Post: #1

Hi fellow RVFers,

I need some advice from older forum member and/or entrepreneurs.

I am 29 year old lawyer working in London. I earn about 140-160k USD (equivalent) from my job. On paper, I have very strong experience for my age level, but I find the work very dull (so dull, in fact, that I try and sneak in doing my own business stuff while at work).

As a result of being bored at work after graduating from law school, I started two businesses. These businesses now two online business that generate a total of 200-250k combined profit per year. I have been running these businesses as "side projects" for the past 3 years, but they have really started to grow this year and I'm focusing on growing them further. I see a good chance of bringing 500k USD profit in the near future.

My question: should I focus more on business or, on the other hand, focus on becoming an expert in my field of law?

My businesses are in fields people would deem as boring and lame. I feel I might have wasted my law degree and my experience.

Post: #2

(10-15-2016 05:04 PM)LDN_SYD Wrote:  My businesses are in fields people would deem as boring and lame. I feel I might have wasted my law degree and my experience.

Riches in Ditches my friend...

Is there anyway where you can combine your performance and learning in Law to your online businesses?
Can the type of Law you practice be pertinent to your online businesses (patent law for example)?

I believe you can have best of both worlds if you think creatively enough.

Robert Shapiro(OJ Dream Team) co-founded LegalZoom.com

Post: #3

I don't think you should think of an experience like being taught disciplined, clear thinking such as a legal education as being a waste.
It may superficially seem like wasted time/money, but there are many hidden benefits. Although it may have been gradual and you don't see how you've changed, you in all probability learned to how to think really clearly as few people without higher education do. In particular, to consider the sources of information, to distinguish factual information from opinion, and to discriminate reasonable opinions from fanaticism or jingoism.

Also, importantly, such an education should have taught you to seek disconfirming information to challenge your own beliefs. Many people, and many very intelligent people, without that kind of education simply arrive at conclusions through "common sense" which is sometimes right, but often an appealing but gross oversimplification.

I was trained as a computer programmer, never made near what you make, but I also found it boring, quit and learned another trade.
When you have a comma where a period should be, all the opinions in the world won't save you, and you learn to be humble and realize your susceptibility to errors in thought. It is very good fortune to have had the chance to learn disciplined thought.

That is a separate question from whether you should continue to practice law. That requires an in-depth cost-benefit analysis, but one obvious possible error in your assessment is the sunk cost behavioral fallacy.

https://en.wikipedia.org/wiki/Sunk_costs

If being in that office sucks, then it sucks, and you are made out of time-- the time that goes by each day comprises your life and running out if it ends that life.

Post: #4

Would you still have the same lifestyle for the next couple of years? It's easy to say, "fuck this, I quit" only to realize that your bills keep rolling and your expenses increase....because you have more spare time.

Post: #5

(10-15-2016 05:16 PM)Carmichael Reid Wrote:  

(10-15-2016 05:04 PM)LDN_SYD Wrote:  My businesses are in fields people would deem as boring and lame. I feel I might have wasted my law degree and my experience.

Riches in Ditches my friend...

Is there anyway where you can combine your performance and learning in Law to your online businesses?
Can the type of Law you practice be pertinent to your online businesses (patent law for example)?

I believe you can have best of both worlds if you think creatively enough.

Nope, I specialise in Commercial Contracts, with a focus on the IT / Software industry. But the legal work I do is more suited to Fortune 500s and not small businesses. So I have a bit of a dilemma: focus on serving the interests of the elite or do my own thing (the latter which of course entails more risk)

Post: #6

(10-15-2016 05:04 PM)LDN_SYD Wrote:  My question: should I focus more on business or, on the other hand, focus on becoming an expert in my field of law?

Being a lawyer (or former lawyer) can be very handy in business. Even if your legal needs turn out to not be closely related to your legal speciality, you'll be at an advantage in business. I know someone who has been successful in business and his law background helped for sure. Providers were terrified of being sued, ensuring compliance. He's too rusty to practice law at this point but the background still helps.

