I'm tired of working for someone else. | Page 2 | TigerDroppings.com

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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

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


quote:

Most small and medium business owners are married to the job.


This is my biggest turnoff from being a business owner. My father was married to his company that he ran for 30+ years. In the end, the company closed and he continues to work weekly and on some weekends. He is my main motivation for not starting a business simply because I do not wish to work 50+ hours a week for 30+ years only for it to not equate to a comfortable retirement.

I find that the 40-45 hour work week and enjoying my free time provides plenty of wonderful comforts that I can live with. Personally I would like to operate a business and build an empire but handling stress is a weakness of mine. Combine that with what happened to my dad and I am glad to have my day job. I realize that certain talents/skills of mine are going to waste at my current position. That is one reason why I make every effort in my spare time to do projects that keep me motivated and diversified beyond my day-to-day job.






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poule deau
Member since Jan 2009
1031 posts

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


quote:

but handling stress is a weakness of mine.


congrats for recognizing this.

given this weakness, you would be one miserable SOB as a business owner.

Owning a business is not the only way to a good retirement.

Most people lack the discipline, but I have a family member who worked an hourly pay job for his entire career. Pretty sure he never made more than 70k a year in his life. Had a family.
Retired at 60 with over 2 mil in assets. No inheritance or anything like that. Just lived way below his means all of his adult life. Never deprived himself to the extent of being uncomfortable. Just made choices like driving very reasonable vehicles (Toyota Camry's and such), didn't spoil his kids with the latest and greatest material crap at every turn, built a modest house and paid it off as fast as he could (about 8 or 9 years). Never piled up debt and invested every nickel he could along the way.

Prototypical "millionaire next door".

I was floored when he showed me his investment account a few years ago. I always figured he was sitting on a wad, but not to that extent.

I have learned more about finances from this guy who barely finished high school than all my grad and undergrad business classes combined.






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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

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


quote:

I have learned more about finances from this guy who barely finished high school than all my grad and undergrad business classes combined.


Probably a hidden advantage to my engineering curriculum is the lack of finance classes. I've been reading this board's advice amongst others and I've done exactly as you mentioned. Live below my means, put as much aside into savings/retirement, and make do with the job I have.

I am certainly not looking down or suggesting people to not start a company. I simply have had the benefit of seeing the other side of the coin where the business owner put everything he had into his company and is still a slave to the corporate world. When most people think a business owner of 30+ years would be sitting on a beach right now. My father would not change a thing about his decision to start a company or the years he owned it. He loved every bit of his company. Life happens though






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FootballNostradamus
Clemson Fan
Member since Nov 2009
14414 posts

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


quote:

This is my biggest turnoff from being a business owner. My father was married to his company that he ran for 30+ years. In the end, the company closed and he continues to work weekly and on some weekends. He is my main motivation for not starting a business simply because I do not wish to work 50+ hours a week for 30+ years only for it to not equate to a comfortable retirement.


No offense intended to your father, but did he not save his money responsibly? I understand that companies close, and that sucks, but was he not saving for retirement all those years? Owning your own company doesn't secure your retirement, far from it, just like working "for the man" doesn't preclude you from retiring.

quote:

I find that the 40-45 hour work week and enjoying my free time provides plenty of wonderful comforts that I can live with.


Again, no offense intended, but if you think you can really work only 40 hours a week these days and get anywhere substantial you've got another thing coming IMO. You do realize this means you could be in the office every morning at 7 and leave at 3:30? That's just ridiculous.

The one thing I stress in my career moreso than hours worked is flexibility and the ability to manage my own time. I have no problem working 60+ hours a week when something requires it, but I also don't want to get nagged for taking a halfday on a Friday. That's more rewarding than saying I work 45 hours a week max. Every article I've read says this type of management will only increase as the current workforce continues to evolve.

You said you're an engineer. Most every engineering company I've worked for has been pretty flex about hours. It was about getting the job done not punching a clock so to speak. Are you salary?






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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

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


For my father, his ability to manage money was not a problem. The decline in his company over the last 3-5 years of its existence was what ultimately left him in the position that he is in.

I work a salary paying job at a consulting firm. I work 40-45 hour weeks while in a support role, and then my hours vary during an implementation. I don't average 50+ hours throughout the year nor do I feel like I am losing the respect of my peers by working a 40 hour week. And yes I log 50+ weeks when it is necessary. Simply put, I know my weaknesses and what I desire. I do not see myself fit to own a company and I do not see the need to dedicate all of my time and creativity to my current company. I have personal projects and study that I do outside of work to maintain a balance in my life and a drive for learning.






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windshieldman
New Orleans Saints Fan
Member since Nov 2012
1651 posts

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


I know pretty much everyone will roll their eyes at this but I've known many people who left middle management office jobs or whatever to go into the service industry and love it. Some services there is lots of competition like landscaping, concrete curbing may be something to look at. Pressure washing to me is something that if what I do now doesn't hold up I would jump into in a heartbeat. Talked to a guy the other day who is a fireman with me and he makes a couple thousand a month pressure washing on his own, does it part time. I was telling him to go try dealerships and charge a few bucks per car to add to it.

I've read about dog pooper picker up services and have heard stories in big enough cities where people make good money. First time to come to your house or apt complex, motels, parks, public buildings, etc they charge a good bit to pick up poop. Then they come however many times a month and charge alot less to come. Elderly people like it also so they don't have to fool with it.

