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Self employed?
- Thread starter jd_uk
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calveless wonder
New member
Being self employed is good if you truly understand you ARE your business. You pretty much have to live, sleep and breathe your business (unless you have alot of the responsibilities delegated, and even then there are certain executive functions you always must perform to keep the business running smoothly)
It depends on the field, really.
You obviously have to be comfortable enough to know what you're doing in your field order to be self employed. You also have to be a natural leader(if you have employees) and treat your employees like family.
More importantly, you need the resources and connections in order to be on your own. If you're not at that point a related job in the industry will help you establish those. Eventually you hit the ceiling and realize "hrmm...i do pretty much everything for this business yet im making someone else richer".
there is great reward, but also great risk
the flexibility is great, but the responsibility is considerable. discipline is very very very important
It depends on the field, really.
You obviously have to be comfortable enough to know what you're doing in your field order to be self employed. You also have to be a natural leader(if you have employees) and treat your employees like family.
More importantly, you need the resources and connections in order to be on your own. If you're not at that point a related job in the industry will help you establish those. Eventually you hit the ceiling and realize "hrmm...i do pretty much everything for this business yet im making someone else richer".
there is great reward, but also great risk
the flexibility is great, but the responsibility is considerable. discipline is very very very important
calveless wonder
New member
and if you don't have sales or marketing skills, you're probably screwed. everything in one way or another relates to those two. even if it's not a product, you always have to sell yourself
lumberg is self employed
he is relatively new at it (last 6 months or so)
luckily i have made enough money for him to focus on getting his business off the ground and he doesnt have the burden of also working a full time job onthe side
but we're moving so he'll have to build up the business in another part of the country
but that shouldnt be a problem
if anything i have lots of connections and networking possibilities for him out in WI
he is relatively new at it (last 6 months or so)
luckily i have made enough money for him to focus on getting his business off the ground and he doesnt have the burden of also working a full time job onthe side
but we're moving so he'll have to build up the business in another part of the country
but that shouldnt be a problem
if anything i have lots of connections and networking possibilities for him out in WI
Interior Designer
I have 3 clients that have not put the brakes on their projects, one ongoing job and two very small jobs, the construction jobs are dead and one is completely shut down unless he dumps the house as is or lets it sit nothing's going to happen anytime soon.
There's something to be said about being your own boss, your success is all yours as are your failures but it's also your responsibilty that you always have work and keep your name in good standing. When you work for someone else you just have to show, do you job, collect a check and when you leave work you can choose to leave it or take it home with you. When it's your own biz it's 24/7 (just my experience).
I have 3 clients that have not put the brakes on their projects, one ongoing job and two very small jobs, the construction jobs are dead and one is completely shut down unless he dumps the house as is or lets it sit nothing's going to happen anytime soon.
There's something to be said about being your own boss, your success is all yours as are your failures but it's also your responsibilty that you always have work and keep your name in good standing. When you work for someone else you just have to show, do you job, collect a check and when you leave work you can choose to leave it or take it home with you. When it's your own biz it's 24/7 (just my experience).
calveless wonder
New member
Smurfy said:
ADHD
but smart people with ADHD delegate most of their administrative functions. and you can always improve your organizational skills
yes, Lumberg struggles with ADHD toocalveless wonder said:ADHD
but smart people with ADHD delegate most of their administrative functions. and you can always improve your organizational skills
he's VERY easily distracted by the littlest things and he cant multi-task very well at all
but he's damn near brilliant
S
silverstar1025
Guest
Hubby got out of corporate in April and he loves it, but it is stressful right now. It will get better with time I am sure. He was a great manager in corporate and he works hard and is very organized so I know we will be ok 
I plan to quit once I can't handle juggling working my day job and helping our business too.
I plan to quit once I can't handle juggling working my day job and helping our business too.
awesomesilverstar1025 said:Hubby got out of corporate in April and he loves it, but it is stressful right now. It will get better with time I am sure. He was a great manager in corporate and he works hard and is very organized so I know we will be ok
what kind of business is it>?
S
silverstar1025
Guest
Smurfy said:
Landscape & Irrigation company for commerical and residential. He is not the one out there doing the cutting though so you can't call him a wetback. lol
He has a crew that does that. He just manages the crew and go do estimates,etc. He is really enjoying himself. He has been doing computers since he was 19 so he likes the freedom and the change.
oh very cool!silverstar1025 said:Landscape & Irrigation company for commerical and residential. He is not the one out there doing the cutting though so you can't call him a wetback. lol
so he owns his own landscaping company
that sounds great
good luck!
S
silverstar1025
Guest
Smurfy said:
Thank you
Hopefully alll the hard work will pay off soon.
