when do you quit

[Fulthrotl]

IMO this thread is NOT healthy discussion,
So not trying to be rude here, but be healthy in your thoughts......

healthy thoughts are an honest inventory of the stock in trade.

A business which takes no regular inventory usually goes broke. Taking
commercial inventory is a fact-finding and a fact-facing process. It is an
effort to discover the truth about the stock-in-trade. One object is to
disclose damaged or unsalable goods, to get rid of them promptly and without
regret. If the owner of the business is to be successful, he cannot fool himself
about values.

many of us, myself included, have done more that be a sparky in the course
of our existence here. there have been a number of times in my life when i've
made money faster than i can spend it, and that is saying something. :smile:
(thank god i was able to quickly catch up)

the times i have made the highest incomes in my life were immediately
following the collapse of my plans to make money. my experience has been
that my financial plan has always gotten in the way of making much money.
thank god for my failures, for without them, my income would have been
drastically reduced.

the most positive thoughts i can share with you are that you have as
profitable a series of failures as i have had.

how did i do? it wasn't napoleon hill, but what do ya think? positive enough?

 

[aline]

spoken like a true gambler....oh wait, we're talking about electrical contracting, not vegas...my bad...

What's the difference?

The odds of winning are probably better in Vegas.

Keep playing long enough and your bound to win something aren't you?

If not oh well. At least you enjoyed loosing the money.

 

[brian john]

Hopefully I'll never have to answer that question. At present I am situated fairly well and feel if I have to cash it the proverbial doo doo has hit the fan.

 

[Mule]

healthy thoughts are an honest inventory of the stock in trade.

A business which takes no regular inventory usually goes broke. Taking
commercial inventory is a fact-finding and a fact-facing process. It is an
effort to discover the truth about the stock-in-trade. One object is to
disclose damaged or unsalable goods, to get rid of them promptly and without
regret. If the owner of the business is to be successful, he cannot fool himself
about values.

many of us, myself included, have done more that be a sparky in the course
of our existence here. there have been a number of times in my life when i've
made money faster than i can spend it, and that is saying something. :smile:
(thank god i was able to quickly catch up)

the times i have made the highest incomes in my life were immediately
following the collapse of my plans to make money. my experience has been
that my financial plan has always gotten in the way of making much money.
thank god for my failures, for without them, my income would have been
drastically reduced.

the most positive thoughts i can share with you are that you have as
profitable a series of failures as i have had.

how did i do? it wasn't napoleon hill, but what do ya think? positive enough?

In truth Im a realist, and yes you should look at things squarely straight on. having plans for various business climates and the like. But in the case of the current economy, I think the population is in a state, of what I would call "reactive fear". This is where one person is scared and reacts to the failure of another person, thus causing a chain reaction. So all of the pigs follow one another and run right over the cliff and fall to their death. So folks just need to calm down, and take a breath.

 

[satcom]

What's the difference?

The odds of winning are probably better in Vegas.

Keep playing long enough and your bound to win something aren't you?

If not oh well. At least you enjoyed loosing the money.

The odds of winning in the electrical business are excellant, if you have a large number of long term contracts, with good accounts, and back that with offering more then one product or service, and do little or no low end contracting. I my area alone we might have 3 or 4 contractors that run their business well and even in these difficult times are only feeling a need for a slight adjustment, not in a panic mode, these contractors, build assets in the business over the years, so now when things slow they have real income to offset the down turn, they also have planned investments, which they built over the years, so when they decide to sell, they will have something to show for all the years, but these are not the type of guys that give their work away, they usually have a lot of self worth, and are not afraid to work hard and get paid for that work, in simple terms they don't gamble, they plan and invest.

 

[satcom]

IMO this thread is NOT healthy discussion, get out and survive, dont mope around. It wont solve anything. Paint a house, haul peoples trash, detail cars, clean out peoples garages, barter electrical work, mow lawns, build decks, storage buildings, just get up and do it.....

I just talked to a AP mechanic that got laid off from OKC, went to work at Cessna nearly 200 miles north, worked there 5 months while living in a camper, just got laid off, and is going back to work at Tinker Air Force base. This guy is making it happen, he's a surviver.

If you have a skill, use it for something else, or something.

Remember a half glass of water, can be either half full, or half empty, its your choice......its a opertunity.

So not trying to be rude here, but be healthy in your thoughts......

Back in the 70's recession, that is what I did, anything, I even cleaned rest rooms, and my family had food on the table, however, there were guys that said I am am electrician, and I am not doing that, even today these guys went nowhere, and they never will, they plan to lose.

 

[Mule]

Back in the 70's recession, that is what I did, anything, I even cleaned rest rooms, and my family had food on the table, however, there were guys that said I am am electrician, and I am not doing that, even today these guys went nowhere, and they never will, they plan to lose.

Yes, and cleaning restrooms would not yeild $65-$125/hr either.......

"where theres a will, theres a way"

 

[satcom]

Yes, and cleaning restrooms would not yeild $65-$125/hr either.......

"where theres a will, theres a way"

small electrical contracting does not yeald 65 to 125 after you deduct your cost overhead and operating expenses, your very lucky if you walk away with a $18 to 20 per hr a am not talking about the guys that don't have all the insurances bonds and standard contracting business expenses, and don't pay taxes, they actuslly think they are making money.

 

[Mule]

small electrical contracting does not yeald 65 to 125 after you deduct your cost overhead and operating expenses, your very lucky if you walk away with a $18 to 20 per hr a am not talking about the guys that don't have all the insurances bonds and standard contracting business expenses, and don't pay taxes, they actuslly think they are making money.

Exuse me, Is this the same person I was replying to earlier????

 

[Dnkldorf]

Remember a half glass of water, can be either half full, or half empty, its your choice......

Or you can have the wrong size glass.

 

[growler]

Remember a half glass of water, can be either half full, or half empty, its your choice......its a opertunity.

So not trying to be rude here, but be healthy in your thoughts......

Who cares about a glass of water anyway, it's St. Patrick's Day so pour that water out and fill that glass with something worth drinking. :grin::grin:

" Sure whiskey kills brain cells, But only the weak ones".

 

[76nemo]

Who cares about a glass of water anyway, it's St. Patrick's Day so pour that water out and fill that glass with something worth drinking. :grin::grin:

" Sure whiskey kills brain cells, But only the weak ones".

Well, after viewing another depressing discussion on this topic, you ended it up with a smile :smile: Just hope we all can afford to keep our glasses half-full

Best of wishes everyone :smile:

 

[LarryFine]

Just hope we all can afford to keep our glasses half-full

A noteworthy goal for toper and barkeep alike. :smile: