Going from being employed to being self-employed?

France
March 27, 2007 7:13am CST
Has anyone here made the leap from being employed and doing their own business in their 'spare time', and going fully self employed? I already have all the tax paperwork in place, I've been filling out a tax assessment on my little business for several years now. I'm almost ready to give up the day job though and try to build my business into something that can support us. I'd love to hear any general advice, tips, suggestions etc on how to do this as painlesslay as possible. I've already done a very careful household budget so I know how much I'd need to make a month, and I'm pretty sure I could pick up some part time work if things got tight. Everyone who has done this though is likelyto have different advice and it would be great to hear it!
1 person likes this
3 responses
villageanne
@villageanne (8553)
• United States
28 Mar 07
Congradulation on your new venture. I am sure you will be fine. I have a brother that has 3 different companys now. He stared with just a small business. Now he ships things lumber and logs overseas even. His companys are scattered all over the state now.
peavey
@peavey (16936)
• United States
28 Mar 07
I've been self employed for 9 years now, and one thing I can tell you is that if you do make good money being self employed, don't bank on it continuing, but build up savings from it, to get you through the hard times. There will always be hard times, but there will be good times, too. It takes discipline to not think of all the things you can afford when the money is in your pocket, but put yourself on a budget and stick to it. Good luck!
laltu86
@laltu86 (1249)
• India
27 Mar 07
i would like to express my best regards to your carrer in the first hand, now i am a novice in all this but still i want to point out that there is a big difference between spare time self-employment and full-time , in the former you have a fixed income + the extra , but in the latter you will have just the extra , though i am not telling that the profit in full time is less all i want to say is that the risk here is higher. All i want to say is that be open in your ideas and look before you leap.