Here's a little honesty.
This generally means spending more money on a new idea. I have been cycling this pattern for 3 year now. I am on my third iteration of a business idea, each time investing what little money I have into the idea. I am now cycling into a fourth business idea. This is an online concept which is focused on assisting the 60+ age group reenter the work force. This is my first business venture that is actually built around 'helping' someone else.
But, I don't have the income to continue to pay for the training and technological part of getting this off the ground. I am still heavily involved in my previous business venture which is time consuming and only paying about $900 a month. My wife is covering almost all the bills now. Especially our mortgage.
I am afraid I will dwindle away what little money I have left. A little honesty. I am near 50 years old with zero that's $0.00 in savings. Neither me, nor my wife have anything put away and I am scared. Very scared.
I am beginning to think I am on my last hope. If this new venture does not pan out I may be living on the streets. Although my wife says that will never happen.
You see up until 2010 I was the making good money. At least relative to my living habits. But, one day I just couldn't take the corporate rat race I was running. I talked with my wife and she supported my decision to leave my position.
I wonder if this was a good idea. My wife says it was. She says I am much funnier and happier than before. But funny and happy don't pay the bills.
I found it very difficult to get re-employed. I tried my hand at art, I really enjoyed it but quickly found this was not going to pay the bills. I then got a part - time job at a fold -n- wash laundry service. That was an eye opener.
Then in 2011 I think I hit a midlife crisis. I started blowing through my retirement. I bought a sailboat thinking I was going to be a party boat captain. Never mind I live in central Texas where the drought has all but dried up any lake that I would have worked. Not to mention I really don't like being on the water. Next to it yes, but on it in a boat, no. God smiled on me and a freak wind stormed destroyed the boat. I triple what the boat was purchased for.
I then spent 2012 and $35,000 launching a food trailer business. This lasted one year. I was able to sell the trailer for $7,000. That's a net loss of $28,000. The loss was probably much greater.
This led me into my next adventure in 2013 where I decided to go into the restaurant management scene with a couple of food trailer guys I met. This has been rocky at best. We are up to our eyeball is tax debt, can't pay the rent on the restaurant, and I am not sure if we are going to be able to cover payroll for our 10 employees next week.
I think I need help. Not as in, "please send me money'' but as in emotional and spiritual help. I can't seem to get my ship heading in the write direction. Do you ever feel like you're just circling round and round? I think that's where I am right now.
I've been out of the work force now for 3 years. The longer I am out the harder I think it will be to reenter. Plus I have the entrepreneur bug and can't imagine working for someone else. But I think I am going to have to rethink that in the very near future. Again I am scared. Really.
I am spending about $100 a month on a training class to launch a business online. I believe the course to be good information and the teacher to be valid and true. I have also found I really enjoy writing. Which this would allow me to write and make a living. I just don't know how much longer I can output $100 a month to continue the training. That's the rub.
Well, thanks for reading! I'd love to get your feed back on what I have written above. Am I an idiot for trying all these things? Am I irresponsible? I think I am one of the most responsible people around. Especially when I sit, meet and talk with other business owners.
Well, thanks for reading...... that was a little honesty from me to you.
I look forward to hearing from you!
Tony.