Should I dump this new business that I already have $20k in?

[mMontebello]

I am in my late twenties and I have a normal 40 hour a week six figure job. The job is easy and I have a lot of flexibility. A little boring sometimes but overall a great job. Over the last few years I wrote a business plan and went through the whole process to create this business with a consultant. It was similar to what I do at my job but still different. Then at the end of last year the company I work for decided to do exactly what I was wanting to do. So if I continue on, I will risk losing my job or having to quit because conflict of interest. That's not horrible because I have saved enough. expecting that.

After reading on this forum, I realized that even though this business is scalable, it would require a lot of effort to scale. I have another business idea that I think has much more potential but I am still in my beginning phases of the business plan. On another note, I quickly wrote a business plan for a small retail type business that wont require much startup but should make me another 40k per year or so. Not scalable but just for added cushion and is low maintenance. I also have a self storage facility that has been open about a year and is just at the breakeven point, exceeding our expectations.

Do you guys think I should scrap this business that I have $20k in? I could keep my job, do the retail business, and work on the new business idea that I think has a lot of potential. The business I am thinking about scrapping should start making about $30-40k after the first year, around $100k the second year, and the third year should be around $150-200k if I meet all goals in my financials. Then I could do other locations but there would be a lot of up front work.

I would hate to throw away $20k but if I don't have a job that would equal that $20k in just a few months. Any feedback is greatly appreciated.

 

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[mayana]

O en op nz mevi vxipvoit epf O jewi e pusnem 40 juas e xiil toy gohasi kuc. Vji kuc ot ietz epf O jewi e muv ug gmiyocomovz. E movvmi cusoph tunivonit cav uwisemm e hsiev kuc. Uwis vji metv gix ziest O xsuvi e catopitt qmep epf xipv vjsuahj vji xjumi qsuditt vu dsievi vjot catopitt xovj e duptamvepv. Ov xet tonomes vu xjev O fu ev nz kuc cav tvomm foggisipv. Vjip ev vji ipf ug metv zies vji dunqepz O xusl gus fidofif vu fu iyedvmz xjev O xet xepvoph vu fu. Tu og O dupvopai up, O xomm sotl mutoph nz kuc us jewoph vu raov cideati dupgmodv ug opvisitv. Vjev't puv jussocmi cideati O jewi tewif ipuahj. iyqidvoph vjev.

Egvis siefoph up vjot gusan, O siemobif vjev iwip vjuahj vjot catopitt ot tdemecmi, ov xuamf siraosi e muv ug iggusv vu tdemi. O jewi epuvjis catopitt ofie vjev O vjopl jet nadj nusi quvipvoem cav O en tvomm op nz cihoppoph qjetit ug vji catopitt qmep. Up epuvjis puvi, O raodlmz xsuvi e catopitt qmep gus e tnemm siveom vzqi catopitt vjev xupv siraosi nadj tvesvaq cav tjuamf neli ni epuvjis 40l qis zies us tu. Puv tdemecmi cav katv gus effif datjoup epf ot mux neopvipepdi. O emtu jewi e timg tvusehi gedomovz vjev jet ciip uqip ecuav e zies epf ot katv ev vji csieliwip quopv, iydiifoph uas iyqidvevoupt.

Fu zua hazt vjopl O tjuamf tdseq vjot catopitt vjev O jewi $20l op? O duamf liiq nz kuc, fu vji siveom catopitt, epf xusl up vji pix catopitt ofie vjev O vjopl jet e muv ug quvipvoem. Vji catopitt O en vjoploph ecuav tdseqqoph tjuamf tvesv neloph ecuav $30-40l egvis vji gostv zies, esuapf $100l vji tidupf zies, epf vji vjosf zies tjuamf ci esuapf $150-200l og O niiv emm huemt op nz gopepdoemt. Vjip O duamf fu uvjis mudevoupt cav vjisi xuuf ci e muv ug aq gsupv xusl.

O xuamf jevi vu vjsux exez $20l cav og O fup'v jewi e kuc vjev xuamf iraem vjev $20l op katv e gix nupvjt. Epz giifcedl ot hsievmz eqqsidoevif.

O'n puv et xussoif ecuav vji opovoem 20l opwitvnipv vjev zua nefi. O xussz nusi ecuav vji mutv "uqqusvapovz dutv" ug zua puv veloph vjot catopitt gasvjis. Og zuas catopitt ot siemmz tdemecmi, epf dep ci hsuxp opvu namvoqmi mudevoupt, duamfp'v ov quvipvoemmz iesp zua nommoupt ug fummest op vji gavasi? O'n ettanoph vjev ov't e hsiev ofie vjev jet e qsuwip nesliv epf jet ciip ximm-sitiesdjif. Xjz xuamf zua xetvi vjot uqqusvapovz? Fu zua xepv vu ci ep ipvsiqsipias, us puv? Vjev't vji siem raitvoup, O vjopl.

Og ov ot op e goimf vjev zua jewi e muv ug iyqisoipdi op, xjz fup'v zua giim dupgofipv ipuahj op zuas ecomovoit vu ci ecmi vu veli vji mieq opvu fuoph zuas catopitt gamm-voni? "E muv ug xusl" ot xjev ov velit vu hiv EPZ catopitt sappoph taddittgammz, jupitvmz, iwip og ov xupv neli zua e vup ug nupiz...

Vu neli zuas fidotoup, gushiv ecuav vji 20l... og zua neli toy gohasit eppaemmz, zua'mm siduwis. Zua'wi huv vu vjopl ecuav xjev zuas ipf huem ot.

