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1. Can you contract out any elements of consulting work to others to free up time? Perhaps some of the lower-value work? You'll make the spread b/w the rate you get and what you pay them. You'll profit less but gain incremental hours for your venture. 2. Pick or find consulting work that "scales well" meaning it allows you to leverage (sorry for jargon) knowledge/things you've already done or built. This type of work…
1. Can you contract out any elements of consulting work to others to free up time? Perhaps some of the lower-value work? You'll make the spread b/w the rate you get and what you pay them. You'll profit less but gain incremental hours for your venture. 2. Pick or find consulting work that "scales well" meaning it allows you to leverage (sorry for jargon) knowledge/things you've already done or built. This type of work…
Don't sell your house though. Rent costs money too.
Plus why invest in real estate (highly uncertain and perhaps going nowhere in near future) vs. invest in oneself?
Charge more.
Earlier quoted context omitted.
Don't sell your house though. Rent costs money too.
True. Perhaps it's me being in NYC where you can rent for significantly less than carrying cost of mortgage/maintenance on your own condo. Plus why invest in real estate (highly uncertain and perhaps going nowhere in near future) vs. invest in oneself?
A) as the other person pointed out, you'll still likely have rent. As for bouncing around looking for cheaper rent, you typically get locked in to a rental agreement for at least 6 months, if not a year. You can't just move every month to save a few bucks.
B) Moving costs money (and time) in and of itself.
C) Selling costs. At least in the US, most housing sales are going to eat up 5-6% of the house price in commissions. On a $150k house sale, it's going to cost you $9k (plus, again, the time and expense of moving).
Unless moving is going to save you significant expenses vs renting, it's probably not that wise to blindly sell and move. Assuming, that is, you even could sell to someone in this market. It's not great in many areas for sellers right now.
If I could rent someplace $800-$1000 less than where I'm at now, I'd consider it, because the cost/expense would be recouped in probably a year, but I wouldn't go through all that hassle/cost/expense to save a couple hundred per month.
YMMV.
I've been doing exactly this transition for the last couple of months -- transitioning from consulting to running a business and working on services (basically, a startup, just under my company's brand). For me, trying to schedule "startup time" didn't work. There was always too much immediate consulting-type work to take care of. So about a year ago I ran a Craigslist ad, spent a day wading through applications and…
1) Confine your contract time. I try to basically do contract work between 8am and 1pm. Other people only work on certain days.
2) Work with your clients to set priorities. Know what are the most important things to them, and tackle those first. This helps with....
3) Work a fixed number of hours. Don't do overtime. If you stay organized, estimate well, and stay on task, you can do your job and then stop.
4) Whoever else said to launch, I second this. You need someone yelling at you to get your startup shit done. Customers are very good at this job.
I've been doing exactly this transition for the last couple of months -- transitioning from consulting to running a business and working on services (basically, a startup, just under my company's brand). For me, trying to schedule "startup time" didn't work. There was always too much immediate consulting-type work to take care of. So about a year ago I ran a Craigslist ad, spent a day wading through applications and…
I don't understand... sounds like you still have to schedule startup time around a job. Is it that you're working fewer hours than you were before? Wouldn't it have been easier just to take on fewer consulting hours?