Is Your Business Running YOU Or Are You Running Your BUSINESS?

 
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Old 01-24-2007, 01:11 AM   #1
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Is Your Business Running YOU Or Are You Running Your BUSINESS?


The reason I asked is because when I first started I was working 6-
7 days a week. I have finally gotten to the point that I can work
when I want and take a day or two off if I choose.

I have learned to manage my work load, accept jobs that won't control
my every move, and make a profit. I quit my job (Chief Engineer in a Hotel) so I could stop working 60 plus hours a week.

Now I think I can SAFELY say I am running my business. What about you?
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Old 01-24-2007, 04:39 AM   #2
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


No. I cut back my hours a few years ago. I got bored. To me, 60 hours a week is a part-time job.

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Last edited by wasdifferent; 01-24-2007 at 04:47 AM.
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Old 01-24-2007, 08:53 AM   #3
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


Quote:
Originally Posted by Mr. Wms View Post
The reason I asked is because when I first started I was working 6-
7 days a week. I have finally gotten to the point that I can work
when I want and take a day or two off if I choose.

I have learned to manage my work load, accept jobs that won't control
my every move, and make a profit. I quit my job (Chief Engineer in a Hotel) so I could stop working 60 plus hours a week.

Now I think I can SAFELY say I am running my business. What about you?
You have found the secret to life I have said for years people need to run their businesses not vice versa.
Very few can actually acheive it (ego prevents it)...Those that do, know what we have!
It is much like maturity. I know 70 year old people that are immature? Some will just never get it
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Old 01-24-2007, 10:20 AM   #4
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


Business controls everything. Ever hear of feast or famine. When good work that you can actually pick and that pays well comes your way you should be working however long you need to period. Unless you have someone trust worthy to take control of the reins while your not there taking off never seems like a good Idea. I know everytime I am rolling and start to relax because I have things like current bills, work scheduled and regular money it bites me down the road for not hustleing everything available or pushing every saturday. The whole point of being self employed is to do what you are doing Mr. Wms, call your own shots, decline pointless estimates and have time for yourself. Since you are a retired engineer my guess would be that health care and pention are in order already and this is just a gratifying venture.
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Old 01-24-2007, 01:32 PM   #5
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


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Business controls everything. Ever hear of feast or famine. When good work that you can actually pick and that pays well comes your way you should be working however long you need to period. Unless you have someone trust worthy to take control of the reins while your not there taking off never seems like a good Idea. I know everytime I am rolling and start to relax because I have things like current bills, work scheduled and regular money it bites me down the road for not hustleing everything available or pushing every saturday. The whole point of being self employed is to do what you are doing Mr. Wms, call your own shots, decline pointless estimates and have time for yourself. Since you are a retired engineer my guess would be that health care and pention are in order already and this is just a gratifying venture.
Instead of taking it while you can get it.....lets say you talk with a client and say. It may be a month or two until I can do your job. I can schedule you for the third time slot if you choose to proceed.

If that customer is agreeable then you now have work for months. Instead of bopping back and forth between jobs and trying to keep people happy you are now focusing on one or two jobs and being efficient. Increasing your profits and working less?

If you cannot work 40 hours and make a living you are working to cheap. If you work more you should be amply rewarded.

Heve you ever heard the saying "you can't see the forest for the trees?" Your case is exactly what Mr.Wms is referring to?

Not trying to be nasty, and I could have you pegged wrong but it would be my observation?? Think about it?
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Old 01-24-2007, 01:50 PM   #6
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


The point of being in business for yourself is different for everyone. Some of us want to grow the business into something huge, highly profitable, and self-sustaining. Others of us choose to keep it small.

For me, keeping it small is what works (right now). I just got rid of some employees that weren't pulling their share of the load, and I'm now amazed at how fast I am at everything when I only have myself to deal with (Never had a communication problem yet ).

I work crazy hours sometimes, sometimes it's closer to 40/week, but what I do know is, I can support my family, I can be home when it's important, I got to be there when my kids were born (and home for 2 weeks after to enjoy them), and I have also been fortunate enough to build our dream home (OK, it's not finished yet!!) all at the ripe old age of 31!

I got started in this business 4 years ago and used to work as a tool & die worker. The pay there was great, but I worked from 6:00am to 6:30pm Monday through Saturday every single week, with no brreaks, and 1/2 hour lunches.

