Business Growth Crossroads

Business By CakeForte Updated 29 Dec 2009 , 9:59pm by tashistation

CakeForte Posted 12 Dec 2009 , 11:11pm
post #1 of 30

I'm at a point in my FT job where it's just not enough pay anymore. However, it has afforded me the chance to join industry networking groups and work on my business A LOT. So I'm starting to grow and am building the necessary bridges to succeed in the future...but the money isn't where it needs to be yet. Before it was ok...but now it's just a burden and causing a lot of stress.

So, the dilemma is - do I look for a job in my field of study and earn a lot more money (like 3x my current salary), but basically put everything else on hold, since I won't have the flexibility of do both with the new job?

Who knows how long it will take to find anything. I'm also hesitant b/c the last time I took a job for the *really good* money...it turned out horribly, so I'm scared of that too.

Any words of wisdom for a twenty-something?

29 replies
snarkybaker Posted 12 Dec 2009 , 11:42pm
post #2 of 30

Nobody can answer your questions for you. You need to sit down and figure out what your ideal job/life would be in 5 yrs, and use that as your road map.
For example, let's say you were a newlywed, and in a few years you'd like to start having some kids, but stll make enough money from you cake business to really add to your family's financial stability. Then I would tell you to suck it up at the day job, since it allows you to devote adequate time to buliding your business, which you will want to be strong when you opt to leave the outside work world.

But, if you "like" doing cakes, but also like things like employer provided health care, then maybe you should look for a more rewarding " day job".

We just need more information to be able to give you good advice, but you need to tink about 2 to 5 years from now, and not next month when you make these decisions.

Mike1394 Posted 13 Dec 2009 , 10:17am
post #3 of 30

Here ya go.

In your twentys you still think your going to be a world beater. Your eyes all wide, and not clouded.

Closing in on the 30s you start to get a lil clouded, and realize it might take a lil more time to become the next Warren Buffet.

In your 30s life really takes hold, and you realize it sucks, don't get to down though, because.....

When you hit your 40s you just don't care no more, and things get a whole lot simpler. LOLOLOL

Now what this has to do with your problem I really don't know, but I'm closing in on 50, and it's better than the 40s, but I think it's because you just don't remember things any more. icon_biggrin.gif

Mike

cblupe Posted 13 Dec 2009 , 10:30am
post #4 of 30

I think I broke my rose colored glasses in my forties. I'm mid 50 now and could sure use them.

joenshan Posted 13 Dec 2009 , 11:33am
post #5 of 30
Quote:
Originally Posted by Mike1394

Here ya go.

In your twentys you still think your going to be a world beater. Your eyes all wide, and not clouded.

Closing in on the 30s you start to get a lil clouded, and realize it might take a lil more time to become the next Warren Buffet.

In your 30s life really takes hold, and you realize it sucks, don't get to down though, because.....

When you hit your 40s you just don't care no more, and things get a whole lot simpler. LOLOLOL

Now what this has to do with your problem I really don't know, but I'm closing in on 50, and it's better than the 40s, but I think it's because you just don't remember things any more. icon_biggrin.gif

Mike




That was hysterical. I'm 39 and hope what you say is true...

SugarNSpiceDiva Posted 13 Dec 2009 , 12:46pm
post #6 of 30

I wish I could help ya, but I'm right there with ya! I'm a "twenty-something" too. LOL.

I'm a little different though. I recently came to what I have been calling my "quarter life crisis" lol. One day, I just realized that I'm not getting any freakin younger, and I haven't really done as much with my life as I wanted to. The things I want to do that are important to me aren't just gonna fall into my lap. I don't want to be middle aged (definitely no offense to anyone who is. icon_smile.gif ) before I get my head straight on where I'm going. So I'm in this big huge rush to get everything done and done NOW. icon_redface.gif My parents laugh at me, because they say I'm too young to be freakin out about being old. lol.

Well I know that didn't have much to do with what you said. Its late, I'm up and sleepy. lol. But I really do hope you are able to come to a good decision that you will be satisfied with. icon_smile.gif

Just lettin ya know there's another "twenty something" rootin for ya! icon_biggrin.gif

Mike1394 Posted 13 Dec 2009 , 12:50pm
post #7 of 30
Quote:
Originally Posted by SugarNSpiceDiva

I wish I could help ya, but I'm right there with ya! I'm a "twenty-something" too. LOL.

