Advice from Nashville's Financial Guru Dave Ramsey
Dave Says
By Dave Ramsey
Author of Financial Peace and The Total Money Makeover
9/4/2006
"Quit small business and take new job?"
Dear Dave,
I've had my own small business for a while. I love what I'm doing, but things aren't going well. I'm committed to $14,000 in Yellow Pages ads over the next 12 months. Recently I got a great job offer from a company that would pay me twice what I'm making now. I'm not sure what to do.
Rich
Dear Rich,
It's very important to keep your options open right now. If you completely close your business, you'll be giving up your customers. I'm not sure I'd do that, especially when you know so little about the new job you've been offered.
I'd suggest trying this new job, but keep a few of your customers and see if you can do the work on weekends. This would help cover some, if not all, of your business debt AND keep some money rolling in if the new job doesn't work out.
If you find that you like this new job, then you've got a great income plus something you like doing on weekends that pays. If you keep your business open - even on a small scale - there's always a chance it will begin to grow and give you the opportunity to jump back into it full-time again!
- Dave
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