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  1. #1
    Join Date
    Feb 2004
    Location
    Bay Area, CA
    Posts
    521

    Just took the plunge to work for myself full time!

    I've had my hosting business for about 4 years now. I've been doing it on the side and it has been hard to dedicate time to it. I just recently quit my day job to work on my hosting business as I felt with a little more dedication I could make it a viable venture.

    Checking back on my income over the years it has been steadily increasing by anywhere from $1000 - $4000/year. I'm curious if any other people have taken a similar route (started dedicated full time to their business) and noticed and increase in income after doing so?

    My logic tells me that if I am able to retain customers and keep an increasing positive income over the last 4 years without much effort, then full time effort should yield more rewards. Hope this isn't backwards for some bizarre reason

  2. #2
    Congratulations. It's a great feeling, isn't it?

  3. #3
    Join Date
    Apr 2010
    Location
    Shah Alam, Malaysia
    Posts
    240
    Firstly, Congratulations to finally take the plunge and go full time!
    Secondly, yes, it's logical to say that with part-time its already increasing what more if you can do it on a full time basis. Definitely the returns would be bigger.

    However, here's a few things that I'd like to highlight. Previously, you have your day job security as an income. So perhaps slight problems on the hosting may be seen as something 'mild' (because you may think that since it's just part time, if it's screwed, there's still your day job), however the same problem could be seen as a HUGE problem now that you are doing it full time (you are more worried because it's your only source of income now).

    Another thing to take note, is the fact that now, as your own boss, time management is even more crucial. Complacency is the mother of all failures. Some other times, you may also start to think "Oh yea, I'm good at this, yea, I'm gonna do good" and start to be over confident on a few things. You might even be a bit stingy in upgrading to better hardware (because you may think that the money is better saved - as this is your only source of income).

    I'm just highlighting a few potential pitfalls for you and not commenting you as a person as I don't know you.

    All in all, it's a bloody good feeling to be your own boss and to answer to nobody but yourself! Good luck with your hosting company and clients. I wish you all the best and may you hit 10k clients soon! (Or maybe you have hit em already?)
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  4. #4
    Join Date
    Oct 2001
    Location
    Ohio
    Posts
    8,535
    The primary thing I've found working from home (and when I was self-employed) was that organization is the key. In order to stay on task, and accomplish all the days goals, you have to stay organized. Have a list of duties that need performed daily, and then keep track of any little side tasks that need to be done.

    I have a large white board that is sectioned off for various purposes. In fact, right now, it's sectioned off 8 different times, so I should probably working and not playing on WHT. Without it, I would be completely lost and clueless on what needs done today. So, invest the time, and resources into getting organized now and stay disciplined and maintaining that organization.

  5. #5
    Join Date
    Feb 2004
    Location
    Bay Area, CA
    Posts
    521
    Thanks for the advice! I've thought about those issues and definitely crunched the numbers to make it work in my current financial standing. I actually have saved enough liquid to hold me over for a year in a worst case scenario (all my clients disappear for some reason).

    A whiteboard is on my list of items to pickup soon. My friend actually wanted to put some tasks on my whiteboard for me. I told him I didn't have one and he said it is an extremely helpful tool for task management and notes on the fly.

  6. #6
    Join Date
    Oct 2003
    Posts
    917
    Congratulations on the big move!!
    I'm in the process of setting up something similar myself and I will admit that time management is very very crucial. There have been some days where I don't know how the day just flew by and in the end I don't feel like I have accomplished enough. But now things are fine, especially with me having a things to do list for the day and organizing my time better.

    Please do come back and let us know how things go for you.

  7. #7
    Join Date
    Jun 2010
    Location
    Modesto California
    Posts
    6,858
    Its definitely a risk, I remember when I made that jump about 8 years ago? It will definitely force you to work harder as with no other income other than your business, you will be put in a do or die type of situation.

    The only set-back I can see for you is if you do not have enough money saved, you will be forced to spend more of your company income on personal needs (rather than putting it back into your company), which will hurt the growth of your business.

    Either way, I wish you the best of luck!
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  8. #8
    Join Date
    Oct 2010
    Location
    Australia
    Posts
    23
    Congratulations on the jump

    Obviously there's risk but there is with any business. As others said you will have to work a lot harder, but then we both know it won't bother you as your going to enjoy your new job so much more i hope you continue to grow over the next few years
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