I grew up in a traditional household.  My mom was a teacher all her life until retirement.  My dad has worked for a few companies over his lifetime, but worked for the last one for 15 or 20 years until he was forced to retire early due to cutbacks.  I grew up in an environment permeated with the attitude of “get a job, work hard, be loyal and they will take care of you.” 

As I grew up, I discovered that the culture and rules of the game were changing.  I also had the growing feeling that I didn’t want to be a cog in the machinery – that there is more to life…  Now I’ve read many investment/money/life management books which helped plant ideas, but that I never fully implemented the ideas.  I assume that would be a similar tale for most people.  A catalyst was needed: something to break the inertia of staying in my current condition.

I live in the Pacific Northwest in the US.  Many of our major companies (and smaller) in the area have started major layoffs.  My company announced layoffs too.  (Luckily, I’m in a position that is very safe – mainly due to the department I’m in.)  Also this area is IT company heavy so now the market is flooded with extra IT people.  I just got into the field 2 years ago and am going back to school to fill in the gaps.  I would have a hard time finding a job in my field if I were laid off.  I had one of those eye-opening, sinking feelings of how dependant I am on my job and how I’ve willingly spent myself into a form of slavery.  Despite good intentions and some awareness, I had completely surrendered to the consumer trap without realizing it.  While staring at the red pill, I unconsciously took the blue pill.

The catalyst had arrived.

So where to go from here?  I felt very strongly about needing to get this in order and get it started that I am taking time off from school to do this.  I’ve taken off spring and summer quarters.  My own path has been influenced by several different sources. I’ve listed below what I would consider the strongest influences on me in deciding how to move forward:

Early Retirement Extreme at http://earlyretirementextreme.com/
The Art of Nonconformity at http://chrisguillebeau.com/3x5/
Your Money or Your Life by Joe Dominguez and Vicki Robin

I first started with the idea that I needed different ways of bringing in income.  I believe the hot phrase is “multiple streams of income.”  Now I’ve tried several different things in the past and they didn’t succeed.  I wasn’t passionate about those ideas so the effort and desire were not there.  This was my first priority: figure out side-businesses that I am passionate about.  Over a couple of weeks, I came up with eight ideas.  Most likely only three or four have any decent chance to be a viable side-business, but I didn’t want to limit myself while brainstorming.  The next step, I got from The Art of Nonconformity’s “how to conduct your own annual review.”  I took a week off from work.  I spent most of that time in various coffee shops with a notebook and letting my mind gently focus on the task at hand.  I explored the side-business ideas, discussed those ideas with a few close friends to get feedback, listed what I had accomplished last year, and what I want to accomplish this year.  After a week, I came up with a fairly solid, life-balanced plan.  It is a good feeling.

So what are my end goals for the side-businesses?  I am not looking to make them into a full time job (neither would I ignore the chance if it appeared), but just to supplement my income.  The combination of supplementing my income and reducing my expenses will reduce the disparity between the two.  Who knows, maybe someday they will cross over and then I will be able to live on the side-business’ income if needed.

So my catalyst has arrived and broke that inertia.  Now I have to consciously keep moving and be more aware lest I fall into the trap again.

And you?  I’m curious about other people’s experiences with starting side-businesses or breaking away from consumerism.  Have you done it?  In the process or planning to?