I'm a little different though. I recently came to what I have been calling my "quarter life crisis" lol. One day, I just realized that I'm not getting any freakin younger, and I haven't really done as much with my life as I wanted to. The things I want to do that are important to me aren't just gonna fall into my lap. I don't want to be middle aged (definitely no offense to anyone who is. icon_smile.gif ) before I get my head straight on where I'm going. So I'm in this big huge rush to get everything done and done NOW. icon_redface.gif My parents laugh at me, because they say I'm too young to be freakin out about being old. lol.

Well I know that didn't have much to do with what you said. Its late, I'm up and sleepy. lol. But I really do hope you are able to come to a good decision that you will be satisfied with. icon_smile.gif

Just lettin ya know there's another "twenty something" rootin for ya! icon_biggrin.gif




See start to reach 30, and you realize your just like every other schmuck in the world LOLOL icon_biggrin.gif

Mike

SugarNSpiceDiva Posted 13 Dec 2009 , 1:07pm
post #8 of 30
Quote:
Originally Posted by Mike1394

Quote:
Originally Posted by SugarNSpiceDiva

I wish I could help ya, but I'm right there with ya! I'm a "twenty-something" too. LOL.

I'm a little different though. I recently came to what I have been calling my "quarter life crisis" lol. One day, I just realized that I'm not getting any freakin younger, and I haven't really done as much with my life as I wanted to. The things I want to do that are important to me aren't just gonna fall into my lap. I don't want to be middle aged (definitely no offense to anyone who is. icon_smile.gif ) before I get my head straight on where I'm going. So I'm in this big huge rush to get everything done and done NOW. icon_redface.gif My parents laugh at me, because they say I'm too young to be freakin out about being old. lol.

Well I know that didn't have much to do with what you said. Its late, I'm up and sleepy. lol. But I really do hope you are able to come to a good decision that you will be satisfied with. icon_smile.gif

Just lettin ya know there's another "twenty something" rootin for ya! icon_biggrin.gif



See start to reach 30, and you realize your just like every other schmuck in the world LOLOL icon_biggrin.gif

Mike




Exactly. lol (sigh)

Well, by what you said, at least we have something to look forward to!! lol icon_lol.gificon_lol.gif

morgnscakes Posted 15 Dec 2009 , 6:34am
post #9 of 30

I'm thirty-something and in my experience I can tell you this...

I was at the point you are at right now, just after I turned 30. I had a well-paying day job (extremely great pay), did cakes on the side (an very good business, I might add) and thought I had it all figured out!! I started thinking, well, I have enough money saved, so I could go to a part time job and run my cake business (since there are grants and revolving business loans through my city government). Or I could just run my business...I could always go back to work if I wanted. Plus, my job wasn't seeming as rewarding as it once had been.

Incoming.........I lost my day job due to management cuts (and yes I was a manager). Now I've been out of work for over a year, almost exhausted my IRA, but the cake business has kept me afloat (out of my home). Now I'm actually expanding the business into it's own location (at the point where money is the tightest in my household).

Many people say I'm crazy, but I say....No, I'm letting go and Letting God.

I said all of this to say, it's your decision. You have to figure out what is right for you and nobody else. Good Luck and God Bless whatever you decide.

FleurDeCake Posted 15 Dec 2009 , 7:04am
post #10 of 30

okay.... I am a young 55 and I have run the gammit on scary decisions.The biggest lesson I have learned is not to wait to live while life is happening all around us. When I went through the "Katrina" experience , I suddenly knew that no matter what I thought I was not in control. You're in your twenties... Live your life, do what you love and love what you do.Find your passion and don't let the need for money dictate what you do ... there will never be enough .

MissCakeCrazy Posted 15 Dec 2009 , 12:23pm
post #11 of 30

I have just read all of your posts and I couldn't help but reply with my own story. I have a full time job doing somthing completely different and have been on maternity leave for a year now (ending in Jan). I refuse to work 5 full days a week and requested for my manager to allow me to work 4 days week. Childcare is so expensive that alot of the money will go on that. During my maternity leave I have been practicing on my cakes and made a website and given out business cards. I was hoping that the business would take off so I woudn't have to do my day job and be with my baby. I feel so distressed as I don't want to leave my baby, I am crying all the time.