S
silverstar1025
Guest
Paul_Allen said:
You must be ballin! I think oil and I think $$$$$$$$$$
S
silverstar1025
Guest
Paul_Allen said:
How did you get into this type of business? Is it a family business that you and your bro now take care of?
My dad started this company..He had 23 before this company and then he sold out. He started this other company when my bro and i were working on the rigs..We ended up buying him out and we took it over. he had 1 rig and my brother and i expanded to 8.silverstar1025 said:
Razorguns
Well-known member
I have too many skills and knowledge to work for someone else. If I did, my talent (and salary) becomes limited. And higher positions, where my talent can be utilized, are off-limits due to my age and length of resume.
Therefore, being self-employed is the only option.
Example: Bill Gates had no choice but to start his own company, since IBM wouldn't even hire him if he tried at the beginning.
If you're not okay with working til 2am every night and sacrificing saturday nights - being self-employed is NOT for you. Yes this cuts off most middle class warriors with screaming kids. C'est la vie.
r
Therefore, being self-employed is the only option.
Example: Bill Gates had no choice but to start his own company, since IBM wouldn't even hire him if he tried at the beginning.
If you're not okay with working til 2am every night and sacrificing saturday nights - being self-employed is NOT for you. Yes this cuts off most middle class warriors with screaming kids. C'est la vie.
r
S
silverstar1025
Guest
Paul_Allen said:
Sweet! Always helps to have family get your foot in the door. How is it working with your bro? I ask because my hubby's bro wants to join forces and get in on the company in a yr when we get things stable. Do you guys get along being partners? Any problems we should be aware of? He and his bro get along very well, but you know business and money can sometimes screw a relationship.
S
silverstar1025
Guest
Paul_Allen said:
omg same situation with us. We love his bro and get along so well, but his wife is something else. The only concern we have is her. We think she could be a problem because she talks a lot of bs and she may fill her hubby's head and cause issues.
Bikini Mod
New member
calveless wonder said:
^^ times one thousand.
Too many people think that all they have to do is offer a product/service then you pull open the window and watch the money fly in.
NOT.
My family was self-employed. My ex and I were self-employed. I was self-employed (for the most part) when I was single again and now my husband and I are beyond self-employed. We are entrepeneurs. You gotta have balls and bust your ass. You make your own way and make your own opportunities.
I could NEVER do things any other way but it is definitely NOT for everyone.... or even for most.
We're in real estate. It's VERY hard stressful at times and you really have to know how to budget. There's not clock to punch so you have to eat, drink, and live it all the time.
DH is doing good though. He can't afford to go get a job at this point. Let's just put it that way All he can do is keep working his butt off and perservere. We don't listen to the naysayers about the economy either. People love talking doom and gloom and you just have to put your head down and be relentless in your work ethic and all will be well.
DH is doing good though. He can't afford to go get a job at this point. Let's just put it that way
All he can do is keep working his butt off and perservere. We don't listen to the naysayers about the economy either. People love talking doom and gloom and you just have to put your head down and be relentless in your work ethic and all will be well.needtogetaas
New member
I do it all baby.
heheh, people are dropping out of his industry left and right. We went out to eat and one of the agents he knows was our waiterRazorguns said:
He even wanted to quit. CEO, TXbondsman, and others remember me crying about that, ect. But ya know, after exploring our options, he decided to get his broker's lisc and just work hard...what a concept, lol.
calveless wonder
New member
Razorguns said:
you still have to be able to sustain it until things get better. maybe you can lay the groundwork but you still need resources to survive until then. it's hard to profit during a recession especially from a start up company
it depends on the industry but if good or services aren't being bought in the same fashion, then you probably gonna take an L for a bit
Razorguns
Well-known member
curvymommy said:heheh, people are dropping out of his industry left and right. We went out to eat and one of the agents he knows was our waiter
But ya know, after exploring our options, he decided to get his broker's lisc and just work hard...what a concept, lol.
In a recession - the amount of money stays the same - only "where it lands" - changes.
The money is still there. In fewer pockets - nothing more. Those who come out with something new and exciting - get the attention of those few.
And society still has to function. Money is still being exchanged.
r
txbondsman
New member
self-employed for 20 years....
Razorguns
Well-known member
calveless wonder said:
people still have to eat, drive, laugh, have a roof over their heads.
the money is still there. only thing that affects people, is any negative mindset, which is the enemy of the profit-seeking person.
My income rose past 2 years. Most americans been the opposite.
r
txbondsman
New member
the key to being sucessful is to provide your customers with the service that others may not. whether that's product knowledge, expert knowledege of your particular field or your willingness to go the extra mile for their benefit. Whatever the cost is for your service, it has to be a "value". You may not have to be the cheapest, but you have to have the best "value" dollar for dollar.
