Results 1 to 12 of 12

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

  1. #1
    Join Date
    Mar 2012
    Location
    Australia
    Posts
    661
    Post Thanks / Like

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

    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.

  2. Likes shovelon liked this post
  3. #2
    Join Date
    Jul 2008
    Posts
    2,907
    Post Thanks / Like

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

    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.

  4. Likes N2 Welding liked this post
  5. #3
    Join Date
    Nov 2009
    Location
    Pensacola , Fla
    Posts
    1,212
    Post Thanks / Like

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

    In these time with Political movement against Power Stations it may be a good time for you
    DIY CNC Plasma table USB BOB Price THC
    Hypertherm 65
    Everlast PowerTig 255 EXT
    Miler 180 Mig
    13" metal lathe
    Mill/ Drill
    ECT, ECT,

  6. Likes N2 Welding liked this post
  7. #4
    Join Date
    Mar 2005
    Location
    Under a Rock
    Posts
    6,112
    Post Thanks / Like

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

    Ttoks,
    I donít 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 donít 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
    Last edited by John T; 04-27-2021 at 02:27 PM.
    Miller 211
    Hypertherm PM 45
    1961 Lincoln Idealarc 250
    HTP 221


    True Wisdom only comes from Pain.

  8. Likes MinnesotaDave liked this post
  9. #5
    Join Date
    Jun 2012
    Location
    Sebeka and Bemidji MN
    Posts
    14,819
    Post Thanks / Like

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

    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
    Dave J.

    Beware of false knowledge; it is more dangerous than ignorance. ~George Bernard Shaw~

    Syncro 350
    Invertec v250-s
    Thermal Arc 161 and 300
    MM210
    Dialarc
    Tried being normal once, didn't take....I think it was a Tuesday.

  10. #6
    Join Date
    Sep 2005
    Location
    Cave Creek AZ
    Posts
    3,209
    Post Thanks / Like

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

    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.

  11. Likes rhunt liked this post
  12. #7
    Join Date
    Jul 2018
    Location
    Cumbria, UK
    Posts
    1,337
    Post Thanks / Like

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

    Good luck to you! I keep thinking about making the plunge... current job is too good to make it worthwhile.
    Murphy's Golden Rule: Whoever has the gold, makes the rules.

  13. #8
    Join Date
    Mar 2012
    Location
    Australia
    Posts
    661
    Post Thanks / Like

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

    Quote Originally Posted by Kelvin View Post
    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.

    Quote Originally Posted by John T View Post
    Ttoks,
    I donít 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 donít 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)

    Quote Originally Posted by MinnesotaDave View Post
    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
    Quote Originally Posted by walker View Post
    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.

  14. #9
    Join Date
    Mar 2012
    Location
    Australia
    Posts
    661
    Post Thanks / Like

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

    Quote Originally Posted by acourtjester View Post
    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.

  15. #10
    Join Date
    Jul 2008
    Posts
    2,907
    Post Thanks / Like

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

    Quote Originally Posted by ttoks View Post
    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!

  16. #11
    Join Date
    Sep 2005
    Location
    Cave Creek AZ
    Posts
    3,209
    Post Thanks / Like

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

    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.

  17. #12
    Join Date
    Mar 2012
    Location
    Australia
    Posts
    661
    Post Thanks / Like

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

    Quote Originally Posted by walker View Post
    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.

  18. Likes snoopdogg, Munkul liked this post

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Page generated in 1,624,259,999.92514 seconds with 14 queries