What would you do?

[neoflex]

Ok, This may run a little long but the decision has been stressing me out the last couple of days and I am just curious to what others would do.
So I got laid off at the end of November beginning of December which at the time seemed like a disaster but not as stressful as it could have been since I am a graphic designer and had been doing freelance work most of my career but really stepped my game up the year prior to being layed off as the place I worked at did work mainly in the race industry and my boss was slowly but surely burning all his bridges in the industry which it doesn't take long for word to spread as Nascar is literally like the girls locker room at your local high school minus the chicks. Luckily, I had at least a years salary put away in savings by the time it happened but we still needed to tighten the belt a bit.
So during this time I really stepped up my freelance work while looking for full time employment and was offered a few jobs but the pay was disgraceful so I said thanks but no thanks as I didn't want to start working someplace for peanuts and end up quitting a few weeks later anyway because I was either offered a new job or just got fed up of being over worked for pay that I made when I first graduated college. So I kept pushing the freelance thing and it has gotten to the point where it has almost become a full time job. My wife is happy because ever since we met she knew it was always my goal to be able to eventually work from home and be my own boss and as I grew open up my own shop once I had enough clientele to justify the investment. Well, since being layed off my wife has seen me get busier and busier and has been really happy to have me home as she said I am getting to my goal and I seem a lot less stressed since I am no longer working 14+ hours including the commute and than coming home and working an additional 4 or more hours just to do it over again the next day.
So now the dilemma, I was brought in a couple weeks ago for an interview with a place that I applied over a month ago and they just had me back at the beginning of the week and offered me a job. The pay is not the best but it is not horrible either so now I have been stressed with the decision of whether to go for the guaranteed money and possibly have to give up and lose some of my freelance work or do I say no and continue on my current path which in this economy is very risky especially since my wife is a teacher and even her job is not secure nowadays with the talks of cuts being made at the end of the school year. She was layed off last year as she had just switched school districts and was low man on the totem pole but her school liked her so much they fought for her and brought her back but because of last years situation the district made the school give her an interim contract instead of a regular contract which means they can cut her if they have to easily. Her principle did tell her a couple months ago not to look for another job because her job would be secure but that was before they decided to cut the budget again for next year last month. So now I am going back and forth and am torn as my heart wants to continue working toward my goal that I have been working toward for the last 10 years but the practical part of me says take the full time gig. So I guess I am wondering what others would do if in my situation as I am curious to hear others insight. I need to make a decision by tomorrow afternoon so I have been stressed all day granted I guess it's a good kind of stress. Plus it probably doesn't help that I had to pay the tax bill today. Ughhh.

[qwerty1500]

It sounds like you have already made your decision. If this isn't the right move for you, and you can afford to pass on it, just go with your decision and don't look back.

[TripleF]

This is America baby......people leave their kids, parents, friends, etc. just to have a one in a million shot at getting here.

Go for your own gig.......10 years from now you'll be glad you did.

[SmokeyJoe]

I understand your dream... and it will still be there... but if it was me and my family? I would take the steady money right now with this economy and try to keep up with some free-lance work.

I'm not saying it is the right answer, but I believe that is what I would do.

Blessings either way, John. You are a good man.

[bobarian]

Any reason you cant take the job while continuing to pursue your personal business?

[neoflex]

Just the lack of time as a lot of my clients have been getting used to me being one of the few guys they know they can go to no matter what time of the day it is whether it's 8am or 8pm. I literally have been hit with 4 rush jobs in the last two days and they always throw me those jobs because they know I always deliver and will do so in a matter of a couple hours. I have yet to ever blow a deadline. If I am working a full time job it won't be like that and I will have to take on less work due to the cut hours of availability which means cutting some clients loose which I may also regret. It's a really tough decision and every couple hours I am changing my mind. Damn this economy. If it weren't for the bleak economy I would have never entertained the interview for the full time gig or if the money was better I wouldn't even procrastinate going the other way either. I am a tortured SOB right now.

[RUNYYFan]

Here are some questions to ask yourself:

1) What is your client pipeline like? That is, how many current clients are a lock to come back to you for new work and how many new clients are you meeting with on a regular basis that end with a signed contract for work?

2) Based upon your current revenue stream, are you able to cover your current costs for the business (including things like your own health insurance, supplies, service support for things like computer maintenance and yearly dues or fees, put aside a percentage toward savings for the business, pay a salary to yourself with enough to put aside some for personal savings?

3) Do you have a business plan that you are already following? If not, would you be able to develop one that will give you a roadmap as to what you need to do to expand your client base?

4) Do you have the self-discipline to keep your nose to the grindstone, as it were, to not just keep the clients you have but to draw in new clients?

If you can answer questions 2-4 for yourself honestly with a "Yes" and question 1 with either robust or consistent, then maybe a sole proprietorship is the way to go.

Personally, I was in the same boat and decided to take the plunge and start my own business. Yes, it can be scary, but it is also very rewarding because it is yours so you will have a vested interest in making it successful as opposed to "just" working for someone else.

My $0.02.

[Mugen910]

I would talk to my wife about it. In the end it's a team decision.

