Would you take the risk and sell your car?

Prodigy

I`m a 21 year old college student. I have absolutely no cash. I can probably get about $1300 for my car and use it to startup my business. I feel that I have nothing to lose. My guts telling me to go for it. What do you think?

robertj

While there are some people that believe an entrepreneur should have a big stake in the company - most savvy investors don`t encourage situations where the entrepreneur`s personal finances are on thin ice. They want him/her to be able to concentrate on building the business.
For your specific situation, the primary questions I would have are:

Will the $1300 be enough to get your business to the point where

It will support you?
You will be able to attract additional capital?
It will be profitable or at least self sustaining?
Will you be able to function (both business and personally) without a vehicle?
As an aside, before you sell the car, I`d have my business plan pretty well completed.  That should indicate the answer to question 1 above. If possible seek out the advice of a Veteran entrepreneur especially for confirmation of your assumptions.
Robert j robertj2007-7-9 13:0:22

Prodigy

You know what, I am so confident that not having my car would actually motivate me to do even better. I might sound nuts but it wouldn`t be the end of the world should the business not be a success but it WILL. I have this gut feeling like I never had before.

thomor

I actually did exactly that, but my car was worth a lot more than $1300. I think it really helped me get motivated with the business. Because I don`t waste time going out.Honestly I don`t really have that much use for the car, + when you work from home its really not a necessity. And in my situation, I can always borrow my parents` car for the day, if I need to run an errand.