Career Change?

[GregWeld]

Eric --

I wasn't really trying to give "advice"... rather... I was trying to toss out some ways of thinking... or looking at... how you'd go about a career change (the actual subject). It was more an open discussion.... while I was writing a book on the subject (lol)... and trying to get people to THINK about how they might go about this.

IT is so dang difficult. Easy to say - not easy to do. Suffering and sacrifice is not something many of us are willing to actually DO. Oh... for a week or a month maybe - but 5 years of living in a "shack" in order to start a business with the equity you once had in a very comfortable house... is a whole 'nother can of beans.

I fully understand not wanting to change the status quo.

However, like Michaels story... his town/company is dying... the cards are on the table... Do you do NOTHING? And wait for the train to hit you... or do you get off the track NOW and get started in "whatever" it is that would have a future?

If I worked for GM... or Chrysler... or an auto parts supplier to these companies -- I'd be working right now on something other than that industry. If I was a home builder... I'd now be a remodeler and I'd be trying to buy ****ty houses that are foreclosed on and fixing them up as rentals or re-sales... even if that took "partners"/"investors" ala my LLC idea...

TODD is right when he says there is an opportunity out there somewhere... but you have to look for it -- and then be willing to ACT on it. Remember something -- when the news says there's 15% unemployment -- that means what to you? To me... it means that 85% are still working... What are they doing differently than you? What industry... what job...

A quick aside ---

The other day I read where the owner of PAPA JOHNS pizza bought his old Camaro back - and paid $250K for it. He sold it years before in order to invest in his "pizza biz"... he didn't want to sell his beloved car - but did - in order to keep his pizza dream going... He now was able to pay whatever he wanted to in order to get his car back. It's a symbol to him... of the suffering he endured... that is now a huge success. GOOD FOR HIM!!

I would have just kept the old Camaro... and went to work selling shoes..

:>)

[awr68]

Originally Posted by 70rs

Greg,
I appreciate all of your advice. Thank you.

X2!!!

[awr68]

I guess another thing that is holding me back is that I don't really want to attend night school and miss out on the evenings with my 5 year old son. But at the same time, I would like to be able to pay for his college education when the time comes without stressing about it!

Good stuff guys....let's keep this 'open discussion' going!

[70rs]

I totally get what you are saying. And what Todd said about the opportunities being out there and having to chase them down.

I see opportunities. A lot of them. And I am going after them.
If I fail, I will just have to try again.

Life is too short to sit on my ass and do nothing. Waiting for something to fall in my lap. I have never been that way and refuse to become that guy.

[70rs]

Originally Posted by awr68

I guess another thing that is holding me back is that I don't really want to attend night school and miss out on the evenings with my 5 year old son. But at the same time, I would like to be able to pay for his college education when the time comes without stressing about it!

Good stuff guys....let's keep this 'open discussion' going!

I am in the same boat Tony. I just can not stand to miss the time with my son. BUT...do I sacrifice a little time now so he has a better shot at his own life later (like going to college) or do I just let it ride and hope for the best?

I would rather give up the time now to help ensure he has every opportunity he could possibly want later in his life.

If I try something on my own now and blow it I still have time to recover and try again before that tuition bill comes due.

[GregWeld]

Okay --- Here's another "thought" or scenario to toss about.

Let's take the guy that started the capenter tools / nails truck/van.

He gets a backer or he borrows against his house - or he sells his boat and buys this "van" and 25K worth of inventory. He knows what inventory to buy - because he worked in the industry - so understands the wants and needs of his prospective customers.

Rule #1: YOU'VE GOT TO KNOW YOUR MARKET!

Now... He starts out with a lot of "risk". He's got inventory - he's got a van - he's got overhead in insurance... fuel... time... and payments to make.

Rule # 2: He is WILLING to take the risk and he is willing to lose it all and start over.

Okay -- so he does his homework and figures out a economical "route" from job site to job site. He is going to have to spend a LOT of time stopping and talking to the work guys. He needs to schedule this when THEY can take the time - or he has to be willing to WAIT a half hour or so - so that he's not disturbing the production. TIME IS MONEY.. but he is also making an INVESTMENT with his time at this point.

So the guys start to visit his truck -- he has the right stuff @ the right price and he has it NOW... if he comes back on FRIDAY (Payday) they'd buy "X" hammer... or that new compressor... Could he take payments? Maybe $50 a week?

Lesson: There are people out there called FACTORS. They will buy your "receivable" from you. There are rules and details here I'll not explain - but you'd need to hook up with the FACTOR FIRST to see what they do and what they want/need from you. FACTORS pay you for your invoice - and then you collect the money for them - or they might collect it themselves - but they pay you up front for the invoice - giving you the money you need to replenish your inventory. There is a COST to this -- but it can work out very well. You can sell your stuff on "time" - so getting sales you might not otherwise get... and establish that "supplier customer" relationship.

