I’m thinking about going into business for myself, I have been doing sidework on the weekends for the past year or so. My phone keeps ringing for more work,ihave made contacts with 2 interior desingers and 2 realtors.
I was curios to see how many of you had some good contact before you made the move to selfemployement , and if you thought this would be a good start?
I’ve been reading the forums and appreciate all the info you all give , trying to be well informed before i jump in.
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Replies
I had contacts merely from seeing the people on a regular basis during my work for someone else.
When I went self employed it all had hit the fan on a Monday. I was now self employed whether I liked it or not ( I did ).
By Wednesday I had organised a trade account at an excellent rate and arranged all the subs I needed.
I then printed up some business cards and went to see some people. Got some work coming in, went to see more people and so it continues.
I am constantly keeping in touch with "my" people who refer work, but also keep meeting more.
If you do good work, you will get more. At worst you might have to devote a week to visiting folks.
Everything, 100% of it, depends on how you look at it.
DW
I was teaching school and didn't like the administrative BS. Started doing small work during the summer and thought I might give it a try. continued through the next year teaching and working. Agreed to teach one more year but by the end of the second summer wished I hadn't . Still stuck to my agreement but worked almost every evening and Saturdays and taught during the day. The nice thing was I was able to tool up, get a business plan together and build up a decent bank balance to start. DanT
It always seems like tons of business is pouring in and lots of people are encouraging you to start out on your own before you actually do it; I think alot of people fall into it because what seems like a lot of calls when you are only working for yourself on weekends. 2 different people wanting something done on a particular Saturday makes you feel like things are booming as you have double the amount of work you can finish in a day...when projected over a 5 day week these 2 calls are only 40% of what you need to stay busy. The biggest adjustment you will make with your own business is lack of personal time, providing estimates and meeting with people will intrude on your own schedule greatly for the first few years you are starting up making vacations and weekends without work considerations very tough; and if those calls aren't responded to promptly the schedule will slow down quickly. Good luck with whatever you decide.
-Ray
You said it regarding time.
I routinely spend hours working up prices. Up till 2a.m is common. Then work all day, home, do it some more. Tiring to say the least.
One thing I noticed quickly was how much time during the day gets eaten up with picking up materials and going to meet people in order to generate more work.
I wont work weekends though if I can at all help it. Have to draw the line somewhere.
Everything, 100% of it, depends on how you look at it.
DW
I am also at the jumping off point, I worry about Quitting my day job and then not having the work to stay busy. I have a contract for $105,000 for a remodel job, so I'm thinking, I have time to find more businees before I finish this job. But what if I don't? My wife is freakin at the idea that I would give up my "steady" (but boring) job - "what about health insurance! We'll loose our house! You'll be working all the time, I'll never see you! Of course, if I don't quit my other job, she WILL never see me because I have this large remodel to do now!
If you have a job in the bag for over 100k, then like it or not you have to give up your day job, even if its only for the duration.
I went it alone when I had work in the pipeline, arranged to have some time off to do it, then got told to ignore my people and finish his. I dont think so.......
By the time you have done you big job, you will have another to go to. By then you will be wondering why you waited so long to do it.
OK, the days are longer, you have to be responsible for every little thing. But, the money is better, YOU pick your work and if you want time off you have it.
I have just met a high profile landscape designer. I called to set up the meeting, showed him some photos, got a job to quote on right there. Was told there are more coming.
Also met via my best customer the countries top landscape architect. Got a job to quote from him in 2 weeks. More to come...........
All top end clients who will happily spend the money to get what they want.
At its simplest........do good work, people notice and talk. Make some calls, meet those in a position to send more your way. Keep doing good work.
Like the movie said, Build it and they will come.
Everything, 100% of it, depends on how you look at it.
DW
Well she is probably at least 60% correct. You probably won't lose you house. But your health insurance will cost a bundle and while she will see you, you will be working a lot. Whne work is done there are always quotes, paper work etc. Not trying to be negative but it is a consuming world. DanT
having a supportive spouse is probably the most important thing ...
in starting any new business ... construction or not ...
work on that first ....
or your days and nights are both gonna be long and miserable.
there will be times when there's absolutley no money and none to roll in soon ...
could be stressful enough to break up a marriage ... unless both think they signed up for this from the start.
I'n not even saying the work won't always be there ... even with steady work ...
it's either a cash downpour and drought.
the longer you go .. the better that gets ... but even the best biz has ebbs and flows ... expecially with remodeling ... too much stuff to go wrong ...
