Comments on: Planning to Start a Business? Read This First http://studenomics.com/entrepreneurship/start-a-business/ Tue, 22 May 2012 12:21:22 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Panda Mike http://studenomics.com/entrepreneurship/start-a-business/#comment-29850 Panda Mike Tue, 25 May 2010 15:44:13 +0000 http://studenomics.com/?p=4457#comment-29850 I'd say that if you want to start your own business, you must be ready to live on a minimal income for a few years. Reinvesting my profit in my online company for the past 3 years was the best way to ensure its growth without financing and getting stuck with bank (or worst: family)'s engagements. I currently work full time and grow my business on the side. So instead of working extra hours at work, I put my "overtime" on my business. For 2 years, almost all money was reinvested in the company. We recently started to withdraw a few bucks per month as a "reward" of our hard work. Working part time will slow down your company progression but will avoid to jeopardize your financial situation (you don't want to go bankrupt at 25!). I’d say that if you want to start your own business, you must be ready to live on a minimal income for a few years. Reinvesting my profit in my online company for the past 3 years was the best way to ensure its growth without financing and getting stuck with bank (or worst: family)’s engagements.

I currently work full time and grow my business on the side. So instead of working extra hours at work, I put my “overtime” on my business. For 2 years, almost all money was reinvested in the company. We recently started to withdraw a few bucks per month as a “reward” of our hard work.

Working part time will slow down your company progression but will avoid to jeopardize your financial situation (you don’t want to go bankrupt at 25!).

]]> By: Financial Samurai http://studenomics.com/entrepreneurship/start-a-business/#comment-29772 Financial Samurai Mon, 24 May 2010 04:13:23 +0000 http://studenomics.com/?p=4457#comment-29772 I'd DEFINITELY gain some tier 1 corporate experience for the first couple years at least, while working on your entrepreneurial business on the side. If you never get the opportunity to work for a great corporation, then you might as well still work at whatever job you can and build your business up so you have something. I’d DEFINITELY gain some tier 1 corporate experience for the first couple years at least, while working on your entrepreneurial business on the side.

If you never get the opportunity to work for a great corporation, then you might as well still work at whatever job you can and build your business up so you have something.

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