You have to come around on the route every "X" day... and at "X" time when possible... you have to be RELIABLE. This way - when customer A needs nails -- he knows you're going to be there on X day... If you don't show - he has to get his nails somewhere else. You also should be "on call" -- be available to deliver X goods any time at a moments notice -- and BE HAPPY TO DO THAT! Even if it means you might actually lose money on the transaction but you KEEP a customer! You might have to drive all the way across town to get two $30 hammers... which makes you up at 5:30 AM the next day to get them to the guy before he starts work... OH WELL... that's what you do!

Are you going to get rich? Probably not... but if you're really clever - and your business is well run... you might end up with two trucks - and then 3 and then expand to the next town... and you might add Ladders to your mix... and you might end up in the office instead of driving and delivering... and you might be 50 before that can happen... and you might be carrying your own receivables instead of selling to a factor.. and your kid is the warehouse manager... so all's good.

[GregWeld]

Okay -- here's another....

RAT RODS are HOT...

You might - if you're clever and can think in those terms - start building RAT RODS in your spare time. The welding doesn't get smoothed - you can paint with primer... you can use swap meet parts bought on the cheap or given to you..

Now -- you might only make $1500 bucks on a 12K sale.... but these don't take years to build - and you don't have much invested... you can do this with your eyes closed! You can have FUN sipping beer with the boys coming up with the next whacked out 'idea' to do....

In the meantime - you're using the 'extra' money you've made - to buy tools for a "real car" -- or for parts... or to help defray the rent on your very own personal "shed".....

Is this how you want to use your considerable skills? No... but it's a way to help you get supported while doing what you REALLY want to do.

The other thing is -- if you have a customer paying for his own car to be done.... MAYBE -- if he's really happy with your work... he'd entertain building a car "on spec" with you. Him being the banker - you being the builder... It's just an "investment" -- a "spec" car... but building cars like that can get you noticed - or get you another high end customer... or any customer for that matter....

Look at the relationship between Mark Stielow and Charley.... Mark knows (I'm using an example here) Charley is "interested" in almost anything he would build... I don't know this -- I'm just using a name you all know -- for an example. I'm sure this relationship has been built over many years... So Mark wants to build some whacked out over the top killer Pro car.. So he approaches Charley with his ideas on paper - he has a rendering... he has a list of major components... he has a cost base. He and Charley modify this a bit - and Charley sets up a "line of credit" Mark can draw on (meeting certain requirements in order to draw - approved by Charley) to do the build... and when it's finished - They've agreed in advance that MARK gets the credit and gets to take the car on tour to "X" shows... and then Charley takes delivery at a pre-determined price. Mark gets to build what he wants - has fun - learns - and gains valuable name recognition/reputation... Charley gets a kick ass build that already has value built in - and has fun watching it being built - and better yet - gets the end result in the process... for a bargain price - because Mark never factored in all the hours it took to build. They both got what they wanted.

Sorry Mark and Charley -- I took your names and used it them without permission. This is only a made up example. I have no idea what or how you do what you do... I'm just tossing out ideas for others here. I hope I have not offended you.

[tones2SS]

Actually did some searching of schools in the area which have medical certification/training/degrees. I spoke with one school today and am getting ready to call another tomorrow morning. (I can only send out so many resumes keeping my fingers crossed hoping someone will hire me. It bothers me. Can't take it any more.)
I was working in the print industry. An electronic prepress operator to be exact. It's not so much that the internet is taking over, it's that print sales are weak, most in part because the advertising that goes into the print, (i.e. magazines/newspaper ads), that are suffering, thus causing print shops to do lay offs/close doors. People are not spending money on items, therefor no need to advertise, therefor no need to print. Vicious circle!!
I'm glad I posted this question!! Greg, you have some great insight. We think a like!!

[GregWeld]

Yeah Tonnes... I have a buddy here with a print shop - business isn't exactly "robust" right now that's for sure.

He's also had to reinvest heavily into new capabilities -- some big azz machine that does "giclees" or something like that? It can print big "banners" that are more like real oil paintings... anyway - that's a whole new biz opportunity over the fliers he was doing...

[tones2SS]

Originally Posted by GregWeld

Yeah Tonnes... I have a buddy here with a print shop - business isn't exactly "robust" right now that's for sure.

He's also had to reinvest heavily into new capabilities -- some big azz machine that does "giclees" or something like that? It can print big "banners" that are more like real oil paintings... anyway - that's a whole new biz opportunity over the fliers he was doing...

Yeah, times are tough everywhere, not just the print shops unfortunately. But, I hope things turn around for your friend. I hate to see anyone lose their job/livelihood because of the this mess. How big is his shop?
Yeah, they have a new "technology" now with digital printing or called large format printing. We had a separate department for that where I had worked.
It's just a shame. To think that I actually LOVED going to work, didn't mind getting up @ 5 AM every morning to get there @ 6:30 AM, work all day and have fun with the other guys while getting paid for it all and be out of there around 3 PM!!
(The shop was making a million dollars in sales some months last year!! We were only a shop of about 90 employees. I think we were rated like # 279 out of the 500 top print shops in the US.)