Know When To Hold ‘Em, Know When To Fold ‘Em

A good friend of mine left his full-time job about 4 years ago, and has made his living through his e-commerce site since then. At the time, this particular niche didn’t have a huge presence online, and he was able to make a decent living from it. But over time, more and more competition has threatened his business, and as such his profits have diminished. Couple that with a soft economy (dare we say Recession?), and his business is hurting. The business model is solid, and I believe that with the right SEO, SEM, and Social Marketing initiatives, he could make a name for his business and do VERY well. In the meantime, he’s dabbled in affiliate marketing, making around $9000 last year from his efforts..

The million dollar question: “What do you do?”

The question is made all the harder, as a recruiter recently contacted him and offered him a 2-year contract position that pays $130K/yr! But after 4 years of working without a boss, the thought of going back into the corporate world is daunting.. Yet it’s hard to argue with guaranteed income, especially when it’s paying that much.

I honestly don’t know what to tell him. On the one hand, I truly believe that he has a solid business, and with the right amount of time and nurturing, he’ll be able to make a GREAT living with it – Or even sell it to one of his competitors for a mountain of money! But things aren’t always as simple as they seem, and he might regret not taking the guaranteed money that comes with this contract.

Napolean Hill would have you believe that the mere thought about an exit strategy is setting yourself up for failure, and that you must have absolute faith and determination in order to succeed. What do you think?

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