Post: #7

You got a nice cashflow business and open doors to the elite. I am sure there is opportunity somewhere for your online biz and the Fortune 500 some where down the road? But can you without a doubt get your online biz to $15M+ full time? Part/Time and Full/Time expectations change big time if/when you decide to go 100.

What do you think is holding you back from starting your own thing?
What is the WORST thing that can happen from starting your own thing?
What do you want out of your entrepreneurial life that you don't have now?

It takes MASSIVE guts to start a successful business on your own. Personally, I think it's the only way to get the life you were deserved to live. You may be unhappy but it is the only TRUE shot at pure freedom. As long as you know how to scale the business so it works for you instead of you working for it.

I quit my job with ZERO income from a business. You are in a much better position to make the best decision that is right for you. Although, you have much more to lose than I... I understand this dilemma. It takes courage to do, or don't but don't sit on the fence. No honor in that.
No one can make that decision but you.

If you have a good relationship with your bosses, you may find it beneficial to ask them for advice... They may be able to open some doors for you.

Bill Gates became rich with his Dad's knowledge of Law. So you have not wasted any time. You are the right road, just need to make a decision. You'll live either way.

I read an interview with Jeff Bezos of Amazon who is in the EXACT position as you... Obviously he picked the right decision, but for every decision like that there are millions of failure stories. He had an accurate vision on where his business and market was going that no one else did... Do you have that? Can you see around corners before people get to end of the street?

You gotta ask how long-term are you in this entrepreneurial schtick for? How much shit are you willing to eat? Because it is no walk in the park!
Are You REALLY 110% to win it All? If not, don't try...

PS- If you do decide to go out on your own, if you don't have them already, you need to find a SOLID support network of very trusted people. It is a very lonely trail...

Post: #8

(10-15-2016 05:45 PM)Carmichael Reid Wrote:  You got a nice cashflow business and open doors to the elite. I am sure there is opportunity somewhere for your online biz and the Fortune 500 some where down the road? But can you without a doubt get your online biz to $15M+ full time? Part/Time and Full/Time expectations change big time if/when you decide to go 100.

What do you think is holding you back from starting your own thing?
What is the WORST thing that can happen from starting your own thing?
What do you want out of your entrepreneurial life that you don't have now?

It takes MASSIVE guts to start a successful business on your own. Personally, I think it's the only way to get the life you were deserved to live. You may be unhappy but it is the only TRUE shot at pure freedom. As long as you know how to scale the business so it works for you instead of you working for it.

I quit my job with ZERO income from a business. You are in a much better position to make the best decision that is right for you. Although, you have much more to lose than I... I understand this dilemma. It takes courage to do, or don't but don't sit on the fence. No honor in that.
No one can make that decision but you.

If you have a good relationship with your bosses, you may find it beneficial to ask them for advice... They may be able to open some doors for you.

Bill Gates became rich with his Dad's knowledge of Law. So you have not wasted any time. You are the right road, just need to make a decision. You'll live either way.

I read an interview with Jeff Bezos of Amazon who did the same thing... Obviously he picked the right decision, but for every decision like that there are millions of failure stories.

You gotta ask how long-term are you in this entrepreneurial schtick for? How much shit are you willing to eat? Because it is no walk in the park!
Are You REALLY 110% to win it All? If not, don't try...

Thanks for the response.

No, I highly doubt it could get to that level. I specifically targeted smaller markets so I would be able to grab market share easier and also not compete against people with deep pockets. The bigger the $ size of the market, the more the competition and it makes it hard for someone from a middle class family with little money or connections to compete.

What do you think is holding you back from starting your own thing?

Fear of failure. And that I still have spare time...not sure if quitting will help.

What is the WORST thing that can happen from starting your own thing?

Bankruptcy?

What do you want out of your entrepreneurial life that you don't have now?

A full-time entrepreneurial life. It is very fulfilling. But societal expectations are something I'm getting used to.

