What do you do?
 

For those of you who own & operate your own company - what do you do? I have been with the same company 19 years (not my company - I'm not Sandy Weil). Over the past few years, I have been looking into business' - some franchises, some not. I was a partner in a tanning salon for about 1.5 years - didn't work out real well - it was too far away from my house, not a great location, partner 'not on the same page' as me, etc, etc. Plus - those franchise fees were a bit STEEP!

What business' do you own? What are the pros and cons? Franchise or not?

Thanks in advance - John

My dad is the co-founder of Capstone Financial Partners in Atlanta. They have something to do with Mass Mutual.

JCX5 i don`t know waht you do at your job, but you should try to see if it is something you can use to star your own company :thumbup:




I don`t own any business at the moment, the brother has a small cell phone store and the parents have a small video/record store.

at this moment i and a friend are working on a plant to open a company, but it is something that could get kind that big if we do good and the 7 digets income should be no problem fi this goes good..

it has to do with packaging, I know just about everyone on this forum had a package at some point that was designed by me :D

Thanks guys - I have been in I.T. for 19 years - from programming to mgt. Now in a very large company, I think - just maybe - I'm burned out. Can't get anything done without 10 forms, 6 signoffs, and 2 reviews. It feels like each and every request turns into a fight of some sort. Anyway - I've been browsing some of the 'business for sale' sites - I see a few video stores for sale - looks interesting. Buying a bar looks VERY interesting - but the license is very expensive. We'll see....

Anyway - thanks for the replies.

JCX5

Good luck!

Just remember one thingn that you have to enjoy your business.

not allways :D sometimes people don`t enjoy waht they do but they for sure enjoy the money they make :D :D :thumbup:

I work at a small aluminium casting foundry, technically I'm just an assistant Die Setter, but I really do anything from making tools to die casting and product finishing.

Its enjoyable work since I love metal working and fabrication, and it pays well enough to keep two cars on the road, plus all of lifes other expenses ;).

[QUOTE=JCX5]For those of you who own & operate your own company - what do you do?



HISTORY OF C1C
I own a fortune 25,000 communications company :rolleyes:. I originally was in the Army. But after GWI (Desert Storm), Somalia, and Bosnia, I got tired of the deployments and McDonalds pay. After 11 years, I got out and joined the communications revolution. I started out as a USG contractor for a small company owned by (believe it or not) Whitney Houston's brother. Then I jumped ship to the prime contractor. After 3 years out of the Army I decided top start my own company and bid on a contract in Bosnia. Since then, I have expanded to operations in 40 states and 5 countries. I make it seem bigger than it is and it is bigger than it seems. I have to give all the credit to the military. They took a relatively bright punk and turned him into a fighting machine :gun:(calm down wood :stfu: ). The main thing they taught me was confidence and the art of organized warfare.

I have worked in the IT business for the past 15 years so that seemed like a logical extension of what type of company to start. You have to know what you are doing in order to be good at doing it. I look back now and wonder how I have been successful at it. I seems to be easy for me and I refuse to believe that I am some kinda rocket scientist or Bill Gates. I definitely learned some good things in the Military

Starting a business always seems like a good idea. Why not work for yourself. But there are alot of pitfalls in running a business. But my suggestion is to go for it. I have increased my personal income by 40% every year since I left the military in 97 (then making 28k). If ya want more "advice" I am full of ideas and suggestions. Small businesses account for as much as 60% of GDP and lets face it, for every car on the road in the US, there is a contractor truck behind it doing XYZ

Aint that the truth!! Its a good life for some..I monitor contracts and it nuts the $$$ Uncle Sam pays..Good on ya' though!!

I work for myself. I just don't own or have a company. I am a contract technical writer, and -- thankfully -- I have had some very good (and well-paying), long-term contracts. I've been very fortunate, and hope that my luck continues.

Juan

If it's an IT related thing, you better know your market. Lots of upheaval in that field of late. If you are going to open a business, make sure you know what you are getting into. Unlike BMWood, when I opened my business, I got paid for the first 2 months, and then went without a paycheck for the next 16 months. When I did start to get paid again, as compared to my previous, large company salary, the next year was only about 50%. After that, things started to go a little better, and we've picked up the pace a little.

I was frustrated, like you, with the 10 million pieces of paper attitude. I wouldn't go back to that for anything (OK, I would, if someone offered millions of dollars for my company).

Luckily, my partner and I knew what to expect, and we were (relatively) prepared for it. It takes luck, hard work, and a little bit of staying power.

The keys are this:
- know your market, its potential, and your ability to capture a share of it
- have realistic income expectations initially
- get financially sound personally before you do it.
- go for it.

Family business

We own a machine shop an we were working in the telecom industry for many years machining heatsinks, towers,working with fiber optics for a well known company that used to be the industry leader: Nortel :tsk:


Thinking about moving into the automotive field (been watching a little too much overhaulin' and biker build off's) :D

Family business too....

CPAs... After being an employee for years at other CPA firms, there is nothing like being your own boss....

I remember sitting at my desk at 5:20, done with work for the day, but not being able to leave becuase it was not 5:30. I remember sitting at my desk pissed at the rediculousness of the situation. Now, if I am done working at 4, I leave - although the downside of working for your own business is that I tend to work much later (more responsibility being an owner vs. an employee)...

Good luck!