Anyone here work for themselves?

[Farang]

I started working for myself last July, from home. So far I've only made ~$7k, but a lot of that has just been a learning experience so I expect to make more in the future. Hard to say how much as the business is still evolving. I think I'll get another $10k in the next week or two so not like I'll be out on the street (I'm in my twenties and single). I think it's pretty reasonable to expect at least $50k/year when I get better. But obviously hard to say that when I've only made about $1k/month so far.

Anyway I got contacted for a job a week or so ago, the guy met me for coffee near my house. I was interested enough to go onsite to meet the owner of the company in an office an hour away. I'd been a bit discouraged to not have made as much as I'd wanted so far on my own.

An hour there, an hour back, hearing this boss drone on about how special his company and team is, bla bla bla bla..

I've been scared for awhile that I could never work a 9-5 again, or work FOR anybody again, after this recent experience. Going to that office reminded me of what it's like.

Am I screwed? Anyone have a similar experience after venturing out on their own? It's kind of terrifying because I don't know if I'm capable of making money that way anymore, which means if I fail I'm going to be a bum

/blog

 

[JPerk]

What do you do?

 

[Farang]

What do you do?

At the moment, primarily I represent a venture capital firm in finding software engineers for their portfolio of startup companies (recruiter). I collect a fee per engineer placed. I say "at the moment" because that isn't exactly what I started doing, but the business has evolved over time.

It isn't agency recruiting as you might imagine it, I'm more the functioning HR department of companies that don't have one yet.

 

[madoka]

I've been scared for awhile that I could never work a 9-5 again, or work FOR anybody again, after this recent experience. Going to that office reminded me of what it's like.

Am I screwed? Anyone have a similar experience after venturing out on their own? It's kind of terrifying because I don't know if I'm capable of making money that way anymore, which means if I fail I'm going to be a bum.

I had the same fears. If I don't get a steady stream of clients, I'm screwed and the thought of that is pretty scary. Plus, I have a gigantic gaping hole in my resume now, so there's really no turning back for me.

On the plus side, I choose when I work, where I work, with whom I work, how long I work, what I work on, and if I work. Since I have enough clients that I have to turn some away, my time is almost completely fungible with money. If I want a new toy, I just work more. This level of freedom would be hard to ever give up.

 

[Farang]

I had the same fears. If I don't get a steady stream of clients, I'm screwed and the thought of that is pretty scary. Plus, I have a gigantic gaping hole in my resume now, so there's really no turning back for me.

On the plus side, I choose when I work, where I work, with whom I work, how long I work, what I work on, and if I work. Since I have enough clients that I have to turn some away, my time is almost completely fungible with money. If I want a new toy, I just work more. This level of freedom would be hard to ever give up.

I hear you on the resume hole. The guy interviewing me today only asked about my performance on my own, rather than with previous employers. My performance on my own is horrible because I've intentionally taken it somewhat casually to see what works and what does not. It reflects nothing on my effort as a hired gun, being paid by someone else. I have a completely different standard for that.

And just the general sense of control he wanted to take of the conversation--I've come to think in terms of business partnerships rather than subordination. It makes it hard to ever work for anyone again unless I'm payed very well for that loss of freedom

 

[Charlie98]

I've always had jobs where I was out on my own (over-the-road truck driver, my own landscape company, now my own pool service company) or at least left to my own devices. I don't know if I could go back into an office (I was a dispatcher for 7 years in a high-pressure central dispatch office) or work for someone else. True, I bear the entire burden of success or failure as well as the fiscal side of it (those are two different things, mind you...) but it allows me some amount of flexability I enjoy that I would have to give up working for someone else.

 

[Red Squirrel]

I've been brainstorming various ideas to be able to eventually work for myself. I like my job, but I can't count on it always being there. Especially something like a NOC, it's not that hard for the company to move it somewhere else or close it. So I need to have a backup plan. Not much other IT/telco related jobs here so if I lost my job at my current company things would be tough.

I've thought of getting into web hosting, but it's such a cut throat industry with everyone overselling for insanely low prices like $2 per year for 9999999GB. Just seems it would be impossible to compete. I might still give it a try at some point though.

I've also thought of getting into systems monitoring. Basically do full blown setting up of monitoring equpment/software + monitor for monthly fee. Basically start my own NOC!

The software I've been working on for myself can monitor server stuff as well as environmental stuff.

Though the issue with starting a business that revolves around a self created product is having to deal with patents and all that BS. Chances are the app I coded violates some obscure patent somewhere. If I use it for my own personal use is one thing, nobody will really know, but if I start a business around it and it turns out that the shade of red I used for critical alarms is copyrighted or some BS like that, I'll lose more money than I make.

 

[overst33r]

I have nothing to add, except congratulations to you.

