Hello Thanks for reading and in advance for any advice. :wave:
Current situation:
Current job hours have been cut by 80%, in a way its a blessing so I get more time to work on the FL process. I make enough to get by for all necessities like food rent etc. I have no wife, kids or any other responsibilities other than my job. I have 10-12hrs a day I can invest in some business Idea but no MONEY.
I have a business Idea that is related to what I do now. A big part of this Idea will require an Ipad app and a back end system that will cost about $2-$3k to develop. I dont like to borrow money and I dont know anyone right now that could lend it to me.
I think my options could be:
Option 1:
Using Wordpress Create a couple of websites (I have a few ideas ) that provide value and make the money necessary through them. I think it would take 2 weeks to learn Wordpress and the tools and techniques necessary to make money from them.
Problem with option 1: I have no prior experience in web development or in ebusiness. It will take 6 months to start making the money and to save it.
Option 2:
Partner with the owner of the company I work for.
The company I work for is a small company with about 20 employees. The owner is a nice guy but he is still a business person that is always looking to make money.
My Idea would in a way compete with my current employer but not directly. It would not take current business from my current employer but I would be taking future customers in different areas that he in the future would like to expand to. So I am sure my boss would be very interested in this.
Problem with option 2:
My Boss will want half of all profits from it. I think it would be fair because I would also use some of the resources he already has like, some employees, office, contacts, payroll.
Option 3:
Get another job and save up the money.
Problem with Option 3: It might take me as long as option 1 but at least with option 1 I will gain experience and might keep getting passive income after I put the time in.
What do you guys think? Is there a better way? Is there a way to make better use of the time I have to execute this idea?
As I finish writing this I am leaning more towards option 2. I guess it does help to write things down and look at all the options. But I would still like to know what you guys think.
Again thanks for reading.
Current situation:
Current job hours have been cut by 80%, in a way its a blessing so I get more time to work on the FL process. I make enough to get by for all necessities like food rent etc. I have no wife, kids or any other responsibilities other than my job. I have 10-12hrs a day I can invest in some business Idea but no MONEY.
I have a business Idea that is related to what I do now. A big part of this Idea will require an Ipad app and a back end system that will cost about $2-$3k to develop. I dont like to borrow money and I dont know anyone right now that could lend it to me.
I think my options could be:
Option 1:
Using Wordpress Create a couple of websites (I have a few ideas ) that provide value and make the money necessary through them. I think it would take 2 weeks to learn Wordpress and the tools and techniques necessary to make money from them.
Problem with option 1: I have no prior experience in web development or in ebusiness. It will take 6 months to start making the money and to save it.
Option 2:
Partner with the owner of the company I work for.
The company I work for is a small company with about 20 employees. The owner is a nice guy but he is still a business person that is always looking to make money.
My Idea would in a way compete with my current employer but not directly. It would not take current business from my current employer but I would be taking future customers in different areas that he in the future would like to expand to. So I am sure my boss would be very interested in this.
Problem with option 2:
My Boss will want half of all profits from it. I think it would be fair because I would also use some of the resources he already has like, some employees, office, contacts, payroll.
Option 3:
Get another job and save up the money.
Problem with Option 3: It might take me as long as option 1 but at least with option 1 I will gain experience and might keep getting passive income after I put the time in.
What do you guys think? Is there a better way? Is there a way to make better use of the time I have to execute this idea?
As I finish writing this I am leaning more towards option 2. I guess it does help to write things down and look at all the options. But I would still like to know what you guys think.
Again thanks for reading.
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