WonkoTheSane (FS) said:
Fueled by Caffeine said:
PMRacing said:
I think I would have gone to a welding/fabrication trade school instead and have my own business working on racecars.
Alot of engineers I speak with have the same desire.. I'm toying with the idea of buying a shop of some sort. Boomers are retiring fast and selling their businesses.. 2% business loans right now.
example https://www.bizbuysell.com/Business-Opportunity/established-precision-machining-business/1792814?d=L21pY2hpZ2FuL21hbnVmYWN0dXJpbmctYnVzaW5lc3Nlcy1mb3Itc2FsZQ==
I'd just like to you to know that your link has now cost me at least 3 or 4 hours of sleep...
Observation on that link...
Current owner is VERY clear about what is needed to expand and grow that company. NONE of it is about technical expertise or engineering or machining capability. It's ALL business savvy. The skills needed to make that business succeed are business skills, not technical.
I have had my own business for most of my professional career.
I'm sure glad I did not have one through the COVID crisis. Nightmare.
In reply to SVreX (Forum Supporter) :
Yeah, that's the part that I'm pretty sure I could do. I've done enough machining to know the ins and outs, I understand the equipment, but I've also been on the sales side. I'm not in a position to change coasts for this in particular, but I've been daydreaming about buying a manufacturing buisness from someone like this. The kind of person who built it up, but wasn't smart enough to divest themselves from the day-to-day and really grow it. So they're sitting on some capital, some talent, and an already self-supporting customer base.
I've just never intentionally set out to find it, but that link has a few of localish ads that have me thinking...
Curtis73 (Forum Supporter) said:
1988RedT2 said:
In reply to Curtis73 (Forum Supporter) :
When you say "smash" you mean breaking a barricade and all that? Or just zooming through a checkpoint?
I mean 120 kph on the rev limiter, sideways, airborne, screaming like a girl, and turning the gate into toothpicks.
I gotta say, I'm impressed!
Unless, of course, you chose to waive the insurance on the rental car. 
11GTCS said:
In reply to Curtis73 (Forum Supporter) :
In for a copy of your memoir. I’m not brave enough to do half of that! Well done and there’s a lot more to go...
This. All this. Write a book Curtis. Now, while things are slow.
ProDarwin said:
Once you have been with a company that treats you well for a while you might want to stay. Also, if you have kids or other life crap going on, the stability is nice. I'm not trying to climb the ladder, I'm trying to enjoy life.
This explains my 25 year tenure at the same employer in a nutshell. As long as the good treatment continues, I will stick around. If it stops, adios.
ProDarwin said:
I am 14 years out, and on # 5-7 depending on how you count it. But I've been with this one for over 8 years and I am in no rush to leave.
Once you have been with a company that treats you well for a while you might want to stay. Also, if you have kids or other life crap going on, the stability is nice. I'm not trying to climb the ladder, I'm trying to enjoy life.
I don't think I can imagine any company being that loyal to an employee...
Honestly the only way I can see that happening is if I ended up as an engineer for the government.
I've thought about it more than once. I hear you do that when you hit your mid-40's and start thinking about the "what if's" of your younger years. Since I don't really have a "career path" and it's more like a meandering brook through the woods going wherever I'd have to say no.
There's a train of thought I follow in this type of discussion: If you change one thing, you change everything and I wouldn't change the experience and knowledge I've gathered, the people I've met and befriended and the things I've gotten to do for any amount of money. The real question is "could I have made better choices?" Of course. but we all have to learn from our own mistakes and experiences.
93EXCivic said:
ProDarwin said:
I am 14 years out, and on # 5-7 depending on how you count it. But I've been with this one for over 8 years and I am in no rush to leave.
Once you have been with a company that treats you well for a while you might want to stay. Also, if you have kids or other life crap going on, the stability is nice. I'm not trying to climb the ladder, I'm trying to enjoy life.
I don't think I can imagine any company being that loyal to an employee...
Honestly the only way I can see that happening is if I ended up as an engineer for the government.
Why do you want to leave a company? Because another one offers you something better?
I don't think the company is particularly 'loyal', but they have good pay and benefits, interesting work, and make an effort to retain good talent. There are LOTS of opportunities internally if I want a change of pace. Facilities all over the world, and a very wide range of products to work with.
In reply to ProDarwin :
I know for me I've either not had a choice (closing, bankruptcy, downsizing etc), or me being me they start to take advantage of my get it done attitude and then just dump more and more on me expecting me to keep outperforming but allowing other team members do absolutely nothing. Or my favorite actively working to keep me from getting promoted so the manager didn't have to train my replacement so he could take as much time off as he wanted to. I've never been lucky enough to have a company consistently treat its employees the way they should be. They usually start out great and then the bean counters start takingover and they want more for less. When I got a 0.87% pay raise after taking on two major programs and was told that I should feel lucky I knew my time was done there.