Post: #9

(10-15-2016 06:11 PM)LDN_SYD Wrote:  

(10-15-2016 05:45 PM)Carmichael Reid Wrote:  You got a nice cashflow business and open doors to the elite. I am sure there is opportunity somewhere for your online biz and the Fortune 500 some where down the road? But can you without a doubt get your online biz to $15M+ full time? Part/Time and Full/Time expectations change big time if/when you decide to go 100.

What do you think is holding you back from starting your own thing?
What is the WORST thing that can happen from starting your own thing?
What do you want out of your entrepreneurial life that you don't have now?

It takes MASSIVE guts to start a successful business on your own. Personally, I think it's the only way to get the life you were deserved to live. You may be unhappy but it is the only TRUE shot at pure freedom. As long as you know how to scale the business so it works for you instead of you working for it.

I quit my job with ZERO income from a business. You are in a much better position to make the best decision that is right for you. Although, you have much more to lose than I... I understand this dilemma. It takes courage to do, or don't but don't sit on the fence. No honor in that.
No one can make that decision but you.

If you have a good relationship with your bosses, you may find it beneficial to ask them for advice... They may be able to open some doors for you.

Bill Gates became rich with his Dad's knowledge of Law. So you have not wasted any time. You are the right road, just need to make a decision. You'll live either way.

I read an interview with Jeff Bezos of Amazon who did the same thing... Obviously he picked the right decision, but for every decision like that there are millions of failure stories.

You gotta ask how long-term are you in this entrepreneurial schtick for? How much shit are you willing to eat? Because it is no walk in the park!
Are You REALLY 110% to win it All? If not, don't try...

Thanks for the response.

No, I highly doubt it could get to that level. I specifically targeted smaller markets so I would be able to grab market share easier and also not compete against people with deep pockets. The bigger the $ size of the market, the more the competition and it makes it hard for someone from a middle class family with little money or connections to compete.

What do you think is holding you back from starting your own thing?

Fear of failure. And that I still have spare time...not sure if quitting will help.

What is the WORST thing that can happen from starting your own thing?

Bankruptcy?

What do you want out of your entrepreneurial life that you don't have now?

A full-time entrepreneurial life. It is very fulfilling. But societal expectations are something I'm getting used to.

You will NEVER WIN playing by society's rules. Full-Stop.

You gotta answer yourself what true success means to you.

Market Strategy wise...
You're doing it right. You're ahead of most "business" people. That's exactly what you're supposed to do. But what you have to ask yourself, is where can I find growth? How can I increase Customer retention?

Bankruptcy happens when you neglect cashflow management and shoot for the stars too quickly. Cashflow management is the #1 skill you can learn now. When to pick your spots and exploit new opportunities such as new customers with a similar need.

Are you prepared to deal with the problems of going bankrupt? You will never get really rich without eliminating this fear. This is one of the biggest reasons why people don't start businesses. I don't wanna list the comeback stories from bankruptcy. Walt Disney and Henry Ford among the list.

Check out a book called Crossing The Chasm by Geoffery Moore. That's where you're at right now.
Zero to One by Peter Thiel You are Following his advice already you just need to figure out how to create more growth... If you don't believe you can, your business will entropy and new competitors will come in and dilute you into a commodity.

Being self-employed is really tough, I'm not a fan. If you create some solid relationships with customers by increasing your Average Transaction Value ie) More Valuable Customers who bring in more income.. and hire some support staff... But this means meeting payroll. Another expense.

You'll see that this gets complicated very quickly the higher in ambition you go. Much, much harder than working for someone who has figured it all out. But remember the founder of the business you work for was in the EXACT same position you are.

Good luck and Brexit will be an unbelievable opportunity to exploit!

Post: #10

Wow, interesting problem. 200-250k combined profit per year is excellent and I'm sure a lot online professionals would want that kind of profit as their main source of income. Is this some sort of affiliate marketing thing that a lot of unemployed dude try out through blogs, and youtube videos?

