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Thread: Thinking of Going it alone

  1. #41
    tell me, is this sellable..... OddDog's Avatar
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    Razor, I think the best advice I have read here was someone saying that they waited until a particular job came along that could not be combined with a full time job. That strikes me as great advice.

  2. #42
    Moderator RazoRmedia's Avatar
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    yes true, theres also no way I am just gonna 'dive in the deep end' so to speak so when I do make the move, I'll be getting a part time job too just till I steady myself.

    Thnaks to everyone to contributing to this thread, the boardroom has become an amazing wealth of knowledge, cheers.

  3. #43
    Moderator enpstudios's Avatar
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    It's hard as hell. But it's nice not working for any one !!
    [Edited by estudioworks on 04-02-2002 at 12:02 PM]

  4. #44
    Modding with Class JabezStone's Avatar
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    Originally posted by RazoRmedia
    ...I'll be getting a part time job too just till I steady myself...
    I don't know if this is possible in your case, but maybe the company you are working for now would be willing to cut your hours down to part-time for a while to see if you can get started?

  5. #45
    Moderator RazoRmedia's Avatar
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    Originally posted by JabezStone
    Originally posted by RazoRmedia
    ...I'll be getting a part time job too just till I steady myself...
    I don't know if this is possible in your case, but maybe the company you are working for now would be willing to cut your hours down to part-time for a while to see if you can get started?
    its doubtful Jay, its a good idea but not feasible in this case

  6. #46
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    worry about

    Well phonytony there are a multitude of sayings that I can use to answer you; I'll use just a couple. This one comes from skiing, “If you’re not falling, you’re not learning.” If you’re going to stick with what you know and never step out of your comfort zone you’re not going to get very far. The only crime in failing at something is to not learn from that failure. Failure is only a perspective.

    I’m not a huge sports fanatic but the other quote that comes to mind is from Wayne Gretzski, “you’ll miss every shot you don’t take”. Being concerned with how many failures misses the point entirely. If Edison had worried about failure we might still live in the dark. While you may sit on the outside and make an unqualified claim that closing down a company or venture is a failure or somehow constitutes something to worry about, I happen to have gained tremendous growth and skill from all of my experiences, good and bad.

    Let me ask you a question, what measurement would constitute a successful company for you? Longevity? Gross revenues? The number of employees? The impact on people’s lives? The company that I shut down in 1999 was incorporated in 1969. It was started part time and the products were produced in my basement. After 12 years of moderate growth we greatly expanded our product line. Over the next 18 years we developed and installed learning environments throughout the US and Canada. Our environments touched the lives of tens of thousands of young people. The gross sales per year were in the tens of millions, and we employed over 60 people.

    During this time I started a few other ventures, some achieved the anticipated results, others didn’t. And I have been involved with a couple of others since 1999 including the business I am currently building.

    Yes phonytony any fool can start a company, so it should be no problem for you. :-) But the skill is not in keeping a company going, as you say, it is much more intricate than that. The skill is also in knowing how and when to shut down a company. How to take and manage risk, how to challenge yourself and how to continually learn from your experiences.

    Grief and responsibility are not things to be afraid of, what you should fear is when that nice salaried job of yours is suddenly gone and you can’t land the next one right away. There is a book called “Rich Dad Poor Dad”, it’s a good easy book that explains some basic concepts that just might open your eyes, things you didn’t learn in school.

    Good luck to you,

  7. #47
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    Sometimes, you have no choice...

    I worked for a big (safe) company for 12 years. Here is what I learned there:

    1. You will not be paid one cent more than the minimum amount that will keep you from quitting.

    2. If you are very good at what you do, you will never be promoted into management.

    If this is how you want to spend your career, stay at your safe job.

    I decided to 'take a chance' by working for a small start-up. There I learned another hard lesson:

    3. You can trust your business partner to share losses with you, but gains will be shared only if you have a rock solid written agreement, and a very good lawyer.

    So I ended up walking away. Then I had a decision to make: Go back into someone else's cubicle or take the plunge and go independent. I had only 1 and 1/2 months mortgage payments in the bank, a wife (who does not work), AND two kids.

    Perhaps I was lucky. Or maybe all that God was waiting for was for me to put all of my faith and trust in Him to provide, but within two months ALL of my available billable hours were BOOKED, and my phone kept ringing (mostly head hunters, of course.) Now I shop out far more work than I do myself. I finally got the management position I always wanted, I make more money than any sane person would ever be willing to pay me on salary, and I work at home in my pajamas.

    Your mileage may vary. For me, it was the scariest thing I ever did. And it was also one of the BEST decisions I ever made.


