Self employed/small business owners

[Mike Gayner]

Who here is self employed or owns a small business? What do you do and how long have you been doing it? Would you ever go back to being employed for salary/wages?

I want to run my own business some day, either in my trade (accountancy) or something else. Definitely can't afford to right now though.

 

[Miramonti]

Daytrading. While it never was meant to officially be a 'business', its my 12th year doing it for a living and I run it like a business. Ihope to never work for anyone else again, but it can be very hard work and I sometimes crave a 9-5.

 

[highland145]

Consumer finance. 23 years, 5 for self. Like the $$ now because business is decent. $$ wasn't that good working for others. All things remaining equal, I'll be here til I retire.

Who would hire me now. I spend all day with you guys.

 

[Heller]

My dad ran a small videos(with a small adult section) store for 35 years before being disabled. he was the only shop in town and before bloxkbuster and hollywood video came around he made some very good money. moved into a big 5 bedroom house in a nicer town, drove lexus's and bmw's and had a 27foot fishing boat. as the millemium reached buisness slowed town and he decided to go all adult and the internet just killed that.

now hes disabled after major back surgery and is on horrible pain medications and sits in his lazyboy all day. he can't do much and its hard for him to whipe his own ass. I feel bad for the man my father lost it all at the age of 53 and now is slowly and slower deteriorating.

 

[Mike Gayner]

Daytrading. While it never was meant to officially be a 'business', its my 12th year doing it for a living and I run it like a business. Ihope to never work for anyone else again, but it can be very hard work and I sometimes crave a 9-5.

Wow, really? I have an interest in the markets and the idea of day trading has crossed my mind, but I'm not sure I would have the discipline, dedication and balls to make a full time living out of it. Do you have many months where you make nothing at all or lose money?

Consumer finance. 23 years, 5 for self. Like the $$ now because business is decent. $$ wasn't that good working for others. All things remaining equal, I'll be here til I retire.

Fascinating - the business I want to start when I have the money is a lending business too.

Heller - sad story

 

[highland145]

Fascinating - the business I want to start when I have the money is a lending business too.

Heller - sad story

Remember hearing a news story that listed the worst paying jobs. Don't recall #1 but #2 dishwasher, #3 consumer finance employee. There were some very lean years. I bought one rental at a time, paid it down and used that one to buy another. Sold them all to be here. Scroll down to my post in the middle of the page. http://forums.anandtech.com/showthread.php?t=2032712&highlight=highland145&page=2

Agree on Heller.

 

[eits]

i'm going to be starting my own small business as an independent contractor very soon.

 

[highland145]

i'm going to be starting my own small business as an independent contractor very soon.

Doing?

 

[Miramonti]

Wow, really? I have an interest in the markets and the idea of day trading has crossed my mind, but I'm not sure I would have the discipline, dedication and balls to make a full time living out of it. Do you have many months where you make nothing at all or lose money?

I made huge money right away but that's because I knew how to take advantage of the crazy .com volatility. Those were the good 'ol days. I had experience as a floor trader years before that so I wasn't going in cold by any stretch.

For starters I'd recommend tracking Azurik's annual stock market thread. I have a much more intraday trading approach than them but there is a lot of sensibility in the thread to gain insight from.

 

[AdamK47]

An accountant. Figures.

 

[ViviTheMage]

day trading looks fun.

 

[Mike Gayner]

An accountant. Figures.

Please elaborate? What do you do for a living?

Also, who are you?

 

[Miramonti]

day trading looks fun.

It is fun when it goes well.

 

[D1gger]

Construction business. I would consider working for salary again when I am tired of the headaches of running a business, but only after I was ready for partial retirement.

 

[BarkingGhostar]

i'm going to be starting my own small business as an independent contractor very soon.

As opposed to a dependent contractor?

 

[AdamK47]

Please elaborate? What do you do for a living?

Also, who are you?

You are an accountant. I therefore concluded my reply with the reponse of "Figures".

I am Francis J. Pentempalon.

 

[Modelworks]

I do visual fx and cg animation freelance. I started out 20 years ago though as an electrical engineer. I did that for about 12 years and was earning triple digit salaries but gave it up. Money is nice but not if you spend your life hating what you are doing to obtain it. I found out there were more important things and I already had an interest in the visual fx since I was kid and had kept it as a hobby. So I took my hobby and made it my job. I earn about 30% of what I did before but I probably extended my life by 30 years and am enjoying myself so I don't care.

 

[PsiStar]

engineering ... I would take a real job again with a small or new company.

Regardless, do not start a business at home if you have a young family. Too many people cannot disconnect the fact that you are at home and therefore are "available".

Of course, if you are meeting customers, you may want an office someplace else. Which is more professional & eliminates the family issue, BUT that is extra expense. Then you will have the debate of health insurance versus office space rent.

 

[Mike Gayner]

The business I want to start would require a premises - yes it's an extra cost, but in my case a 25sqm office space would be fairly cheap. And we have first world social health care, so no extra costs there

 

[guyver01]

Fascinating - the business I want to start when I have the money is a lending business too.

Don't church it up boy.. you want to be a bookie.

 

[Mike Gayner]

Don't church it up boy.. you want to be a bookie.

We don't need "bookies" here because gambling is legal. Strangely, society isn't crumbling around me :hmm:

 

[scott916]

I do visual fx and cg animation freelance. I started out 20 years ago though as an electrical engineer. I did that for about 12 years and was earning triple digit salaries but gave it up. Money is nice but not if you spend your life hating what you are doing to obtain it. I found out there were more important things and I already had an interest in the visual fx since I was kid and had kept it as a hobby. So I took my hobby and made it my job. I earn about 30% of what I did before but I probably extended my life by 30 years and am enjoying myself so I don't care.

How do you find work? How did you learn the software packages?