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Posted by: Lee | 2013-01-16

Confused

My husband knows that i have been looking into starting a lil business for myself but i did not have the stuff i needed to start. Finances has always been an issue. With the cost of living being so high and realising that i cant survive with salary alone i visited the idea again towards the end of last year and we spoke about it in December. Last week i thought of a different angle that will not require more money and i started researching. I gave him my proposal on weekend and he liked it and encouraged me to go ahead with it. Obviously i''ve been spending most of my free time doing research.

My husband hates his job with a passion and is more of an entrepreneur and i have always supported him. He''s now thinking of leaving his job to focus on business and as scary as it is i do support him. He''s been into business before so he knows how it goes. Now monday night he asks me why do i wonna go into business now, what brought it up. I reminded him how i''ve always been talking about it and how i only thought of a different angle now. He doesnt believe me, he thinks im doing it either to impress him, to compete with him or i have alterior motives which i dont. He says he needs somebody to support him and if im now focusing on my business too i wont be there for him. And it brought out the issue we always have that i dont know how to be a woman if i was a good woman i would be saying ok i know i have this good idea and since my husband is going through this period let me just park it and be there for him so he gets his business off the groud and when he''s sorted i can focus on my own.

He wanted me to study which i didnt because i wasnt sure what i wanted to do between MSc and PDM so i asked him if its not the same. I''ll be attending after work or doing my assignments so i wont be home or free most of the time, is it not the same when im doing work for the business.

Please advice me here.

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Our users say:
Posted by: Sello | 2013-01-16

If you have debt, settle it - If both of you are currently formally employed, let one of you take the risk forst for now and can be joined by another partner later. Nothing prevents the working partner to assist after hours. Ive seen many people come into business and fail simply because they try to chase business in order to settle old debt. It doesnt work that way. Take it easy and ask the big question - who is going to buy the product? how will it sell? How does similar products if any perform in the market? As put by DH, if you have your own business - its hard work all the time. HARD WORK HARD WORK HARD WORK. Think like a Jew. Think like a Jew and THINK LIKE A JEW. Cash flow is key, CASH FLOW IS KING. Decide whether you are in business to make profit or you are in business to push turnover. Are you willing to go on an emty stomach? Are you willing to sell your house, move to a smaller flat and start from scratch? Are you willing to give up on you luxuries and stick to the basics for a while? CASH FLOW? CASH FLOW? CASH FLOW? Today rich people are entrepreneurs and not neccessarily educated people so there you are the sky is the limit. You have reached a very interesting stage in your life and you are about to make a big decision that is going to shape your life for ever. Visit web-sites of big companies and try to put yourself in the shoes of its executives - look at their portfolios and cv''s and try am compare yourserlf to those attributes. Think like a CEO

Reply to Sello
Posted by: DH | 2013-01-16

Which of the two businesses will make the most money? - Both of you should focus on that business together. Business is not about you or him, it is about pooling your resourcs and working your butts off together to make as much money as you can. My wife and I run a business together and we work very hard towards a common goal. Running your own business is very very hard work and you can only do it as a team, together.

Reply to DH

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