Exploring Life on Credit Loans

  2003/3/19 02:44:48 PST (newland, bcchinese)

  Life can be tough if one quits or resigns from his job (instead of being laid off) before he has a solid offer in writing, without a package from the previous employer or unemployment insurance from the government.

  Even in a hot field, the turnaround time is usually at minimum 1-2 months in terms of getting another full-time job, under such a cold economy.

  Starting one’s own business (by contracting first) is another story -- one has to get used to the uncertainty and insecure feeling after all. One has to spend the "incubation" time preparing his business plan, digging client base, and hunting and networking patiently, without earning anything. As books say anyway, one needs to prepare for lower standard of living for as long as 1-2 years! As long as one sees some lights through the tunnel, he’d better hang in there even if he has to borrow money from personal lines of credit. With a family, however, the financial hardship should be avoided if possible, with at least one permanent income (oneself or the spouse).

  No matter what, the time should not be lost -- If one is not earning, he must be preparing (not just skill-wise but more on the business side and planning)!

  This is what I myself have tasted voluntarily in the past 1-2 months. Thank God it’s over for now, and I am switching into another full-time shelter. The biggest achievement is: I can see how to fix my broken business plan now, which I’ll definitely pursue further on the side.

  I write this to encourage myself and give others a chance to ponder and comment. Good luck in your own exploration.