 

[VAisforlovers]

I hear you on the resume hole. The guy interviewing me today only asked about my performance on my own, rather than with previous employers. My performance on my own is horrible because I've intentionally taken it somewhat casually to see what works and what does not. It reflects nothing on my effort as a hired gun, being paid by someone else. I have a completely different standard for that.

And just the general sense of control he wanted to take of the conversation--I've come to think in terms of business partnerships rather than subordination. It makes it hard to ever work for anyone again unless I'm payed very well for that loss of freedom

why would you have a resume hole? can't you just put "self-employed" or something to show that you've been working on your own after you left the previous company?

 

[Slew Foot]

Im the CEO of my own company, but its in the medical field so its probably not to relevant to yo.

 

[WaTaGuMp]

Yes.

 

[skull]

I've slowly started working for myself. I started 3 years ago as a maintenance man for a property owner. I had my own pickup. I just started buying tools and honing my skills. He didn't work me full time so I got by working for other property managers and homeowners here and there. I started working for another big rental property owner. I'm a full-blown independant contractor now I just got liability insurance and and licences. So I raised my prices and the guy i've been working for for 3 years decided i'm too expensive. So its a little scary but fuck it I have to keep pushing never gonna make it working for nothing. I bought a third truck monday. Going to start advertising.

 

[Farang]

I've slowly started working for myself. I started 3 years ago as a maintenance man for a property owner. I had my own pickup. I just started buying tools and honing my skills. He didn't work me full time so I got by working for other property managers and homeowners here and there. I started working for another big rental property owner. I'm a full-blown independant contractor now I just got liability insurance and and licences. So I raised my prices and the guy i've been working for for 3 years decided i'm too expensive. So its a little scary but fuck it I have to keep pushing never gonna make it working for nothing. I bought a third truck monday. Going to start advertising.

Cool. This is why I keep pushing myself to continue, I work on finding other revenue sources and when I look back at how I started things are completely different now. It just sort of evolves over time and you have to let it run its course.

 

[manimal]

I read your post right up to the point you said you don't work very hard.

Why even bother if your sabotaging your success right off the bat.

 

[Farang]

why would you have a resume hole? can't you just put "self-employed" or something to show that you've been working on your own after you left the previous company?

In this particular field in an interview they are going to ask about how many placements you've made. The problem with that is you're equating building a new business to performance in an existing business with other team members who have already been making money. In my case I wasted 4 months with business partners that were wasting my time in a very lopsided arrangement, it took me another 2 months to find new partners, and now I'm getting traction again.

 

[Farang]

I read your post right up to the point you said you don't work very hard.

Why even bother if your sabotaging your success right off the bat.

I think part of that is that it doesn't feel like work most of the time, rather than me not actively doing anything. And what I learned early on is that quality is much better than quantity, so I try not to waste energy on things that aren't likely be pay off. In the first few months I was working my ass off and made no money because the customer was just window shopping

 

[highland145]

Consumer finance for 26 years, nearly 8 for myself. It's always a concern about the industry/economy/regulations but, today, it's what I know and make $$ at. Freedom/flexibility/$$/mostly low stress. Would suck big balls to have to work for someone else again.

Good luck.

 

[Tweak155]

I started my own business with online retailing. It grew and grew and grew but I got shafted (well, I shafted myself) and had to quit that business. It was easy but I would have need to have grown it to the point where I didn't have to do the work, or else it was pointless.

Anyway after I quit working for a company, it was great for a little bit, but I quickly found I liked working. I landed simple contract work then grew my income to a level where I don't have to worry about anything (probably reach that mark at $65k+) and just have plenty of money left over. I figure if I don't have to worry about money, I don't need to shoot for more. So technically I'm still a contractor but I don't work for myself. I get work coming my way all the time, but I'd take another direct hire position.

I wouldn't mind doing my own contracts but just not motivated. I make "too much" to worry if that makes sense. I'm not overly rich or anything.

I don't get why people who are self employed yet do work for other companies consider themselves to not have a boss? A company hires you to do XYZ and if they aren't happy you hear about it. It sounds like a dillusional separation. You're your own boss when you (yourself) aren't doing any work for anyone else.

 

[highland145]

I started my own business with online retailing. It grew and grew and grew but I got shafted (well, I shafted myself) and had to quit that business. It was easy but I would have need to have grown it to the point where I didn't have to do the work, or else it was pointless.

Anyway after I quit working for a company, it was great for a little bit, but I quickly found I liked working. I landed simple contract work then grew my income to a level where I don't have to worry about anything (probably reach that mark at $65k+) and just have plenty of money left over. I figure if I don't have to worry about money, I don't need to shoot for more. So technically I'm still a contractor but I don't work for myself. I get work coming my way all the time, but I'd take another direct hire position.

I wouldn't mind doing my own contracts but just not motivated. I make "too much" to worry if that makes sense. I'm not overly rich or anything.

