/biz/ - Business & Finance

>>50947955
I'll take that as a no. Got it, you're all retards.

>>50947955
i do, since 2017 and funnily enough surviving the entire corona bullshit somehow, not an americlap though
what do you want to know?

>>50947955
I tried to go independent consultant as a software engineer in a very specific specialty.

It lasted about 2 years before I could no longer be profitable. There are much bigger fish out there and most people don't want to work with one person. I made about 60k in two years but I also spent about 100k in two years from just life.

I went back to work 6 months before (((COVID))), so there's that.

>>50948210
Just why you did it, what made you get started, what did you learn, what would you change to make it better if you could redo, that kind of thing

Yes

>>50948344
pls elaboriate

>>50948297
>why you did it, what made you get started
i didn't like wageslaving for another dude, making my boss rich while i collect scraps
i am an antisocial neet, i am able to mask it but eventually pretending to be a normie to my coworkers exhausts you
i can't handle early mornings, i am basically a zombie before 11am, being selfemployed means you can go to your workplace whenever the fuck you want, i usually arrive at my office at around 1pm, check on my employees, give them enough work to do until next day and then fuck off back home by 4pm, sometimes i go to my office to do paper work at 1am just because i feel like it
>what did you learn
the gov and (in your case IRS) is the enemy
don't play fair
do the absolute minimum so they don't get suspicious
fix numbers everywhere
intentionally fabricate a few months of shit sales while you pocket the profits
>what would you change to make it better if you could redo
don't bother with online
lost so much time, nerves and money on that
it's not worth it unless you are large enough and profit off literal slave labor
basically, if you want to go self employed, find something that works locally, with less than 10 employees and is always in demand
limit your expenses to 3 things
- rent of your building
- wages
- tax
if you can cover that with your business model, and picked a field that gets enough interest from your LOCAL (50 miles radius at most) area that you are always busy you will succeed
don't be the retard that leases a new AMG withing the first 3 months after taking out a 1mill loan as a startup for your company
DO NOT TAKE LOANS
start with your own capital, as small as it might be
the amount of connections you have after 6 months will decide whether you'll be "just getting by" or making it big within a timeframe of 5 years
the first years is almost guaranteed to be in the red so don't sweat about it as long as you can make it even in the 2nd and a profit in 3rd (hint hint, don't play fair as stated above)

>>50948216
Why did he take so many pictures of himself acting like this? It's like he wanted to ruin his dad's career or something.

>>50948388
I do Property Management for a living. Noticed how hard it was to find goodhandyman. Now I have a general maitenance company, with a side business in subcontracting out an a.c company that doesn't have it's contractor license, and I also provide home inspections for insurance purposes or for real estate transactions. Maitenance is general odd job here and there but mostly I send my two friends around town pressure washing because that's what they like to do and I know they can't fuck it up.

>>50948431
thank you for probably the only firsthand knowledge i've ever seen on this board

>>50947955
started working for myself in 2020.
I have several streams of income for my business but as current my intial investment is already well paid off, I have 0 debt and I am nearing 5figs per month.
rental business btw (commercial equipment)
>>50948431
good post lad, wagmi

>>50947955
Antique Dealer here.

Yes, I have a business that makes money. It isn't easy, and it isn't much, but it isn't wage slaving for someone else. Instead you wageslave for your own business. Taxes will always be higher than what you think/want them to be, costs will always be higher and sales will always be lower, but there is some measure of freedom. You can make a mistake that will cost you months of time very easily (happened to me) and alternatively you can luck out and gain an advantage. You make your own luck, work hard and smart, and you might make it.

I don't recommend working for yourself unless you absolutely want to as the risks, fear, lack of stable income, lack of support for family without stable income, chaos factor will drive you mad without some level of patience. You are susceptible to market changes and your business can be destroyed/weakened very easily as well.

The benefits are freedom to some extent from a manager, though you are a self manager. I wouldn't recommend many people to do what I do but I would recommend entrepreneurial people to at least try a side job before trying out a full time business

>>50948460
>>50948488
>>50948522
high quality posts ITT

>>50948522
>Antique Dealer here.
oof man
i have an antique dealer next door, old guy, he's been there since before i moved into the building too, like 10+ years and now he has to close down by the end of the year because inflation and lack of customers absolutely destroyed him, hope you are doing better
>I don't recommend working for yourself unless you absolutely want to as the risks, fear, lack of stable income, lack of support for family without stable income, chaos factor will drive you mad without some level of patience. You are susceptible to market changes and your business can be destroyed/weakened very easily as well.
also this lol, the first time i saw my bank account hitting red i was crushed and almost gave up
and if shit hits the fan, yep, your own salary is the first thing that eats the bullet
i learned to have a "fuck everything" attitude, probably not the best solution and certainly not for everyone but it helped me (especially when it comes to avoiding taxes lmao)

>>50948551
I read your story, the connections part was interesting as you definitely need those!

>inflation and lack of customers absolutely destroyed him, hope you are doing better

Don't have a store, most of us don't- combination of online, shows etc. Not the same advantages as a store but overhead far far lower as well as danger

> the first time i saw my bank account hitting red i was crushed and almost gave up
>i learned to have a "fuck everything" attitude

Yeah that makes sense. Paying taxes isn't fun but definitely recommended as you gain increased credit score, can gain leverage and credit, expand business etc. Growing business slow but painful while looking for new opportunities. Everyone does their business differently to a degree of course.

Learning how to deal with losses, costs, working just to pay bills is very important, staying positive over years (I know, but it's important) are key to continuing operations.

>>50948534
Thank you OP, let me know if you have any questions

>>50948551
The thing about working for yourself is your ability to adapt. It's more a mindset than it is a business. Think of it as just an ability to hustle and make money under a variety of circumstances. All too often do I see people get attached to a particular field or business. I understand people have passion for certain things but if something isn't working, your ability to jump ship and divert your effort elsewhere is what is going to really separate you from the pack.

This is why many successful people will act all cocky saying if they had to start over with $0 they could do it. It's because they've already gotten over the learning curve.

>>50947955
OP take note of what this anon says

>>50948604
>>50948604
>he thing about working for yourself is your ability to adapt. It's more a mindset than it is a business.
>ability to jump ship and divert your effort elsewhere is what is going to really separate you from the pack.

I had plans which failed multiple times, switched sales categories, structure etc, you just keep going and finding something that works. If this isn't possible then there is absolutely no shame in working for someone else. Make sure you survive first, then go from there and use your spare time to learn, try new things and hope something sticks with you

get in the business of selling business plans to people wanting to start their own business

>sell the shovel