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 Getting Cut Loose

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PostSubject: Getting Cut Loose   Sat Mar 03, 2012 10:33 pm

No... not getting fired, but getting cut loose.

I've always been an employee. Currently, I work as the only employee at a small widows, door, cabinet, etc... retail outlet. But my boss wants to retire. Her daughter is good friends with a certain person who is looking to buy a business, so she naturally suggested that they talk. But I would definitely not want to work for this certain person.

So I have three choices:

1) Buy the business. (I have the right of first refusal, since I have been working there for seven years).

2) Work for this certain person

3) Find another job.

Of the three, option number one is by far the most preferable, but it's a big step for me. She is only asking $50,000, and willing to carry the loan as well as rent me the building, so no real worries. I think the business generates enough for me to continue to pay myself and make those payments, it's just that I'm not used to all that responsibility falling on me. I practically run the business now as it is, but still... please pray for me.
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PostSubject: Re: Getting Cut Loose   Sun Mar 04, 2012 8:48 am

Praying, bro.

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PostSubject: Re: Getting Cut Loose   Mon Mar 05, 2012 10:47 am

Thanks. Smile
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PostSubject: Re: Getting Cut Loose   Mon Mar 05, 2012 4:50 pm

Definitely praying for you, and I can certainly understand what you are going through.

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PostSubject: Re: Getting Cut Loose   Mon Mar 05, 2012 7:08 pm

Nick, I think you should take the risk. If it is work you enjoy, then why not? You already said that you practically run it now. Is fear holding you back?

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PostSubject: Re: Getting Cut Loose   Mon Mar 05, 2012 9:08 pm

Yeah, basically. I've just always been an employee, not a boss. It's like when Wayne walked off the set and Garth had to do the show all by himself.
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PostSubject: Re: Getting Cut Loose   Tue Mar 06, 2012 5:05 pm

Tall Tyrion wrote:
Yeah, basically. I've just always been an employee, not a boss. It's like when Wayne walked off the set and Garth had to do the show all by himself.

Running into a similar issue myself. I was just offered a position with one of the partners at my recently defunct firm. Instead of being an regular employee, I would be a contract employee. That means I will only get paid if I have billable work to do, and then assuming the client actually pays (in essence I would be an associate). I could make more money (depending on how much work I can bring in and finish), but I could make less. It is much easier (and less stress) just being an employee.

Still praying for you TT

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PostSubject: Re: Getting Cut Loose   Tue Mar 06, 2012 11:18 pm

I understand dude... it's an opportunity for you, but less stability. More of a "sink or swim" situation. It's difficult, but I think God might be asking us both to grow. I'm thinking that both of us should do this together. I'll be praying for you, too...
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PostSubject: Re: Getting Cut Loose   Wed Mar 07, 2012 5:28 pm

Nick, I pray for you that God will show you what His wil is in this.
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PostSubject: Re: Getting Cut Loose   Wed Mar 07, 2012 8:43 pm

I'm certainly going to do it TT. I will be praying that God helps us both on this new challenge. I don't know about you but I find myself getting a little sick to my stomach on occasion thinking about all the new "responsibilities" this brings. I probably have it a little easier that you in the aspect that I won't be totally alone. However, I'm not at all used to trying to bill and collect money from clients either. Are you going to need to hire any employees are can you do it all yourself?

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PostSubject: Re: Getting Cut Loose   Thu Mar 08, 2012 1:42 am

Dunno, really. I can do all of the selling and ordering no problem. It's the paperwork and the government I worry about, but that's why CPAs were invented...

Good for you on stepping out there. God bless you. I'm sure you will be stretched a bit, but it will be good.
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PostSubject: Re: Getting Cut Loose   Thu Mar 08, 2012 10:07 am

Nick and Gary I have you both in my prayers.
It's a big step to take for you both.
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PostSubject: Re: Getting Cut Loose   Thu Mar 08, 2012 4:59 pm

Thanks sister, I am sure we will need all the prayers we can get.

