I started my business 6 years ago when I was 24, and it was like a dream come true. Traveling to Asia to source and buy the products I’m passionate about. I started with just 10k and spend it all. When I came back home I did not have money to rent a storage unit for when the products arrived.
I sold some stuff before it arrived and rented a storage unit. As soon as I had enough for a new 40ft container I would travel back to Asia and invest it all again. This continued for a while, then offcourse when sales went up I managed to buy a new container while continuing to save.
For the last 2 years I’ve been losing interest in my business decreasing the effort I put in, and my sales.
I managed to save €80k now and still have 30k worth of stock (purchase value) to sell. When I managed to save more somehow I got more scared of investing more in the business .
It took me a long time to save this amount and I know it’s much more easy and fast to lose it.
Right now sales are low and some bills of €2500 are coming in for this month. I’m down to €1000 on my business and private accounts, if I don’t get any sales today I have to dive into my savings again to pay those bills.
Thats what I mean, it just hurts having to live of savings and it makes me realize how easy and fast you can loose it all when income is so uncertain.
Can anyone relate or change my perspective on this?
Just starting to feel the pressure of being self employed now…
I understand this. As we saved, my threshold for where I felt comfortable rose and rose. You will get used to it though. You’ll need to invest it and grow it over time.