I've seen a couple recent posts about job satisfaction and paychecks in the face of inflation. A lot of us work for the man. Though tempting, I am too conservative (chicken) to start a business. "A bird in hand", if you will..
Some of you dorks have clearly found success in rolling your own (businesses). I've connected the dots through stories and comments over the years but I would love to know more.
So what does your business do? How do you like it? Would you do it again?
My business is about to transition from a hobby to possibly making money doing it. Atkins' Sauce
I have made about 8 different hot sauces so far about 25 bottles at a go. 95% I consume or give away, but sometimes I'd get tossed a $10 or get a couple dozen fresh eggs in trade, or my favorite is a guy trades pickled eggs for a bottle.
Next batch is going to be about 50 bottles and depending on the cost to make, bottle, label will determine the price I will start selling them at. I am betting on $10/per though, more if I have to ship it (shipping is surprisingly expensive).
Depending on how that goes I have been looking at used food trucks, as hinted to in the sauce thread.
All the reviews have been excellent and potential customers abound. This weekend if I was set up properly I would either be at a big car show or at a local fair peddling the sauce.
My current job certainly pays the bills but I have less that 7 years left before I retire at a fair age of 60. This will supplement my retirement income and will at the least keep me busy.
I look forward to other's posting their ideas/plans/business'.
I went through the same gyrations after realizing that my corporate career was probably maxed out in 2021, and cost of living increases weren't going to get me ahead, maybe tread water at best. By any objective measure I was paid a fine salary, but with 5 kids and a desire to track & race better cars, it wasn't a long-term success.
I'm an applications engineer for CNC machines by background, so programming/tooling/operating/training CNCs, and for the previous 8 years I was a product owner (software parlance for product manager) for the CAM software I used as an apps guy, Mastercam.
So I started Vector Manufacturing, where I'm doing contact programming, training, process engineering, fixture design, etc. I specialize in the harder programming (5-axis, mill turn, harder materials, etc.).
This is my second year doing it. I'm on schedule to equal my corporate pay, which is a relief! . It's definitely a roller coaster, for example, right now I'm tight on cash because I'm (hopefully!) nearing the end of a big 3-month project.
I recently got a CNC machine for the garage, so I can start making parts and fixtures for people. So far I've about broke even on the payments, but hopefully as that big project I'm working on wraps up soon, and that'll cover the expense.
If anyone here needs something machined, let me know!
Interesting thread. I was hoping it would continue. I lack the cajones to start a business, and am amazed at the skill, and ability of you guys/girls.
DrBoost said:Interesting thread. I was hoping it would continue. I lack the cajones to start a business, and am amazed at the skill, and ability of you guys/girls.
Agreed. Sorry if I killed it!
I do not have the cajones to start my own business, but my husband has balls aplenty, so here I am. The first five years were absolutely horrifying: We worked nonstop, burned through friends and family who were tired of being asked for their volunteer help, and hated the sound of the mail arriving because so much of it was people kindly letting us know we sucked, while the rest of it was people asking us to pay the money we owed, yet did not have. The only thing I've experienced that's comparable was giving birth to and living with infants, but without the adorable factor. A young business doesn't often smile, even from gas.
None of this is a complaint--this business has supported me, my loved ones, and a staff that's like family for several decades--but if you don't have the money, or low enough standards, to spend at least a few years making little to no money, don't start your own business. If you need positive reinforcement, don't start your own business. If you seek work/life balance, don't start your own business. If you are not absolutely convinced that this is your path, don't start your own business.
This particular business has provided challenges that definitely keep us sharp--from the early days competing against multinational corporations to today's shakeouts that have seen most of the giants fall thanks to the evolution of media habits--so as far as a career here, I've probably had at least half a dozen while staying at the same company.
If you've read this and still think, Yeah, sounds like the way to go for me, then yes--jump on in. Owning your own business is definitely the path less taken, and there is a feeling of aliveness that I'm pretty sure you could only ever get otherwise by juggling knives. Highly recommend, though if you've read any of this, you'll know I'm a little et up, despite my lack of balls.
Margie
I make stickers sometimes.
Some other times I make pictures.
People keep trying to pay me for them.
I'm berkeleyin terrible at judging my worth, setting up stores, basically anything that could monetize the thing that has shown more than once that it could actually make me money. I have merch in other countries. I have a tattoo on someone. I've had strangers ask about the stickers on my car. I have 0 business side social media presentation. I should probably figure that out.
I believe with certainty that I could feed my family. The idea I would be relied upon to feed others is the part I can't get past. Just chicken.
OHSCrifle said:The idea I would be relied upon to feed others is the part I can't get past.
I regret that I have but one upvote to give to this.
Margie
I run a small company that sells, services, and installs commercial pedestrian doors. We specialize in automated doors but have expanded into manual doors over the last couple of years. I have five employees. Four in the field and one administrative assistant. We have been in business since 2005.
Edit to add a couple of photos.
Palmetto State Armory, Myrtle Beach SC.
Medical University of South Carolina. They are one of our biggest customers. I have someone down there just about every day.
