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01-19-2012, 09:54 PM
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#21
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cog
Join Date: Sep 2010
Location: cana-duh
Posts: 3,008
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Quote:
Originally Posted by Zog
Edit: 23 loonies/hr.  |
or 11.5 Toonies 
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The Following User Says Thank You to stuiec For This Useful Post:
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01-19-2012, 10:18 PM
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#22
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Senior Member
Join Date: Feb 2011
Location: Upstate New York
Posts: 516
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Quote:
Originally Posted by Flytyingyaker
A few hundred grand LOL I bet there is not one person on this site with that kind of money.
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I bet if you saw the financials of some of the participants of this site you would be in for an eye opener $200K is a drop in the bucket. Do the math in billing per month based on 1 million - 2 million -3 million- etc- etc per year and you will see that could easily be payroll for a month
A guy going on his own needs some kind of $ in the bank. If you are working paycheck to paycheck and are making $20/hr and an oportunity knocks and you have the balls than take the leap of faith.
Last edited by Hairbone; 01-19-2012 at 10:21 PM.
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01-19-2012, 10:20 PM
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#23
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Senior Member
Join Date: Feb 2011
Location: Upstate New York
Posts: 516
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Quote:
Originally Posted by Zog
Get a business degree.
Seriously, just becuase you are a good electrician does not mean you can run a business. Maybe you don't need a degree but you have a heck of a lot more to learn than you think you do, I bet there are 100 members here on ET that have tried to go out on thier own and failed because they knew nothing about running a business.
Not trying to discourage you, just prepare you. Big difference.
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Zog,
Been down that road and have paid my dues
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01-19-2012, 10:24 PM
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#24
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Senior Member
Join Date: Jun 2011
Location: NC
Posts: 487
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Quote:
Originally Posted by Hairbone
I bet if you saw the financials of some of the participants of this site you would be in for an eye opener $200K is a drop in the bucket. Do the math in billing per month based on 1 million - 2 million -3 million- etc- etc per year and you will see that could easily be payroll for a month
A guy going on his own needs some kind of $ in the bank. If you are working paycheck to paycheck and are making $20/hr and an oportunity knocks and you have the balls than take the leap of faith. |
I was taking it as money in your pocket. Not money flowing in and out of a business account. Doesn't matter anyway. Me personally I do not need that kind of cash. I am aone man show.
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01-19-2012, 10:28 PM
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#25
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Senior Member
Join Date: Feb 2011
Location: Upstate New York
Posts: 516
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Quote:
Originally Posted by Flytyingyaker
I was taking it as money in your pocket. Not money flowing in and out of a business account. Doesn't matter anyway. Me personally I do not need that kind of cash. I am aone man show.
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Profit has to go somewhere 
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01-19-2012, 10:42 PM
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#26
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Heavily Armed Member
Join Date: Sep 2010
Location: Fascistchusetts
Posts: 29,579
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Quote:
Originally Posted by CESnc
i am currently employed full time at a local commercial ec and i work for myself on the side. i advertise on cl and i have a website as well. my call volume has picked up quite a bit but not actual work volume. i was just wandering if any of you older guys could give me some advice on how you can know when its time to go full steam ahead for yourself
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When you get sick and tired of busting your chops for the boss.
When you get sick and tired of having your income limited by an hourly rate.
If your boss is a good trustworthy and honorable man ask him for advise on the subject ,But Remember that is a judgment call on your part, you have to know him well, if so he should help you with his insight.
If you want to build a better life for you and your family then start your own business..............Right Now!!!!
If you have $100,000 in the bank keep it there.
The object of the game is to make money not waste it on all the mistakes you will make starting out.
Rule #1 when the phone rings and it is a big advertiser looking to sell you the greatest advertisement you will get millions of calls for $3,600 a year, when they done with the big sales pitch......Press the Red Button and save that number name it Do not answer#1.
You will find that you will make it to Do not answer#100 in no time.
You have to learn how to handle every penny like it is a million Dollars keep track of every penny and do the paper work every day.
Don't waste your time sitting around trying to make a decision,,Make it already.
As a business owner you will have to make decisions Right Now and you have to live with them.
Starting your own business is the hardest work you will ever do but it sure beats having someone control where your are going to work tomorrow and what time you will be Allowed to take a dump. 
Good luck..
Last edited by HARRY304E; 01-19-2012 at 10:45 PM.
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The Following 4 Users Say Thank You to HARRY304E For This Useful Post:
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01-19-2012, 10:59 PM
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#27
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Senior Member
Join Date: Dec 2010
Location: Twin Cities
Posts: 9,918
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Quote:
Originally Posted by B4T
Guys like you wear this with pride..
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Let's me at a home depot and discuss our differences.
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01-19-2012, 11:22 PM
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#28
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ET Road Warrior
Join Date: Feb 2009
Location: Long Island, N.Y.
Posts: 27,336
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Quote:
Originally Posted by Chris1971
Let's me at a home depot and discuss our differences. |
Sure.. let me know when you get there..
__________________
There comes a time when people who volunteer their service need to step back and see if it is better for them to retire. A red flag is when they become "cranky" and lose all sense of reality by making decisions that really don't make any sense..