I don't get why people who are self employed yet do work for other companies consider themselves to not have a boss? A company hires you to do XYZ and if they aren't happy you hear about it. It sounds like a dillusional separation. You're your own boss when you (yourself) aren't doing any work for anyone else.

For me, the consumer finance industry doesn't treat/pay employees very well. A lot of pressure, unrealistic expectations, produce, produce, produce so upper management can make more $$.

 

[Farang]

I started my own business with online retailing. It grew and grew and grew but I got shafted (well, I shafted myself) and had to quit that business. It was easy but I would have need to have grown it to the point where I didn't have to do the work, or else it was pointless.

Anyway after I quit working for a company, it was great for a little bit, but I quickly found I liked working. I landed simple contract work then grew my income to a level where I don't have to worry about anything (probably reach that mark at $65k+) and just have plenty of money left over. I figure if I don't have to worry about money, I don't need to shoot for more. So technically I'm still a contractor but I don't work for myself. I get work coming my way all the time, but I'd take another direct hire position.

I wouldn't mind doing my own contracts but just not motivated. I make "too much" to worry if that makes sense. I'm not overly rich or anything.

I don't get why people who are self employed yet do work for other companies consider themselves to not have a boss? A company hires you to do XYZ and if they aren't happy you hear about it. It sounds like a dillusional separation. You're your own boss when you (yourself) aren't doing any work for anyone else.

It's a grey area I guess. I'm closing business deals so while I have clients, they aren't specifically paying me to accomplish anything. I work 'for' them only insofar as I convince them to pay for a service.

But you're right, everyone has a boss. A businessowner's boss is his clients. Sometimes that is one big client, sometimes a bunch of little ones (like your retail business). I think there is a distinction between that and being paid hourly to accomplish a task. You would become a business owner once you convinced someone else to do your hourly work for less than you were billing, therefore selling a service to a client is your main occupation rather than the work itself.

I don't agree with your definition because everybody who makes money is working for somebody else, or else nobody would pay for what they do. Steve Jobs worked for me (and millions of others) to make us want to buy his products

 

[Tweak155]

It's a grey area I guess. I'm closing business deals so while I have clients, they aren't specifically paying me to accomplish anything. I work 'for' them only insofar as I convince them to pay for a service.

But you're right, everyone has a boss. A businessowner's boss is his clients. Sometimes that is one big client, sometimes a bunch of little ones (like your retail business). I think there is a distinction between that and being paid hourly to accomplish a task. You would become a business owner once you convinced someone else to do your hourly work for less than you were billing, therefore selling a service to a client is your main occupation rather than the work itself.

But with retailing I could eventually pay anyone to box and ship a product. I can also hire managers to deal with problematic customers. I foresee a way out with retailing.

The only truly unescapable beast is the government.

 

[Tweak155]

It's a grey area I guess. I'm closing business deals so while I have clients, they aren't specifically paying me to accomplish anything. I work 'for' them only insofar as I convince them to pay for a service.

But you're right, everyone has a boss. A businessowner's boss is his clients. Sometimes that is one big client, sometimes a bunch of little ones (like your retail business). I think there is a distinction between that and being paid hourly to accomplish a task. You would become a business owner once you convinced someone else to do your hourly work for less than you were billing, therefore selling a service to a client is your main occupation rather than the work itself.

I don't agree with your definition because everybody who makes money is working for somebody else, or else nobody would pay for what they do. Steve Jobs worked for me (and millions of others) to make us want to buy his products

But if I'm just buying and reselling Steve Job's hard work, I don't have to do anything.

Either way, this is why I never say I'm my own boss.

 

[Farang]

But with retailing I could eventually pay anyone to box and ship a product. I can also hire managers to deal with problematic customers. I foresee a way out with retailing.

The only truly unescapable beast is the government.

But as a businessowner you still have a boss-your customers. If they don't like your performance you get fired.

"Anything You Want" by Derek Sivers provides some good insight on this. He opted for a larger volume of small customers and opted for quality over quantity of customers so he could have more freedom to do what he wanted with his company.

Anyway I didn't mean anything by 'working for myself' other than working for an indeterminate amount of money outside of the normal 9-5 structure

 

[bignateyk]

I do, but I also have a full time 9-5 job. I'm too much of a pussy to leave my secure well paying job to do my consulting (which I enjoy doing about 10x as much). So I do about 10-15 hours consulting per week and 40 hours of my regular job. (embedded software design)

 

[IndyColtsFan]

I've been scared for awhile that I could never work a 9-5 again, or work FOR anybody again, after this recent experience. Going to that office reminded me of what it's like.

Am I screwed? Anyone have a similar experience after venturing out on their own? It's kind of terrifying because I don't know if I'm capable of making money that way anymore, which means if I fail I'm going to be a bum

/blog

You're young and single and now is a good time to take a shot like that. I've played it safe my whole life and have worked for companies the entire time. I wish I would've taken more chances. Maybe I'll go 1099 and do consulting at some point.