As an outside salesman, I am tired of the low pay for the long hours. Not that I am not appreciative of the perks associated with being an employee, but I have the A personality to tackle it myself. Recently, I was shafted again by greedy owners, enough to make me think seriously of going on my own. Question: Who has been in the same position as me and made the plunge? What were the results? Was the grass too green, is there really a chance to make it with hard and diligent work? Any responses appreciated.
zuki

I "made it" in three different businesses. First was a weekly shopper newspaper 30 years ago. I sold out at a wonderful price after only five years.
In 1988 I opened a night club and it was probably the most successful in town for seven years. Doing all my own entertainment was the key!
I later owned a golf driving range and club-making business. It was just starting to make it when I lost the lease on the land.
I've also been pretty successful as an entertainer for the past 30 years.
The pitfalls are paying your own retirement, insurance, etc., but it CAN be done if you want to do it badly enough.
DonM

Many companies are started with the last paycheck including the first one of my five.
It doesn't take a lot of money to start a company if you have a marketable talent and the work ethic to succeed.
However, it does take a lot of money to GROW a company.
Most new businesses fail in the first three years. If you make it to the fourth year start looking for a money tree and make plans for growth.
The real way to make money today is to start and build a company, take it public and then sell
Bebop

Making it on your own is a scary, but potentially exciting venture.

I am an old "hippie" who got into the corporate world, first as an auditor for a tire company. That sucked, so I shelved my accounting degree, finished a marketing degree and got a job as communications manager for a telephone company. Next, I went to work as a writer/photographer for an international electrical manufacturing company, where I spent 30 years and worked my way up to Advertisinf/marketing director
for the largest division. I had a basic distrust of big business and intentionally planned to never count on my "day job" for more than 1/2 my income. A French company purchased the company I was working for and I was told I had to transfer to Chicago.

I had roots in Lexington and aging in-laws with Alzhiemers and Parkinsons disease.
I learned valuable skills at the electrical company. They paid for two additional graduate degrees, I had a substantial retirement and 401 and good industry contacts.


I started my own packaging, literature, music and film production company (I had done part-time project work since the mid 70'S)in 1993. This year, we'll do over $12 million in business, without making one outside sales call, with no web site or even a bold listing in the phone book.

Walking away from a $100,000 plus job was frightening, but easier for me because all three kids were out of school and I always played at least 4 nights a week and taught part time at the local University.

IT FEELS GREAT to be independent! You'll love it, if you have a passion for what you do, are VERY good at it, and live and breath your business EVERY DAY!

Carefully prioritize your life, and don't let your focus on your new venture negatively impact the ones you love.
Look for more than money as a reward for your hard work. The secret is to find a way to do for a living what you would do for fun.

Organize your life and work that way and you "knock em dead"!

All the best...please contact me if you need to talk to someone who has been there. If you're thinking of starting a rep organization (many of my friends have)I can put you in contact with some fine people who manufacture products for the hardware/sporting goods industries and are always looking to expand their representation.

Russ

Thanks again guys for the advice. Also, thank you Russ for the specific invitation. I'll keep you posted on my next move.
zuki

If you have to ask for opinions you're probably not quite ready. I'm not trying to be a smart ass but when the time is right you will know it and yes it's ok to be scared silly. I've been living by my wit's for 29 years - some have been rough and others great, pretty much like anything in life. I've liked my life style, I could have made more money maybe but have been pretty happy for the most part. Do your home work check to see if your present contacts will helpful for you, Ect Etc.