Joint Base Charleston
Loading up for the day.
As to how I got here?
I'm a high school dropout. Married at 18. The first kid arrived 2 days before our first anniversary and over the next 15 years, we had 3 more. I've worked a multitude of jobs trying to find a fit that would actually support a family of 6. A lot of them sucked. A few of them were pretty good but dead ends and didn't pay much. As you can imagine, high-paying jobs for dropouts are few and far between.
I ended up in the automatic door business by answering an ad in the newspaper. 3 years later, the guy I worked for and I stepped out on our own and started an automatic door business. It wasn't so much about sticking it to the man, but the feeling that the corporate environment was holding us back. They were terrible at customer service and chasing off our customers as fast as we could find them. Gary, my business partner, and I hashed out the details in a diner one night and turned in notice the next day. It was a pretty terrifying step. Kind of make it of break it. We both kicked some money in. IIRC we started with $10k in the bank. He was sales and a helper when needed. I was the service tech and office girl. I stole my wife's minivan to use as a service vehicle.
Those were pretty tough times. My wife was driving a cab to bring in extra money. I was watching the bank accounts dwindle, personal and business. We were all wondering if we could drum up enough business to stay alive. The next couple of years were brutal at times. On call 24/7-365. Long hours to keep customers happy. Skipped paychecks to make sure suppliers didn't cut us off. Gradually things started getting better. We hired my eldest son as an employee and I spent a year or so training him. That freed my business partner to concentrate on sales and things started picking up. We had built a reputation of being very good and standing by our work. It has paid off in spades over the years. When the 2008 financial crisis hit we were pretty well placed to weather it. We had our niche and a solid group of customers and since we were already used to living on a shoe string it wasn't as noticeable.
Over the years, as business picked up we gradually hired some office staff which let me concentrate on what I'm best at. We have had other employees come and go but have gradually built a great team. Most of them have been with us for over 8 years. Every once in a while my business partner and I would look at each other with a bit of disbelief that we were still going, zero debt, and actually making decent money.
When COVID hit, there were 6 of us. The two of us and 4 employees. Business fell flat. Even the hospitals didn't want anyone working in them. We did a lot of standing around looking at each other, working 20-30 hours while paying everyone for 40. We were burning through the reserves fairly quickly and had just made the decision to go to a 32 hour, 4 day week. Man, I hated to do that but we were running out of cash. So I did something I had never done before. After 15 years in business, I applied for our first loan. It was a PPP loan. They gave us $29k which was just enough to bring everyone back 40 hours a week and still make payroll until business started picking up. We squeaked through and I'm certain I have a few more grey hairs because of it.
Over the last 16 years, we built a pretty good business from nothing. We started out with a couple of guys who were dissatisfied with the corporate world and thought they could do better. That first service call to repair a mall door for $105 turned into a business that literally feeds, houses, and clothes, 5 families. If you are in coastal SC and need anything to do with a commercial pedestrian door, we are the company to call.
My business partner was always the worrier and money worries around COVID were more than he could stand. He was 67 and he was ready to not worry anymore. So I bought him out on January 1, 2021. All of the sudden, I was the sales department and the entire management team. When everyone got to work on January 2nd, they were all looking at me, the high school dropout. That was pretty scary too.
The last year and a half have been a whole new ride. I have changed quite a few things. Expanded in some areas that I thought were underserved markets and pulled back in some other areas that weren't worth the time spent. We grossed a little over $1m for the first time last year and are on course to add another 25% this year. My biggest holdback is employees, as in I don't have enough of them.
If you want to run a business, go for it. Doing so has allowed a high school dropout to go farther in life than you can imagine. But do it with your eyes wide open. Be truthful to yourself and about yourself. Pay people to do what you can't. Pick the people you work with carefully and then treat them like family. Be fair in all things. Fair to your customers, fair to your employees, fair to yourself. Don't treat customers or employees as adversaries. Make them part of your team.
I can honestly say there is nothing more satisfying to me than working for myself. I can also honestly say there is nothing more terrifying. I still wake up in the middle of the night second-guessing myself. I still wonder when the adults will show up and tell me what I'm doing wrong.
Marjorie Suddard said:OHSCrifle said:The idea I would be relied upon to feed others is the part I can't get past.
I regret that I have but one upvote to give to this.
Margie
Agreed.
In reply to Toyman! :
That's an inspiring story man.
I had a business idea back when I was laid off in the '08/'09 meltdown. I know it would have worked with someone else running it. But with a family of 5 counting on me (my wife was starting a little business at the time as well) I didn't have the nerve to go all in. I took the first offer of a 'real job' that came along.
I'm happy where I am, but I'll always wonder what could have been.
In reply to Marjorie Suddard :
Don't sell yourself short. Tim may have the cajones, but I'm pretty sure he wouldn't have been able to do it without your support.
I know I couldn't.
In reply to SV reX :
That's pretty much what I was thinking. Maybe he had the stones to take the leap, but someone else had the stones to trust that leap and take it as well.
In reply to DrBoost :
Bingo!
