[T A 70]

Originally Posted by Old Blue 66

Id love to hear more about the great experiance. Id also like to hear more positive things about being self employeed. Seems here per Chris's original post, working for yourself really sucks. Than why would you do it??

My dream is to work for myself. I love the fact that the money a client or customer is paying out is coming to ME and not to the company investors to make them rich. Ive just never had the idea or been able to put up any capital to start something.

It definitely does not suck. Wouldn't trade it for ANYTHING. And the possibilities are endless for income if you are successful. Freedom and control are very important things to me. But so is discipline. If you neglect the business or forget for any length of time that is about making money you can get yourself in trouble pretty darn fast. Delegating effectively enables you to keep your eyes on the business and build sales. Get too caught up in the grind of it all and the opposite happens.
Also, what you do with the money you make is extremely important; you must build a nest egg of cash for the down times or recession. All these shuttered businesses of late didn't do that. Reinvest in the business to make it faster/efficient to improve cash flow as well. If the business slows down, you can still "make it" with quick turn around times in many businesses. Not all, but specifically manufacturing.
You know what the biggest inspiration was for me? Watching all the immagrants over the years come here to do just that-start their own business in this free country of ours. Whether it be a liquor store, dry cleaner, coin laundry, etc. they did it!
I'd be damned if I let that pass me by in my life.

[Old Blue 66]

Originally Posted by T A 70

It definitely does not suck. Wouldn't trade it for ANYTHING. And the possibilities are endless for income if you are successful. Freedom and control are very important things to me. But so is discipline. If you neglect the business or forget for any length of time that is about making money you can get yourself in trouble pretty darn fast. Delegating effectively enables you to keep your eyes on the business and build sales. Get too caught up in the grind of it all and the opposite happens.
Also, what you do with the money you make is extremely important; you must build a nest egg of cash for the down times or recession. All these shuttered businesses of late didn't do that. Reinvest in the business to make it faster/efficient to improve cash flow as well. If the business slows down, you can still "make it" with quick turn around times in many businesses. Not all, but specifically manufacturing.
You know what the biggest inspiration was for me? Watching all the immagrants over the years come here to do just that-start their own business in this free country of ours. Whether it be a liquor store, dry cleaner, coin laundry, etc. they did it!
I'd be damned if I let that pass me by in my life.

All great advice.