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PostSubject: Re: Getting Cut Loose   Thu Mar 08, 2012 9:53 pm

Yes... thanks very much. Smile
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PostSubject: Re: Getting Cut Loose   Fri Apr 13, 2012 12:24 am

And in the past few weeks, We have lost our Andersen dealership and our main door supplier has declared bankruptcy. Welcome to Obama's recovery.
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PostSubject: Re: Getting Cut Loose   Fri Apr 13, 2012 8:58 am

That's not good Tall Tyrion.
Now you have to find an other dealer?
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PostSubject: Re: Getting Cut Loose   Fri Apr 13, 2012 11:25 am

Tall Tyrion wrote:
And in the past few weeks, We have lost our Andersen dealership and our main door supplier has declared bankruptcy. Welcome to Obama's recovery.

Oh no, very sad to hear about that. (I said more than once that the demise of my old company was some of the worst Obama change I had the displeasure to try and live through).

Any ideas as to what you are going to do? I'm still praying for you brother.

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PostSubject: Re: Getting Cut Loose   Sat Apr 14, 2012 12:42 am

Well... the Andersen thing is a dead issue. And it's probably for the best.

But I'm not too sure on the door thing. We've repped Therma-Tru doors for the past twelve years. We'd like to continue to sell them, but we have to find a supplier. We've also lost all interior doors and storm doors. It's like a third of our sales were just ripped out from under our feet. I hope we can find another supplier, but we're kind of off the beaten path...
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PostSubject: Re: Getting Cut Loose   Sat Apr 14, 2012 12:28 pm

I completely understand.
I had a similar problem with my new start-up company. Sadly my boss isn't licensed in Alaska or California (one of the old partners was) and I have had to give up on 3 jobs in the last 3 weeks because they were from one of those states. About 25% to 30% of my work last year was in those two states. Sounds like we both will have to do some serious trusting in God to bring us the clients/customers.

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PostSubject: Re: Getting Cut Loose   Sat Apr 14, 2012 1:28 pm

That is bad news Tall Tyrion.

I hope that God will show you a supplier of doors.
I will say a prayer for you both.
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PostSubject: Re: Getting Cut Loose   Sat Apr 14, 2012 6:10 pm

What would be nice is to find someone locally what wants to hang doors. Then we could just buy the slabs and do it ourselves.
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PostSubject: Re: Getting Cut Loose   Sun Apr 15, 2012 7:15 am

Something to pray for.
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PostSubject: Re: Getting Cut Loose   Sat Apr 21, 2012 9:24 am

Staybrite wrote:
... serious trusting in God to bring us the clients/customers.
I'd say it should be trust in FINDING more clients/customers. I'm in the same boat here. Why should expect God to drop clients into my lap if I'm not putting out the effort to get them?

Being your own boss is liberating but it is a lot of responsibility. I much prefer the freedom. Since I only deal with service (software), I don't have to deal with sales tax, but you do have to manage your own health insurance and know how to fill out the Sch C and related documents. TT, if you'll have to hire an employee to take your spot, that's another can of worms I haven't had to deal with. As you said earlier, find a CPA. If you're good with numbers and such and have the time, you'll only need them the first year. I do all my own paperwork now.

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PostSubject: Re: Getting Cut Loose   Sat Apr 21, 2012 12:26 pm

topshot rhit wrote:
Staybrite wrote:
... serious trusting in God to bring us the clients/customers.
I'd say it should be trust in FINDING more clients/customers. I'm in the same boat here. Why should expect God to drop clients into my lap if I'm not putting out the effort to get them?

Being your own boss is liberating but it is a lot of responsibility. I much prefer the freedom. Since I only deal with service (software), I don't have to deal with sales tax, but you do have to manage your own health insurance and know how to fill out the Sch C and related documents. TT, if you'll have to hire an employee to take your spot, that's another can of worms I haven't had to deal with. As you said earlier, find a CPA. If you're good with numbers and such and have the time, you'll only need them the first year. I do all my own paperwork now.

Oh believe me I am certainly doing what I can to meet God half way on this one, in the last 3 weeks I have talked to over 20 clients (visting 3) and have bid on 4 different jobs! It is a lot of extra work (non-billable work), but it does feel good to put the effort towards something you have a more vested interest in.
Doing the taxes and assorted paper work is certainly something I'm not looking forward to.

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PostSubject: Re: Getting Cut Loose   Sun Apr 22, 2012 6:41 pm

Health insurance? What's that? Laughing
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