No time to waste

It’s that time of the year.

Four months ago, I set a goal for myself. The goal was to have my own small business set up and running and making some kind of cash by this time of year, just enough money to be able to leave my job in February.

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Sadly, it looks like that isn’t going to happen by February after all, so I’m moving the goalpost, but not giving up on my goal. I have decided that I have less than two months to start generating some side income.

I’m aware that there is no time to waste, but with the holidays coming up, there are going to be some engagements I will not be able to blow off, and some others in which I will actually want to participate.

We are going slowly but surely… I say “we” because my brother is also helping out. He has become a valuable partner in the operation of things.

We are both working our day jobs and working on our project on nights and weekends.

It looks like I will not be able to quit in February, but if the business is up and running by then, it will be a great start. It will be a matter of months before we start making some money.

discussion:
Have you started a small business before?

How long did it take you to get it up and running?

Of the entire process, what was the hardest part for you?

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9 thoughts on “No time to waste

  1. I can’t help you with the small business idea but I wish you well. I was a teacher for nearly 30 years and for a lot of that time I wanted to quit and do something different. I didn’t I stayed because of golden handcuffs. The money wasn’t bad, the holidays were better and the pension wasn’t something I thought of unduly at the time but now in retirement I am very grateful to have it. If your current job doesn’t offer you enough advantages it will be easier to quit and make a success of something different. And you have time on your side.

    Liked by 1 person

    1. Thank you Corinne. In my case, my job offers some good things, but also some bad things. But it was made very clear to me last year, that there were only two things I could do, and since one of them is out of the question, there was only one thing I could do, and that is to start my own thing.

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  2. I think as far as the tax man is concerned in the UK you need to make a profit within the first 4 years. Otherwise it is considered a hobby – whether that is a theory or just what I’ve always been led to believe from my father I’m not sure now.

    Our family business has been running for at least 10 years now and I don’t know how long before a profit was made. I’ve only just started working with the business.

    I used to live next door to a lady who started up a sandwich shop – her first ever business. She just about broke even in the first year. I think it depends on an awful lot of things as to how long it takes. Before she took on the lease of the premises she had to show business plans etc. From then until opening the shop it was about 5 months I think once all the paperwork was signed.

    Good luck with it all though but I agree with Corinne, keep the day job going or work part time once your own business begins. If all goes wrong you’ve still got another wage coming in. This is what I do and my friend who has the sandwich shop.

    Liked by 1 person

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