Two great options....which one would you choose?

[Devon]

I have the opportunity to get into business myself, the two seperate options I have would be great...my problem is, I dont know what one to do....I cant do both because my attention needs to be %100 on one company.

Her are the two....what one sounds more promising??

#1 I have invented a tool for the construction industry and have it patented and ready for production.....I would be marketing it. I have past experience and take a lot of the risk out of the equation. I can work it from a home office 80% and 20% in the field.

#2 Is get back into the company I once had and did fairly well with....its a matter of buying my equipment and Im back in the game.

Both will take my full attention and about the same amount of funds to fire up....#1 is costing a little more with a little more risk but returns could be huge.

#2 has little risk and would be up fast and income would be above normal but without much risk.

I am tryuely on the fence and dont know what to do here....#2 I did for years and got out because of burn out and at the time I didnt have as good management skills as I have now. #1 has been in the works for 3 years and I have a lot invested....could flop! but could be huge...I have faith that its a great idea and have contractors showing good signs of interest.


Any feedback would be appreciated!

Devon

[BNB]

Go with #1 for sure. If #1 flops, you can always jump back in with #2. Or man up and do both. Nothing wrong with working the extra hours when it needs to be done.

[KristineS]

My gut says go with number #1 because the potential is bigger. Plus, you've already done #2 and eventually left because you were burnt out. Why go back to that? Either way, there is risk. A lot of companies that we thought were solid have gone belly up or released workers, so there's no guarantee that working for someone else is safer than working for yourself. I'd pursue your own idea and see where it leads you.

[StefanT]

It seems you talk more enthusiastically about #1 so I would go with that. Whenever possible work on what ignites your passion. It seems #2 is more like a Plan B or else you would have never had gotten into #1.

[jimr451]

Since you have a patent on #1, you could also consider licensing it out to another company to sell. There are established "tool" companies that have the branding and production capabilities to make it sell. If you could negotiate a good deal there, you can pursue #2 and let #1 take care of itself.

Just a thought - otherwise I agree that #1 seems to be what you are more passionate about.

-Jim

[cjarrodsnow]

I agree with BNB, go for #1. If it fails, then you can always fall back on your experienced trade. Additionally, in pursuit of building your new business you will be networking in your industry and that may lead to new avenues as well. Key to any venture is passion, persistence and determination.

[huggytree]

id do #2 because you know it will work....and s l o w l y do #1 when you have time and money....or sell your tool idea and let someone develop/sell it

everyone here says #1 w/o having any idea if your idea is good or not....if we could see a photo and hear a description the answers could be completely opposite. just because an idea is good to you doesnt mean its a tool anyone wants.

#1=risk
#2=low risk

[GreaterVisibility]

Not a fan of only having two options, myself. What are you doing right now for income? Can you continue doing that while maybe working on #1 on the side to see if there is any interest? If you're unemployed or something and need to start one or the other, I'd go for #2 but I'd still work on #1 on the side and see what I've got there. Sorry, I just don't believe that it has to be absolutely one or the other. Maybe start #2 on a smaller scale if you have to and go slow on it but eek by while working on #1, but whatever I did, I'd try to find out one way or another what the verdict is in the marketplace as to #1. That way you can either go with your invention and ramp it up with some hope, or just move on instead of having it sap mental energy for a dream that is only a dream. Find out the reality on that invention as fast as you can.