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I’ve had a big revelation this morning. I was studying a training manual that I recently purchased. One of the chapters explains the psychology of know “Why” you want to enter a career or business.
That made me think of my present situation concerning my Carpentry Business, and I started to reflect on my “Whys” that I had as a young entrepreneur.
See the first post….
blue
Replies
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My "Whys" for starting my first business were basic and simple.
1)I wanted to be self employed and place the blame for my success or failure on me.
2)I wanted to control my own jobsite, especially regarding saftey issues-I never wanted to be forced into raising an unsafe wall, or working with dangerous ladders etc.
3) I wanted to provide a relatively comfortable standard of living for my family.
That was it.
Guess what?!!!
I achieved my goals! I got what I asked for. The entire process of building my business did not include any higher aspirations than what I got. I always figured that I'd figure out my retirment after I quit working at some advanced age like 65 or 70 (My grandpa worked as a carpenter well beyond 65).
Be wary of what your goals are. Make sure you are internally programmed to achieve more!
Now, my "Whys" are much bigger.
I'm planning on retiring on an ocean front home in a warm climate. I'm planning on having financial freedom to do the things I want to, when I want to do them, without wondering how I will pay for them. My biggest "Why" is to provide the same comfortable income and lifestyle for my wife, who has stuck with me since Junior High School.
I'm a working maniac once I have a goal and a reason. I'll be beating myself up in my coffin if I don't get that wonderful woman that retirement that she deserves....
My "Whys" are now solidly in place.....don't neglect yours.
blue
*Blue,Admirable goals, and admirable reasons for them.Just don't neglect and forget the most important part of the equation - your wife and family.I too had high goals and expected achievements lined up for my future. I worked 12 to 14 hours a day trying to achieve them. All for the sake of a comfortable retirement, and giving my wife the finer things in life. She deserved them, and I was gonna provide them. I was gonna be a good provider, and make her as comfortable as possible. I found out along the way that I was coming home after a VERY long day, (and even longer week) to a stranger. I didn't have time for my wife because I spent my time earning my future and my comfortable way of living. I did not like that realization. She liked it even less. One day I stopped dead in my tracks, and did a very deep evaluation of my life, and my future. I thought long and hard about what was most important to me, and realized that my wife and family were THE most important part of my life. I wanted to enjoy them, and spend time with them. I came to a realization that TIME and FAMILY were more important than upscale comfort. I talked it over with my wife, and she agreed. From that point on, everything I do to earn a living is geared towards having plenty of quality time for my family. My wife never wants for anything, but we realize that luxury is out of our reach. We like it that way too. Makes us really appreciate what we have, and makes what we acquire in the future mean that much more. When we talk of COMFORTABLE retirement, what exactly is COMFORTABLE? Will a comfortable amount today be a comfortable amount tomorrow? When is enough actually enough?I have planned for taking care of my family, and making sure they never do without. As for how upscale the family is, and will be in the future, well that is not a high priority for me or my wife. I just make sure she has lots of life insurance on me if something were to happen. Just a thought...James DuHamel
*Blue, my list was exactly the same ---with one additional item.4) I wanted to have absurdly huge amounts of free time.I believe your average person working 2000 hours a year is a moron sice I have consistantly proved I can do quite well on about half that.(700 production 300 or so on bookkeeping and estimating)Achieved all 4 goals,in fact my free time is so extensive I have learned to keep quiet about it around my friends that have "regular" jobs----they simply don't believe it.but now I have added a few new goals. My wife teaches school now,and my kids are entering high school.there is nobody at home in the day time anymore to spend my free time with---so I am taking on new financial challenges to kill time.BTW the gal who is my wife has been my center continuously since I was 15.(39 now)
*Stephen, I'm in your camp about avoiding those 2000 hour years. I have to force myself to get above 1000 and it's getting harder and harder each year!James warns about neglecting family at the expense of success. I wholeheartily agree. I'm sure I would be a lot farther ahead financially, if I didn't hang around home so much. One of the reasons that I've re-hooked with an old partner was so that we could share the supervision duties in a sub that demands us being there. The money warrants the concession....blue
*Stephen and Blue, Now don't take this the wrong way but how the heck do you guys make it working half of what everyone else does? Or is your financial status reflective of the amount of time worked and you're OK with that? Not being confrontational just curious as I'd like to play that game too!Mike
Mike,
about 20 years ago I read a book which really formed my way of looking at the world.---Iremember the book was written by a Canadian,but I can't remember the title or author.
the authors' main idea was that in the modern world you need money----not a job,but money. A job is just how most people choose to obtain money---and both jobs and money are merely a means to an end.
I also knew that it has only been a little over 100 years that most people have fallen into the standard employment trap---think of the industrial revolution and how people structured their working lives before that.
Once you realize that what you need is money,you begin to see that there is no particular virtue in working long hours--if you can accumulate the needed money more efficiently,and honestly
So........I study my families' own particular financial history.Just as I have a very accurate idea of what my business' overhead expenses will be for the year,I also have an excellent idea of what my families financial commitments will be also.Knowing historically,how many hours I am gonna work each year----in combination with the above 2 figures easily tells me the minimum amount I must earn for every hour worked.My focus then becomes---not working long hours---but working at the pre-determined rate OR BETTER.
How do I achieve that?
I don't hesitate to leverage the labor and equipment of others, to my families profit.
