Working for yourself

[Plenum]

most people on this forum would either be working for a wage or on a salary. ie they work for an employer who has fixed office hours etc.

but there's a few people here who work for themselves, right? either freelancing for projects ... or running their own business.

how did you make that transition, and would you ever go back?

and for people who are stuck in a job, it might seem like a golden answer to be your own boss, but I know that the hours involved can actually be more than working for a job, and the self-responsibility and self-autonomy is much more increased, although, ultimately, it must be truly rewarding to be able to generate your own income and value, and be your own 'man'. (or 'woman').

self-employment definitely seems to be a very viable option if you have some coding skills with something like Python or Ruby.

[Wai]

but there's a few people here who work for themselves, right? either freelancing for projects ... or running their own business.

how did you make that transition, and would you ever go back?

Why did I make the transition? Because I was retrenched three times even though I was working with top Fortune 500 companies. When you are retrenched three times, you will come to the same conclusion I did years ago: The only person who cares about me is me.

How did I make the transition? I learned as much as I could. I saved as much money as I could and I took the plunge by simply resigning from my last job and starting my business the next day.

If you want to start your own business, please do not do it the way I did. Start your own business and work on it part-time while you are still working for the corporates, if you can. Only when your part-time business becomes more stable, then you can leave the corporates and work on your business full-time. The most crucial time for a small business is the first two years when you have very few customers. You will need money to tie you over these two years as you build your business.

Will I go back? During the early years, there were moments that I wanted to go back as running a business was really tough. Nowadays, with my business more established, there are moments that I regretted not starting my own business earlier.

One benefit that I never expected is becoming more aware of human nature, psychology, and honesty and fair play. When times are bad, I will do some self-reflection on why things are not as good. There is always be a reason: bad service, lousy products, quality standards are slipping, bluffing the customers, unfairness and dishonesty towards staff and customers. And once I correct these bad practices and treat customers with respect and honesty, they will be back. It is like heaven is also noticing and you will have their support. Perhaps they do!

Incidentally, it was during my more difficult years running my business that I discovered “The Diamond Sutra”, "Seth" and “The Law of One”.

[Plenum]

wow! thanks Wai! that's really insightful.

nothing speaks like experience

[Melissa]

I'm going to give it a go! Already found the perfect location to set up a 'business'. It's a small modern farmhouse with two potential guesthouses. Or one guesthouse and a studio for artsyfartsy stuff, or a guesthouse and a tiny restaurant, not that I'm much of a cook but I've found someone in the area who loves organic cooking but doesn't have any room for guests. Anyway, It's quiet, green, flowery and it has a glorious pond. Had a meeting with the current owner today for a viewing and I instantly fell in love with the whole scenery, plus, the place just breathes tranquility. Yay.

[Wai]

I'm going to give it a go! Already found the perfect location to set up a 'business'. It's a small modern farmhouse with two potential guesthouses. Or one guesthouse and a studio for artsyfartsy stuff, or a guesthouse and a tiny restaurant, not that I'm much of a cook but I've found someone in the area who loves organic cooking but doesn't have any room for guests. Anyway, It's quiet, green, flowery and it has a glorious pond. Had a meeting with the current owner today for a viewing and I instantly fell in love with the whole scenery, plus, the place just breathes tranquility. Yay.

Good luck, Melissa, and all the very best in your new venture. PM me if you need any suggestions. I know nothing about running a guesthouse or even simple cooking, but I went through the mill and I am aware of the "loneliness" and the "fear" of going on your own. And don't worry about losing your friends because new ones will always turn up.

[Melissa]

Thanks Wai, when I drove up to the house yesterday I got really nervous. Realistically speaking there is no way I can afford it at the moment. But I couldn't/can't afford the rent of my current house either, still living here though. I've always wanted to live close to nature, like a personal sanctuary with enough room to share. Last week I met a couple who serve drinks, cakes & ice cream(homemade!) in their fairy tale-like garden, that also seems like a fantastic idea. Also met an artist who makes gorgeous glass works which can be placed in the garden all year round. Well, ideas aplenty, it would be so awesome if this works out. lol. Not too worried about losing friends but excited about meeting other people, which is a bit 'new' for me. Cheers to new ventures and thanks for the kind offering, I'll find ya for advice if need be.