Ok, brief background:
In 2010 I reached the point where I had to find a way to make a little $ outside my day job. Got into IM. After trying a dozen things out with very meager results, I decided early 2012 to do offline marketing. Started out doing done-for-you social media. Did that for a few months then decided to try building mobile websites for local businesses. I found that I enjoyed mobile a ton more, and that offline businesses see a ton more value there than in social media. So I decided to shift my efforts entirely.
Keep in mind, this has all been on-the-side while holding down a full time job.
The wheels started turning with the mobile business. I was enjoying it and getting excited.
Then this happened.
The company I work for decided to do yet another round of lay-offs. I honestly wish I was one of the ones they let go. It would have provided significant motivational fuel to get the offline biz taking off, plus a couple months income cushion.
But instead, I'm the one they dumped all the extra work onto. I was working crazy hours before, sanity hanging by a thread, and hardly ever seeing the wife and kids. Now the workload itself is just unbearable, and there is no way I can possibly continue to manage juggling a full time job and start an offline marketing biz at the same time.
So something has got to go.
Here are my options as I see them:
Option 1: Ditch the offline biz and focus only on my current job.
The Problem: Insufficient income to support the family, and will only get worse. Not to mention I've kind of reached a dead-end at the company and have no foreseeable hope of things getting better.
Option 2: Quit my job and focus entirely on the offline biz.
The Problem: Big risk. I know that most start-ups fail. And I don't have enough cushion to get me through even a short period of time, so would have to start making $ like immediately. Not that I couldn't do so; I've managed to get some offline clients while working full-time, so I know I could do much more if I could dedicate myself entirely. But still, it's a big risk and with the fam depending on me, not sure if I want to take it.
Option 3: Ask to be laid off. There is a good chance there are more lay-offs coming. I am tempted to go to my boss and tell him I don't want to quit, but if there are more lay-offs coming, I would like to be considered.
The Problem: They may very well just walk me out the door on the spot if I do this with no package or anything, then I'm back to the same problems as option 2.
Another question on my mind is if I should see about getting a loan as I leave the job and start the offline biz, just to have a little income for basic necesities. But I know banks are hesitant to loan to new startups, and I would rather not go further in debt if I don't have to.
Ok, I won't ramble on any further; you get the point and see where I'm at.
Bottom line is I can no longer juggle between the full time job and trying to make $ on the side with offline marketing. One or the other has got to go. I will ultimately make and assume full responsibility for the decision, but appreciate any thoughts or input you might have.