Have any of you blokes have gone into business for yourselves and done it for a few years? And if so, did you regret it or prefer it?

I have worked for myself for the past 25years there are positives and negatives and will vary dependent on which industry you are going into make sure you have a mentor or experienced person you can discuss things with and will give you honest unbiased adviceRead the book "Profit first" before you start as most people working for themselves pay themselves last and this book will make you start off on the right foot - cheap on kindlepositives You have increased flexibility -but will also work much longer hours ( this can improve or reduce your surf time)you can make decisions on the direction of the business and then "live or die by those decisions
Pride in creating something yourself
Negativesstaff staff staff there are some loyal employees out there but there is also a large amount who will always prioritize themselves first no matter how hard you try paperwork and compliance will take up large percentage of time and distract you from doing what you set out to do unless you are very good financially get assistance from the beginning -most people work for themselves because they have a skill or passion for something if this skill was the financial aspect - they would have become accountants Take the plunge enjoy the journey
dont overcommit financially with leases and set up costs
be realistic about growth
set a strict timeline on staying in business- if it doesnt go as planned move on dont keep losing money If it fails that doesnt define you but if you keep losing money it will effect you Good luck

LOVED IT! I travelled to different sites to work - had a home office for follow up computer work and plan printing. The thing is that you can pick your time to surf ( to some extent ) but this might mean working thru the weekend or from 10 till 12 at night after the family have gone to bed. If you are fair dinkum the work doesn't go away it just fits around good surf! SEE AN ACCOUNTANT! for leasing, for purchase, for info on insurance brokers and if you are sub contracting remember to work out your hourly rate to include - super, long service, holidays and sickies. Your hourly rate as a sub contractor is not even remotely the same as your hourly rate as a wage earner - do not make this mistake! Steve

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dutchy2464 said..
I have worked for myself for the past 25years there are positives and negatives and will vary dependent on which industry you are going into make sure you have a mentor or experienced person you can discuss things with and will give you honest unbiased adviceRead the book "Profit first" before you start as most people working for themselves pay themselves last and this book will make you start off on the right foot - cheap on kindlepositives You have increased flexibility -but will also work much longer hours ( this can improve or reduce your surf time)you can make decisions on the direction of the business and then "live or die by those decisions
Pride in creating something yourself
Negativesstaff staff staff there are some loyal employees out there but there is also a large amount who will always prioritize themselves first no matter how hard you try paperwork and compliance will take up large percentage of time and distract you from doing what you set out to do unless you are very good financially get assistance from the beginning -most people work for themselves because they have a skill or passion for something if this skill was the financial aspect - they would have become accountants Take the plunge enjoy the journey
dont overcommit financially with leases and set up costs
be realistic about growth
set a strict timeline on staying in business- if it doesnt go as planned move on dont keep losing money If it fails that doesnt define you but if you keep losing money it will effect you Good luck

Thanks for the response answered alot of questions.

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stehar said..
LOVED IT! I travelled to different sites to work - had a home office for follow up computer work and plan printing. The thing is that you can pick your time to surf ( to some extent ) but this might mean working thru the weekend or from 10 till 12 at night after the family have gone to bed. If you are fair dinkum the work doesn't go away it just fits around good surf! SEE AN ACCOUNTANT! for leasing, for purchase, for info on insurance brokers and if you are sub contracting remember to work out your hourly rate to include - super, long service, holidays and sickies. Your hourly rate as a sub contractor is not even remotely the same as your hourly rate as a wage earner - do not make this mistake! Steve

Thanks for the response answered alot of questions also. I was worried going out on my own would cost me surfing time but if I could surf, I'd be happy to work night and day, weekends around that.

I've been working for myself for 36 years. No regrets at all. The best advice is to work where you live and surf, so there is no loss of time that way!
Be organized, book whatever you've done of your time and as Stehar rightly said " SEE AN ACCOUNTANT! for leasing, for purchase, for info on insurance brokers and if you are subcontracting, remember to work out your hourly rate to include - super, long service, holidays and sickies. Your hourly rate as a subcontractor is not even remotely the same as your hourly rate as a wage earner - do not make this mistake! Steve
Can be the energy left over the years could be your own limit of surfing. Go for it!