You have to ask yourself what are your career goals and life goal? Do you have student loans to pay off, a mortgage to pay off? Do you want to spend extra money on vacations, cars, women, etc? Do you have kids a wife, or intend to get married in 5 year? Is your goal to make money to retire or to make money cuz its fun?

A stable, high paying job is desirable for a middle-aged guy with kids, a mortgage and demanding wife.

A single guy, has more freedom to do whatever he wants, spend money how he wants, and can take the risks in life and career. Move to another city or go on extended vacations.

(1) Online businesses can be risky and fickle - some sites have a 5 year profitability growth, and then crater as the next new cool thing comes out. Technology changes and things become outdated. 5 years ago Blackberry still existed as a profitable company. Unexpected and unpredictable changes in technology can wipe out businesses and industries. You can try your online business for 5 years and see how big it can grow - but there is no guarantee it can be sustainable.
(2) You can sell the online business or bring in partners/employees/stock-holders IPO, that can help you grow it while you can continue earning profit for doing nothing.
(3) You can become a business consultant/industry coach to teach other similar companies and industries to grow their profits since you are an expert in the field. You can make money by giving speeches, consulting fees, writing books, etc. by building your personal brand that transcends whatever product you are selling.
(4) You keep you law job or you can find a more lucrative law job in another field or similar industry. Many company's hire ex-lawyers as CEOs because they are smart and savvy on risk-taking. Apply to Google or Facebook for a VP job. If you become bankrupt, re-finance, and run for political office like trump.

Post: #11

(10-15-2016 07:42 PM)jcrew247 Wrote:  Wow, interesting problem. 200-250k combined profit per year is excellent and I'm sure a lot online professionals would want that kind of profit as their main source of income. Is this some sort of affiliate marketing thing that a lot of unemployed dude try out through blogs, and youtube videos?

You have to ask yourself what are your career goals and life goal? Do you have student loans to pay off, a mortgage to pay off? Do you want to spend extra money on vacations, cars, women, etc? Do you have kids a wife, or intend to get married in 5 year? Is your goal to make money to retire or to make money cuz its fun?

A stable, high paying job is desirable for a middle-aged guy with kids, a mortgage and demanding wife.

A single guy, has more freedom to do whatever he wants, spend money how he wants, and can take the risks in life and career. Move to another city or go on extended vacations.

(1) Online businesses can be risky and fickle - some sites have a 5 year profitability growth, and then crater as the next new cool thing comes out. Technology changes and things become outdated. 5 years ago Blackberry still existed as a profitable company. Unexpected and unpredictable changes in technology can wipe out businesses and industries. You can try your online business for 5 years and see how big it can grow - but there is no guarantee it can be sustainable.
(2) You can sell the online business or bring in partners/employees/stock-holders IPO, that can help you grow it while you can continue earning profit for doing nothing.
(3) You can become a business consultant/industry coach to teach other similar companies and industries to grow their profits since you are an expert in the field. You can make money by giving speeches, consulting fees, writing books, etc. by building your personal brand that transcends whatever product you are selling.
(4) You keep you law job or you can find a more lucrative law job in another field or similar industry. Many company's hire ex-lawyers as CEOs because they are smart and savvy on risk-taking. Apply to Google or Facebook for a VP job. If you become bankrupt, re-finance, and run for political office like trump.

Is this some sort of affiliate marketing thing that a lot of unemployed dude try out through blogs, and youtube videos?

No, nope. No affiliate. No youtube. That business model is not stable.

I actually work with the US administrative bodies and one of the largest lobbying organisations with one business.

The other takes advantage of various markets in the supply for labour and sells to affluent westerners - profit margins stem really from labour arbitrage.

Post: #12

(10-15-2016 05:04 PM)LDN_SYD Wrote:  Hi fellow RVFers,

I need some advice from older forum member and/or entrepreneurs.

I am 29 year old lawyer working in London. I earn about 140-160k USD (equivalent) from my job. On paper, I have very strong experience for my age level, but I find the work very dull (so dull, in fact, that I try and sneak in doing my own business stuff while at work).

