This was asked by one of my followers who want to create a journey for his Financial Freedom.
I gave him my insights on what are the things to know first before joining the business.
Click to watch. This is a Live Q&A I do every week on Instagram. Follow @freefinancialself on Instagram to join.
Here is the full text of the video:
Hello and welcome to another Live Q&A session in Instagram about financial freedom and personal finance. And today as you see I’m broadcasting from Times Square. As you can see right behind me, I’ll get around here.
So before we start with the question. First I’m going to give the opportunity to people online to ask a question. They can join live. So, I have a question today from Fred form Hong Kong and he’s asking me about joining a startup.
“I have about $35,000 in savings and should I join a startup as a partner or as a co-founder”.
So my answer is this Fred.
It really depends what’s stage this startup business and when they are planning to raise money or on the other hand bootstrap and probably putting more money or having more money coming to the company so can start drawing a salary. So this is definitely a key question that you should ask your other partners and maybe that would be something that you should do. Also how much they’re going to pay, what would be the benefits of your share at the company. and also how much you’re spending each month.
So, $35,000 dollars.
How long that will last you for surviving?
Where you gonna live and how much you gonna spend?
What are you doing to make more money? maybe as a side hassle while you’re there, while you’re working for that company?
So these are all things to consider.
Okay, If there are no more questions. Fred I hope that will helped you..
I’m here every week Live every Wednesdays with Q&A session on Instagram. So be sure to follow on Free Financial Self. And also send in your questions or join in live.