do you work for yourself?

[tuc biscuit]

Are you the business owner? or just self employed?

what are the benefits and bad bits of it?

would you reccommend it?

could you ever go back to being part of a chain of command?

what do you do?

 

[tuc biscuit]

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[SoKlueles]

um no

 

[wootoom]

i am Tuc. the benefits are great in a way. you can write things off. taxes is the worst part of it up here in canada. i would totally recomend it. me and my bro own 5 coil tubing service rigs. they are like oil rigs except we work with gas instead of oil wells. hope that helps.

 

[manny78]

what are the benefits and bad bits of it?

You have the control on almost every aspect of your job. If no money gets in, you can only blame yourself or your partner. It's hard sometimes for your ego but at least, solutions are easier to find.

Bad side: dealing with stupid clients. Soon you realize a dumb clientis a real cancer. Also there's a lot of stress involved in the first months.

would you reccommend it?

Yes, if you have a clear picture of your future business.

could you ever go back to being part of a chain of command?

Fuck no.

what do you do?

importer/dealer

 

[tuc biscuit]

nice replies so far chaps, wootoom; tell me more about your business please, it sounds quite big-time

keep the relies coming please

 

[manny78]

nice replies so far chaps, wootoom; tell me more about your business please, it sounds quite big-time

keep the relies coming please

ask specific questions and I'll might be able to help you.

 

[tuc biscuit]

ok, my idea for now is for a t-shirt business with funny/topical slogans and logos on them (also b'bing ones), there is a guy I know in the uk who is selling a similar business www.rogerthedog.com I am wondering whether to buy a small business and see how it goes or whether to try and start from scratch

 

[manny78]

ok, my idea for now is for a t-shirt business with funny/topical slogans and logos on them (also b'bing ones), there is a guy I know in the uk who is selling a similar business www.rogerthedog.com I am wondering whether to buy a small business and see how it goes or whether to try and start from scratch

Buying a small business will provide you a base of clients (usually). This is true in most business unless the sevrice provided is personnal (attorneys, accountants...). BUT you better know how the business operates otherwise you're screwed. SIt down with your accountant and check some ratios with him (acid test, working capital, debt to equity, loan loss ratio, financing ratio....). Cause a small business made profits last year doesnt mean shit.

Starting from scratch is hard and painful for the first months/years, but at least you get to know your stuff, clients...

 

[tuc biscuit]

yeah, thanks manny, the outlay would be minimal for that web business there i think, it would be to get my feet wet in the business world, I would want to keep all his designs, but expand into more mainstream stuff too, if I was gonna buy it I would only spend what i could afford to lose, I'll speak to the guy and get all the figures and see how they look

luckily my dad is a business owner and made a lot of money in his earlier days by starting up businesses, getting them running and selling them

 

[Code]

LOL, something I find funny about the statement, "I work for myself now".

I always ask people who say that, "Were you working for some other reason before?".

 

[tuc biscuit]

LOL, something I find funny about the statement, "I work for myself now".

I always ask people who say that, "Were you working for some other reason before?".

well there are some jobs like the one I do now, where no matter how hard you work, or how much initiative or good ideas you have, your salary doesn't vary much, so i suppose you are working for the company owners or share holders rather than yourself

 

[manny78]

well there are some jobs like the one I do now, where no matter how hard you work, or how much initiative or good ideas you have, your salary doesn't vary much, so i suppose you are working for the company owners or share holders rather than yourself

That'S typical of public servants.

 

[tuc biscuit]

I hate working under the authority of people who I consider inept, people who have been in the company years and kissed the right asses, and are now some middle managment yes men/women, this is one of the things I don't like.