Adevag Posted 15 Dec 2009 , 4:48pm
post #12 of 30

MissCakeCrazy, that is so heartbreaking. You are lucky you got a whole year of maternity leave but I wish for you that you did not have to go back to work. I only got 4 months when I had my first baby and I thought (during the pregnancy) that 4 months was a long time. Well, after 3 months went by I cried and called my boss and told her I just could not come back at all.
So to come back to topic, not that I had the best paying job to begin with, I chose to prioritize different things in life money could never buy. I guess it all depends on what is important to you. Yes money is great but you can be so rich with other things no money can ever replace. (I am now a SAHM with three kids...) Just noticed my typo that gave this a totally different meaning. I am at home with my three kids.
CakeForte, hope you find an answer that is right for you.

MissCakeCrazy Posted 15 Dec 2009 , 5:13pm
post #13 of 30

Its like I am torn between choosing between paying for my accomodation that I live in (I have a mortgage which I share with my husband and I am the higher earner even though my pay isn't that high) or being with my son. If I give up work completely, we won't be able to afford paying the mortgage. What are you doing now?

Kiddiekakes Posted 15 Dec 2009 , 5:33pm
post #14 of 30

Great responses everyone..Here is my take..

In my 20's I didn't much know or care about where I was headed except that I had a good PT job which paid every week and I had a car,lived at home and went out and had fun with my friends...Yes..I worked for Canada Safeway and back then..(In the 80"s) was making $18.00 an hour as a cashier 32 hours a week...Then took their buyout package and left to take courses and become something in Travel,Dental/medical admin only to find the pay was crappy...oh and did I say I got married at 23 and divorced 2 years later..no kids!!

In my 30's I got remarried to a wonderful man at 31...first child at 33 and second at 35..But debt crept in from owning a construction business and we found ourselves trying to stay afloat.It was hard..there were days I rolled pennies just to buy a jug of milk.Those days sucked...for lack of better words and both hubby and I got quite physically and emotionally sick from the financial stress..It took 3 years for me to get straightnened around with anxiety/panic attacks.Hubby has gout but it is managed.

Now I am 41 and for the first time in 6 years things are pretty good..We have paid off most of our debt and still get by on hubby's income.We aren't rich but we survive.We are both healthy and things are looking good.The economy here in Canada is much better compared to the US so for that.. we are Thankful...Has it been a struggle?? Without question but like someone said..I think ,Mike ....That after 40 you don't much care anymore about what people say or think and things become better..

Now you may be asking what all this has to do with the OP...Probably nothing but I just wanted to add my experiences in there and just say..Follow your gut instinct and it will guide you into the path you are supposed to take.


Laurel ")

ShelleyMJ Posted 15 Dec 2009 , 5:37pm
post #15 of 30

You will have many crossroads in your life. Only you can decide where you want to be. I can only tell you this.....

Live your life. Don't wait to follow your dreams.

I waited 26 yrs from the time I left high school to go to college and get my degree. I waited because I had a family to raise. Now I wish I hadn't waited.

The path you choose should depend on the long term goals you want to achieve.

Good luck to you.

CakeMommyTX Posted 15 Dec 2009 , 5:49pm
post #16 of 30

I would do what makes you happy.
I do cakes because I love them, the money is nice but I would still make them even if nobody bought them.
It makes me proud knowing I made something with my own 2 hands.
Even when I curse them and pull an all nighter I get to step back and say "wow , I made that!" and it makes me feel good.
I would'nt get that kind of feeling from punching numbers all day (that and I can't count worth a sh*t..lol).
So for me (a fellow 20something) I do what makes me happy, loads of money would be nice but not at the expense of giving up what I love.

Of course my choice may be made easier by the fact that cakes are my long term goal, and just so happens to be a future I'm happy with.

Donnagardner Posted 15 Dec 2009 , 6:16pm
post #17 of 30

I agree with Mike.......I would not take back the 20S for anything.......the 30S were ok but the 40S have been great and I can't wait until 50 next year. Do something you love to do and try to set yourself up as best you can for later on in life. Good luck.

enchantedcreations Posted 15 Dec 2009 , 6:18pm
post #18 of 30

Follow your heart; the money will ensue. Believe me when I say follow your passion. I just turned 50 and I speak from experience.... three beautiful daughters, two marriages (only one counts, ha ha) and lots and lots of life's blessed events, some of which I do not care to repeat but will remember for the rest of my days.

indydebi Posted 15 Dec 2009 , 8:26pm
post #19 of 30

I agree with Mike .... although it's not age and pessimism that turns us that way ... it's life experience. In your 20's, you haven't yet worked for the a$$hole boss who has, not an open door policy, but a "Trap Door" policy .... where he invites you in with any issues or problems and then slams the trap door on you when you do, which only teaches you "don't tell them anything because they don't care". Then you develop the "if they don't care, why should I?" attitude.

