If you were in my shoes

[Chomiyeon]

Hi ! I'm super torn and this undecision leads to procrastination to other areas of my life.

I figure why not seek advise from the great minds here.

So for context, I'm a recent graduate and just got a job three months ago but (thanks to TMF and Unscripted book it opened my mind to new possiblities) I'm planning to start my business on the side.

Since I'm from Asia I'll just convert the amounts in $ for easy reference.

My salary is around $700-$1000/ month (base pay plus commission so it varies)

Our office is 2 hours away from our home, but we're allowed to work from home now.

If I were to move out and live in that city near our office, it would cost me probably around $300+ (rent, food, etc)

For starter, I also figure it would be easier to start an agency offering lead gen service since this is also related to my work and it would be easier to sell to those businesses who needs more client.

I love the idea of moving away from my hometown and living on my own but the list of expenses stops me. Because I'm also wondering if I can just save those extra $$ to buy a starting property (house hacking - live on one unit and rent out the rest). It would take me about 1 year to save for downpayment tho.

So I'm torn between just staying home (work from home while building my agency) where my expenses is just around $100 and use the bulk of my salary to building my business. **My employer just wanted us to go to office here and there so it's okay to WFH**

Or move out ASAP. Face the unknown and pressure. Live on my own. Be expose to the world, as MJ also suggested on the book.

I'm overthinking over this stuff.

If you were in my shoes. What would you choose?

 

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[Kristjan]

Hi ! I'm super torn and this undecision leads to procrastination to other areas of my life.

I figure why not seek advise from the great minds here.

So for context, I'm a recent graduate and just got a job three months ago but (thanks to TMF and Unscripted book it opened my mind to new possiblities) I'm planning to start my business on the side.

Since I'm from Asia I'll just convert the amounts in $ for easy reference.

My salary is around $700-$1000/ month (base pay plus commission so it varies)

Our office is 2 hours away from our home, but we're allowed to work from home now.

If I were to move out and live in that city near our office, it would cost me probably around $300+ (rent, food, etc)

For starter, I also figure it would be easier to start an agency offering lead gen service since this is also related to my work and it would be easier to sell to those businesses who needs more client.

I love the idea of moving away from my hometown and living on my own but the list of expenses stops me. Because I'm also wondering if I can just save those extra $$ to buy a starting property (house hacking - live on one unit and rent out the rest). It would take me about 1 year to save for downpayment tho.

So I'm torn between just staying home (work from home while building my agency) where my expenses is just around $100 and use the bulk of my salary to building my business. **My employer just wanted us to go to office here and there so it's okay to WFH**

Or move out ASAP. Face the unknown and pressure. Live on my own. Be expose to the world, as MJ also suggested on the book.

I'm overthinking over this stuff.

If you were in my shoes. What would you choose?

If you are young and without kids then take the risks. You can always go back to the 9to5. If you succeed with your business, you never will tho

 

[Lyinx]

your road time (travel) is killing you and you don't even know it...

you go 2 hours to work every day (pre-covid)?
one way or both?
how much do you get paid per day? per hour? (including roadtime)?
now, figure out what you would be paid per hour if you lived closer (in that city) and how many hours you would have to work on your side project...

once you break it down this way, you might have your answer right there...

 

[Chomiyeon]

If you are young and without kids then take the risks. You can always go back to the 9to5. If you succeed with your business, you never will tho

I will start my side business either way. Just confuse and worried if I have to move out or stay at home while doing it.

 

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[Chomiyeon]

Thanks

your road time (travel) is killing you and you don't even know it...

you go 2 hours to work every day (pre-covid)?
one way or both?
how much do you get paid per day? per hour? (including roadtime)?
now, figure out what you would be paid per hour if you lived closer (in that city) and how many hours you would have to work on your side project...

once you break it down this way, you might have your answer right there...