As a result of being bored at work after graduating from law school, I started two businesses. These businesses now two online business that generate a total of 200-250k combined profit per year. I have been running these businesses as "side projects" for the past 3 years, but they have really started to grow this year and I'm focusing on growing them further. I see a good chance of bringing 500k USD profit in the near future.

My question: should I focus more on business or, on the other hand, focus on becoming an expert in my field of law?

My businesses are in fields people would deem as boring and lame. I feel I might have wasted my law degree and my experience.

Fuck what other people think. Fuck´em. Do what brings you the most joy. Wether it´s personal or financial. Law will always be waiting for you. If your already making this figures with your age. Your skilled. You can go back to it whenever you want. Might make you loose one or two years of competitive edge.

Remember one thing though. When you work for yourself it´s you. Only you. Nobody will save you from failure. And it never ends. It´s like an hunger which cannot be satisfied. Since the income is unstable. Every beginning of the month is a new mountain to climb.

Lawyers are nothing more than secretaries of the elite.

Post: #13

(10-15-2016 05:04 PM)LDN_SYD Wrote:  Hi fellow RVFers,

I need some advice from older forum member and/or entrepreneurs.

I am 29 year old lawyer working in London. I earn about 140-160k USD (equivalent) from my job. On paper, I have very strong experience for my age level, but I find the work very dull (so dull, in fact, that I try and sneak in doing my own business stuff while at work).

As a result of being bored at work after graduating from law school, I started two businesses. These businesses now two online business that generate a total of 200-250k combined profit per year. I have been running these businesses as "side projects" for the past 3 years, but they have really started to grow this year and I'm focusing on growing them further. I see a good chance of bringing 500k USD profit in the near future.

My question: should I focus more on business or, on the other hand, focus on becoming an expert in my field of law?

My businesses are in fields people would deem as boring and lame. I feel I might have wasted my law degree and my experience.

Intriguing post. I can see similarities with my own past.

I also went to law school. But I found law (outside of trial work) painfully boring for me. So I never applied for a solicitor's job. The Bar struck me as a nauseating RL version of Jeeves+Wooster/Brideshead Revisited so I knocked that on the head too.

Law does have its benefits. If you are technically good you can get a pretty good salary progression in a marked out manner. Whereas alot of comm occupations are down to different factors like luck. ANd you might find its so non-technical that you just wonder what the fuck alot of managers actually do aside from quoting buzzwords all day.

Re your business endeavour. Well firstly you might have probs re your law bosses if you are spending time on a separate business.

The debate really is:-
1)Will your online business flourish. Or will you sacrifice a potentially lucrative law career for nothing.
Well what would realistically stop you going back to law? I suspect you could get back in a big law firm provided your hiatus wasn't too long. Otherwise, you'd need to start looking at smaller firms. If it was a really long break, your option might be inhouse law or your own law firm/small one. Could you handle that without getting bored out of your mind? Only you can gauge that.

2)Can you get your mindset right. I wouldn't worry about "wasting" previous years. I mean you chose law at 17 yrs of age? Better choose the right path now, than never, yes? Many successive business people jump to different areas. Thats what entrepreneurship is. I never think of myself "wasting" my time on a law degree. Only on avoiding my true passions in the past. Or listening to fear.

I think a big issue is just how good your business is. 500k part time vs 160k USD for 50 odd hrs a week, SUGGESTS your bus is terrific. But markets can be fickle. If the market folded tomorrow, could you get another business? Or is your market saturated already because its a niche of a niche area?
OR would your business start haemorraging money if conditions got tougher?

Law gives a pretty good salary IF you want the long hours, dedication and potential boredom. Even non partners can get over 300k GBP a yr at some firms in Ldon. Otherwise, you have to become your own boss in whatever you choose.

Post: #14

A couple of questions come to mind.

1: what's your goal in life (work/business)?

2: Are you current businesses scalable if you had more time?