In one of my businesses I have to compete against the big retailers, Wal-Mart, Lowe's, etc. It's product knowledege that sets me apart. OR, if I don't happen to know what they need to know, I do ask other experts that do and give them the info...
In my bonding business, we all charge the same, so it's all service. Whether it's getting the lob done fast, taking the time to answer questions, knowing attorneys that are good at various crimes, or giving advise as to how to best handle their cases. It's all customer service....
In one of my businesses I have to compete against the big retailers, Wal-Mart, Lowe's, etc. It's product knowledege that sets me apart. OR, if I don't happen to know what they need to know, I do ask other experts that do and give them the info...
In my bonding business, we all charge the same, so it's all service. Whether it's getting the lob done fast, taking the time to answer questions, knowing attorneys that are good at various crimes, or giving advise as to how to best handle their cases. It's all customer service....
Razorguns
Well-known member
txbondsman said:
word
For most people - the easiest example of this, is at work.
Generally, the more 'value' you present to your employer (subtract egos) - the more compensation you get. A programmer for a video game company makes more than the secretary.
In business - the same concept applies. Except it's now 'customer' instead of 'boss. Nothing else changes.
r
txbondsman
New member
layinback said:
<<<< has acumen! and it's shiny at that!!
thanks brosephs LB and r
one thing that I left off, I always try and remember to say, "Thank You for your business" to everyone who trades with me. If it's a big bond/ account, I'll even stop them and be face to face, and say something like, " I realize that you have other companies that you could have used/ bought from, I want you to know that I appreciate you letting ME help you." Not as they're walking out the door in passing, but stopped face to face so they are looking at me. I feel like if I ever have them once, I will get them again. And THAT'S the name of the game....
jd_uk
New member
Plenty of self employed people here. So tell me, how correct or incorrect is this article?
http://www.stevepavlina.com/blog/2006/07/10-reasons-you-should-never-get-a-job/
http://www.stevepavlina.com/blog/2006/07/10-reasons-you-should-never-get-a-job/
GoldenDelicious
New member
im a self employed sub contracting dj and doorbitch, waiting on a development application to go through so taht i can then be a self employed developer, builder, and importer
i occasionally get stressed but really my life is parties, nightclubs, booze, and girls
when teh development goes through and i hit china, im going to live at the pink palace
life could be worse lol
i occasionally get stressed but really my life is parties, nightclubs, booze, and girls
when teh development goes through and i hit china, im going to live at the pink palace
life could be worse lol
layinback
New member
jd_uk said:
i can only share my experience and i used to put in 70 - 90 hrs a week
i generally worked 7 days a week and i had little to no down time.
i did this for 6 years. the next five years i worked around 50 hrs a week
with a day off here and there. now i work 10 hrs a week. i've paid my
dues and now i have a team of guys half my age running the business.
jd_uk said:
When I worked for someone else they constantly interrupted me so I could start something new because whatever was the most current thought in their head became the most important task. That made it it near impossible to start and finish anything without having to stop and change projects multiple times throughout the day. What took me 40 hours as an employee I can do easily in under 20 hours as my own boss and in return per hour I make and keep a lot more money.
The biggest difference is what you are responsible for and whether or not you choose to delegate any of the work need to run your company. I do all my own billing and bookkeeping so I could be near same amount of hours depending on how busy I am but more work means more return (if you do it right - you can still lose money) but as an employee I made the same amount of money if I had 20 hours worth of work or 60+ hours.
I've traded making a boss a lot money and begging to paid for what I was worth to making better choices as to who I choose to take on as a client.
The article sounds cheesy because he's trying to sell you something but he brings up a lot truth in what it is like working for "the man". What he says about being an employee it is like a walk down memory lane (it was for me at any rate). In my mind being self-employed is not being jobless so we're talking about two different things. He's talking about something different than wokring for yourself and yes very often you do work your ass off but your time is yours and your money is yours too.
Some people might be able to make money while sitting on their ass doing nothing but that doesn't work for the majority of people. I do think one needs work experience to be a good business owner and manager/leader but like everything else there are no absolutes or guarantees.
billfred
New member
I just quit the corporate world last November. I did consulting on an international project while I got funding to start own oil company.
Got funded in April - have 3 other partners. Start drilling next week. I have been working my own schedule for about the last 7 yrs so it does not really feel much different for me at this point.
Got funded in April - have 3 other partners. Start drilling next week. I have been working my own schedule for about the last 7 yrs so it does not really feel much different for me at this point.