In your 20's, you haven't faced a corporate downsizing with a mortgage to pay and 3 kids to feed. In your 20's, you haven't thought about retirement and how much time you DON'T have to save for it .... and then the market plunges thru the basement, leaving whatever 401K monies you have worth even less.

In your 20's you are optimistic and energetic ... and that's a GOOD thing!

I was 48 when I opened my shop, after getting downsized for the 3rd time in my life. I am about to turn 51 and am starting back to college to finish my degree. Do I wish I had done all of this when I was younger? Of course I do. Do I regret it? No .... because I've had lots of adventures on the side roads of life. Instead of taking the interestate thru life, I took the back roads and the detours, meeting great people and learning ownderful life lessons that eventually led me to new and better adventures.

You're currently at the age where you CAN have it all. Don't miss an opportunity, no matter what it is .... don't overlook any experience as the great adventure that it is.

I'll close with a short story:
There was a young man who dreamed of being a wonderful singer. He took lessons and practiced his heart out. He finally had the chance to sing in front of his family at a family event. Everyone laughed at him. Now, this young man could have given up because everyone thought he was bad. Or he could have been motivated to work even harder and show them he COULD become a great singer. But fortunately for the people of the world, this young man thought, "Hey! I can make people laugh!" And we are all thankful and blessed that a young man named Bob Hope decided to explore one of the side roads of life and become the best comedian of our lifetime.

As the song says, "Don't Stop .... Believen'..." It's never too late. Too many of us are living proof of that. thumbs_up.gif

"Find your passion ... and you will know your purpose." -----Joyce Meyer

CakesGoneSweet Posted 15 Dec 2009 , 8:55pm
post #20 of 30

Indydebi!!! You are such an inspiration! I am a lurker here on most days but I love to read whatever you add to a conversation on here. This also comes at a time that is a crossroads for me and my family! To read your post here today is like a blessing! I came home from work today early because I just couldnt handle being there unhappy for one more day. Reading your post it just gives me that extra push to do what I love icon_smile.gif To have your input on this board is a blessing!

SugarNSpiceDiva Posted 16 Dec 2009 , 6:13am
post #21 of 30

Wow, I hope all these posts are helping the OP. They are definitely helping me. lol.

Ms. indydebi- Reading your post, I was like "CRAP!" lol. Its sad, b/c I've been through some (not all) of those things you mention and I'm only 25! As for the boss with the "trap door" policy, oh yeah, been there. I was in the army in a unit that had some serious leadership issues. Basically, in my unit, if you were a female who wanted to get anywhere, you had to be a wh***. If you weren't, life was very hard. I loved your story about Bob Hope! I didn't know that. I can really relate. When I moved away from home at 16, due to a bad situation and got pregnant at 17, everybody told me I screwed up my life. In my family, I heard the word "statistic" a lot when they referred to me. Not to mention I went from one bad situation to another when I married my ex husband. Now, here I am 25, 4 kids (no typo, really 4 lol), on my second marriage, but I am also staying at home, going to college online and working on two associates degrees: business and accounting. I've been told many times by my school counselor that I should apply for a scholarship to UCLA or USC, but I'm not sure how I would be able to do that with the kids. But I'm definitely working my butt off to show everyone I'm NOT the statistic they thought I was. I'm actually the first ever in my family to go to college.

Anyway, sorry for that book. By reading all your posts, I can tell yall are extremely wise! And like I said, yall definitely give hope to us in our 20s! Thank you so much! icon_biggrin.gif

CakeMommyTX: I agree with you! I'm so glad that people here on CC can relate to me when I say this is my DREAM! Has been for the longest time. I just actually got the guts to just do it a couple years ago. This is what I want to do. Well, its one thing, but I don't ever see myself not wanting to be a cake designer. It's definitely my long term career goal.

Oh and MissCakeCrazy- I'm so sorry about your dilemma. I know you don't think so but you are lucky to have a year. Most jobs where I have lived especially when I was in the army, you only get 6 weeks. And in the army, they can deploy you 6 months after having a baby. But I'm really sorry you are having such a hard time with it. I got out of the army to spend more time with my kids. It was hard for the first few months, but I'm lucky, cuz I have my GI Bill to pay me to stay home and go to school. I really hope you work it out. AND CONGRATS ON THE BABY!!

