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Thread: Self employment

  1. #1
    Join Date
    Aug 2008
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    406

    Self employment

    I have been self employed for roughly 12 years, profitable years but my business consumes a lot of me. I have two employees and one is retiring. I spend the majority of my time running my business but am still in the field. I Found out about a full time day maintenance job that is appealing to me. I have been working on ways to run my business with less stress and more success the last couple of months but have a ways to go. My options are to apply for the job (I do not want to make up my mind after I may get the job) or give myself more time to develop and teach myself new ways. Looking for advice from people who have been in the same situation and what they have done.
    Thank You!

  2. #2
    Join Date
    Sep 2016
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    Atlanta, GA
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    Looking forward to reading the responses on this thread. Great question.

    I've been in a similar situation for about ten years now. I've built the business up to a point where I'm making a comfortable living, and am able to support a small, talented crew. but find myself having similar issues as the OP. I've pulled the trigger on a few applications, and even had offers on some of them. Everytime i back out because i've put so much into the business and don't want to let the guys, or our very loyal customers down. I'm also hesitant to not be my own boss.

    Bottom line... i've chosen to stay self employed because i believe the benefits of having something of my own out weigh the benefits of the steady, way less stress salary position. Obviously that's a personal choice, not a fact.

    Would like to hear from someone who went ahead with the salary job.

    Sent from my SM-G950U using Tapatalk

  3. #3
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    I'm not going to help much other than I've been there and am now faced with retirement. The same problems with letting employees and customers 'go' is there. I'd feel better if one of the employees would step up but that isn't happening.

    Hiring office help that can do the billing and day to day paperwork helps considerably at your stage. In the end though, its another person to let go.
    Tom
    TBLO

  4. #4
    Join Date
    Jul 2007
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    Clark County, NV
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    After leaving the union and working for the man, I've been on my own for near 15 years. Some months, you're making balloon payments on the pickup (after getting 350,000 miles on the old one), and some months are lean and mean, but there's just no way I could go back. That said, I have no employees, just a bookkeeper and accountant that I pay to do the hard part. I hate paperwork.

  5. #5
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    I see it all the time. Your problem is because you didn't plan for your successor and started grooming him or her years ago to take your place. Many small business owners like yours don't want their children involved, "want them to have a better life" so they pass up the opportunity to pass the business on. Another problem is that they need to be in control, micro-manage everything so they won't hand over the reigns to people they can delegate responsibility to.

    I spend the majority of my time running my business but am still in the field.
    So really, you don't have a company, you have a job.

    If you look at a lot of successful companies, the owner is out playing golf while his son or daughter runs the company.

    -Hal

  6. #6
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    Jun 2016
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    Tampa, FL, USA
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    There is no way I could return to working for the man.

    Quote Originally Posted by WarrMann View Post
    the steady, way less stress salary position

    I find I am way less stressed being the owner. I don't worry about if this is layoff day and how long it will be before I can get another job.

  7. #7
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    May 2009
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    I love it. Best professional decision I ever made!

  8. #8
    Join Date
    Aug 2008
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    406
    Quote Originally Posted by chris1971 View Post
    I love it. Best professional decision I ever made!
    What way was the best decesion for you?
    Last edited by Little Bill; 11-01-18 at 11:28 PM.

  9. #9
    Join Date
    Aug 2008
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    406
    Quote Originally Posted by hbiss View Post
    I see it all the time. Your problem is because you didn't plan for your successor and started grooming him or her years ago to take your place. Many small business owners like yours don't want their children involved, "want them to have a better life" so they pass up the opportunity to pass the business on. Another problem is that they need to be in control, micro-manage everything so they won't hand over the reigns to people they can delegate responsibility to.



    So really, you don't have a company, you have a job.

    If you look at a lot of successful companies, the owner is out playing golf while his son or daughter runs the company.

    -Hal
    So learning to run by business correctly would be a good idea.

  10. #10
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    Quote Originally Posted by arnettda View Post
    Quote Originally Posted by chris1971 View Post
    I love it. Best professional decision I ever made!
    What way was the best decesion for you?
    professional freedom! Best decision!
    Last edited by Little Bill; 11-01-18 at 11:29 PM.

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