While a lot of people love the idea of quitting their job and starting a business, actually doing it is another thing. The quitting part is simple, but the starting a business portion is quite a bit harder. Just ask Ben Cohn & Jeremy Rosen, co-founders of TAXIBOX Mobile Self-Storage in Australia.
These guys left behind comfortable, well-paying management consulting jobs for the unknown. They thought that had a good idea, but until you actually leave behind your old life and start a new one, you never know how successful a business can be.
As young professionals in the 20s, they have relatively few responsibilities. With no kids relying on them, they decided that this was the time in their lives where they could take a risk, drop everything, and start their own business.
After setting up a temporary warehouse in Melbourne, they quickly outgrew it and needed a larger space. They got a 3000 square meter warehouse and invested thousands of their own money in delivery trucks and machinery. They spent the majority on the many taxiboxes (storage boxes that house people’s belongings).
They rejected tempting approaches from Private Equity firms offering funding deciding instead to proceed with private money. In return, they were able to keep the entire company in their names instead of selling part of the company to a third (or fourth) party.
Less than 3 years later, Taxibox has expanded from Melbourne to Sydney and the pair are hoping to move the now iconic Aussie brand into more states and even into South East Asia in the coming years. Year over year, the business has grown by up to 200%. The idea is catching on and while some would say that these two guys have made it, their journey is just beginning.
Starting your own business can be very scary, and these two young men gave up the comforts of corporate jobs with consistent income for the unknowns of starting their own business. However, if you really believe in your idea, you have an appetite for and can afford to take on some risk, starting your own business is one of the most rewarding things in life. Just ask Ben & Jeremy.