Ha Ha, again, sorry for so long. icon_redface.gif

CakeForte Posted 29 Dec 2009 , 7:04pm
post #22 of 30

Thanks for all of the replies/ perspectives! Sorry I'm just now responding. I lost the thread, then went on my first European vacation for two weeks for the Christmas holiday and am just now getting back.

Anyway...my crossroads has more to do with the "limbo" phase between getting my shop off of the ground and my current job...which I LOVE...but it just isn't enough money anymore now that I have thousands of dollars of student loans to pay. The money is the only prob with the current job. And the current job is what has allowed me the flexibility to go to grad school AND start a biz and get it to this point.

My next BIG goal...is the cake biz. I'm just at 3 years and things are starting to fall into place...but the money burden is what is getting very heavy me. (Really my goal is financial freedom...and I think the cake thing is how I will get there.)

If I get a different job...which I don't even know how fast that would happen. The cake thing would basically have to stop where it is for a little bit.

A lot of the things everyone has talked about...I've done already. Dream job that turned into a bad dream.lol...check. advanced degree...check. really fun jobs...check check check. My own cake biz is def what I want to do for a long while. I'm just really really tired of stressing about covering my bills each month since the cake thing isn't "there" yet.

Anyway...My current plan of action right now is to ask for a raise, market cakes like crazy, apply for higher paying jobs. With the hopes that my marketing works and the cake biz starts to build. I've also hired an intern to help with the marketing part...so I can cover more ground. IF i get any interviews...I'll go an see what happens....but I really am hesitant to move to a big corporate job even if it does ease the money burden.

Thanks for listening and the guidance!

tashistation Posted 29 Dec 2009 , 7:40pm
post #23 of 30
Quote:
Originally Posted by CakeForte

(Really my goal is financial freedom...and I think the cake thing is how I will get there.)




I've been working on my cake business plan for a few months and no matter how I run the numbers, I don't see how doing custom cakes is going to give me the financial stability and freedom I'm looking for. I've tried a lot of different scenarios but it seems like no matter how many cakes I can crank out a week, along with other seasonal things like gift packages, cake classes, etc, I'll never make as much money as I do in the corporate world. I'll be the first to admit that I'm not a numbers gal, so maybe I'm missing something obvious...

anyway long rambling response but basically what I'm wondering is how you see the cake business giving you financial freedom. How many years til that happens? What sort of bakery do you plan on having, is there a storefront, cafe?

If there is a previous thread that covers this please let me know, I don't mean to hijack this one...

globalgatherings Posted 29 Dec 2009 , 9:03pm
post #24 of 30

Okay, really?? Quote" I just got back from a 2 week European vacation"

Quote" I'm tired of stressing out how I'm guna pay my bills"

O to be young again!!!!

HELLO??

globalgatherings Posted 29 Dec 2009 , 9:07pm
post #25 of 30

Okay, come on you guys, this thread must be a hoax?? It's not the first time that's happened

CakeForte Posted 29 Dec 2009 , 9:08pm
post #26 of 30

You know what. Whatever..that comment really wasn't necessary. The trip was a GIFT because I finished my master's. Something not many people do.

CakeForte Posted 29 Dec 2009 , 9:17pm
post #27 of 30

Comments like yours are why people do not like posting on this board. It's uncalled for. Just because I write something doesn't mean it's happening only at that moment. This has been something going on for a long time, and I opened up to thread because I felt comfortable sharing with those that have successfully launched a business.

If you don't have anything to contribute to the thread...don't say anything at all because I don't need to hear your negativity. You don't know my entire situation and I've only shared 1% of the problem. Don't go calling things a hoax just because I shared that I got the chance to go on a vacation which I worked 3 years for...not that I needed to even justify that to you.

globalgatherings Posted 29 Dec 2009 , 9:21pm
post #28 of 30

My apologies, congrats on your masters, it's just many of us especially in this business cannot afford trips such as that and maybe that's your answer right there, stay in the corporate world if the money is important and if not open a bakery

globalgatherings Posted 29 Dec 2009 , 9:29pm
post #29 of 30

Answers to questions about life come in various ways, it was not meant to be hurtful, just objective. I been in the food business my whole life, it's a really tough way to make a living.

tashistation Posted 29 Dec 2009 , 9:59pm
post #30 of 30
Quote:
Originally Posted by globalgatherings

Answers to questions about life come in various ways, it was not meant to be hurtful, just objective. I been in the food business my whole life, it's a really tough way to make a living.




I think you just answered my side question about how to make a good living at it.

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