At least now I can treat myself like a real human being and smell the roses once in a while, and make time for what's important to me!

Marty
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Old 01-24-2007, 02:01 PM   #7
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


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Originally Posted by tom m View Post
Business controls everything. Ever hear of feast or famine. When good work that you can actually pick and that pays well comes your way you should be working however long you need to period. Unless you have someone trust worthy to take control of the reins while your not there taking off never seems like a good Idea. I know everytime I am rolling and start to relax because I have things like current bills, work scheduled and regular money it bites me down the road for not hustleing everything available or pushing every saturday. The whole point of being self employed is to do what you are doing Mr. Wms, call your own shots, decline pointless estimates and have time for yourself. Since you are a retired engineer my guess would be that health care and pention are in order already and this is just a gratifying venture.
I am no where near retirement age. I have just been able to tailor
my business to where it meets me and my families needs. Its still
feast or famine for me like anyone else. I've just learned not to
acquire massive DEBT!
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Old 01-24-2007, 02:07 PM   #8
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


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Originally Posted by MKamis View Post
The point of being in business for yourself is different for everyone. Some of us want to grow the business into something huge, highly profitable, and self-sustaining. Others of us choose to keep it small.

For me, keeping it small is what works (right now). I just got rid of some employees that weren't pulling their share of the load, and I'm now amazed at how fast I am at everything when I only have myself to deal with (Never had a communication problem yet ).

I work crazy hours sometimes, sometimes it's closer to 40/week, but what I do know is, I can support my family, I can be home when it's important, I got to be there when my kids were born (and home for 2 weeks after to enjoy them), and I have also been fortunate enough to build our dream home (OK, it's not finished yet!!) all at the ripe old age of 31!

I got started in this business 4 years ago and used to work as a tool & die worker. The pay there was great, but I worked from 6:00am to 6:30pm Monday through Saturday every single week, with no brreaks, and 1/2 hour lunches.

At least now I can treat myself like a real human being and smell the roses once in a while, and make time for what's important to me!

Marty
That's what I mean Marty, I'm like you, I have downsized and kept
it small and simple. Building your dream home is a great accomplishment.
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Old 01-24-2007, 02:10 PM   #9
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


Metaphor:

It's like riding a horse, and for me I feel only the last couple of years I have had a good grip on the reigns. The other portion is how much of the path ahead can I see. Winter gives me a 1/2 mile, and summer gives me 5 miles. It feels good, but I also need to remind myself that whenever I stop keeping my wits about me, the horse could buck me off, the road ahead could end...
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Old 01-24-2007, 02:15 PM   #10
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


Quote:
Originally Posted by Danahy View Post
Metaphor:

It's like riding a horse, and for me I feel only the last couple of years I have had a good grip on the reigns. The other portion is how much of the path ahead can I see. Winter gives me a 1/2 mile, and summer gives me 5 miles. It feels good, but I also need to remind myself that whenever I stop keeping my wits about me, the horse could buck me off, the road ahead could end...
But by working hard and smart you will have many horses to ride. The trails can be endless. If you get bucked off...get on another horse that won't buck.

Last edited by copusbuilder; 01-24-2007 at 02:15 PM. Reason: horses not horse
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Old 01-24-2007, 02:43 PM   #11
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


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But by working hard and smart you will have many horses to ride. The trails can be endless. If you get bucked off...get on another horse that won't buck.
That's my second level metaphor, and was saving that for later.
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Old 01-24-2007, 04:53 PM   #12
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That's my second level metaphor, and was saving that for later.
All these Metaphors are too confusing
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Old 01-24-2007, 05:38 PM   #13
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


"I've just learned not to acquire massive DEBT!"
I think I have gone from gun-ho to humbled. I first had several guys and a shop but it was always heavily on me and too many guys said they had skills they didnt and pay requests that were a joke. So keep it small I said to myself and provide many different services and sub out as much as possible. But if your paying health insurance, workers comp, liability, small sep, equipment repairs, those under shot quartely taxes from last year,accounting fees, maybe that truck payment and did I mention personal draw that covers life outside of work--- your forced to generate work that covers these things and any payroll for the work it self. So if your carrying around this kind of luggage even as a small company you need to be selling 20k a month for at least 12k needed. If you can be debit free and have no worries "god bless" thats what its all about. Once its in your blood it can consume you.
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Old 01-24-2007, 07:24 PM   #14
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