JeffBuck Construction, llc Pittsburgh,PA
Artistry in Carpentry
Some people arent cut out for working on their own. Its a simple truth that must be addressed. While it seems you might be willing to see if your own business pans out, it seems the wife isnt. Work on that or continue to be employed at a steady job.
But in this day and age, no job is steady.
Go talk to your banker and get a line of credit, against whatever assets you already own. Then you can pay your subs, suppliers and yourself on time, every time, even when cash flow gets a little goofy. That alone will relieve so much stress you won't believe it.
Our first line of credit was 10k, that was all we qualified for but it was more than enough to get us through those tight times. It was also a great way to establish the habit of borrowing and paying back with the bank. You might be amazed at how much wealth you can accumulate using "other people's money".
Set aside a certain block of time each week, maybe 1/2 day on Wednesday for example, for administrative tasks like bidding work, looking at potential jobs, establishing new contacts, appointments with bankers, lawyers...studying your craft or improving your business practices. That way you won't be distracted by all those thoughts while you're actually building, and that stuff HAS to be done every week. If you find that's not enough time for that part of the business, you can always adjust your schedule, maybe even eventually you'll be spending more time in the office while employees bend the nails...that's how many business "grow".
Oh yeah, and don't forget to set your rates to include paying yourself for those hours spent doing admin tasks. If you know you're getting paid for that time, you're much less likely to resent it and rush to get through it. It's every bit as important as the time you spend face to face with a customer or with a sawzall in your hands.
Paul,
Weigh the move carefully. One of the reasons i t was so easy for me to stay on active duty after being deployed was my wife. she never understood the business or what it took to make it. So, I ended up pretty much going it alone.
Her father was a worker bee who did the slow and steady company man thing. She couldn't deal with not knowing when the next check was coming.
Funny, now as an advisor to a reserve component unit it looks like I may be heading to Afgahnistan soon. Imagine how were dealing with that. Can you spell divorce? Next time I'll pick someone who isn't so afraid.
Well, one obvious point - I need to get my wife onboard. I have had experience running a small business (three years), but that was when I was single. I have a line of credit already in place. all my tools and equipment are paid for. I am lic. and insured. My wife is really the only thing holding me back at this point, but thats a BIG point! Divorce is out of the question, so I will have to convince her somehow.
I suggest slow but sure.
Don't try to get in over your head all at once ...
maybe a slow-growth plan will help nudge her along ...
if that don't work ... booze and chocolate's helps speed things up ...
JeffBuck Construction, llc Pittsburgh,PA
Artistry in Carpentry
Some advice...
I am lucky that my wife understands business in general (didn't at first... had to educate her about it).
Once you educate her about all of the risks.. and the upsides... and the "process" of the ups and downs... then, and only then will she feel comfortable. It is crucial that she "understands" (thinking-based) as opposed to "feels" (emotion-based).
Don't sell her on either side of the argument. Simply present the facts. In that process of presenting facts... you will have a better understanding also. Listen carefully to her concerns. When presented with those concerns... stick with the facts.
If, after doing this, she still is resistant... agree when to take it back up again. If, after doing this, the facts don't support the idea of going into business... then the answer is obvious. If, after presenting the facts, she is irrationally withholding her support... chocolate and shoes are the only answer!
what?
no booze??
JeffBuck Construction, llc Pittsburgh,PA
Artistry in Carpentry
Foot rub-- ya gotta do the foot rub,too.
I can talk my wife into almost anything if I give her a foot rub.
I always forget that one when giving advice about how to "win friends and influence wives"!!
Wife has a health issue that prohibits booze... so I am at a huge disadvantage! LOL
BTW... the foot rub thing is a GREAT tactic! Breakfast in bed is always a good idea, too.
Rich,
Way beyond Chocolate and shoes. I used them to smooth over motorcycle purchases.
The next step is a new Porsche Boxster. If I could afford one of those, I'm not sure I would care if I started a business or not.
Best advice I can give you is to develop a business plan... a written one... and then work that plan. It's kinda like a blueprint to your business and a road-map to reach the goals you set for yourself.
It sounds easy to start and run a business... and a few people are lucky and succeed without a plan. However, the majority of small businesses fail due to a lack of planning.
There are MANY software programs to start a business plan (I use Business Plan Pro, Marketing Plan Pro, and Cash Plan Pro... they all interact with each other). SCORE is a great place to get free advice on a business plan. There are some great business planners out there... but be careful, there are just as many scam artists.