a knock on effect on their lives.

I did one job interview just after closing the business. Even in the middle of the interview I knew I couldn't go back to answering to someone else again. So back to the drawings board only this time with €80, 000 debt and 3 kids. The land had a fair few buildings on it at this stage so I was able to find a very niche use for them that generated a small wage for myself and 1 part time employees. I also was offered another use for one of the buildings that involved 6 months unpaid training but once done I had a new skill. This involved making a product for the building industry. The product took off and I took on another full time worker. I was a lot more cautious this time round and keep things small but busy.

By the time the bust came I had diversified so even though turnover plummeted we kept the business from going under. The money owed by one contractor almost sank us but the decision to diversify and stay small saved the day. There has been a few lean years since 2008 but at this stage we have been developing a new range of products with any spare cash and preparing for the next chapter in 2014.

What I would say to the OP is, if you think working for an ungrateful boss is demoralising and tough I can guarantee you, been your own boss will be twice as bad. Of course the other extreme is also true. The absolute buzz and freedom of starting and building a business is hard to beat.

I'm not going to tell you to take the jump. I'm just giving you my experience. Its a huge decision and not to be taken without preparation, preparation, preparation. Would I make the same decision again? 100% YES.

OU812

When I was made redundant for the second time in three years.

Was a kick in the stomach, balls & enough of one to the ass to go do something for myself.

First thing didn't work out, now working on the second thing with a ridiculously small budget & a market outside of the US.

Having no money makes you think clearly.

magic_murph

Good comments guys - it's interesting hearing different thoughts on the same topic.

I am lucky enough that I don't have a horrible boss or conflict with other employee's - my issues are more relating to having a stifled feeling - not getting anywhere near the best out of my abilities. This feeling rings true for all the jobs I have had over the years.

I have the option of sitting back, collecting a paycheck and just living for the weekends. The idea of just going through the motions like this has never sat well with me hence the desire to break away and do something more fulfilling - in a perfect and ideal world allowing me to still lead the life style i have become used to.

I am not looking for an easy have my cake and eat it too situation but more spending my days working on something I feel has potential, enjoyable, profitable and enables me to actually enjoy the thoughts of work

lucky john

magic_murph wrote: »

Good comments guys - it's interesting hearing different thoughts on the same topic.

I am lucky enough that I don't have a horrible boss or conflict with other employee's - my issues are more relating to having a stifled feeling - not getting anywhere near the best out of my abilities. This feeling rings true for all the jobs I have had over the years.

I have the option of sitting back, collecting a paycheck and just living for the weekends. The idea of just going through the motions like this has never sat well with me hence the desire to break away and do something more fulfilling - in a perfect and ideal world allowing me to still lead the life style i have become used to.

I am not looking for an easy have my cake and eat it too situation but more spending my days working on something I feel has potential, enjoyable, profitable and enables me to actually enjoy the thoughts of work

This is not the book thread but if you had time you could read this book . The entrepreneur revolution. By Danial Priestly. You might find it interesting in the place you are in right now.

OU812

Bear in mind, if you become self employed, you pay a shot los of taxes & get nothing in return. Pension/Social Welfare etc

Gloomtastic!

OU812 wrote: »

Bear in mind, if you become self employed, you pay a shot los of taxes & get nothing in return. Pension/Social Welfare etc

But also remember, the bar stewards in Revenue can't steal the LPT from our wages!

Back on topic.....

OP there's a sticky thread that's crammed full of inspirational stories about people who have made the leap.

http://touch.boards.ie/thread/2055399358/14/#post85145919

All I'll say is 'Do it, review it, change it!' But you'll only ever know by doing it!

OU812

Gloomtastic! wrote: »

But also remember, the bar stewards in Revenue can't steal the LPT from our wages!

Back on topic.....

OP there's a sticky thread that's crammed full of inspirational stories about people who have made the leap.

http://touch.boards.ie/thread/2055399358/14/#post85145919

All I'll say is 'Do it, review it, change it!' But you'll only ever know by doing it!

No LPT = No Tax Clearance Cert

(Don't screw with Revenue, they will get their due)