Small Biz Owners

[floridaorange]

After being your own boss - could you ever go back to working for someone else? I love the adventure of big and small months but it’s not my wife’s cup of tea. I’ve flirted with the idea of going to work for someone else again - but by the time I’m ready to make it happen I tend to become very busy with work and set the idea to the side. I’m sure others here have been in my situation - would be interested to hear your thoughts.

[dreamingat30fps]

Originally Posted by floridaorange

After being your own boss - could you ever go back to working for someone else? I love the adventure of big and small months but it’s not my wife’s cup of tea. I’ve flirted with the idea of going to work for someone else again - but by the time I’m ready to make it happen I tend to become very busy with work and set the idea to the side. I’m sure others here have been in my situation - would be interested to hear your thoughts.

Hell noooooo!!!! Literally my only goal is to save up enough so incase the shit hits the fan and something happens with my business I can just retire. Won't go back to a regular job unless I'm about to be homeless.

But then my business is pretty much completely online except a few events I go to each year. Maybe if my business involved me sitting in an office all day like a regular job and paid the same as a regular job then I'm not sure I would care much either way.

[chassis]

Done both. Prefer my own gig, but both have pros and cons.

[Watching The World Burn]

Its a little exhausting at the moment, but unlikely I'd want to go back.

[S1nner]

Nah...hopefully never again, unless I don't have another choice.

[xander_g]

Having done the corporate thing with the nice office and reserved parking spot and having gone out on my own, I could never go back to climbing someone else's ladder.

Running your own business can be very challenging at times but a lot more rewarding.

Pros and cons to both, so perception vs perspective kinda deal.

[Alfisti]

WHat do y'all do for a gig?

[Watching The World Burn]

Tax accountant.

As much as employees can be exhausting, I'm hoping to grow the business enough to take on another accountant in a year or two. Currently have one CPA working for me, would like two...probably offer the current guy a partnership buy in opportunity in a few years if he's working out.

[ZL9M2]

I would never work for someone. I haven't since college - 35 yrs ago.

[Manny01]

I work at a massive Mega Corp. Wife is the owner operator of a medical billing company.

We'd both switch places in a heart beat.

Something tells me the grass isn't always greener.

[Ginster6]

being the boss is always good. I own 2-1/2 different companies.

Only problem the staff will never work as hard as you. so most of the times you end up doing it.

[Watching The World Burn]

Originally Posted by Ginster6

being the boss is always good. I own 2-1/2 different companies.

Only problem the staff will never work as hard as you. so most of the times you end up doing it.

Precisely. But then again, why should they? I'm not suffering from any delusional thoughts that they care about my business like I do, and they aren't frankly compensated to care the same as I do. Care, yes, just not to the same extent.

Which is why it is exhausting at times.

For example, the last 50-60 tax returns I just went through, I'd say at least half had little errors in them. Generally not the same one over and over, but I would either correct it (after I called the client to get the missing info) or I'd give it back to them to correct it so that they can learn from it if I thought it was repeating. These are errors that maybe saved the client $400 - $800 on average I'd guess and they are also errors that the client would never ever notice. I *could* have just processed them as is and not corrected anything and it would have saved me a lot more time instead of me working till about 11pm every night in April M-F, and during the day on Saturdays. I *could* have. But I can't really, because I care. They don't. But I know that, and prepare for it.

Ultimately, having staff can sometimes be a bit like adult babysitting. But when you do too much of it, its time to cut the umbilical cord and let the adult go to other opportunities.

[hubbahubba]

Originally Posted by floridaorange

After being your own boss - could you ever go back to working for someone else?

In late 2014 my wife and I both quit our jobs and went out on our own to open a restaurant. That was her world, not mine, but we went for it together. In early 2016 I got a call from my old employer saying they had a project that they had hired a guy specifically to do, but his wife was transferred out of state so he quit. They had nobody on staff that had the experience to do it, and was I interested in doing this project for them? After a year and a half of not having a paycheck and paying for our own insurance, it didn't take long to make the decision to grab the money. It was supposed to be a 2 year gig. At 3-1/2 years in, and with at least a year to go, the restaurant had grown to the point where Mrs H needed me back, so back I went. We've never looked back. Going back to being an employee with a healthy salary allowed us to get over the hump at the restaurant. In our case, it was worth every minute, especially since I really liked my job and company. Given the proper time and place, I'd do it again, I just don't see that time and place appearing anytime soon. I'm loving the freedom I have now!

[floridaorange]

Great responses and insights - I’ve been on my own self employed since 2010. I’m more excited again now honestly after this thread. Our fam went through a recent loss and there was some new tension at home where I work - will leave it at that. Was feeling some pressure to seek more stability but it’s been crazy busy the past week, funny how that always works.

[Donatello.]

I am waiting for this crazy market to correct enough so I can start to try to make a go at selling cars. Tired of working for the man.

It will start as a side gig, of course. I am not talking flip anything. I want to focus on performance cars. Nothing about a Corolla excites anyone...

[LuisBoston]

Originally Posted by Donatello.

Nothing about a Corolla excites anyone...

Toyota enters the chat

(Maker of the best selling car of all time)
😉

[Watching The World Burn]

Originally Posted by LuisBoston

Toyota enters the chat

(Maker of the best selling car of all time)
😉

They don't buy them because they are excited about them.

It has always puzzled me that in Toyota deciding to bring back the supra nameplate with BMW that the two of those got together and decided that BMW strength lay in designing a bulletproof engine and Toyota strength lay in design. I mean if we were living in opposite world then yeah maybe...

Though maybe Toyota took a look at the obscene grills BMW has been obsessed with lately and decided they weren't going to chance giving BMW an opportunity at design dunno.

[Roman]

Originally Posted by floridaorange

After being your own boss - could you ever go back to working for someone else?

No. Period. Full stop.

I'd rather work 50 hours a week doing MY thing even if I only made $40,000 a year than work 40 hours a week making $140,000 a year doing someone else's thing.

That said, having been an employER, I would make a great employEE.

[Donatello.]

Originally Posted by Watching The World Burn

They don't buy them because they are excited about them.

It has always puzzled me that in Toyota deciding to bring back the supra nameplate with BMW that the two of those got together and decided that BMW strength lay in designing a bulletproof engine and Toyota strength lay in design. I mean if we were living in opposite world then yeah maybe...

Though maybe Toyota took a look at the obscene grills BMW has been obsessed with lately and decided they weren't going to chance giving BMW an opportunity at design dunno.

[Bezerk]

I'm loving the freedom bit.

Of course it is a great advantage when you can manage your own time. Although in reality it usually just means that you work way too much. At least a lot more than what others might consider to be healthy .

And as a wholesaler, we were hit hard by Covid 19. Still facing the consequensces to this day...

So, definitely not always a joy to be a business owner. But positive thinking and hard work will lead to new chances, so i'm not ready to give up my freedom just yet

[3.0L]

I did it backwards, I guess. I worked in a mom & pop consumer electronics retail store for 23 years. I started out as the janitor during my senior year of high school and ended up being the general manager and half owner. I sold the business in 1990 and landed a great job at our local university as an equipment technician in ITS, where I stayed for 21 years, then retired with a good pension and good health insurance. Best move I ever made.

[TheMidnightNarwhal]

Well, if you are comparing a "normal" job working for a private company VS owning your business, sure I'd love way more to be business owner.

But comparing owning your business to a job you don't work for private, like a public sector job, I much rather keep my job security and pay. When you don't work for someone/organization who's only goal is to make the most amount of money possible, it changes the dynamic of your job tremendously.