It’s a hard balance to strike – the security of full-time work vs the unpredictable self-employment realm. For now, I really enjoy the stability of my current job, and have to feel content to approach my side business as a hobby. I know it could be more successful with more effort, but I also want to have an enjoyable life and successful marriage – all which vie for those few spare nighttime hours…

Yes, it will be a struggle, and there is no easy way to go about it, but it is wonderful not being a slave to others and having someone else dictate your life.

I work more hours than most people who work simple 9-5, but I am Free-er. I can dictate my own schedule.

Plus, I get to do what I love, instead of doing what others love me to do.

One tip I have to offer is to make sure that you have a plan. Be careful about friends and family giving too much advice and try to associate with people that you know already run successful businesses. Don’t be scared to ask these people lots of questions. If you don’t know anyone then ask strangers. Don’t get too personal like asking ‘How much money do you make?’. Ask things like ‘You seem to do very well in running your own business, you must be very disciplined and hard working. Do you mind giving me an insight into some of the tips and tricks for new people just starting out in their first business?’

You may just be pleasantly surprised how willing that person may be in helping. I knoe that eveytime I have been asked similar things, I am only too happy to convey my own thoughts an experiences. Business owners are often very proud of their achievements and love to be recognised for this.

There are pros and cons and I won’t bore you with the list of each as I am sure you know. It’s not all it’s cracked up to be. . .but. . .a big but. . .there is some security in that you can never be downsized or laid off – you can only fail, semi-succeed or vastly succeed. You control your own destiny to a certain extent. You can also go in different directions and even sell it and make some coin if you play your cards right.

You didn’t provide details about your own business so I will just comment on mine – the majority reason of why many businesses in my industry fail is being undercapitalized.

In that, being a “savingadvicee” make work against you, in that doing everything on a shoestring and with minimal debt may not be the best course. There are times when your collections/revenue may be down and you need to survive on a free flow of credit. You may want to act counterintuitively and spend when you think you should save. Of course, nothing can drag you down financially like a failing business. . .but in your business plan, you should plan for months where there are lean times.

That’s all I can think of. Good luck.