Quit the Corporate Grind to Work for Myself, AMA

I don't run a million dollar business and am not rich, not even close.

However, I decided the corporate grind was not for me anymore and quit to work for myself about 6 months ago. A couple of my entrepreneurial ventures are growing strong and going in the right direction, AMA.

what do you do?

congrats

He hooks Phone Post 3.0

Wes_Mantooth - what do you do?

I have three ventures I am working on right now.

The first is a business I started which imports and sells men's wedding bands (Tungsten Carbide bands). It's a very niche business and kind of a long story how I got into it but I would be happy to elaborate if anyone has interest. This is my main source of income at the moment.

The second is a business I own with one other person that helps small accounting firms and other small businesses (usually less than 4-5 ppl build and manage their websites and online marketing). This is a new venture and hasn't picked up a lot of traction yet but hoping to grow it now that tax season is over and these firms have more time to talk.

Third is a very new venture in the professional education/training market. Will be awhile until this business brings in revenue. It's a high risk/high reward start up.

GladiatorGannon - congrats

Thanks! At first it was difficult to sleep at night after I quit because I worked hard to get to where I was in the corporate world but as time passed I realized I had made the right decision.

Hawkeyez - 
GladiatorGannon - congrats

Thanks! At first it was difficult to sleep at night after I quit because I worked hard to get to where I was in the corporate world but as time passed I realized I had made the right decision.

Also, I still haven't replaced my salary I was making working in my previous job but I am hoping to do so in the next 3-4 months and life has been much better.

how has life been better when you don't know how much is coming in? or whatever is coming in you are happy with for the time being?

and what is about corp you hate? the sudden layoffs?

I want to work for myself soooo bad but I'm afraid to end up homeless

Op I skipped all others to ask, can u get me a Masonic wedding band cheap. If do pm me plz, I am very interested ! Phone Post 3.0

kao - how has life been better when you don't know how much is coming in? or whatever is coming in you are happy with for the time being?

and what is about corp you hate? the sudden layoffs?

You are right that it is a bit stressful not knowing how much income will be coming in, especially in the beginning. My goal before quitting was to reduce my expenses as much as possible. I got rid of my car payment (traded up for a very modest but paid off car), got rid of credit card debt, got rid of cable, etc.

There are great jobs in the corporate world but I didn't like my job or career path. I came from an accounting background (I am a CPA) and worked as a financial analyst before quitting. I couldn't see myself going on that path or playing corporate politics for the next 30 years.

YoungGunABKJ - Op I skipped all others to ask, can u get me a Masonic wedding band cheap. If do pm me plz, I am very interested ! Phone Post 3.0

I don't have any Masonic bands but I have some quality Tungsten Carbide bands through my website that you may like.

If you want to take a look and end up finding one you like, I would be happy to create a coupon code for you to get it at a really big discount.

Furious White Belt - I want to work for myself soooo bad but I'm afraid to end up homeless

I felt the same way at first. If you are seriously considering it, my advice would be to:

1. Get expenses down to a minimal.

2. Come up with a business plan and move forward on it as much as you can before quitting.

3. Quit on the best terms possible. Many companies will support you in this decision and even leave the door open to come back if you decide to.

Lux Fixxins - No question.

Just well wishes Phone Post 3.0

Thank you! VU

How much capital did you use and have in the bank to start your ring venture? Phone Post 3.0

beerbelly - How much capital did you use and have in the bank to start your ring venture? Phone Post 3.0

I had enough cash of my own saved up to cover living expenses for about 6 months but I only put about $500 into the ring business which was mostly used for my first inventory purchase.

I used a Wordpress Ecommerce template and read/watched a lot of online material to learn to build my website myself. I started selling on Ebay and then used advertising techniques to drive traffic to my website. I reinvested almost all profits from sales into more inventory purchases. After about 6 months that $500 has turned into $6,000 in inventory and $3,000 in cash in a business bank account.

Did you start out as supplemental income before quitting?

Good for you. I've been trying to figure out what online business I can start that relates to kickboxing. So far it seems like everything is already out there.

Hawkeyez - 
beerbelly - How much capital did you use and have in the bank to start your ring venture? Phone Post 3.0

I had enough cash of my own saved up to cover living expenses for about 6 months but I only put about $500 into the ring business which was mostly used for my first inventory purchase.

I used a Wordpress Ecommerce template and read/watched a lot of online material to learn to build my website myself. I started selling on Ebay and then used advertising techniques to drive traffic to my website. I reinvested almost all profits from sales into more inventory purchases. After about 6 months that $500 has turned into $6,000 in inventory and $3,000 in cash in a business bank account.

To put things in a perspective from a sales perspective, I did about $200 in revenue my first month and just kept adding inventory and advertising. I will do about $4,000 in revenue in April and hope to keep growing.

cdmontgo - Did you start out as supplemental income before quitting?

The only supplemental income I had when I quit was from a rental property (previous condo I used to live in and decided to rent instead of sell) which amounts to about $350 in profit a month. The online wedding band business launched the same month I quit.