  8. #48
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    So ya wanna be a freelancer??
    My observations as a student/designer-in-a-small-business/wannabe-freelancer:
    * If you're not a people person...become one!
    * Customer service is everything.
    * Every opportunity is a networking opportunity.
    * If you're stuck...get help (thats what ur network's for).
    * Be prepared for late nights.
    * Organisation, Organisation, Organisation...1 more thing...Organisation
    * Have a plan.
    * Get a good accountant.
    * Don't do deals (Unless it is a lot better for you than it is for them)
    * Do EVERYTHING legit.
    * Online games are EVIL

    Good luck. Wish me luck too!!

  9. #49
    You'd better be damn good.

  10. #50
    Just kidding, I don't know much. I just graduated from college and have several projects in the mix. It seems great right now. I get new project proposals every week, but I am not sure about what to expect in the future.

    Cheers.

  11. #51
    Moderator RazoRmedia's Avatar
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    Re: Sometimes, you have no choice...

    Originally posted by dlowerre
    ...and I work at home in my pajamas.
    right thats it, thats pushed me to do it, ha ha

    Just to clarify, I already freelance as well as my job, I have good client relationships, I'm just thinking about quitting my full time position to start up on my own.

  12. #52
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    Re: Re: Sometimes, you have no choice...

    I'm in a similar situation, thanks to everyone who posted on this thread it's been invaluable!

  13. #53
    Flash Git choclate vanilla's Avatar
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    When my friend and I decided to try to go it alone we started by networking as much as possible with other freelancers offering slightly different services. This way if you find some work that is not really your area you can pass it on and vis-versa. Also you take your cut, if they end up doing the work. You will also have to pay out a cut to any one that finds you work but.......

    Without a doubt the biggest problem was not having a saleman. We have since stopped working as we were as I decided to go back to university but the experience was invaluable. I think I might try for a permanent job when I finish uni but once I have networked some more I will definitly go it alone again.

    I have the advantage of not having any kinds of ties or responsibilies for family etc. Maybe in a few years this will change and so might my attitude but until then I say go for it and try it.

    Better to have loved and lost than never loved at all.

  14. #54
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    I was sacked. And that was the push I needed. My division was shut down and I had to go with it (which was unfortunate for my employer since I had a great contract with a client). That client also made it possible for me to start my own business.

    Haven't been doing it for more than 6 months. And I don't think that I'll be doing it forever. But it really isn't such a big step. Authorities and professionals can help you with the hard, boring stuff. It's worth paying someone to do your taxes for you. You get peace of mind and a good chance of getting the money spent back since you probably wouldn't be able to get the tax reductions a professional could.

    My point I guess is: take it serious but don't think it's the end of your life as you know it. Change is good. Scary yes - but good!

    There are lots of upsides to going at it alone. And when the downsides get overwhelming - try something else. It's almost as easy as that

  15. #55
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    [QUOTE]Originally posted by smartalig
    [B]"
    There are many valid points in this thread.
    Seeing as how I am in the same boat as many of you, (working full-time, free lancing on the side, and dreaming of taking the leap) I have been doing some research.
    A great book I read was called "The perfect business". You can find it here:
    http://www.amazon.com/exec/obidos/AS...382956-8078459
    "


    Thanks to smartalig for the recommendation!

    I bought the book on your recommendation. I am in the process of reading it, and highly recommend it to anybody that is considering freelancing vs. employment. I have done both, and each has its tradeoffs.

    The book is an excellent insight into the world of self employment. It is a jungle, but to quote the book "Like the tiger in the jungle, you know that freedom and success are yours if you do the right things. When was the last time you saw a tiger trying to get into a zoo?"

    So two thumbs up (so far) on this book! I would be interested to hear from others who have read this book, and of other book recommendations.

    El Mwucko

  16. #56
    FK Photoshop Slut rugbystud's Avatar
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    Re: Going freelance

    Originally posted by dubletap
    It's important to understand that if you work for someone else you're only helping to make them wealthy. Your goal should always be to work for yourself.
    Gr8 piece of advice Scott!

  17. #57
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    Quite a tradeoff in my opinion...

    The self-employed & self-made lifestyle gets easier the more organized and experience you become.

    Many just want what they assume is freedom, rather than realizing that there is an increased responsibility when you are on your own.

    It's a horrible bellcurve..but one that only gets easier if you work at it.

    So determine which work produces the better future for you personally.

    40+ hours as a full-time employee
    60+ hours as a self-employed owner

    Compensation is not limited to $$$..time can be very valuable.





  18. #58
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    This has been a great thread...

    ..I think I'm going to get a better accountant..

    I hear Arthur Anderson has some free time...

  19. #59
    tell me, is this sellable..... OddDog's Avatar
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    lol

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