I'm tired of working for someone else. | TigerDroppings.com

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lsaltee
LSU Fan
poppin a tent, roastin marshmellows
Member since Sep 2007
2966 posts

I'm tired of working for someone else.



I'm tired of helping someone else make lots of money. Don't get me wrong, I am VERY appreciative of my job as it pays the bills. My boss is pretty good and my perks are nice. But every year when my boss leaves on his large boat to spend 3 months in the Bahamas, I die a little.

I don't want to be rich to buy things. I want to change my family tree. I want to break the cycle of working for someone else. My dad is in his 60's and is a great man but has no outlook on retirement anytime soon. I don't want to be him. I don't want to be in my 60's as a tire salesman still working for someone else.

Where do I start? What do I look for? I've been scouring craigslists' business section and have come across a few businesses for sale but I have no capitol, no experience in valuing a business and I'm too chicken to make the jump.

Business owners how did you do it? what motivated you? Was it a hobby? A skill? Where did you get your money to start? How many times did you fail?

I'm married with a child. Mortgage and a car note that need to be paid.

I buy and sell things for some spare cash every now and then and I have flipped a few houses for small profits but it seems like the people with the most security in their future are my boss and the owners of our subcontractors. (i work for a small home builder). I can't go out and start a construction company because I have a non-compete signed with my current company. I know there are ways around it but I find that very unethical as my boss has been great to me. Or do I lack that killer instinct that business owners need to succeed?







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jmtigers
Southern Miss Fan
1826.71 miles from USC
Member since Sep 2003
3643 posts

re: I'm tired of working for someone else.


What about becoming one of these subs you are talking about. Maybe one of the subs could be doing a better job for your boss. I have personally seen construction co's start that way.


This post was edited on 10/10 at 2:45 pm


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lsaltee
LSU Fan
poppin a tent, roastin marshmellows
Member since Sep 2007
2966 posts

re: I'm tired of working for someone else.


I have thought about that in the past. Maybe time to revisit it. 2 of my superintendents left to start their own companies but both came from framing labor backgrounds and do most of the work themselves. I am middle management with a degree and little hands on experience as far as labor goes.
My other issue is that I would need to get more than just my bosses business to succeed. something i would have to look into.






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lsu711
LSU Fan
Member since Sep 2003
5734 posts

re: I'm tired of working for someone else.


A manager works for his employees. A salesman works for his customers. A CEO works for his board.





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I Love Bama
Ohio State Fan
Alabama
Member since Nov 2007
33341 posts

re: I'm tired of working for someone else.


quote:

I'm too chicken to make the jump.


This prettt much sums it up. Your boss probably has balls.

You don't get ahead in life playing safe






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lsaltee
LSU Fan
poppin a tent, roastin marshmellows
Member since Sep 2007
2966 posts

re: I'm tired of working for someone else.


quote:

I Love Bama


how did you make the jump to being your own boss?






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
72657 posts
 Online 

re: I'm tired of working for someone else.


quote:

A manager works for his employees. A salesman works for his customers. A CEO works for his board.


A small business owner works for everyone






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Hu_Flung_Pu
USA Fan
Central, LA
Member since Jan 2013
5926 posts

re: I'm tired of working for someone else.


Interested...





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econ85
Longwood Fan
Member since Nov 2012
572 posts

re: I'm tired of working for someone else.


quote:

A small business owner works for everyone


This is definitely true. But there's something about the freedom and pride in something you've built that would make all the difference.

I feel very much like the OP.






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MFCEO
LSU Fan
Baton Rouge, LA
Member since Jul 2013
21 posts

re: I'm tired of working for someone else.


I am in the beginning stages right now of getting started with a business. I was able to find something in my day job, more or less, a better process to do something that I believe would benefit the masses. I am trying to take that and basically make a business out of it. There is no guarantee that any of this will work but the thought of not trying it and wondering the rest of my life what would have been killed me so I am just making the jump.









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Cdawg
Mississippi St. Fan
TigerFred's Living Room
Member since Sep 2003
40702 posts

re: I'm tired of working for someone else.


quote:

how did you make the jump to being your own boss?

By saving up enough that I could live at least 2 years without ever being paid. Then I jumped.






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I Love Bama
Ohio State Fan
Alabama
Member since Nov 2007
33341 posts

re: I'm tired of working for someone else.


quote:

how did you make the jump to being your own boss?


I'm currently not my own boss. Mt R.E. business grows every year and I fully expect it to be full time in 10 years.






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RolyPoly
LSU Fan
Baton Rouge
Member since Jul 2011
78 posts

re: I'm tired of working for someone else.


First step is to change your attitude and be optimistic. Develop a killer instinct and go out and kick some ass.





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kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
20525 posts
 Online 

re: I'm tired of working for someone else.


quote:

I want to change my family tree.


Very noble.

I have no good advice for you other than to save money so you have some buffer it you do make the leap. Most small business fail, or struggle, so be sure you are doing something you can at least make a decent living doing.
It's really too late for me, but I have paid off my house and cars and am saving money so that I can retire early, and then hopefully find something I want to do to make a little money and then it might be fun. I've been in the workforce for 31 years now and I need about 6 more to get where my goal is.
Good luck to you!






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30533 posts

re: I'm tired of working for someone else.


You're always working for someone. If you're the owner you're working twice as hard, minimum.





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Slickback
New Orleans Pelicans Fan
Deer Stand
Member since Mar 2008
26289 posts

re: I'm tired of working for someone else.


Tomorrow is my last day at my current job. Start a new one Monday which puts me in a position to go out on my own in two years.

I'm very similar to you. My Dad has a really good job and just hit 35 years with his company. He's 56 and still gets up 5 days a week and drives into BR traffic and is there til 5 on Friday. I want the freedom moreso than the wealth (although that's a nice perk).






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lsaltee
LSU Fan
poppin a tent, roastin marshmellows
Member since Sep 2007
2966 posts

re: I'm tired of working for someone else.


Hard work is not what I have a problem with. I get that most small business owners sacrifice large amounts of time but the reward is much sweeter if you can make it work.





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dreaux
LSU Fan
baton rouge
Member since Oct 2006
38372 posts

re: I'm tired of working for someone else.


If you are licensed do your own work on the side. You can charge less and make a lot more. Just stay way of his clientele.





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skidry
LSU Fan
Member since Jul 2009
974 posts

re: I'm tired of working for someone else.


I have several family members who have businesses. They range from single person consultant to 500 employee contractor. One of them told me to just go do something you like. If you work hard and never tell people no, it will evolve into a niche where you are meeting unmet needs even if totally different from where you started.


This post was edited on 10/10 at 10:00 pm


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poule deau
Member since Jan 2009
1031 posts

re: I'm tired of working for someone else.


Believe me when I say that owning your own business is not the utopia some make it out to be. Especially if it is labor intensive.

A large portion of the general workforce sucks and decent, dependable employees are few and far between.

When you are an employee, you answer to the boss.

when you are the owner, you answer to the bank and/or business partners, you answer to the customer, and you answer to the employee. Your business depends heavily on these groups and they know it. And all can be very demanding.

Employees have a lot of options that business owners don't. Most small and medium business owners are married to the job. You can never get away from it.

Sounds like you already have a decent gig working. Does your boss have a succession plan for the business? Maybe he would be interested in cutting you in. You might be surprised at what he has to say.







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