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  1. #26
    Join Date
    Jun 2012
    Location
    Ct
    Posts
    2,233

    Re: Business owners.

    Quote Originally Posted by Louie1961 View Post
    Number one rule of business, to me, being a CPA is keep records. You can't figure out your true costs without records, and you can't maximize your deductions without records. You don't need a shoe box of receipts either, but that will do. You can always snap pictures of your receipts with your phone and store them digitally in the cloud with something like Evernote or OneNote. Heck you can even do it with quickbooks on your smartphone now too. Keep track of all the miles you drive too.
    This is so important, in now starting to keep good records

    Sent from my KYOCERA-E6820 using Tapatalk

  2. #27
    Join Date
    Apr 2016
    Location
    Cleveland, Ohio
    Posts
    536

    Re: Business owners.

    I have worked for myself for years, not doing welding, but as a contractor doing marketing and corp comm and as an adjunct college English professor. I went back to corporate two years because I found a place I love, but I still teach on the side. I also edit papers, manuscripts, etc.
    Gina M. Tabasso
    HGR Industrial Surplus
    gtabasso@hgrinc.com
    www.hgrinc.com

  3. #28
    Join Date
    Dec 2012
    Location
    South Carolina
    Posts
    826

    Re: Business owners.

    Ill go ahead and throw this out there. In business, the saying, "its not what you know but WHO you know" is very true. Networking, is huge
    - Christian M.
    C3 Welding & Fabrication
    - CNC Plasma Cutting
    -Mobile Welding
    -Custom welding and fab
    www.c3welding.com

  4. #29
    Join Date
    Mar 2010
    Location
    Delaware
    Posts
    2,802

    Re: Business owners.

    If your thinking of going in business for yourself, you have to have your head screwed on straight and think about a few things.

    You will be everything from the owner to the janitor, so keep this in mind.

    Everything will be on your shoulders, so as Clint Eastwood would say (you have to know your limitations).

    If your married you have a (partner), not just to help take care of the house hold, but to help out with small things if you need ( like bring you the drill and bolts you left on the shop floor and forgot to put in the truck. So you wouldn't waste two hours picking everything up to get it yourself ).

    And as stated keeping good records, saving everything, writing it down, save it in your phone etc.

    There is a lot more to it then just raking in the money.
    www.georgesplasmacuttershop.com
    Plasma Cutter and Welder Sales and Repairs--Ebay store
    Tec.Mo. Dealer Consumables for the PT and IPT torch's

  5. #30
    Join Date
    Oct 2015
    Posts
    2,310

    Re: Business owners.

    If your married you have a (partner), not just to help take care of the house hold, but to help out with small things if you need ( like bring you the drill and bolts you left on the shop floor and forgot to put in the truck. So you wouldn't waste two hours picking everything up to get it yourself ).


    This can make you or break you. If you have a mate that is unable or unwilling to help you it will be twice as hard to accomplish anything. If you have a wife that does nothing but complain and will not life a finger to help I suggest you forget about a business.

  6. #31
    Join Date
    Dec 2013
    Location
    Dallas
    Posts
    150

    Re: Business owners.

    I have 2 huge jobs going up in the next couple months. 60k#s of steel in between the 2. Going to be the 2 biggest jobs I've ever done.

    One is a structural job, residential house, 43 columns, 63 beams

    The other is huge outdoor Trellis, 80'x20' and 20'x20'
    Lone Star Mobile Welding, LLC

    2006 Ram 3500
    Lincoln Ranger 250GXT
    Hypertherm 30 Air
    K2000 CAG
    ESAB Rebel 215ic
    Milwaukee mag drill
    Dewalt dry cut saw
    Milwaukee metal cutting circular saw
    Milwaukee M18 Fuel
    Chisholm Lead Reels

  7. #32
    Join Date
    Mar 2011
    Location
    IDAHO
    Posts
    122

    Re: Business owners.

    Quote Originally Posted by Willie B View Post
    I pay my bills by providing electrical expertise. My field is one where every sixth grade graduate believes himself to be my equal. Three people a week on average tell me about their expertise with electricity. The fact is: I have no loyal customers. Repeat customers believe that in some way, I provide more value than others. I did nearly all electrical work for 19 years for one builder. The last summer was insanely busy. I notified him that the second full week of August, I would be going on vacation with my wife, and sons. As the weeks elapsed, he surprised me with one after another jobs not fitting into the schedule. I knocked myself out, but was proud that I kept up with the work load. On the Thursday late in the day I was soon to leave on vacation he announced he was going to gut a house on Sunday. I could have the week to rewire. I reminded him I would be away, (it had often come up in conversation). He chuckled: "Go on vacation when there is no work to do". I responded that my wife is a teacher, this is the last week she can go. These were immensely fussy homeowners, they were not planning to live elsewhere while their house was under construction. Leaving them in a gutted house for a week while no progress was made would be unthinkable. "You'll be here" he responded. That was 12 years ago.

