Too much of a risk. . ?

DisplacedDiraac · Post by **DisplacedDiraac** » Mon Sep 17, 2012 4:53 am

If you had a great business idea/plan.. Would you kick start your business by selling your house *not the one you live in but another one you own but rent out*..
Or is that just too much of a risk?..

1nemansquad · Post by **1nemansquad** » Mon Sep 17, 2012 5:01 am

Fortune favors the prepared mind, if its well thoughtout idea then put your trust in Allah and go for it.

truther · Post by **truther** » Mon Sep 17, 2012 5:02 am

My grandmother told me never to sell land/houses/buildings. So I wouldn't.

1nemansquad · Post by **1nemansquad** » Mon Sep 17, 2012 5:06 am

truther wrote:My grandmother told me never to sell land/houses/buildings. So I wouldn't.

Very wise grandmother

greenday · Post by **greenday** » Mon Sep 17, 2012 5:10 am

If its not the one you live in and the idea seems solid, why not? you have to take risks

Eaglehawk · Post by **Eaglehawk** » Mon Sep 17, 2012 5:48 am

westlandshawty get this book it will give you alot of info and upgrade your financial literacy

GIJaamac · Post by **GIJaamac** » Mon Sep 17, 2012 5:50 am

Is the house located in somalia ?

Hyperactive · Post by **Hyperactive** » Mon Sep 17, 2012 6:03 am

that's not risk at all. it's second house. at least if i lost i know i have roof of my head. seems good idea to me.

PrinceDaadi · Post by **PrinceDaadi** » Mon Sep 17, 2012 6:16 am

Robert Kiyosaki's book is a good beginning if you are financially illiterate other wise it is so basic.

Risk? if we dont take risk we will gain nothing, in English, they do say "Nothing ventured Nothing gained".

DayaxJeclee · Post by **DayaxJeclee** » Mon Sep 17, 2012 6:37 am

Having Started my business a year ago, i can tell 1&2 things. Having plan and idea is well and good. Experience is most valueable thing. Don't follow the crowd, test you ideas reliabilty,before you commit any asset. Find customer and make sure to set yourself target etc..
I have 2 different stalls in posh area in london and i sell handmade product... Full time jobs

... I started in covent garden on sundays. Portabella road

.
Never Ever sell anything to somali ladies.......

..

Downside, waking up 4:30 am and sometimes going to bed 01:00.
Haddii aa sii wado waa is qarxinaa.

Good luck and be strong

Areesa · Post by **Areesa** » Mon Sep 17, 2012 6:42 am

I wouldn't sell any land I owned.

skywalker25 · Post by **skywalker25** » Mon Sep 17, 2012 6:57 am

It all depends on your business plan and the risk involved. Being honest with yourself and keeping your feet on the ground is key to deciding whether to go ahead or shelf the idea. A project that requires you to sell a house seems like a huge step for a first time project. My advice is invest a small amount first to get a feel and if it goes pear shaped, at least you've not lost a house.

I have started or been involved in 4 different businesses projects. Two failed and one has succeeded and the third is still in the balance. I have lost alot of money and made some. One of my main competitor did sell his house to start of his business and his cleaning up. I on the other hand had a relatively small investment having jumped at with eyes closed a few times, and have not made as much as him. But being self employed and having your own business has alot of pluses and alot of negatives. Not everybody is made for it. Some ideas no matter how good they are wont succeed due to the personal involved. This one of the main reasons alot of business fail. The idea can be water tight but the application is incorrect.

DisplacedDiraac · Post by **DisplacedDiraac** » Mon Sep 17, 2012 10:22 am

Got that book already..
Haven't read it yet though..

truther wrote:My grandmother told me never to sell land/houses/buildings. So I wouldn't.

Yeah its this right here..
I would also include 'dahaab' into the mix..

xiinow wrote:Is the house located in somalia ?

No..

Saraxnow · Post by **Saraxnow** » Mon Sep 17, 2012 12:09 pm

Tbh, it really depends a lot on how feasible your business idea is and how many stakeholders are involved. If I was confident enough with the plan and prepared for any bad scenarios, I would do it.

S-D-M · Post by **S-D-M** » Mon Sep 17, 2012 12:16 pm

I thought business itself was a risk taken....

To dare is to lose one's footing momentarily. To not dare is to lose oneself. ~Soren Kierkegaard

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