Hello to everyone

[Dan604]

I been on this forum for a while now but never really used it... until now!

I am in a bit of a predicament where yes I am working within the electrical field, although not on the tools which is where I want to be.

I am working as an electrical controls/design engineer however I am looking to get on the tools. Issue is, I do need some kind of security when it comes to money.
Myself and a good friend have thought about trying to get work in outside of our permanent jobs and try build up a customer base and then hopefully if all goes well, leave our jobs in hope we have built up enough consistent work to give us a liveable wage.

Has anyone else been in this situation? And if so, how did you go about the transition from the normal 9-5 working for someone else, to starting a business on your own or with a partner? Myself and my friend are both mid 20's.

 

[Marvo]

Good luck with your new endeavors, I've moved this to the business forum where it should attract better replies.

 

[Dan604]

Good luck with your new endeavors, I've moved this to the business forum where it should attract better replies.

Thanks Marvo! I will find my way around this forum soon enough!

 

[Marvo]

.....myself and a good friend have thought about trying to get work in outside of our permanent jobs and try build up a customer base and then hopefully if all goes well, leave our jobs in hope we have built up enough consistent work to give us a liveable wage.

This is the way most people do it as it gives you some financial security whilst you grow your own business organically. There is some risk however because it's almost certainly written in your employment contract that this is forbidden so you could jeopardize your job.

If you're a registered engineer you might attract venture capital to set up your practice. This kind of investment is usually short term (couple of years max) and fairly expensive due to their risk and exposure. It's only worth going that route though if you can raise sufficient to cover marketing costs as well as setup costs so you can actively and aggressively pursue a customer base.