Bummer. I have worked at some E36 M3ty places too. Maybe your current job will be the place that starts treating you right.
For my personality, I find that my loyalty to a company is exactly the same as my feeling of fulfillment at that job.
compensation, access to resources, work environment, etc. If I'm happy at the job, it's likely because I'm doing work that I love, it's appreciated, and the business supports my needs by providing resources and respect for my needs at accomplishing that task.
For me, they're one and the same. I'm one of those for which the "people don't quit jobs, they quit bosses" saying is very true.
If I quit a job because I don't like the work OR I quit a job because the organization is confounding... I find those to be one and the same. In either case, I lost my loyalty because I didn't like what was going on.
NOHOME
MegaDork
12/11/20 11:02 a.m.
WonkoTheSane (FS) said:
In reply to SVreX (Forum Supporter) :
I've been daydreaming about buying a manufacturing buisness from someone like this. The kind of person who built it up, but wasn't smart enough to divest themselves from the day-to-day and really grow it. So they're sitting on some capital, some talent, and an already self-supporting customer base.
#1 Rule of business is to work ON your business, not IN your business. And if growth is the goal, then efficiencies and growth opportunities will be your mental focus.
That said, there is such a thing as a "lifestyle business", and I have a hard time faulting one that is working regardless if it has an exit strategy or not.
In reply to WonkoTheSane (FS) :
I've been daydreaming about the same thing for several years. And I have the resources to do it.
I haven't found the right opportunity, and right now I'm kinda glad (because COVID has made a great deal of suck in small business).
Yeah, there are some very interesting biz opportunities on there. Assuming its not a scam listing.
I just looked at one local to me that was asking price less than half of the current assets (inventory plus the FFE). 4 employee machine shop apparently grossing 675k annually.
My problem is I know very little of the people in that industry. And a lot of competitiveness comes from who you know. Of course its not the only way to compete, but it sure makes it easier.
In reply to Robbie (Forum Supporter) :
I know the difference between being a good baker, and running a profitable bakery.
ProDarwin said:
Bummer. I have worked at some E36 M3ty places too. Maybe your current job will be the place that starts treating you right.
Wife and I were talking about this just recently. I fully expect to work at least one more job before retirement in 11 years.
bobzilla said:
ProDarwin said:
Bummer. I have worked at some E36 M3ty places too. Maybe your current job will be the place that starts treating you right.
Wife and I were talking about this just recently. I fully expect to work at least one more job before retirement in 11 years.
I'm sorry you've had some bad experiences. I'll tell you as a leader. I take my own poor experiences and try to ensure that I correct them. One of my old mentors told me to write down on a piece of paper everything every boss did that was good. Then get another sheet for the bad. Keep a running tally. Keep reinforcing the good stuff and try to limit yourself from doing the bad. It's something I've tried to do as I go up the leadership chain.
Today I got turned down for a job in another division due to headcount issues Feels crappy I have all the right feedback and experiences etc but in the end just not enough bucks to go around
In reply to Fueled by Caffeine :
I agree. You have to treat your employees with respect and consistency. Have set expectations and follow those. Once you start down that road of negativity and cannot bring one positive thing to the table, you've failed as a leader. I was taught a Good-Bad-Good philosophy of employee relations. If you need to address some negative issues, make sure you try and bracket it that with things they are doing right or well to reinforce that you're not jut there to nit-pick. And whatever you do, you do not rule by your emotions. The last one I had ONLY ruled by emotions and she was a wreck on a good day.
EDIT: Keep in mind I'm blue collar, non-college educated so all my work has been from the bottom up. It might be different in the degree world.
In reply to bobzilla :
Yeah. I agree. People are important. I've led salaried and hourly folks in offices and machine shops. Respect, honesty, dignity they are important to people and leadership from the bottom to the top.
Fueled by Caffeine said:
In reply to WonkoTheSane (FS) :
These places are all over. Go for it. It's on my mind.
https://www.bizbuysell.com/Business-Opportunity/aerospace-and-medical-instrument-component-manufacturer/1772578?d=L2Nvbm5lY3RpY3V0L21hbnVmYWN0dXJpbmctYnVzaW5lc3Nlcy1mb3Itc2FsZQ==
I was looking at that one, but I don't think I could get the capital to get in on that. I think I'd have to set my sights a bit lower at first.
In reply to SVreX (Forum Supporter) :
My biggest problem is I'm kinda golden handcuffed.. I've been at a great company with a very competitive salary making a product I love with people I like for about 8 years. And I've got a lot of young kids at this point in my life.