3: what makes you think you won't get bored if you quit your job and only worked on your businesses?

You already are succesfull, 200-250K a year from side businesses is beyond messing about or making some extra money. Either you're aiming very high (which is good) or you don't get much satisfaction from this kind of succes.

Post: #15

OP, what kind of business are you in?

Post: #16

OP do you hate your law job or just simply find it dull? If you hate your job with all your will and find it so soul sucking that you are physically ill by the thought of going to work, then quit and do your business full time. If its simply dull and not challenging, then keep working it and taking their money! Im sure most people would LOVE to have a boring, dull, mundane job where they can sit on their ass all day and make 140k.

Im kind of in the same boat as you. I make great money for my age (200k, 30 years old) at my full time job, but want to quit eventually and focus on starting a business. What I tell myself is that I will quit doing the corporate office job when I reach 40 years old, or have a million dollars net worth, whichever comes first. I think a goal like that might be good for you too? You could continue working/living off of your lawyer salary for another 10 years, and keep growing your side business and stash all of that money in the bank. In 10 years you will be a multi-millionaire and can do whatever the hell you want!

You seem like a bright guy, very few people can make the money youre making as a lawyer, and start 2 side businesses with that kind of income stream. Cheers to that! Im sure you will be successful with whatever decision you make.

Post: #17

You gotta remember Syd. $250k in profit is not alot of money from a business perspective. As a side project yes. But if you do not see any growth from this, it will cause more headaches than freedom...

Will you pay yourself the equivalent of what you make at your law job? Probably. If not, you will take a drastic lifestyle change to keep up with these profit margins. So how does that $250K profit look now? (Before Taxes)

Yes, you are doing better than people with salaried jobs, but that is really it.

Alot of business owners create a job for themselves. Out of spite of working for a boss. Big mistake. They burnout, I run into them all the time.
Being your own boss is extremely overrated. It's not as free as you think.

Other books to check out:
Business Model Generation by Alex Osterwalder
Value Proposition Design by Alex Osterwalder
E-Myth Revisited by Michael Gerber

Post: #18

(10-16-2016 12:56 PM)Carmichael Reid Wrote:  You gotta remember Syd. $250k in profit is not alot of money from a business perspective. As a side project yes. But if you do not see any growth from this, it will cause more headaches than freedom...

Will you pay yourself the equivalent of what you make at your law job? Probably. If not, you will take a drastic lifestyle change to keep up with these profit margins. So how does that $250K profit look now? (Before Taxes)

Yes, you are doing better than people with salaried jobs, but that is really it.

Alot of business owners create a job for themselves. Out of spite of working for a boss. Big mistake. They burnout, I run into them all the time.
Being your own boss is extremely overrated. It's not as free as you think.

Other books to check out:
Business Model Generation by Alex Osterwalder
Value Proposition Design by Alex Osterwalder
E-Myth Revisited by Michael Gerber

Totally agree with you, Sir. 250k is really not much, but my gut says my skillset lies in business and not law.

And the thing is, business income is so much better and flexible than a salary.

Post: #19

kudos for asking the right question, that is half the battle.

there is a blogger/author/entrepreneur names James Altucher. he writes about this. wrote a good book called Choose Yourself. he's got a lot of free podcasts and blog posts online too.

he's started multiple million dollar businesses. His first he was moonlighting for 18 months and had a sizable staff before he quit his day job.

so what I would tell you is keep trying to do both. look for ways to be more efficient in both. do you business for yourself while at the office. also, try to leverage your private businesses - in other words, can you hire staff, or automation? a dollar invested in staff could yield ten down the road.

I would try to work both for as long as you can, and while as an entrepreneur you are probably normally thrifty I would try to employ the Tim Ferris model of outsourcing as much as possible. Try to scale.