I love the auto glass industry with the exception of govt getting involved in it alot and insurance companies. I'm a one man show and do fairly well but still work at fire dept have my bosses up there. I hope to retire early from fire dept and just do auto glass. I've been there almost 10 years and can retire at 12 years but only like 46% of my highest 3 years. Still have a goal to try and make it to 15 years, honestly, I'm tired of working there. Been doing windshields for several years and love it though.

Again, I understand this is probably not the kinda advice you or anyone else was looking for, ya know, pooper picker upper and all. I guess I'm just saying think outside the box. I've known at least one doctor and a regional manager for Home Depot who left to be a one man show in the service industry like landscaping, pressure washing, etc.

Disclaimer: If you do auto glass, not necessarily for replacements since it takes so long and people don't frick with you. On crack repairs expect to have the whole family standing over you shoulder watching every move you make repairing it. It sucks at first but you get used to it. Rednecks think your a superhero, its crazy. Oh, another thing that hasn't happened yet but one day will, that I'm dreading, is for it to crack out when repairing it while customers are standing by watching. I worry about that everytime



This post was edited on 10/11 at 11:27 pm


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kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
20441 posts

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


I think it's great if that's what you enjoy doing. Enjoy it!
On a side note, I think what you talk about, lots of different types of jobs out there, if you have a passion for something.

I'm a dog person myself, and see people advertise for watching after peoples pets while they are gone, make a couple of trips a day to the house, feed and play with the dogs, and charge like $30 a day. Talked to one lady who does this, and she takes care of as many as 8 a day. I could do that, it would be fun to me.






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theoldwiseone33
University of Louisiana
Member since May 2012
245 posts

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


Become a real estate agent, no overhead and great income





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lsubandmom
LSU Fan
Lafayette
Member since Oct 2007
828 posts

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


Just realized who you are. Know you very well and we work in the same office.





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Lsut81
USA Fan
Member since Jun 2005
65332 posts

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


quote:

Know you very well and we work in the same office



Boom?


Did he put his unit in the punch bowl at the company xmas party?






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Cracker
Montana Fan
in a box
Member since Nov 2009
5960 posts

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


Mow lawns in the evening you can make 60 bucks an hour fig 3 hrs a day 5 days a week 900. Extra a week. automating billing be professional you speak English thats +1 get business up running then hire labor at 12-15 an hour your still taking in 675 a week. If you keep the 3 hr a day but u get an employee or 2 working 10 hours a day grossing 3000k a week. the lawn care business is a 70 billion dollar business annually that gets you cash flowing, equipment is not bad just take care of it & it will last it's something to think about. Plus the deductions are great





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lsubandmom
LSU Fan
Lafayette
Member since Oct 2007
828 posts

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


No he's a really well behaved young man and is very professional and good at the business. Since this isn't the OT, don't think he'll mind my saying that.





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Venelar
LSU Fan
The AP
Member since Oct 2010
374 posts

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


My family owns a business here in BR and the best advice i can give is to have an extremely understanding wife :) . Ours is in the service industry and we are the ones doing the work. It's 4 of us and we do the selling, performing the work, and the billing. Just be ready to have it take over your free time unless you want to grow it big enough that you hire someone else to do the day to day stuff.

Pros are you set your own schedule and the job security. And if you can keep the overhead low you can really turn some money out.

Cons are..you become married to your cell phone. You can't afford not to answer it. Also, our company has monthly/quarterly appointments so vacations become hard unless it's around a holiday weekend because if you take days off you are having to double up for a few weeks to catch up.

The biggest con for us is health insurance. All of us have always been on our spouses insurance, so you may want to look at how that will work.

Just be ready for the extra time. It better be something you are really in love with. A few months ago I turned down an operator's job to get away from it. Distance was the biggest reason to turn it down, but the thought of having a job where i could just have a set schedule, punch in/punch out (and make more in the long run) is extremely appealing.

quote:

Mow lawns in the evening

I cut grass on the side for an extra 10k/year cash. Hard to beat.






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Tigerholic
LSU Fan
Member since Sep 2006
1496 posts

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


What's the age difference between you and your boss. Ever thought of buying him out? If the age difference makes sense he will want to retire and get $ out of his company and what better way than to sell to an employee who may already know how to run it.





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lsaltee
LSU Fan
poppin a tent, roastin marshmellows
Member since Sep 2007
2965 posts

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


quote:

What's the age difference between you and your boss.


The dad is mostly retired and I work directly for the son who is about 5 years older than i am. And he has 2 sons. Buying it from him is probably out of the question. He has been throwing around the idea of expanding or selling an office but i don't expect him to move on that any time soon and I am just wasting away here.






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SouthOfSouth
LSU Fan
South of I-10 till I die
Member since Jun 2008
34838 posts

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


I never wanted to own a business after having my father do so. He owned Noah's Pets and was constantly working. But recently I found something that I love and I am working on a 5 year plan to get it together and working. Im 26 so I need some time to build capital but I think the thing that turned me around was finding something I love.

In small business you are "married" to your work so make sure you love it. Don't open a business just because you want to be a business owner. Start a business because you love the work.






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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
957 posts

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


Worked for others for many years. Enjoyed it until I didn't. Had enough money put away to hold me a couple years. Bought a service business, built it up, sold it. Married that business. Worked 360/365 days the first year. Damn near killed me but nearly doubled the business in 2 years, sold it.

Glad I did it but only because I am an adrenaline junkie. I liked the thrill and challenge. Left very lucrative job and career that would have set me up just fine. But I did enjoy "firing" obnoxious customers in my own business.






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30530 posts

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


quote:

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


I hear you, but if you don't feel that kind of pride in a "regular" job you aren't doing that right either.






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