Was approached today re: starting a business

I was approached today by a work colleague about starting up a (small) IT Support business.

The reason I would find this appealing is because I reckon he would structure the business very well, and yet he would basically let me keep all the profits from jobs I complete. It could potentially help me earn a lot more than I earn at my current job.

The negative, of course, is that the business might never take off and I would have to look for a job (whereas at the moment I have one even though it pays crap LOL).

He randomly gets calls all the time from small businesses that want him to help them with one thing or another (IT related stuff), but he says he doesn't have enough time with everything that is currently going on.

Do you guys reckon I should spend any thought/time into possibly forming a business, or should I leave things be and just look for a normal job?

 

I say go for it.

It depends solely on if you consider yourself educated enough to be able to handle the complications and challenges that a profession in IT may include. If, for the most part, you have a pretty decent understanding of what you should be doing, then I don't see a problem with it.

 

At the moment, my colleague and I both work in IT.

Although I wouldn't say I am deeply proficient, I would definitely say my colleague is, despite the fact that he is still in Uni.

My biggest concern isn't knowledge or understanding, it would probably be the business succeeding in general. I can't afford to not have a job LOL, but at the same time my colleague is making it sound like it isn't much of a gamble (and he doesn't need me to invest either, hence me being tempted as).

Ugh hard decision lol.

 

I would go for it too! In that business you would have the opportunity to expand and the freedom to manipulate the business how you want. Do you see your current position as one you want to keep for a long time?

 

My current position is just something I have had for during Uni, and assuming I pass exams this month I will be graduating from Uni.

IT wouldn't be relevant to my degree (emphasis in accounting), but I guess my accounting would come into play in a small/personal business.

 

Well it depends, do you find yourself a risk taker? Do you have enough money in your bank account to support you until you get it up and running, or if it fails to find another job? Is this person legit? There are several factors that should play into this decision.

 

I don't really have many bills at the moment. My husband can take care of them, although it would be a squeeze.

My colleague is legitimate I suppose, like I have said he doesn't want any money from me for starting this business, I think he is just trying to distance himself from this work place because they demand so much from him.

Uggh yeah like you said there is heaps to think about. Guess I'll have to think for awhile and not just for 1 day on Sythe LMFAO

 

Go for it and good luck.