(I had the stones to leap, without someone alongside to trust the leap)
My "business" is a part time gig parting out specialty cars. It's just me and I occasionally ask my wife to drop off parts at UPS. That's about as far as I'm willing to take my business. The only way I would start a business is if I'm the only employee and I can keep the business going without working myself to death. Otherwise, I'll just supplement my day job and enjoy the extra income it gives me. Building off that, I could never have employees. Someone is always pissed off at you no matter what you do. That doesn't bother some people, but for me it eats at me.
My Dad made a very very good living as an independent heavy equipment mechanic. He asked for a 35-cent raise to be at "top pay" in 2003 and his boss insulted him by telling him someone from West Virginia should be happy to make what he was getting paid (background being top pay was still a $3/hour less than he made in WV). So he quit a very well known heavy equipment dealer and bought his own truck. It was just him with my Mom sometimes helping with invoices. Every time he was about to hire someone to expand his business, they quit before they could start so he gave up.
In reply to Mndsm :
I throw art on teepublic and redbubble to make shirts and stickers for myself. I don't promote it but have made a few bucks from other people finding it there.
I will say, it's a lot easier if someone is taking the leap with you.
I doubt I would be in the same position if I hadn't had a business partner to share the uncertainty with. Just having someone that has your back is worth its weight in gold.
That said, if you go the business partner route, make sure you are compatible. It's like getting married. You will spend more time with your business partner than you will with your wife. If things go sideways, it will be every bit as painful as a divorce. Gary and I worked together for 17 years. While we were friends at work, we kept our personal lives separate from the business. I can count the number of heated discussions we had on one hand. If we disagreed on something we had the capability to come to an agreement without resorting to screaming and shouting. We had the ability to compromise. Many times partnerships go down in flames, so enter into one carefully.
Marjorie Suddard said:OHSCrifle said:The idea I would be relied upon to feed others is the part I can't get past.
I regret that I have but one upvote to give to this.
Margie
This X 1000. The reality that you are now making choices that feed others and their kids is not to be taken lightly.
I still think I'll end up starting/owning a business someday. The reason I haven't is that I have no freaking clue what I'd do - that, combined with the "people will rely on me" has made it hard to jump. I can get seed funding if I need it... If I found something I'd like. I do cruise Loop Net pretty often.
When I get some time, I am going to set up my wife's business. Already got the domains going. Just need to make sure that she isn't going to run into non-compete issues with her current gig, and figure out if/how we can do insurance (meaning, accept health insurance). I may become an office manager for that gig, and I could see it becoming big enough to support a family.
mtn said:I still think I'll end up starting/owning a business someday. The reason I haven't is that I have no freaking clue what I'd do - that, combined with the "people will rely on me" has made it hard to jump. I can get seed funding if I need it... If I found something I'd like. I do cruise Loop Net pretty often.
When I get some time, I am going to set up my wife's business. Already got the domains going. Just need to make sure that she isn't going to run into non-compete issues with her current gig, and figure out if/how we can do insurance (meaning, accept health insurance). I may become an office manager for that gig, and I could see it becoming big enough to support a family.
Insurance was the scariest... hell, cross that off... IS the scariest thing about starting a business here in the US-of-A.
I will say that the state of CT excelled at it for me. I'm only in my second year, of course, but they worked with me to get me on the totally subsidized insurance plan for the first year (since I have no income), and a greatly reduced plan for this second year (thanks to my good accountant dude and 5 kids for giving me a high "poverty level").
I'd recommend talking to your state insurance board. For example, here is accesshealthct.com.
In reply to WonkoTheSane :
Sorry, I was not clear - my wife is a Registered Dietitian. We need to figure out if she can accept health insurance from patients, and if she can, what hurdles we need to overcome to get there.
Incidentally, I do agree on the health insurance. It is, in my opinion, a gigantic killer of entrepreneurship and by extension the American dream. We, as a country, are leaving countless opportunities and advancements in the idea stage because of the albatross that medical costs are on the public.
In reply to Marjorie Suddard :
All of your statements are to spot on.
My uncle when through a lot of the same things. Dodged bankruptcy multiple times and then in the early 2000s everything came together and he scored a couple of large service contracts for the school district and the county. He ran a large diesel repair facility. He also did end of lease refurbs for Freightliner.
Being a business owner is a commitment. I've seen so many of my family get consumed by it. They lived their work for most of their life. Most ended up in a good place but the road was tough getting there. I never had the endless passion for something to commit my life to it but I appreciate the ones that do.
In reply to WonkoTheSane :
Robodrill.
Those are great machines. I never counted, but we probably had a dozen of them when I worked for the parts manufacturer. We beat the E36 M3 out of those things and they just kept on making parts day after day after day, with very few problems.
I spent 35 years with my own company (ies). Mostly construction- high end historic renovation work. I morphed into light commercial work. I also owned a Non-Emergency Medical Transport company (NEMT), and an independent coffee shop. (THAT gave me respect for food services!). Dabbled in a few other things like laser etching, and fabrication.
Currently work for the man, but still can't shake that entrepreneurial itch. I am nearing retirement, and strongly considering a business again. Mulling over a few different ideas...
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