So, right now I'm a UI/UX designer for a tech company and I make $130k working remotely, but I've always wanted to own my own business. This year, I started shooting real estate photos and videos as a side hustle (as well as videos for other small businesses), I make about $3k a month with it at the moment, but it would be great if I could do it full time and go all in to try to scale this up as much as possible. Getting the first couple clients wasn't easy, but I'm getting more and more, and I'm hoping it ramps up even more the start of next year. But I realize to replace my salary I'd probably need to get to at least $20k a month or so when you factor in businesses expenses, health insurance, retirement… etc.
I dunno, am I crazy? I'm 34, married, and have a 3-year old. I don't particularly like my current job, it's okay, but there are times when I absolutely loath it. I just want to be a good role model for my son, show him what hard work can achieve, and do my best to provide as much as I can for my family. I've heard that you'll never be wealthy being an employee, and owning a business is where you can really make the big bucks. But I know that most businesses fail, I know it's absolutely not a guarantee. Trust me, I don't have high expectations, I don't think I'll be a millionaire in the next year or two. And I know I'll have to work incredibly hard.
Anyway, would love to hear from anyone that was in a similar position. Thank you.
Am I crazy for trying to start a media company when I currently have a six figure remote corporate job?
byu/idontwearpants inEntrepreneur
Posted by idontwearpants
4 Comments
What is your savings like? Do you have at least 6 months worth of pay to take the time to scale up?
So maybe a little insight. I had a 127k corporate job with a business on the side generating 6k a month in revenue. I quit when I had a 1 year runway and a profitable business. 6 months later I generate 35-40k a month.
Finding a job right now is basically impossible, and I highly recommend you don’t quit unless you have a decent runway and existing business revenue. Reversing the decision might take longer than expected.
It’s not crazy, but don’t be stupid… I could have milked my old remote job for another 6 months with 30min of work a day. Keeping my insurance a little longer would have come in handy as well. Just be strategic when you take this step and recognize the risks before you make a decision that could strand you.
Not crazy at all man, but maybe don’t go cold turkey just yet? You’re already pulling 3k/month on the side which is solid – why not keep building that while you’ve got the safety net of your day job. Once you hit like 8-10k consistently for a few months, then you can start thinking about the jump. Having a 3 year old changes the risk calculus big time
you are not crazy! having paying clients is already a huge achievement… i have seen people quit even before that. iyam keeping your job while testing the waters is the smart move.