Thanks! That's another factor to consider and to help me decide

 

[Chomiyeon]

Hi, you can try to go on risk but only if you have a plan B, or save some money in case if you fail, ideea with your business is good, like you work and live in the same building but at different floors, I think it's better to work in the same building so you could save some money and invest in your business.

Hi thanks for your input.

Yes I already saved some buffer if anything goes wrong. Hey, I like that analogy about the building. I also think it's a good way to bootstrap one's business.

 

[Christopher104]

Hi ! I'm super torn and this undecision leads to procrastination to other areas of my life.

I figure why not seek advise from the great minds here.

So for context, I'm a recent graduate and just got a job three months ago but (thanks to TMF and Unscripted book it opened my mind to new possiblities) I'm planning to start my business on the side.

Since I'm from Asia I'll just convert the amounts in $ for easy reference.

My salary is around $700-$1000/ month (base pay plus commission so it varies)

Our office is 2 hours away from our home, but we're allowed to work from home now.

If I were to move out and live in that city near our office, it would cost me probably around $300+ (rent, food, etc)

For starter, I also figure it would be easier to start an agency offering lead gen service since this is also related to my work and it would be easier to sell to those businesses who needs more client.

I love the idea of moving away from my hometown and living on my own but the list of expenses stops me. Because I'm also wondering if I can just save those extra $$ to buy a starting property (house hacking - live on one unit and rent out the rest). It would take me about 1 year to save for downpayment tho.

So I'm torn between just staying home (work from home while building my agency) where my expenses is just around $100 and use the bulk of my salary to building my business. **My employer just wanted us to go to office here and there so it's okay to WFH**

Or move out ASAP. Face the unknown and pressure. Live on my own. Be expose to the world, as MJ also suggested on the book.

I'm overthinking over this stuff.

If you were in my shoes. What would you choose?

Just stay home and save up that cash. I know people say time is $ so the two hour drive isnt good but honestly if the money is what's keeping the business from starting then just be patient and wait. (That is of course if it's a real estate business)

But on the other hand if you have another idea and need to learn a new skill then you'll need all the time you can get. That means I'd recommend moving out.

 

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[Anon79341]

I think if you'll have to spend a considerable amount of time commuting to your job each week/month then it would be wise to live nearby. Also, a new environment can give you a new/better perspective to be more motivated for work and build your agency.

I'd say is comes down to personal preference, if you feel great facing new challenges and experiences that could help you in your entrepreneurial journey.

 

[Chomiyeon]

Just stay home and save up that cash. I know people say time is $ so the two hour drive isnt good but honestly if the money is what's keeping the business from starting then just be patient and wait. (That is of course if it's a real estate business)

But on the other hand if you have another idea and need to learn a new skill then you'll need all the time you can get. That means I'd recommend moving out.

I agree with you that 2 hour drive is definitely not worth it at all. Luckily, we're still allowed to work from home now. I'm using my extra time (also I'm able to save a huge percentage of my income) and start building that agency on the side.

 

[Chomiyeon]

I think if you'll have to spend a considerable amount of time commuting to your job each week/month then it would be wise to live nearby. Also, a new environment can give you a new/better perspective to be more motivated for work and build your agency.

I'd say is comes down to personal preference, if you feel great facing new challenges and experiences that could help you in your entrepreneurial journey.

That's also what I'm thinking because I've been living in my hometown for more than two decades now and I think I need to be expose more to the world by moving out and yeah I hope it will give me new perspective in life.

Thank you @Christopher104 & @seb451 for your input and also for the others in this forum. Sometimes we really need others' perspective to really make a decision and plan ahead.

I do have a plan now. Staying for 6-10 months at home while saving most of my income also getting paid thru my side project/agency so I use some of that next year and move out. Hitting two birds with one stone. Then when I hit my target buffer and income I'm going to start looking for a duplex and start house hacking. (Of course, not everything will go after my plan and eventually something will come up and change the route but the final goal is still the same, build a business around CENTS framework and get out of this JOB matrix)

 

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