Start a business to hunt more?

[Boarmaster]

I made the decision to take 2 months off in Sept & October so I can explore the Northern MI, MN with a couple of knothead labs at my side. That means I'm likely out 4 months income, as I work to find more contracts for the remainder of the year, and next year. We had the most hectic work year in 20 (super fortunate), and 19 was gangbusters as well. I'm burnt out from 2 years of working 60 hour weeks & hustling for contracts. My biggest dread in taking a sabbatical is that my competitors (99% of which I am on great terms with and we share a lot of workload) will get contracts I want. So even with 2 months off, I'm going to be working on getting more work. If you want to go down the route of owning your own business, @Boarmaster highlights a huge issue: you are always on. If you feel you can handle the above when trying to get away from it all, then you'll never be happy. If you accept that you will never truly be off, then you can adjust your mentality around this, and still enjoy things. For example: Landing a 22" smallmouth while on a conference call


The best money we spend bar none is for our accountant. We've saved tens of thousands of dollars by having competent help. Taxes will bite you in butt easily. Follow the steps, pay your estimates and don't skip a month. Having a $15K tax bill in April is the worst.
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Your point of adjusting your attitude that you will never be off is very true.
When I first started on my own I would get pizzed I was getting bugged while I was out of town. I thought I should be able to disconnect. I would get so aggravated during the Trip. Once I understood I would have to work a small bit while gone to keep things going I expected it and started to enjoy being gone more. I got the hang of it and was even able to be gone more. One thing I do is to do my best to create any burdens on the guys I am with on my hunt that are off of work. I dont let my need to work effect their hunt.

 

[Mallardsx2]

The #1 thing I see people who own their own business not doing is saving for retirement.

Too many of them think that they will just sell their business and live off that when they retire......most are very surprised at retirement age.

 

[Mallardsx2]

For example I know a guy who cuts grass. He says he "makes great money". He spends most of it as soon as he gets it and doesnt count his fuel costs or maintanence against his earnings that he touts.....so ya he might clear 75-100K/year. The guy is in his 60's and has 200K cash in his gun safe. lol He thinks he will retire next year.

And live off of what? 200K and what little social security he will get (because he hardly paid into it) for the next 20 years?

-No pension
-No IRA'S
-No 401K's
-No Stocks

I hate to be the bearer of bad news, but it isn't going to be much of a retirement for him. Hes going to be broke in 5 years....

Meanwhile, a guy who works that crappy job making 40K a year from age 20-65 and puts in 15% of his paycheck into a 401K will likely be living like a king compared to this guy who has been "killing it" all these years.

To own your own business you have to be very dedicated and you need to be saving and investing.

 

[MarvB]

When I was self employed I was too young to think about extra free time or even stopping (or slowing for that matter) to smell the roses. It was about making money and keeping the flow going. Days off meant zero income, a weeks vacation meant someone else could get my contract/bid. I only slowed when weathered out (I was a contract/consulting forester and did primarily USFS and BLM work) and hunting season turned into “go time” before winter truly hit. I think it was a great experience for me back then in many many ways but it most definitely did not result in free of extra time off but I was wired different then. Hell I even bought a small fifth wheel so I could “live” closer to the job sites and spend the dark hours doing my mapping and plotting in comfort... comfort then became 14-15 hour days. My gross was great, my hourly meh.

 

[TheNorthStar]

Recently I heard that it's great owning your own business. You get to work half days all the time and you can even choose which 12 hours to work...

 

[Ben Lamb]

Recently I heard that it's great owning your own business. You get to work half days all the time and you can even choose which 12 hours to work...

Part timers are the worst. Which is why I'm taking an easy gig somewhere else, like, IDK, getting yelled at as a server, or line cook, or septic pump operator.

 

[Mountain Man]

I am just now beginning my own mental exercise thinking about the possibility of starting a small business a few years from now after I transition from the military. There is a big part of me that is excited at the prospect of it, but it would be a big transition regarding income security. I have a BS in Civil Engineering and an MBA so I feel like I have a good foundation from which to springboard from if I choose to. This thread has energized my motivation to research possibilities!

To the OP, I recommend you consider how interested you think you might (or might not) be dealing with the administrative aspects of owning a business. If you dislike problem solving, logistics, customer service, etc., it may be better to remain an employee. If you feel you have the skills (and temperament) to handle those aspects of a business I definitely think you should give it a try. You obviously have the skill set to perform the welding trade. Best of luck to you on your journey!

 

[Brandon270]

If anyone is interested in an update on my decision to start my own business or not, I took the leap in September. I got a small loan for the equipment I needed to be mobile that I didn't already accumulate over the years. I spent many hours dropping off business cards and talking to potential clients. For a solid month I didn't get a single "yes" or phone call and I thought I had made a big mistake. By mid October calls started trickling in and continued to increase week after week. For the last two months of the year I got steady enough that I am working for myself full time now.

Thanks for all the tips/suggestions and support. Will this allow me to hunt and fish more? Maybe, maybe not but I will say I'm really enjoying my work and the feeling of being my own boss. I still have tons to learn on the business side of things, but I'm looking forward to the adventure and see where it takes me.

 

[Mountain Man]

Very interested in the update @Brandon270! I’m stoked for you! I can only imagine the pucker factor you must have experienced in September and am happy the work started rolling in for you. If you haven’t already, I recommend you listen to some podcasts about starting a small business. I wish you luck on your journey and am encouraged by your story!

 

[Hydrophilic]

One of the more successful business owners I know in my field works 5+ days a week and has created more problems for himself than he knows how to handle. He enjoys his reputation in the community and makes great money but his practice ties him down. He’s chained to the chair!

I made the choice to work 3 consecutive days a week as an independent contractor and wouldn’t do it any other way. Quality of life > Quantity of things. I spend my spare time outdoors and have found 4 days off is a good amount of time for short trips. Had I not loved the outdoors so much the time off probably wouldn’t have been so important to me, but there are too many acres of public land to explore.

Good luck on your journey, I hope you make it work for you and get your hunting time in. Just remember…

 

[Pucky Freak]

Way to go, man! Thanks for the update! Glad to hear you stuck with it, and rounded the corner on establishing workflow. I wish you the best on your fledgling enterprise. Here's to taking risks, and reaping the rewards!

 

[Ben Lamb]

Maybe, maybe not but I will say I'm really enjoying my work and the feeling of being my own boss.

There's few other feelings that compare. Congrats on the successful launch!

That sinking feeling you had when nobody called? Yeah, that doesn't go away.

 

[Treeshark]

No it does not! If it does, you’re in trouble.

 

[NDcoyote]

Congratulations, Brandon! Watching your business grow is one heck of an awesome feeling! I'm sure you will do well with it!

 

[GoGriz]

Congrats! If you wouldn’t mind updating this thread with future results occasionally, I know at least I would be interested in following your results and continuing to cheer you on!

 

[Brandon270]

 

[Brandon270]

 

[Treeshark]

Yes! Awesome man, keep it going!

 

[MTGomer]

I do some work for myself. More and more of it lately. I also have a very stable, pretty decently paying full-time corporate job with all of the benefits. The type of job most people would kill for that is very hard to get hired at. As good as it is, it’s getting harder and harder to focus on as I get a taste and a bigger taste of being completely in charge of my own schedule, clients, success, failure etc.

 

[BigHornRam]

This is getting very popular around the mountain states. Would be right up your alley.

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