1. Make a game plan.
2. Prepare to put your plan into action.
3. Kick your self in the butt and go for it.

Good Luck

Jerry

Zuki,

My story goes like this: I worked for one company after another as an electrical engineer. When I reached IBM I thought I was set. After 15 yrs, I was thinking I didnt like it anymore. A year later I get laidoff, I get my PE license and move South, where I start working in a slighty different field of engineering. While working in this new field, (which I love!) I still get laid-off 2 more times. After that, I said I will start my own business. It was Coffee distributing. I found out that it takes an unbelieveable amount of self-discipline and persistence and no salary to make a go of it. (I closed this down in January) In parallel, out of the blue, I try my hand as a Consultant and Contractor as Forensic engineer. And Voila! I am working two jobs now as a contractor. Its great!!! I control my own time and money. At the end of the day, I don't owe the company anything and they do not owe me anything.

My advice: If you like your field/specialization, then find something special about your skills and grow them. Make yourself valuable in it, and market yourself personally to companies, and be a contractor. You hourly rate geos up, and you control your time. You are dedicated and as loyal as long as they pay you. If you can find a specialization that everyone wants, you got it made. And most important when you work, give them a little more quality then they are expecting. Also write articles in trade magazines, Take courses to better your specialization. It all pays out in the end.

The funny thing about what I do: I would not have been able to do it, without all the years and all the different jobs I had. The layoffs and job changes actually gave me the necessary skills to be the Rounded engineer I am and able to investigate different types of electrical/electronic problems.

Next week, I am takig an immersion course in Fire & Explosion Investigation. I hope to get my Certification in this area.....Who knew that I would be here 5 years ago!....Who knew!...

Don't quit!!!! Keep your eyes open and learn the skills you need to do it!!...and dont forget to add a little prayer here and there!...it does help a lot!


Good Luck...MusicJohn


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MusicJohn

Hi Zuki

My kind of man - I have believed for years that there should be some kind of federal law that said all Americans should be required to run their own business for at least 5 years.

I have been in business over 20 years. Like everyone else I had really big plans. My field requires higly skilled and motivated people to execute the work for the clients I work for. I run a remodeling/cabinetmaking/ service type operation. Oftentime my sales exceed $100k per project. After loosing hundreds of thousands over the years trying to train and retain skilled workers, I finally said to hell with them all about 6 years ago. And no, I did not go bankrupt. I paid evey penny I owned.

The very best advice I can give you is this.

Choose something that can be done by you and you alone with possibly the exception of 1 or 2 employees that you can very carefully watch. The United States is about to have its clock cleaned by much more dedicated and highly motivated workers in China. Easy living, drugs and a host of other crisis problems are seriously hampering the ability of American companies to continue with business as ususal.

Remember that if you are self employed, what that really means is that everyone in the country would have to FIRE you before you are out of work.

For the first few years you will most likey have very little time for family, hobbies, play or anything but building your business. IT will most likely take every cent you can come up with to sustain it and grow it the first few years. Go for the highest margins you possibly can. That takes real sales skill.

You will have much more free time if you keep it very small. IF you are service based, you will have much more income if you keep it very very small. I have been big and I have been small - SMALL IS BETTER.

You should remember that the really big companies will try to derive every cent of income from you that they can before you discover how dishonest they are. They depend on a constant turnover of startups that they can rape.

Sorry if this sounds pesimistic but it is the way it really is. You will quicky develop the optimisic attitude that says - anything that can go wrong - will.

I am keenly aware that the only reason I have survived in business all these years is because many years ago I turned it over to GOD. Somehow he always works it out and evens the score. I don't know how or why.

I wish you the very best.

Danny



[This message has been edited by pianodano (edited 08-21-2005).]

Funny how the months flew by since my original post. Last Friday I parted ways with my employer and got the green light from my significant other to go Independent Sales with lines that I contractually lined up - industrial type metalworking fluids, cleaners and paint related products. I have a small $$ reserve and her job/insurance to sustain. Thanks again for all replies to my initial thread and I will heed the advise given, including lots of prayer. My goal is to continue this thread with positive reports in 6 months

zuki

zuki ... BEST OF LUCK ...
I wish you every success in your venture ... Just one thing amongst 'other things' ...now you can't call in SICK !!!
t.