Posted by: Buzz | 2005/11/25

Cold feet?

What do you do when your dream is (almost) realised, but you get cold feet and walk away???

Spent the whole morning at the bank, my application for a (huge) loan was finally approved. But I got cold feet, told Mugg & Bean I can't go ahead with the purchase of the franchise in a new shopping centre (opening in July 06) close to our home.

I am so disappointed in myself. But if it didn't work, we would have lost everything, and I have three children. What an anti-climax!!!

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Our expert says:
Expert ImageCyberShrink

HMm, sorry to hear of your dilemma Buzz. They always caricature the Bartender in a pub as listening to people's problems and giving advice --- you'd be dandy at that role --- and combining it with coffee might be even healthier ! No, this is understandable caution. It could be a great chance, but not if it's failure would lead you to lose everything. One needs to take sensible gambles, but never if they would leave you running on empty. Maybe a different, less expensive opportunity might turn up ? Is there someone else, with more funds, who might join you in such a venture, diluting the risk ?

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Our users say:
Posted by: figured it out | 2005/11/28

Its not that you cannot afford the new venture, its that you fear failure. Is there any reason why it should fail? If not, then take the risk.

If you dont like the long hours, and think that could strain you guys, then think of something else.

You can afford the risk, the bank has approved the loan, which they would not apporve of if they felt the project would not work. So they have faith in you, I still believe you can make it work.

Reply to figured it out
Posted by: Buzz | 2005/11/27

Thanks FIO and ..., for your encouraging words. I think you're right ... , it's more fear than intuition. My husband wants me to go ahead with this, but I can't. Fifty percent of the startup costs, must be paid in cash. This is almost all of our life savings!!! Bear in mind, my husband is not a youngster anymore, and can't afford huge loss at this stage of his life. The other 50% was the loan approved by the bank on Friday. So if we lose our savings, we'll manage, but having to pay the bank back, would be a hell of a financial strain. The only negative thing about this (as far as hubby is concerned), is the hours I would work and be away from home. He's rather spoilt, always having me around.

Like CS said, I'll have to look for something else, on a smaller financial scale.

Reply to Buzz
Posted by: ... | 2005/11/25

Sorry Buzz... it is difficult to give up on a dream - but I tend to agree that you should listen to your instinct... the only problem is ... are we always sure when it's instinct or when it's fear!!! .... either way... you've made a decision and it's not to say that you won't still get to live that dream... it might just be a bit delayed in its fruition... it's not easy taking the risk when you have children to consider... but remember they won't always be dependent on you financially and if you're wise now... you can go quite moggy later...don't be so disappointed in yourself... you're doing what you feel is right! it's when we do what we know is wrong when we should feel disappointed.............

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Posted by: figured it out | 2005/11/25

There are two things here, one is your drive and determination to make it work, your belief in it, otherwise you would never have entertained the idea in the first place.

The second is a leading brand name that never fails. Your abilities would build on an existing brand through your excelleant sevice and hospitality. the things that give a place character, feeling, which patrons always come for. That is the personality you gve the place that would make it a success.

Get on the phone and get the plan back in to acion. you will not lose! Nothing ventured, nothing gained. You have so much to gain that aspire to, dream of, and from this forum I believe you will do damn well at.

Get it back! There are a number of franchises I wanted to start, but didn't have the capital. I knew/know I would make a success, because its service orientated, people orientated, and its something you clearly understand too!!!

Get it back!!!

Reply to figured it out
Posted by: Buzz | 2005/11/25

CS, how I laughed thinking about myself as a caricature! Thanks for your usual wise words.

Reply to Buzz
Posted by: Buzz | 2005/11/25

Frusty it's a feeling difficult to describe. You are so right Shakira, I should trust my intuition - it's never let me down.

Geez I was just looking at all the happenings around here today, lots of catching up to do.

Have a great weekend guys.

Reply to Buzz
Posted by: Shakira | 2005/11/25

Buzz, I believe that we each carry strong intuition within us. Some people are more tuned in to it, and by knowing you from this forum, you have incredible wisdom, which will guide you in differenciating between rational and irrational fear. Trust yourself (and your intuition) enough that you made the right decision.
Must be a sucky feeling though. Time for some chocolate to get those endorphins going ;)

Reply to Shakira
Posted by: Frusty | 2005/11/25

Oh dear, Buzz, I can't even begin to imagine what you are feeling right now. All the "what if's".

Reply to Frusty

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