What About You? What About the Downturn?

[electricmanscott]

As far as returning my thoughts to the downturn, I may be crazy, but I'm leaving the large shop I've been working for to try my hand in a partnership with a good friend of mine. Two man shop. The large company was a good one, I didn't burn any bridges, but I'm excited about taking this step.

Things will be just fine.....

Seriously, good luck George. :smile:

 

[Rockyd]

Glad to hear Bob is back to work!

Good luck out there George!

 

[Mule]

As far as returning my thoughts to the downturn, I may be crazy, but I'm leaving the large shop I've been working for to try my hand in a partnership with a good friend of mine. Two man shop. The large company was a good one, I didn't burn any bridges, but I'm excited about taking this step.

Good luck to you, make it through the slow turn and you'll do fine....

there's "x'' amount of work, and "x" amount of talent to get it done. You either do it for the other guy as an employee, or for your self......I wished I'd made that change years ago....

 

[ohm]

Things are slow here so I rejoined the Civitan Club and have been wiring our ballpark concession stand, for free. I'm meeting tons of new people and helping the kids.

I pity people who only believe in themselves, in these times.

 

[Mule]

Things are slow here so I rejoined the Civitan Club and have been wiring our ballpark concession stand, for free. I'm meeting tons of new people and helping the kids.

I pity people who only believe in themselves, in these times.

Your a good man.......you could be having a pitty party, but your helping your community...

and for your second statement, believing in your self is good and bad. For some its faith, and for some its pride. For me, its having faith that my needs will be met, but it may not include my wants......

 

[steelersman]

His favorite question to new arrivals on site was, "are you a electician, or are you a dumbass?".

I would have corrected him and said: "I'm AN electrician" not "A electrician".

 

[ohm]

Your a good man.......you could be having a pitty party, but your helping your community...

and for your second statement, believing in your self is good and bad. For some its faith, and for some its pride. For me, its having faith that my needs will be met, but it may not include my wants......

Thanks Mule. We will never be handed more than we can handle. And true we will always have as much as we need...but seldom as much as we want.

A trip thru a VA hospital is always a good reality check.

 

[Pierre C Belarge]

George
Good for you to take the plunge.
I am sure you know that it will not be easy, especially in these times.
You got good advice from Rewire...I once had a partner, and the lack of a plan for disolving was a major problem that strained our relationship for years.

Good luck and I wish you and your partner good luck.

My advice.
PMA - Positive Mental Attitude

People can feel it.

 

[steelersman]

Been laid off since mid-November, and it's no fun. I have had a saw and a tape in my hands more than a meter since then.

It's getting very depressing. I chose the field for a reason as it is my passion. I am looking everyday

I hope things will change sometime soon.

Nemo, how can you expect anyone to hire you if you won't get a haircut and trim that beard? Just joking of course. http://forums.mikeholt.com/showthread.php?t=110858&highlight=haircut Seriously, good luck to all of you who are holding out. Hopefully this recession ends very soon.

 

[nakulak]

George
Good for you to take the plunge.
I am sure you know that it will not be easy, especially in these times.
You got good advice from Rewire...I once had a partner, and the lack of a plan for disolving was a major problem that strained our relationship for years.

Good luck and I wish you and your partner good luck.

My advice.
PMA - Positive Mental Attitude

People can feel it.

good advice, but don't stop there. have a plan in case one of you dies too. for instance, if your partner dies, do you want his wife or kids expecting that they are going to run half of the business ? one option is to give the surviving partner the option of paying the partner's survivors back over a given number of years for 1/2 the value of the business at the time of the death, value determined by an independant auditor, or an equally suitable arrangement. think of every possible thing that could go wrong, or right, and plan for it ahead of time so that its equitable and in writing. It won't help you get along with your partner, but it will give you a set of rules to live by and hopefully some piece of mind.

 

[Fulthrotl]

Things are slow here so I rejoined the Civitan Club and have been wiring our ballpark concession stand, for free. I'm meeting tons of new people and helping the kids.

helping out never hurts... especially when you keep large amounts of
cards on your dash board.... you *do* keep large amounts of cards to
hand out, right?

the economic downturn... i think it's more of a case where our collective
egos are just getting a deflation... a bit of a reality check... collectively,
as a nation, we've had the astute financial planning of a sailor on a three
day pass.... and we are all about to find out why cinderalla didn't stay
out after midnight.... :smile:

 

[nakulak]

peace of mind ? piece of a mind ? dang, I hate this time limit thing on the editing.

 

[emahler]

good advice, but don't stop there. have a plan in case one of you dies too. for instance, if your partner dies, do you want his wife or kids expecting that they are going to run half of the business ? one option is to give the surviving partner the option of paying the partner's survivors back over a given number of years for 1/2 the value of the business at the time of the death, value determined by an independant auditor, or an equally suitable arrangement. think of every possible thing that could go wrong, or right, and plan for it ahead of time so that its equitable and in writing. It won't help you get along with your partner, but it will give you a set of rules to live by and hopefully some piece of mind.

take a life insurance policy on each other, with the company being the beneficiary...it can be used to buy out the company from the heirs...

additionally, pierre touched on it...have an exit strategy...it's important...

and lastly, one of the biggest problems in a situation like George's is when you have 2 partners who have never been self-employed, and one or both, doesn't understand that just because they put in 100 hours this week, doesn't mean they are gonna get 60 hrs of OT in their check for the week...

 

[ohm]

helping out never hurts... especially when you keep large amounts of
cards on your dash board.... you *do* keep large amounts of cards to
hand out, right?

the economic downturn... i think it's more of a case where our collective
egos are just getting a deflation... a bit of a reality check... collectively,
as a nation, we've had the astute financial planning of a sailor on a three
day pass.... and we are all about to find out why cinderalla didn't stay
out after midnight.... :smile:

I not only have cards & flyers and my lettered truck is full of tools I gladly lend to other volunteers. It's more than priceless advertising, everybody walks away feeling good and all it cost me was a little idle time.

 

[hardworkingstiff]

Personally, I don't think the next 10-20 years will be anything like the last 10-20 years. For some heavy reading/video on this subject:

http://www.chrismartenson.com

Chris is a PhD that has a lot of interesting views on what's happening in the economy/world.