Should I Start My Own Business?

[hypersocial]

Is it really that easy to try and give up existing job as employee?

Is it really that easy to success in your own business?

Is it really that easy can come back to work as employee after failed?

My personal opinion is if "easy" is the way your mindset is, then you better not try out.

I believe "hard" is the mindset you should prepare yourself with when you want to come out on your own. As many of the bros have pointed out here, 80% failure rate is normal for start-up entrepreneur in S'pore. And knowing the industry inside out, well prepared for any obstacles, enough capital funding, work twice harder than when employed and lastly luck and timing are all crucial for the success!!!

Personally I do support the idea of entrepreneurship!!! As long as you are prepared, with a little bit of timing & luck, you might succeed!!!

Good Luck if your are going for it!!!

[triton]

if you want to start out part time on your own, by all means go ahead. but make sure it does not clash with your existing job. worse, if your existing boss finds out that you are moonlighting and in same trade, prepare to walk through the door.

if there is no clash of interests, how are you going to manage your new business and existing work? if your new business requires face-to-face meet up with clients, how can you manage without someone seeing you and reporting you?

unless you are prepare to bite the bullet and lose existing job, then i say go for broke. why work behind which you cant put in 100% effort and concentration?

it is not about the age. you can be 50 and going for career change. why? because my course mates, some of them are preparing for career 'extension' or change.

back to setting up of business, your consultancy business do look like low capital input which is good. so you need to work out your ROI. however in this consultancy business, you need to have a wide network.

[ckhouse80]

thanks for all bros, all of u guys provided me a lot of information.