I don't waste time on site.I have taken some heat about this on Breaktime, before.I don't run like a chicken with his head cut off,but I don't stand still on the job.From the moment my truck stops in my customers driveway,untill the moment I am packed back up and ready to leave ,I am moving.I don't eat on the job,go to the bathroom on the job,smoke or take any other breaks.I work from start to stop and I don't waste time with any socializing.I am quite sure that I REGULARLY get more done in 6 hours on the job( I generally leave by 2:00) than most of my peers get done in 8 because they waste a lot of time talking and taking breaks.If we finish for the day in 6 hours,my helper is generally paid for 7-8 hours and he is perfectly free to take lunch breaks and bathroom breaks.
A perfect example was yesterday. On monday and tuesday my helper and I did a simple roof tear-off and re-roof.We had 14 hours in roofing and 3 in spouting and soffit repair---17 hours total.( we were pushing to beat the bad weather scheduled for weds. thurs.,fri) My helper will be paid for 18 1/2 hours. ----5 houses away another roofing company spent about 7 hours to complete a slightly larger and more cut up roof. Thats 7 hours x 6 workers=42 hours( plus the 7 man,the non productive owner). Compared to my helper and my total of 34 man hours for a roughly equivalent sized project.My competitor may have got his roof done in 1 day---but my helper and I were much more productive and profitable.
BTW my schedule allowed for 20 hours for this job for my "crew" we beat the schedule nicely by 3 hours,and those 3 hours rate will easily handle 1 months tuition at my sons' school.
sorry for rambling on here,I think I could easily write a book on this topic.Also,I know several people who work the same way in other fields( 2 are technical writers)
PS,my wife and I own our home in an average neighborhood for our town. Our neighborhood is populated by policemen,firemen,school teachers,nurses,accountants,insurance agents,machinists etc.
hope some of this helps,I would be happy to answer anything else for you.
Michael. Stephen used a lot of words to describe what I do....charge more, work less.
I used to pound out the hours and was hellbent on working myself to death. I was such a workaholic, that I hated a day off.
Then, I started to relax a little. I learned to enjoy the time off.
Now...I'm basically lazy. I like time off more than I like to work. Of course, I'm finding other things to do...like a two hour "business lunch" with an old lumber sales friend....
Try it...
blue
Blue, you're not lazy. Maybe you recently found what life is really all about - you, people, and nature - our real home.
Last week I was walking down one of our main streets when I happened to see two large ant's nests in the dirt near the side walk. I must have looked like a jerk to people driving by, sitting on my haunches for about 10 minutes, facinated, just watching what they were doing.
I just finished watching Forest Gump on TV - again.
"Stupid is as stupid does."
Maybe you and I were just stupid for too long.
That's true Sonny. I used to think that excessive hard work was the answer. I now know that smarter work is the real meal ticket.
I've also stopped to smell the roses...this is the time of year I get to study the mating habits of ducks and geese. The Mergansers have arrived (yesterday)!
blue
Hi!!!
Blue,
Nice to see your steal on top of things as always, and I really do miss some of the discussions we used to have.Anyway just wanted to say hello.
Sonny,
I wondered where you went, because you haven't posted on the other forum for a while. Anyway looks like your keeping good company here with Blue.
Larry Martin
Hi Larry, where ya been? I figured you dropped off the corner of the earth.
I'm keeping good company and working on my "other business". I've just re-started up in boogering, err, I mean, rough framing. I started a good one (that's a code word for profitable), so I'm rather entused again....
blue
Blue,
Are you looking for any good help? At one time, I used to be pretty good with a hammer. Maybe you could use a good leadman or something, anyway I'll send you a copy of my resume.
That's a good question about where I've been. The last several months I've been trying to attend a recovery group, similar to AA. Going through a ten step program and they finally let me back in, at least for a while.
Larry
Edited 3/23/2002 7:47:00 AM ET by Larry
Edited 3/23/2002 1:24:32 PM ET by Larry
Blue,
Just kidding about looking for a job and the 10 step recovery program. I have not worked for someone else by the hour sense 1979 and not planning to in the future. With all the ups and downs during that time if there is one thing I was blessed with, was a supporting wife and family "two sons". One son that getting ready to graduate from college with a three point eight average in two majors and the other is entering. To me this is what it is all about, this is my support group when things are down. What ever it take at all cost to help make this happen for them.. In my opinion money is very important, because it is a necessary tool to help make these things happen. But not as important as family and true friends. A few years back I was working seven 10 hour days. My family new the price I was paying, because I ended up having a serious heart attacks at 49. When this happen,you'll know and see who your true friends are. The story about the ant's that JJWALTERS an Sonny pointed out is also very important, because the older I become the more I relies what is really important.
Steel haven't made my fortune yet, but I like being independent.
PS. Sorry about my spelling.
Larry
Larry, congrats to you, your family and especially your hard working son.
Don't let live give you a heart attack.
Sorry you don't want a job. We could put you up in the peaks to handle the rafters. We'd stay down and build a good set of stairs!
don't worry about your spelling. It's looking a lot better!
blue
Blue,
Thanks!!!
Larry
My last posting was to Blue and All, not to myself.
Larry
Last week I was walking down one of our main streets when I happened to see two large ant's nests in the dirt near the side walk
Sonny,
You and I are about the same age. Once I would have have crushed the ant hill, now I too am excited about observing such things.
Bravo, James!
It's not hard to tell that most of the people here are of high caliber, but that post takes the cake. Congratulations to you and your wife for identifying your priorities and making them work. To quote a man I deeply admire, "No amount of success can compensate for failure in the home."
With admiration,
Sam
Edited 3/20/2002 3:25:57 PM ET by SAMSOTER