The low debt concept IS very important regarding comfort level as a business owner. The best things I have done are 1) I bought my home 8 years ago when you could still get a house for a reasonable price 2) I have a 15 year mortgage on that home, and it will be paid off by the time my oldest daughter starts high school 3) I have never, and will never own a new car or truck. I look for low mileage vehicles that are at least 4 years old, and they work just as well as anything else. 4) Whenever I have the know-how to do something myself, I do it. The last time I hired out any work for non-business purposes was when I had my oil changed during one of those 10 degree winter months (and I still feel guilty about using an oil change place!).

Most people end up with a lot of debt because they don't think about what they need, rather it's about what they want. You should get what you want when you've earned it and own it outright, not simply because you sign your name on some loan papers. This is how the objects in your life end up owning you!
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Old 01-24-2007, 07:34 PM   #15
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


Oh my god, my business without a doubt not only runs my life it consumes every part of it! I have some many thoughts running through my head i that i have trouble sleeping at night! Its the excitement of what lies ahead for me is what keeps me up.

It doesn't matter if i am on a job site or not, its all i think about. I think i need to get some hobbies!
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Old 01-24-2007, 08:28 PM   #16
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Oh my god, my business without a doubt not only runs my life it consumes every part of it! I have some many thoughts running through my head i that i have trouble sleeping at night! Its the excitement of what lies ahead for me is what keeps me up.

It doesn't matter if i am on a job site or not, its all i think about. I think i need to get some hobbies!
Alcohol can help with that
If that doesn't work then there are harder illegal drugs that can be had
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Old 01-24-2007, 11:49 PM   #17
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


^^^ LOL

My main proablem is i just love what i am doing so much. I think its more than just loving my actual trade, and more about just loving being in business. I'm just a big fan of capitilism and am very greatful that we have the oppertunity in this company to achive whatever we put our mind to!

I have trouble falling to sleep at night because my body slows down but my mind stays at 200mph! There is just so many different ways i'd like to go with my business, i hope i am able to make them all work!

Matt
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Old 01-25-2007, 09:39 AM   #18
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


I have been working my business for 5 years. I would have to say the first 2 years were the roughest. I was getting 98% of the jobs that I bid on.

And what does that tell us gentleman???wacko: I was bidding way way way to low. I would work from sunup to sundown.

People would hammer me on price and I would lower it to get the job. Funny thing was I was so busy but hardly making a dime. Then to add injury to insult they would hammer me on nitpicky stuff, so I could lose more profit.

Time is a funny thing though. As I got more experience and learned from my many mistakes, something in me changed. I started charging more/getting less of the jobs/ and making more money. Go figure huh.

Then I started taking control of the job and stop letting clients push me around. I stopped working some many hours. And I was actully happy.

I guess what I am trying to say in my rambling post is this. My job used to control and consume me. Now I am in control, and it feels great.

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Old 01-25-2007, 08:06 PM   #19
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Re: Is Your Business Running YOU Or Are You Running Your BUSINESS?


Running me for sure I need to quit my boss is jerk he never lets me have time off he can't say no to anyone and doesn't have time to hire anyone else. Oh wait I'm the jerk.
Man I need to get some more employees.
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Old 01-25-2007, 09:22 PM   #20
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I have been working my business for 5 years. I would have to say the first 2 years were the roughest. I was getting 98% of the jobs that I bid on.

And what does that tell us gentleman???wacko: I was bidding way way way to low. I would work from sunup to sundown.

People would hammer me on price and I would lower it to get the job. Funny thing was I was so busy but hardly making a dime. Then to add injury to insult they would hammer me on nitpicky stuff, so I could lose more profit.

Time is a funny thing though. As I got more experience and learned from my many mistakes, something in me changed. I started charging more/getting less of the jobs/ and making more money. Go figure huh.

Then I started taking control of the job and stop letting clients push me around. I stopped working some many hours. And I was actully happy.

I guess what I am trying to say in my rambling post is this. My job used to control and consume me. Now I am in control, and it feels great.

Mark

That was very well said I am glad it only took a few years for you to figure out. I was not so quick

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