[bobarian]

Sometimes clients are willing to adjust their expectations. Especially if the option is to lose your services. A steady income will reduce the stress on the family(if there is any), and it may also give you the freedom to more deeply explore the possibilities for the future.

[neoflex]

Originally Posted by Mugen910

I would talk to my wife about it. In the end it's a team decision.

Thanks for the input thus far. Mugan, my wife is no help because she just keeps telling me to stay home as she does all the finances so all she see's is the bills being paid and me actually smiling for a change whereas when I was pulling double duty I was just a misareable SOB until Saturday rolled around and even than that didn't mean I was off the hook work wise. As it is even Sundays are not off limits and I usually say my work week begins Sunday afternoon as it is rare that I get through the day without at least a few phone calls or e-mails with regards to the upcoming week. We haven't really had to tap saving until today and that's basically because what I owed in taxes was absolutely disgusting.
I would say my work ethic is above and beyond as I am a complete workaholic. Hell I am still working now with breaks now and than to check this thread and will probably be up until at least 1 tonight designing a wrap for a radio station. My wife and I are actually taking our first vacation together this year for the first time in 5 years. Usually I stayed home and worked and she went away with friends just because the idea of me actually picking up and disconnecting for a full week was just never in my mindset or seemed possible. This year she is forcing me to go away.
Thanks for the guideline RUNYYFan. I will have to sit with that tomorrow and see where I stand and thanks to everyone else for your input.

[TripleF]

Stay home and charge more. Serious. If people are COUNTING on you any time of day or night and they like that......they won't mind paying.

Take a shot at the American Dream......what's the worst that can happen? No really, what's really the worst thing that can happen?

[kenstogie]

Consider yourself lucky. In todays economic climate you have options that should make you feel good. To be logical do make a list of the Pros and Cons. Cross off the piddly ones. Then you have the meat of it.
Maybe this isn't going to make your decision for you but maybe it will help narrow it down.

[Skywalker]

Nothing but opportunity!!!

Best wishes for whichever decision you make!!!

[Volt]

Even if you take the "9 to 5" job, there is no guareentee it will be there in 6 months. No job is all that permanent. I choose a life that makes a lot less money for 2 reasons. I like what the company does that I work and I have no desire to do the things as a salaried individual would have to do for the bigger bucks. As I get older I find in my life there are a lot more things more important than money. Time with my family, friends, free weekends, etc.

What works for you is gonna be your choice. It does sound to me as if your respected and doing well as a freelancer meeting your clients demands. And if your happy with your work and it's not a daily grind that counts for a lot. Good luck with your choice.

[shilala]

Follow your dream, brother. You have the skills, and you have the support of the woman you love. That's priceless.
You can always fall back on a dead end low paying job if there's no cereal in the cupboard, they're always there. By being in your own business, that'll open even more doors and the low end will come up closer to your expectations.
Do that, and don't ever doubt you'll succeed, and you will. It's how it works.

[madwilliamflint]

I know it's a day late (hopefully not a dollar short) but if the freelance market is treating you that well this soon I say keep going.

The golden handcuff of reliable salary is still a handcuff.

[OLS]

I have to second that. If you are having phone calls about work, in THIS eco sitcho, then you can
only expect more to come when things are great. And people appreciate artists who do consistently
good work and they will stay with them. I do work similar to you, or I imagine that I do. I am a
TV commercial producer that can work Photoshop and Lightwave 3D. I found myself without a TV job a
few years back and decided I was not going to panic. I made a commercial in my pajamas for a company
I found in the phone book, purely speculative, burned the DVD and sent it to them. They hired me rather than
buy the spot for a thousand dollars. The very first commercial I made at home in my PJs.
So I am back to being shackled, but to tell you the truth, I would have
to really hustle to keep my income steady by selling 2-3 spots a month on spec. But to prove that it could
be done, and to have it show itself to be true right there before my eyes, gave me enormous confidence.

[neoflex]

So I decided what I am going to do. I decided to go back to pulling double duty and the main reason for this is being my wife is a teacher and they are talking about big cuts this year I decided to play it safe and take it for the time being. I figured I will give it a shot and if I can make it work I make it work. If I can't and my wife keeps her job and makes it through the cuts come June than I can walk and continue on the path I have been on. With the talks of the cuts in education this year I figured it was better to play it safe and almost believe that it may have come along at the right time for a reason. Only time will tell. Part of me is a little disappointed in my decision but the sensible part of me says it was the right thing to do, and yes my wife is not to happy with my decision either but understands why I am doing it although she says I better quit in June when and if she gets a contract for next year.

[jdakine]

You should factor in the quality of life since you have been working from home. There is no rewind in life and before you know it, it's passed you by.

I understand the regular job is security, however if you can build your client base and grow your own business over the next ten years, it all good. You have little over head working from home and can under cut your compition.

Good Luck, wish you the best, it will work out.

[Volt]

Originally Posted by jdakine

You should factor in the quality of life since you have been working from home. There is no rewind in life and before you know it, it's passed you by.

I understand the regular job is security, however if you can build your client base and grow your own business over the next ten years, it all good. You have little over head working from home and can under cut your compition.

Good Luck, wish you the best, it will work out.

I may have to borrow that line, damn if it isn't the truth.