Re: OT:long term business advice - Saab General Bulletin Board - Saabnet.com
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Re: OT:long term business advice
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Posted by SWEDECAR [Email] (#112) [Profile/Gallery] (more from SWEDECAR) on Sun, 14 Sep 2008 15:57:20 Share Post by Email
In Reply to: OT:long term business advice, IdiotSam, Fri, 12 Sep 2008 20:35:17
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It seems to me that it is too early for you to know all this and demand more.

In your own words, After a little bit more than year in business you know it will provide you until retirement 20 years from now but you also know it will not make your filthy rich and it will be ups and downs the whole time.

That's quite a lot to know after only a year+.
What kind of business is so secure that you know it will not grow anymore in the coming years (or fail) and the ups and downs will not smooth out year by year?

It's been 5 years now since I opened shop but only in the last year I have surpassed the income as I made before being just a mechanic and I sure put in a lot more hours now. I also know that I will not be filthy rich doing it the way I'm doing it but it provides enough and it gives a good feeling of creating something.

Running a one man shop (you don't state if you have employees or not) puts a limit to what you can physically handle and the only way to to make more monetary wise is to raise your prices or labor rates and only take on the good jobs and discard the bad ones.

That can be a tough tightrope walk and might take several years to achieve.

But than again your profession might be a software creator where you come up with this super smart software that no one can be without and then a Microsoft giant steps in and buy you out for $50 Mil and you are set for life.

Anders

SWEDECAR

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