I finally took the plunge, started my own business today.

[ttoks]

Those that know me on here know that I've been knocking about for a bit, but today I took the plunge into self employment.

It's not going to be 100% out of the gate, I'll still be doing my normal work at the power stations for wages (they're to good to pass up), but I have a sub contracting job lined up that seems to be a nice easy transition, client supplies everything except basic hand tools for an hourly rate on my behalf.

anyone have any advice? Especially those that have followed my post's and have an idea what I'm about.

Cheers all.

[Kelvin]

Congrats, and best of luck on your new venture.

Only advice I can offer (and take it for what you paid for it) is "Be sure to charge enough!" I'm just a hobbyist/hack welder, but I know from my day job in advertising/PR/marketing that usually, the more you charge for something, the more people think it's worth. Funny how that works -- if you wanted to give away a dog to a good home, for example, you'd be more likely to find a good home by charging something for the dog than by giving it away. If people pay for something (or pay more for something), they're more likely to value it more.

Judging from your posts over the years, it looks like you know what you're doing, so don't shortchange yourself, is all I'm saying. Sometimes people try to lowball prices coming out of the gate to get more business, but then clients get all butthurt if you later raise prices to reflect what the work is actually worth. IMHO, you're better off starting "too high" than "too low." You can always reduce prices if you don't get enough work, but raising prices with existing clients is harder, in my experience.

[acourtjester]

In these time with Political movement against Power Stations it may be a good time for you

[John T]

Ttoks,
I don’t have any advice as far as starting your own business but reading your posts/viewing your photographs

I would say you are right qualified to do whatever you want.

I don’t know how it is in your part of the world but The welders that are making the big money are pipeliners and union pipe welders.

Good luck in whatever you decide.

Cheers

[MinnesotaDave]

Wish I could offer advice, but like a lot of guys, you're about 200 times more qualified than I am...and I still hire out to do work whenever I can

Best of luck to you

[walker]

One thing that changes is terminology. When you work for somebody a half day is 4 hours. A small business owners half day is 12 hours. Paid vacation working for somebody else you usually get about 80 hours of paid leave a year. As a small business owner you get about 80 minutes a year and it is unpaid. Aside from some minor changes like that it is a lot of fun.

[Munkul]

Good luck to you! I keep thinking about making the plunge... current job is too good to make it worthwhile.

[ttoks]

Congrats, and best of luck on your new venture.

Only advice I can offer (and take it for what you paid for it) is "Be sure to charge enough!" I'm just a hobbyist/hack welder, but I know from my day job in advertising/PR/marketing that usually, the more you charge for something, the more people think it's worth. Funny how that works -- if you wanted to give away a dog to a good home, for example, you'd be more likely to find a good home by charging something for the dog than by giving it away. If people pay for something (or pay more for something), they're more likely to value it more.

Judging from your posts over the years, it looks like you know what you're doing, so don't shortchange yourself, is all I'm saying. Sometimes people try to lowball prices coming out of the gate to get more business, but then clients get all butthurt if you later raise prices to reflect what the work is actually worth. IMHO, you're better off starting "too high" than "too low." You can always reduce prices if you don't get enough work, but raising prices with existing clients is harder, in my experience.

Sounds like pretty stout advice, I'm starting out charging $70 an hour plus sales tax (10%) and that is for just my time and basic hand tools, the primary contractor supplies everything else, welder, generator, materials, consumables ect, so its a pretty easy job to get started into

Keep in mind that is AUD though.

Ttoks,
I don’t have any advice as far as starting your own business but reading your posts/viewing your photographs

I would say you are right qualified to do whatever you want.

I don’t know how it is in your part of the world but The welders that are making the big money are pipeliners and union pipe welders.

Good luck in whatever you decide.

Cheers

Cheer's mate, I appreciate it, I guess my asking for advice is more on the business side of things, I'm well aware you can be a great tradesman and go bust in a heartbeat from being a terrible businessman, I have no idea how to quote jobs ect (although I don't have to for where im starting as its hourly hire)

Wish I could offer advice, but like a lot of guys, you're about 200 times more qualified than I am...and I still hire out to do work whenever I can

Best of luck to you

One thing that changes is terminology. When you work for somebody a half day is 4 hours. A small business owners half day is 12 hours. Paid vacation working for somebody else you usually get about 80 hours of paid leave a year. As a small business owner you get about 80 minutes a year and it is unpaid. Aside from some minor changes like that it is a lot of fun.

No different to what I have been doing, I've been a casual/contract worker for 10 years, no paid time off, no paid sick leave, days are just time time spent at work though on casual wages.

[ttoks]

In these time with Political movement against Power Stations it may be a good time for you

That is exactly the reason I've finally done it, another local power station is closing in 2028, and the right opportunity came up to dip my toes in without having to fully commit straight up so I'm keeping my options open, I'll still be doing power stations work, and probably other well paying workshop or FIFO work as it comes up, but I think I want to transition over the next few years to working for myself full time.

[Kelvin]

Cheer's mate, I appreciate it, I guess my asking for advice is more on the business side of things, I'm well aware you can be a great tradesman and go bust in a heartbeat from being a terrible businessman, I have no idea how to quote jobs ect (although I don't have to for where im starting as its hourly hire)

My brother was a building contractor for a number of years, and I guess he got burned once too many by bidding jobs, so he eventually started doing "time and materials" instead of bidding jobs whenever he was in doubt. I guess one problem with bidding a job is that the customer inevitably wants to change things halfway through the job and expects the contractor to make the change without changing the price..."Let's use WALNUT instead of pine, and can we make all the joints mortise-and-tenon instead of miters?" If nothing else, if you do bid jobs, give yourself an escape hatch for change-orders!

[walker]

Also, FWIW, I left a great corporate job, making good money, and great benefits, at the gas company, where I had worked for 15 years. My side work was filling every night and weekend when I left. I did not burn any bridges at the gas company and could go back easily if I wanted. What I was thinking at the time was that, at the end of my life, I would have looked back and regretted not striking out on my own and trying making a go of it as a metals contractor. In the 15 years since then I have built a lot of cool sh!t that will long outlast me. I havevnever made less than my gas company job, though I have always worked harder. Overall, my quality of life has been greater being self employed. The most difficult parts are health insurance and retirement planning. I am fortunate to have a wife who is supportive, makes great money, and carries the health insurance.

[ttoks]

Also, FWIW, I left a great corporate job, making good money, and great benefits, at the gas company, where I had worked for 15 years. My side work was filling every night and weekend when I left. I did not burn any bridges at the gas company and could go back easily if I wanted. What I was thinking at the time was that, at the end of my life, I would have looked back and regretted not striking out on my own and trying making a go of it as a metals contractor. In the 15 years since then I have built a lot of cool sh!t that will long outlast me. I havevnever made less than my gas company job, though I have always worked harder. Overall, my quality of life has been greater being self employed. The most difficult parts are health insurance and retirement planning. I am fortunate to have a wife who is supportive, makes great money, and carries the health insurance.

I hear you on having a support wife, mine run's her own business as well, she's been a massive driving force in it, she supports whatever I end up doing as long as I do something haha.

I am lucky enough to live in a country with universal health care though, so at least I don't need to stress about health insurance, retirement is another though, here in Aus when you work for wages they have to pay 10% on top of your hourly rate into superannuation/retirement fund, so I guess i'll just have to do that myself going forward, luckily I already have another 100k in my retirement fund from wage jobs over the last 15 year's.