Hi,
My name is Anthony and I am 28 yrs old, currently working as a product development manager full time (50K before taxes). About 3 years ago my wife started selling home décor on etsy. After a year I started helping her and now we are at about $25,000 in six months (not just on etsy) with 55% margins, with almost no marketing or advertising. I want to quit my job and go full time into our business, however I am now in a dilemma. Due to the extra hours invested in work (and a family, I have 3 boys) and loss of sleep I am having some blood pressure issues and need to cut back on the hours invested. We recently used a lot of our savings to get out of student loan debt and We have reinvested almost all profits back into the business purchasing equipment and a building, so my cash reserves are low.
The question is would you advise that I quit my job and go for it with about 3 months savings for expenses? Or just slow everything down and wait until I have months to a year of living expenses saved?
all advice would be considered and appreciated.
Thanks
My name is Anthony and I am 28 yrs old, currently working as a product development manager full time (50K before taxes). About 3 years ago my wife started selling home décor on etsy. After a year I started helping her and now we are at about $25,000 in six months (not just on etsy) with 55% margins, with almost no marketing or advertising. I want to quit my job and go full time into our business, however I am now in a dilemma. Due to the extra hours invested in work (and a family, I have 3 boys) and loss of sleep I am having some blood pressure issues and need to cut back on the hours invested. We recently used a lot of our savings to get out of student loan debt and We have reinvested almost all profits back into the business purchasing equipment and a building, so my cash reserves are low.
The question is would you advise that I quit my job and go for it with about 3 months savings for expenses? Or just slow everything down and wait until I have months to a year of living expenses saved?
all advice would be considered and appreciated.
Thanks
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