Life has been a little crazy lately.  I was laid off from my full-time job effective the end of December, and have had no luck in my ongoing search for new employment since then.  The only thing keeping me from having a panic attack is the fact that I am on severance pay until the end of February.  However, come March I will have no income rolling in and that’s when the real panicking starts.  I made the decision recently to begin seriously pursuing beginning my own IT consulting business.  I’ve pondered names, domains, clients, and everything the business would entail, and must admit to being very overwhelmed.  But it’s something I want to do, so I started the research.  I just renewed the lease on my apartment for 6 months with the goal of getting a house come summer if my consulting business is successful.  But then I was informed that you can’t qualify for a mortgage if you’re self-employed unless you have 2 years of records showing sustainable income.  By summer I’ll be lucky if I have 6 months of records.  So I had to choose:  do I pursue my own consulting business and begin doing what I’ve wanted to do all along, or do I try harder to re-enter Corporate America and thus qualify for a mortgage later this year?  I can’t do both.  So which do I sacrifice, and which do I pursue?

I’ve decided to try and pursue the consulting business.  I’ve wanted to work with computers outside of a corporate business since before I went to college for my IT degree.  I never really wanted to wear a suit and tie and tweak servers all day.  I want to work with individuals and small businesses to help them get technologically organized and setup in a way that will benefit them, and in the process benefit me.  Owning a house would be wonderful.  I know I’m still moderately young, but I’ve been in apartments since a week after graduating high school.  I’m tired of it.  I want a home.  But for now, I can’t do both, so I will just have to put everything I have into the business and hope it pays off.

People always say “you have to spend money to make money”.  Until recently, I never realized how true it was.  Just for my small business I’m going to be out of pocket over $1000 just in startup costs alone.  Not counting any office supplies or setting up a home-office in my apartment.  Not counting the new desktop computer I’ll be buying to be placed in that office to help with tracking business expenses and income.  It’s very scary to know that I have a set amount of money in my savings account, and no more is going in there until I start making money doing the consulting.  But I can’t do the consulting until I legally make myself an LLC and file for the domain and market myself with a website and business cards, etc etc, so on and so forth.  So I have to spend what little money I have in the hopes that it will yield higher returns.  How terrifying is that?

I have just over 1 month to get this started and begin recruiting clients.  I hope I can do it.