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That's me. Found myself in the pages of that book.
I left the military in 1971 to become a salesman. I had no real education; no family. And I thought (still do) that sales would be a good way for me to play on a level playing field. Turned out, I was right.
I excelled. Top salesman at a retail outfit. Moved to a fortune 500 outfit; top salesman there, too - top out of 2500!
But they didn't pay me much money.
Another company. Director level. Same stuff. Pres & VP both thought they could do my job better than me. Second guessing. Endless meetings. Compensation plan that had a ceiling.
That's when wife and I became manufacturer's reps. We repped about 6 -7 companies in the fabric industry, and we absolutely knocked 'em DEAD! We out worked and out performed everyone, and we made lots of money, too. Bout damn time, after all those years of "just working".
But that died, too. Fabric industry in the USA is just about non-existent. It finally croaked when we were about 60. I had always wanted to drive a truck, so I got a CDL and drove the truck for 5 years. Retired 2010.
So based on my experience and observation I can say this:
We loved being self employed. We worked an awful lot, but the reward was there. It took years and years to accumulate enough experience to make a business, but it was worth it for us.
And there are a million ways to be self employed. Loads of truckers are self employed. I know a couple who owns a truck and she is a licensed freight broker. So she dispatches her husband and a few others, and they are about as happy as anyone I know. If she needs him home she will accept a load that brings him home.
Service industries are best for self employed people; retail is worst. Dunno about manufacturing.
Read the book. Decide if you have grit. Then, go forth and do.
But be aware: I have always worked a lot. I HATED the times in my life when I was limited to a clock schedule. Being self employed did not demand that I work more; it allowed me to work more.
It is an absolute rarity to find a company worth working for these days. I've seen employers gain near unlimited power and control, and most employees are treated as disposable and worthless. Positions are being combined, wages going down, benefits and pensions are disappearing, work is being off-shored, and very few jobs offer even a shred of stability of these days. Working for an employer is just NOT the picture perfect utopia I imagined it would be!
Just in my short six years, I've witnessed and encountered:
- nepotism/favoritism (preference towards "friends" rather than skills and qualifications)
- embezzlement/fraud by managers/officers
- violence/sexual harassment in the workplace
- corrupt/unethical business practices and managers
- seen people thrown under the bus for stuff they didn't do (happened to me once too!)
- people fired for literally no reason, or frequent layoffs
- the emergence of permatemp and contract jobs (low pay and no benefits with a "promise" of permanent employment that never happens)
- Management directly lying to employees, misleading them, using them.
- RIDICULOUS hiring practices
- abusive bosses. Employees treated like garbage.
That's why most people job hop these days. Some people are able to leave their dysfunctional job environment and go somewhere else while a few are stuck because they have a mortgage and kids to support. Job hopping is something that employers frown upon on but people are always seeking better opportunities.
I posted back in May and since then have lost one of those part-time jobs, continue to troll for another, and am trying now to also start up a home-based service business on a small scale. I could run only a few regular clients or it could become more.
Whatever, it will always be just me doing it as I have no desire to deal with employees or a partner. Right now I am in the ''big push'' marketing phase: devising materials and avenues of marketing and networking with others in the similar service industry.
Just getting up in the morning knowing I am creating and working this biz excites and motivates me. It's fun for now to try and if it goes bust, well at least I tried.
I have never been much of an entrepreneurial type, though I've had good business sense and ideas. Problem was, my dad owned a business and I saw his struggles. Working 60-80 hour weeks for nothing more than the privilege of being his own boss. He didn't even like his work and maybe only paid himself 45k a year. I saw business owners (and still do) in similar situations, working ridiculously hard for very little gain. Work as a business owner became your life. I always felt strongly as a kid and young adult that I just wanted to work for a big company, do my work well, and everything would fall into place.
I'm 28. I've been working professionally for six years now. Every year it gets worse.... In fact, I think my first year was the best since I worked for a cool tech company for a year before getting laid off. Since then though, it's all been downhill. I've been appalled by the corruptness and just plain ****ty practices at most companies. It is an absolute rarity to find a company worth working for these days. I've seen employers gain near unlimited power and control, and most employees are treated as disposable and worthless. Positions are being combined, wages going down, benefits and pensions are disappearing, work is being off-shored, and very few jobs offer even a shred of stability of these days. Working for an employer is just NOT the picture perfect utopia I imagined it would be!
Just in my short six years, I've witnessed and encountered:
- nepotism/favoritism (preference towards "friends" rather than skills and qualifications)
- embezzlement/fraud by managers/officers
- violence/sexual harassment in the workplace
- corrupt/unethical business practices and managers
- seen people thrown under the bus for stuff they didn't do (happened to me once too!)
- people fired for literally no reason, or frequent layoffs
- the emergence of permatemp and contract jobs (low pay and no benefits with a "promise" of permanent employment that never happens)
- Management directly lying to employees, misleading them, using them.
- RIDICULOUS hiring practices
- abusive bosses. Employees treated like garbage.
Really the list could go on and on.... All that matters to a lot of these companies is the bottom line and filling the pockets of the top dogs as deep as they can. Employees of today are just getting all stepped over and no one is stopping anything. I honestly almost feel like going into a trade because unions (while ridiculous sometimes) are at least garnering some respect for employees. All and all, it's harder than ever to get hired, no job is stable, wages/benefits are going down, and employers will step all over their employees.... What's even the point anymore?
All this being said, I'm highly reconsidering my stance on starting my own business. I'm very nervous about it and not sure what I would even do... I also am not fond of potentially working 60-80 hour weeks. Not only that, but they say 4/5 businesses fail in the first year, and another 4/5 fail in five years, That leaves us, what, a 4% chance of long term success? Definitely scary. But six years in the corporate world and I don't think I can stand another year with the way employment is trending. I think I now understand why my dad worked so hard and long just for the privilege of being his own boss.... Unless you are one of the lucky people who can get in with one of those very rare good companies (and even then nothing is guaranteed), it is simply not worth the struggle of being in such a rat race.
Anyone here start their own business because they were sick of trying to work for an employer? What helped you get things off the ground? How did you handle things like health insurance or retirement savings? Are you happier now with your own business? Thanks for any of your responses!
Brilliant post which sums up a lot of the posts on this board - I think everyone should be looking to maximise their income with second jobs, assets and businesses if you have capability to this, of course many others actually like corporate jobs and fit in well in this environment of at least they say they like it.
I think a starting position is to get a second job as it opens your mind to other things, corporate jobs and employees drain your enthusiasm.
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