Friday, September 20, 2013

On the Business path: Full time Vs. Part time

Now we come to the part where you have to decide if you want to risk it all and go full time or be a little hesitant and be a part time until you feel comfortable about being on your own. There are two schools of thoughts, one which says that you should go full time and the other one says that go part time first. Now I will elaborate both of them to see and will give you my view and then you decide what path you want to take. The people who advocate taking the full time route say that if you take one you are devoting all your energies and effort in that venture wholly, there is no distraction of any sort. Your sleeping, waking, walking and doing all kinds of chores you are always thinking about how to grow your business and how to maximize your revenue. But for this to happen, they say that you need to have at least six to eight months of your living expenses stashed away in a savings account. And the above living expenses are just for that like your mortgage (if you have one), your utilities, grocery, medical emergencies and other miscellaneous expenses. In some countries these expenses can increase of decrease depending upon where you are living and if you own your own house or if you live with your parents or not. And this expenses are just the beginning since the amount of money you want to invest will vary depending upon what you kind of business you want.

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