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01-20-2012, 07:47 AM
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#29
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Senior Member
Join Date: Apr 2009
Location: Charlotte, NC
Posts: 4,351
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Quote:
Originally Posted by Flytyingyaker
I was taking it as money in your pocket. Not money flowing in and out of a business account. Doesn't matter anyway. Me personally I do not need that kind of cash. I am aone man show.
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Yes you do need that kind of cash, read any business book it will give you an estimate of what you need to have banked to get started on your own.
You are not a one man show, you are a one man with a wife and a baby on the way show.
Last edited by Zog; 01-20-2012 at 07:51 AM.
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01-20-2012, 08:22 AM
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#30
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Senior Member
Join Date: Jun 2011
Location: NC
Posts: 487
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No one man shop doing service work is gonna have that kind of cash. If we all needed a few hundred thousand and a business degree there would be no electrical companies.
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The Following User Says Thank You to Flytyingyaker For This Useful Post:
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01-20-2012, 08:25 AM
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#31
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Senior Member
Join Date: Nov 2010
Location: New England
Posts: 23,972
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Quote:
Originally Posted by Flytyingyaker
No one man shop doing service work is gonna have that kind of cash. If we all needed a few hundred thousand and a business degree there would be no electrical companies.
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There is some truth to that.
But there is also truth to the fact that many more businesses fail than make it. What is your plan to feed the wife and kid when you have no work for periods of time?
My personal experience is that the best electricians make some of the worst business owners.
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01-20-2012, 10:40 AM
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#32
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Senior Member
Join Date: Apr 2009
Location: Charlotte, NC
Posts: 4,351
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Quote:
Originally Posted by Flytyingyaker
No one man shop doing service work is gonna have that kind of cash. If we all needed a few hundred thousand and a business degree there would be no electrical companies.
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Hey, you came here looking for advise, I run 3 companies covering all of North America, worked for some monster companies and some small family owned engineering firms, seen many fail, they all felt prepared.
If you don't like my advise, don't take it.
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The Following User Says Thank You to Zog For This Useful Post:
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01-20-2012, 10:54 AM
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#33
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Senior Member
Join Date: Jun 2011
Location: NC
Posts: 487
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Quote:
Originally Posted by Zog
Hey, you came here looking for advise, I run 3 companies covering all of North America, worked for some monster companies and some small family owned engineering firms, seen many fail, they all felt prepared.
If you don't like my advise, don't take it.
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I didn't come here for advice. And to The comment of how I am going to feed my family. I am going to do what I have been doing. I am going to keep my full time job till I have enough. Cash a d work to go on my own.
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01-20-2012, 11:06 AM
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#34
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Senior Member
Join Date: Nov 2010
Location: New England
Posts: 23,972
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Never mind
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01-20-2012, 11:06 AM
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#35
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Senior Member
Join Date: Nov 2010
Location: New England
Posts: 23,972
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Double post
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01-20-2012, 11:09 AM
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#36
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Senior Member
Join Date: Apr 2009
Location: Charlotte, NC
Posts: 4,351
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Quote:
Originally Posted by CESnc
i was just wandering if any of you older guys could give me some advice
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Quote:
Originally Posted by Flytyingyaker
I didn't come here for advice..
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01-20-2012, 12:17 PM
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#37
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Senior Member
Join Date: Oct 2008
Location: SC
Posts: 224
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Quote:
Originally Posted by CDN mini-EC
$14/hr as foreman?
I was getting $23 in my first year  |
Yes im being serious, not churching it up any, a whole $14. The motivation behind doing what I do now! That is typical of SOUTH CAROLINA. I love the state but it has issues, and poverty being a big one. Now maybe one could understand how you can not get $2000-$4000 for a panel replacement!
excellent post Harry.
I would say that one of the biggest reasons a new company fails when its new is because the owner becomes bigg dogg. Hes got to go buy truck he cant afford, house he cant afford, boat, motorcycle, jetskis, hoes on the side, and whatever else you can think of that one does not need. Having these things when you can truely afford it is great but dont show off before that!
Last edited by caseyelectric; 01-20-2012 at 12:27 PM.
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01-20-2012, 12:18 PM
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#38
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Senior Member
Join Date: Jun 2011
Location: NC
Posts: 487
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Quote:
Originally Posted by Zog
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You quoted myself and the op
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01-20-2012, 12:28 PM
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#39
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Always Learnin'
Join Date: Sep 2007
Location: Indiana
Posts: 1,289
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Quote:
Originally Posted by Flytyingyaker
I didn't come here for advice. And to The comment of how I am going to feed my family. I am going to do what I have been doing. I am going to keep my full time job till I have enough. Cash a d work to go on my own.
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In your original post you specifically asked for advice.
My apologies. You weren't the OP.
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01-20-2012, 12:36 PM
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#40
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Senior Member
Join Date: Jan 2007
Location: Wilmington, NC
Posts: 4,874
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Quote:
Originally Posted by Flytyingyaker
No need to worry about me Ill be fine.
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Glad to hear it. Hope you stop by and visit sometime.
__________________
asomatous
Lou
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