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Posted

Like many in this business I have started out doing side work. Luckily I had a boss at one time that explained a lot of the buisness side to me. Not at the point I am making as good of money or better in my home shop as I do at my full time job. Right now I am feeling the physical and mental pain of basically working 2plus full time jobs. At what point do you consider yourself successful enough to quit your day job and go fulltime?

 

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Posted

When you are fired from your day job for piss poor performance because you are to busy in the evenings with your side work. Its amazing how fast your side work can get caught up once you are doing it full time.

  • Like 1
Posted

Actually, I am in the same position myself, working full time as an operations Manager. My salary is 50K, cost of living fairly low. With that being said, I have contemplated the timing as well. My conclusion is that it is almost impossible to save enough money to support your family for the 1st 3 months or so, and I say this knowing that we all have full intentions of having more work than we can handle. This is a tricky business, full of ups and downs. If you could find a way to squirrel back at least 5k to act as a safety net, then I say quit your job and go ahead.

 

GOOD LUCK!

 

Jamie

Posted

When you are fired from your day job for piss poor performance because you are to busy in the evenings with your side work. Its amazing how fast your side work can get caught up once you are doing it full time.

 

What he said.

  • Like 1
Posted (edited)

Be prepared. We ate at the food bank when we started. We moved into the shop with our 3 month old in the beggining. Make sure your wife is ok with losing the house and moving into the garage. Or better yet. Go to your local score office and write a business plan. Then you can do it better then i did. Then it goes from your ready when you have 5k saved and quit before your fired to your ready when the bank hands you your start up money.

 

Not saying you cant do it like we did. Or maybe you can do it better and faster then we did. Just sying there is a better way then many of us may have done.

Edited by Handson
  • Like 1
  • 3 months later...
Posted

I took the advice, and read the book "Quitter" by Jon Acuff. I highly recommend this book to anyone thinking of starting any kind of business. In addition, I also recommend reading the book "How rich people think" by Steve Seibold. It is also a game changer. Yesterday was my last day with my company. I worked as an Operations Manager for 9 years, and they decided to relocate the Branch to New Orleans. Thank God we were offered a severance package, or we would be screwed. So wish me luck, cause ready or not, here we go!

Posted

Understand that being able to manage a business is more important than being able to fix cars. Read the Emyth before you start at least then you may have some understanding of the challenge.

I got The Emyth on audiobook so i could listen to it during my 35 minute rural road drive home. I made it a point to listen to the book 3 times through just to make sure I didn't miss something important. I could have never listened to the book and still not have missed anything important. I don't know everything and I don't know a lot of stuff I should know. But I do know this, my impression of the book is that it is way overblown. If you want to buy a franchise, then good, get the book. Because that's all it was about, build your business so you can franchise it. There were only vague references to concepts and simple platitudes in the book. Similar to "Selling the Invisible" except in selling he often contradicted himself. The Emyth certainly was NOT for a small operation, anywhere or in any industry.

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  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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