Thursday, May 05, 2005

My $2500 Predicament

Hmm, what to do...what to do. As most of you know, Jeff and I are starting up a business. We feel this business could be very lucrative if done correctly. But, we are to the point now where nothing is going to get done one hour at-a-time in the evening. However, we both need to take off work for a week, get our papers filed with the state government, get the business and a client base started, etc. Obviously this is not something that we can do after we get home from our other jobs everyday. Here is where my predicament comes into play....

I sent an email to my parents asking them for about $300 each. This would go to offset the paycheck I would not be receiving for my week off of work; I would in turn still be able to eat, pay bills, buy gas, and just in general live. This $300 is not any type of investment into the business.

Well my father, as to be expected, gave me a "counter offer". I have been mulling over the idea for over 24 hours now, and think I have made my decision. He told me that he only has about $2500 left in my college account, and with my brother rapidly approaching college age, he has to start saving for him. He told me that he would give me that $2500 to do with as I please; meaning bills, business, or otherwise. I think I am going to go ahead and take him up on the offer, and here is my reasoning:
  • If all goes to plan, next year I will be going to OU. OU full price is about what I am paying at TCU now after all my grants. After all my grants kick in at OU, it will be considerably cheaper. If the business kicks into gear like it should, I would have no trouble at all paying the half of my college tuition that my dad wont cover anymore.
  • My second year at OU, I will be considered an "in state resident". Therefore meaning the price would drop even more. The my grants kick in, etc., etc.
  • The $2500 would not only cover the $200 I have to pay to get this license to operate, but also any other start-up expenses that may arise....which to our calculations should be rather minimal. The rest would pretty much go into savings.
  • After my week off from work to get this started, I would return to work part-time for at least my last two weeks...maybe longer. With this being the case, I would still get an OK income from part time work to help with other living expenses that arise. So, it is not like I would just be living off his $2500.
  • If the business goes south I would have most of his money left in savings, so it would not take long to get back the money that was spent before school starts up next year.

So, I think I am going to go ahead and take the $2500, get this business started, and live happily ever after. I don't see any flaws in my thinking, and to tell you the truth I am actually very proud of myself. I think Jeff and I have put more thought into this business endeavor, than anything we have before. We are really trying to do this the right way, so we won't get shit on later.

I think it will all work out. Good offer, dad. I accept.


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