Working for yourself .....good idea or too risky ?

United Kingdom
February 21, 2016 9:13am CST
I have had an offer from a friend to go into business. Actually it would just be making more official what we do now. For several years we have been knitting items to sell. We have sold online but as we have been working during the day too we have not really been able to devote the amount of time needed ....we have done okay but more of a hobby than anything else really. Our situations have changed now and she asked if we should think about making it more a job than a hobby. It will take a while to make any money and then we have to make enough to support two of us. The idea is knitting and selling wool and accessories. Working from our homes so little over heads. What do you think ?
13 people like this
18 responses
@marlina (154165)
• Canada
21 Feb 16
I don't think it is a good idea at all.
2 people like this
• United Kingdom
21 Feb 16
thanks for your comment .... can you say why ?
1 person likes this
@youless (112123)
• Guangzhou, China
22 Feb 16
I think it depends on whether it is worth for you to take such a risk. If you can see that the business goes well and it is not difficult for people to find a new job. Then it is fine to take such a risk.
1 person likes this
@suziecat7 (3350)
• Asheville, North Carolina
21 Feb 16
Sometimes you have to take chances. I agree that starting part time might be best but either way - go for it.
1 person likes this
@Teep11 (7674)
• United States
22 Feb 16
I think you should test it out. You never know what can become of it.
1 person likes this
@Scindhia (1906)
• India
22 Feb 16
Take time to think things through. A business venture is more time consuming and stressful than you might actually think.
1 person likes this
• Edinburgh, Scotland
21 Feb 16
Do it! If you don't you'll be forever wondering what might have been.
1 person likes this
@dodo19 (47117)
• Beaconsfield, Quebec
21 Feb 16
There is always some risk, when you start a business. you could maybe start part-time and see where it leads. It's worth a shot. You never know where it could lead you.
1 person likes this
@Rite17 (773)
• United Kingdom
21 Feb 16
As a fellow entrepreneur, a great job that you enjoy doing and pays well is spans from a hobby. If you can do, maybe go part time and see how things pan out. But do warn you that you will have to invest a whole lot of time and money before you find it starting to take off. I have been running my business online for a few years now and despite trying not to invest so much, it has got to that point now where it is now needed to go in the direction I want it to go. So currently planning how to get the funds together to invest in the business and ultimately grow as a whole. Can saefly say, total novice! But I love to learn and enjoy being creative! So talk with your soon to be business partner about budget planning and investments. The see about how you both can make things work for yourselves as well as for the business.
• Valdosta, Georgia
21 Feb 16
Going into business is very risky. I say this from experience because my husband owned a remodeling company for 11 years. If things are really slow at some points-which happened with my husbands company I think you should have a back up plan always. Make sure to always save money for the slower times-we had to learn this the hard way. I wish you the best of luck! =)
1 person likes this
@cherriefic (10400)
• Philippines
21 Feb 16
If you think that there's a market for that, then go for it! But you may want to still keep your regular jobs as it can take long before it can be profitable.
1 person likes this
@Poppylicious (11133)
21 Feb 16
Would there be enough money in it? I think you would need to do lots of research, see what the competition would be {both on and offline} and consider your options very carefully. Maybe it would be best keeping it as a hobby which earns you a bit of extra cash so that you stay in your current position and know that you still have a regular income coming in, something you can rely on.
1 person likes this
@Bella128 (2471)
• United States
21 Feb 16
It's risky but it can be done. You just need to find the right place to sell whether it be etsy, ebay, or your own website. There's a lot of options and I think it can be done.
1 person likes this
@fishtiger58 (29823)
• Momence, Illinois
21 Feb 16
It can be risky. You would have to have an inventory, make a bunch of stuff before you open the business. Much good luck with whatever you decide.
1 person likes this
@RaineyR (213)
21 Feb 16
It would be great to be your own boss! It just is a tough decision to make as you could end up hating having to knit! If knitting is a true hobby of yours, do you think being forces to monetise it would make you almost resent it? I love baking, but don't think I could do it as my main income, as I think it would take all the fun out of it. However my baking probably wouldn't make much money anyway lol!
1 person likes this
@Bluedoll (16774)
• Canada
22 Feb 16
It could be a great craft idea and who knows could lead to other things. The low overhead is really a plus. It might have limits though as to profit by the amount that could be produced?
@skysnap (20154)
22 Feb 16
I think it is too risky. lonely and also boring. If you remain alone then even if you make 1 million you lose the interest in money. so make sure that if you want to work yourself then you are going social with it. keeping people around is a good thing to do.
• United Kingdom
22 Feb 16
It would be myself and friend and we would do craft fayres as well as online.
@skysnap (20154)
22 Feb 16
@Traceyjayne then go for it. as long as it's just not you alone. because working alone has lot of psychological and physical issues. which is why i made that comment. I suffered in that personally with agoraphobia and social anxiety.
@whiteream (8567)
• United States
22 Feb 16
I would give it a change. you never know what's going to happen until you try.
@Aish94 (31)
• India
22 Feb 16
It is a risk, quite a big one actually, but only you can decide whether the potential payoff is worth this risk. Take into account your financial responsibilities and have a back up plan, especially for if the business doesn't pick up. It would be a shame if you end up pouring all your assets into one venture. Most importantly, is this something you genuinely think could work out as a full time career/ job for you? Be honest with yourself. Just because it was good as a hobby, doesn't mean it will pan out as your main source of income. Passion and motivation! If you got those two, am sure you will figure your way out of anything!