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Old Sep 25th, 2012, 03:16 PM   #1
junkone
 
 
Join Date: Dec 2007
Posts: 73
i have been making consistent profits over the last few months. i want to create a plan so i can progressively make it a business and quit my job.
is there any templates or starting points that i can refer to create a plan.
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Old Sep 25th, 2012, 03:33 PM   #2
CT10Gov
 
 
Join Date: Sep 2012
Posts: 438
Yes. Keep doing exactly what you are doing and see if you are still making money in another 12 months.

Quote:
Quote from junkone:

i have been making consistent profits over the last few months. i want to create a plan so i can progressively make it a business and quit my job.
is there any templates or starting points that i can refer to create a plan.
    Quote
Old Sep 26th, 2012, 05:21 AM   #3
junkone
 
 
Join Date: Dec 2007
Posts: 73
is there anyone with a more optimistic view and suggestions that can give me some pointers?
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Old Sep 26th, 2012, 06:57 AM   #4
newwurldmn
 
 
Join Date: Apr 2011
Posts: 3,424
Make sure you can handle the drawdowns. If you have a 100k account and need 20k to live. What will happen if you lose 10k one year and now your account is at 70k?

Secondly have an out. Like acting, most people fail. Is becoming a used car salesmen an appealing backup career?
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Old Sep 26th, 2012, 08:09 AM   #5
CT10Gov
 
 
Join Date: Sep 2012
Posts: 438
Ah - I see. No worries - ET appears full of out of touch dreamers with no basis in reality. Surely someone will come along and suggest that you leverage up by borrowing from your credit cards.

Or... you know, you can be realistic - which is what business is.

Quote:
Quote from CT10Gov:

Yes. Keep doing exactly what you are doing and see if you are still making money in another 12 months.
    Quote
Old Sep 26th, 2012, 09:11 AM   #6
nutmeg
Registered User
 
Join Date: Jan 2007
Location: Doddsville
Posts: 18,495
Imo, first thing I would do is project or account or plan cash flow.

This is the only thing that matters intially and where all problems begin and end.


Suppose you have a profitable trade and you are not ready to close it?

In a normal business environment, you have a cycle of invoicing a job and getting paid within 10 - 30 days. Depending how fast this money moves, you can stay in business with low margins, losing money (tax write offs) till prfotiable jobs comes along.

If time has to be your exit strategy to close out a position because you need the money, not good.
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