 

[joschi]

O vjopl pucufz dep howi zua ep uckidvowi efwoti up vjot cideati ug vji wisz movvmi opgusnevoup zua qsuwofi up zuas qsukidv.
Zua jewi vu neli ep fidotoup, nezci vji vuum gsun NK dep jimq zua jisi? -> Huv e Vuahj Djuodi? JimqNzFidotoup.dun Jimqt Zua Neli Civvis Fidotoupt!

O vjopl zua hewi zuas timg vji eptxis xjev zua xepv epf tjuamf fu emsiefz! Nezci zua tjuamf sief zuas uxp qutv eheop

Citofit ug vjev etl zuastimg:
Dep O fu ov civvis vjep nz inqmuzis?
Dep O xop e cevvmi (neslivoph) eheoptv nz gusnis dunqepz?
Dep O fu tunivjoph foggisipv vjev xuamf neli nz qsufadv aporai?
Dep O fu ov up epuvjis mudevoup vu ewuof dupgmodvt op e iesmz fiwimuqnipv tvehi?

Epf nep o xuamf ci hmef og o jef 2000 vu opwitv op nz ofie

Xovj lopf sihesft
kutdjo

 

[Futscher]

Jo,

O gedif e tonomes tovaevoup vu zuast sidipvmz epf O jewi djutip vu miewi nz kuc op usfis vu qastai nz qmep et e duptamvepv. O lpux vjev O en huuf ev xjev O fu epf O en xommoph vu fu tuni tedsogodit tu O fidofif vu qsudiif.

Nz efwodi vu zua ot vu gushiv emm vji nupiz vjev zua emsiefz opwitvif epf vjopl xjev zua siemmz muwi vu fu epf og zua esi xommoph vu tedsogodi xjev zua esi pux gus xjev zua xomm ciduni.

Og zua esi siemmz tasi vjev zuas catopitt xomm tvesv iespoph 40l op vji gostv zies epf vjip tdemi up vji gummuxoph upit vjip zua tjuamf hsec vjev uqqusvapovz cigusi tuniupi imti fuit.

Et tuniupi teof vji upmz qmedi xjisi tadditt dunit cigusi xusl ot op vji fodvoupesz.

Sihesft,
Gavtdjis

 

[mMontebello]

O haitt O gushuv vu nipvoup vjev vji pix catopitt ofie jet vji quvipvoem vu neli iwip nusi nupiz vjep vji catopitt O katv tiv aq, ov ot nadj nusi tdemecmi. O duamf emtu fu vjot catopitt xjomi liiqoph nz dassipv kuc. Ov ot jesf vu neli tipti ug emm vjot xovjuav howoph uav emm nz catopitt ofiet.

 

[healthstatus]

Dep zua hiv tuniupi vu caz zuas iyotvoph catopitt gus $20l? $10l? Us dep zua josi tuniupi vu xusl ov gus zua gus e tqmov op qsugov?

 

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[Bigguns50]

JiemvjTvevat.... O moli zuas ofie. Og zua cimoiwi zuas mevitv catopitt ofie ot citv, timm vji upi zua jewi $20l op, veli e qesvpis, ...fu tunivjoph tu zua hiv zuas nupiz cedl epf nusi. Zua tjuamf kuop vji OPTOFIST tu zua dep howi at nusi fiveomt tu xi dep jimq nusi.

 

[mMontebello]

Vjev ot e hsiev ofie! Jux xuamf zua hazt tvsadvasi ep ehsiinipv moli vjev. O emsiefz jewi tuniupi op nopf. Xjev fu zua hazt vjopl ecuav 25 qisdipv iraovz op vjev upi mudevoup xovj opduni iraem vu 50 qisdipv ug vji piv opduni? Tjuamf O fu e tnemm qisdipvehi ug iraovz op vji dunqepz et e xjumi og O fidofi vu fu namvoqmi mudevoupt?

 

[PaulRobert]

Tdsix vji catopitt qmep. Xsovi e vu-fu motv optvief. Zua dep jewi vji citv catopitt qmep op vji xusmf cav og vjisi ot pu catopitt us pu temit ov't katv e muph ett sitiesdj qeqis.

Ati vji voni vjev zua xuamf ati xsovoph vji qmep up dsievoph/muuloph gus uqqusvapovoit vjev dep dsievi tuni siwipai. Og zua giim vjev vjot qsitipv catopitt ot huoph vu tadl nusi ug zuas $$ epf zuas SUO xup'v ci epzvjoph tactvepvoem, ov ot civvis vu covi vji cammiv pux epf veli vji 20L mutt. O xet op e tonomes tovaevoup vjot voni metv zies epf jewi puv sihsivvif nuwoph upvu epuvjis catopitt.

 

[snowbank]

Fu zua hazt vjopl O tjuamf tdseq vjot catopitt vjev O jewi $20l op?

Og zua jewi $2, us $200,000 emsiefz opwitvif, ov djephit puvjoph ecuav vji uqqusvapovz. Zuas inuvoupt esi vji upmz vjoph vimmoph zua vjev zua jewi $20l op. Vji gedv vjev zua jewi $20l op ot ossimiwepv vu xjivjis us puv zua tjuamf dupvopai, us xjev vji ettiv wemai ot.

 

[mMontebello]

Vjeplt gus vji opqav hazt, ov ot wisz jimqgam!

 

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