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Should I Quit My Business? (alien.top)

submitted 2 years ago by Vast-Park-4101@alien.top to c/entrepreneur@indiehackers.space

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I’m a 29M. 2.5 years ago I quit my job to go full time in my online coaching business. I’ve had some ups and downs, but this entire year has been down.

The most I’ve ever made in a month was just over 6k

But lately it’s been hard for me to get over 2k per month

I barely have enough money to do the basic things and would like to hire some help but literally can’t afford it right now

Should I close the business down? Or get a job and do the business on the side?

Haven’t had a “job” in 2.5 years so I don’t imagine it will be easy to get, but I’m broke and open to anything

Any ideas?

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[–] jonkl91@alien.top 1 points 2 years ago

Don't close it down. Just do it on top of the job. I have a coaching business. I got a job last year because it's a grind paying my workers and myself. I decided to get a job so I could keep my workers. As soon as I got a job, I raised my prices by 40-80%. Since I didn't need the money to survive, I was much more comfortable asking for higher prices. I got the same amount of business (about $10K monthly). I just stacked the money in the business to build a cushion.

It's tough doing everything. Just make sure to have an ATS (applicant tracking system) friendly resume that is optimized for the jobs you want. If it's possible, try to avoid highlighting that you were the owner of the business. I gave myself an organic title when I was going for interviews.

Also whenever you price coaching, always price in future help. That was what hurt me. I priced enough to cover myself. I didn't price it enough to cover my 2 workers and all the freakin SaaS tools that add up.

I got fired from both jobs (I am a shitty employee lol) but that gave me enough savings and bought me enough time to invest in some things. I am back at it full time.