    He hasn't asked me to do a job for him since. NEVER COUNT ON LOYALTY FROM YOUR CUSTOMERS!

    Willie
    Wow what a jacka$$

  8. #33
    Join Date
    May 2018
    Location
    Land of the Toxic Avenger
    Posts
    1,253

    Re: Business owners.

    Been working for myself for over 15 years.

    Biggest fear was coming across a lunatic, but not knowing it until I was either already into the job, or had just finished the job. Fear does eventually come true, but if you can handle it, then it makes you a better contractor down the line. Nutjob ladies can make you crazy.

    Trust your senses. Same nutjob lady called me last year about a door install. Said that I thought it would be best to wait till this year. She said nothing. Thought she was just a nutjob that didn't need me to to the work for her, and found someone else for cheaper.

    about 1.5 months ago, I get an email asking me to proceed with the job.. I go to her house, contract in hand for the stated dollar amount we discussed the year before, and before she signs it, she starts to complain that she felt that the amount I was charging her didn't work out in her head. She couldn't understand why there was extra fees for extra work.... DUH !

    I said to her, "Okay, can I have the contract back, and I'll be on my way. I'm sure you can find a qualified contractor to do the job". She balked, and signed the contract while stating that she couldn't find anyone else to do the job.

    I should trust my SPIDEY Senses by now, and they were tingling, but I didn't think it was gonna go awry. It did,.... luckily, after I got paid.

    She hounded me the entire time on the job. As I was finishing up, she comes to the window and says " I have to leave now, and I don't know when I'm coming back. I have to take my neighbor to the hospital".

    I tell her, I'm finishing up now, can you leave me a check. I'll leave the paperwork behind, and you can sign the invoice, and mail it back to me.

    The next day, I get a Text message. No not a phone call, a text message.

    She says that shes "SOBBING HYSTERICALLY", as the door doesn't look as good as it should.


    After replying back to her "so this is how you're going to address this? " I had to go back and make an adjustment to the door to please her "picky-ness". I went back, did what she asked, and she was all happy again...

    Sobbing hysterically ???? Over a door install ? Really ?

    Hope you don't get cancer, you loon..

    You will, eventually, come across NUTTY PEOPLE. Some of them you can meet on any web forum
    Last edited by T man; 06-03-2018 at 12:45 AM.
    T man.


    15 + years working for myself, and by golly, I still don't know what I want to do when I grow up.

  9. #34
    Join Date
    Dec 2013
    Location
    Mount Tabor VT
    Posts
    5,892

    Re: Business owners.

    In the 1980s a rich New York NY woman who happened to be Jewish, and was very vocal about having the personality of her stereotype. She was LOUD, foul mouthed, pushy, demanding, and a total fool about decisions. She chain smoked cigars.

    Small towns where the highway has moved away from Main street decline. Danby, and adjacent Mount Tabor are little towns of 1200 people combined. Much of the history of the towns involves a man who was a spoiled rich kid in 1865. Mount Tabor had been a ghost town owing to rail road ROWs and a taxpayer revolt as residents refused to pay for a railroad most wouldn't be able to benefit from, but would bring prosperity to Danby. The Civil War policy of taking every able bodied man on the same day, then left Mount Tabor farms with no workers. Only a few returned.

    Ultimately, the Town auctioned the land in a tax seizure. 25 year old Silas Griffith used family money to buy 21,000 acres for the price of $1,100, about $.05 per acre. He stripped the mountain, made many products, lumber, charcoal, bark for tanneries, potash, and others. By his death in 1903, he owned 200,000 acres.

    Annie Rothman fell in love with the man who died 85 years earlier, and set out to own all the buildings he had once owned. Her first decision was to hire the former town drunk as her advisor. He, being a reformed drunk, strongly favored the hiring of other reformed drunks, and addicts. A few sub contractors weren't drunks, but the full time staff of 15 had all been. With a few exceptions, their qualification was limited to recovering from alcoholism. Some of the worst carpentry I've ever seen was done there. One 3000 square foot house she claimed to have spent $1,000,000 renovating, including some of the most overpriced foundation work, fell in the river 24 years later, and was totally destroyed.

    Working for Annie was DIFFICULT. I've said, after Annie, everybody else is easy. My illustration of a sheet metal ceiling in a Victorian great room. The embossed ceiling panels were brought from New York. She wanted a mix of track, recessed, and a huge chandelier. Six times she insisted on a complete rearrangement of the lighting. New panels were ordered, and the copper nails were drilled out to avoid damage to overlapping panels.

    I used to kid her; "Lady, as long as the money holds out, there's no such thing as a problem!" She would respond with an obscenity and walk away.
    An optimist is usually wrong, and when the unexpected happens is unprepared. A pessimist is usually right, when wrong, is delighted, and well prepared.

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