At some point, the opportunities in your private business may dwarf your day job, and that's when you quit.

the one negative I read into your situation is that your businesses may not be permanent. in other words, how long will the labor arbitrage persist?

still, even if you think the opportunities will persist, can you make more by quitting? I would want the opportunity in the private businesses to be twice what you are forgoing at the job, since there is less guarantee there.

what altucher did was he kept a foot in both opportunities by outsourcing his business work to employees.

Post: #20

(10-17-2016 04:03 PM)LDN_SYD Wrote:  

(10-16-2016 12:56 PM)Carmichael Reid Wrote:  You gotta remember Syd. $250k in profit is not alot of money from a business perspective. As a side project yes. But if you do not see any growth from this, it will cause more headaches than freedom...

Will you pay yourself the equivalent of what you make at your law job? Probably. If not, you will take a drastic lifestyle change to keep up with these profit margins. So how does that $250K profit look now? (Before Taxes)

Yes, you are doing better than people with salaried jobs, but that is really it.

Alot of business owners create a job for themselves. Out of spite of working for a boss. Big mistake. They burnout, I run into them all the time.
Being your own boss is extremely overrated. It's not as free as you think.

Other books to check out:
Business Model Generation by Alex Osterwalder
Value Proposition Design by Alex Osterwalder
E-Myth Revisited by Michael Gerber

Totally agree with you, Sir. 250k is really not much, but my gut says my skillset lies in business and not law.

And the thing is, business income is so much better and flexible than a salary.

First, my opinion is you cannot run two businesses at the same time. So, you have to make a decision on which one will make more money. Yes, it may be like picking which child to kill, but some times you gotta do it to live.

Second, if you want to do this full time: You gotta sacrifice your glamourous lifestyle. You gotta live VERY cheaply. Move in to a cheaper apartment, eat out less, cancel useless subscriptions, walk instead of driving, etc.

Third, most important, you MUST find growth! You either have to charge your clients more or turnover your assets quicker. Find new customers in new markets looking for what you offer.

Do you know what copywriting is?

What is it exactly do you do?

I'm a marketing strategist and a programmer so this stuff is essential

Yes, there are guys out there like James Altucher and Tim Ferriss who teach lifestyle business way of doing things. Some of their stuff is okay... But, you gotta beware of how they make their money. They make their money being authors first, and business people second. So they will most likely tell you want you want to hear.

Flexibility is for working stay at home mothers.

If you decide to go into business for yourself, learn to integrate the stuff you love to do into your lifestyle so it is not considered work nor play. It's just is.

I work out and do all sorts of sports, but all the sports I play involve very high levels of strategy. Therefore I incorporate my play into my work... I use Brazilian Jiu-Jitsu metaphors, Hockey metaphors, Go metaphors, etc...

This essay is where you are going if decide to quit... http://www.paulgraham.com/ramenprofitable.html

It's about getting to a level of profitability by living cheaply and making enough profit to pay for your living expenses while you better your product and look for better growth opportunities.

PS: Don't actually strictly eat Ramen. The guy who is now the President of the company inspired this idea getting his startup sold. He ended up collapsing from developing Scurvy... I eat fine, but I don't eat fast food or pick up bills at restaurants or bars or any of that shit. Conserve your funds!

Post: #21

I am currently doing a double degree in international business and law, so I get both sides of the picture. Since you're already in your late 20's i would suggest you to stop wasting your time on a second degree, and specially on one that is not imperative to have for your business to grow/suceed, unlike law that you need a professional license.

Biz school is pretty much just useless theory plus a couple of classes that actually would help you IMO. Im pretty sure that these small things you could learn easily without wasting another couple of years.

So, I think that with law school you're good to go. Just be careful with how and where you invest. It is pretty logical to analyze your market before diving in it, study the demand for the product, etc.

If you trust yourself enough, I would suggest you to try and open your own practice on a branch of law that you do enjoy, starting off with small side jobs and letting word of mouth do the job for you.

Post: #22

Would you be interested in starting a business in the same field as where you work now?

Apart from the part where you mention you find it kinda boring your story sounds like a man that's ready to start his own firm. Do the seniors at the firm do something you can't?