My business vs. my full time job

['putertutor]

My business is growing, but it is not yet strong enough to replace my full time job. But it's getting close. It's getting so that it is difficult to balance both jobs, and I am at the point where I feel I have to start seriously looking at what I want to do. The problem is my full time job is also a passion of mine.

I work at a sort of youth home for young men dealing with addiction. It is, without a doubt, the most fulfilling thing I have ever done, and most definitely has a greater impact on this world, or at least the young men we help, than anything else I have ever done. I pretty much fell into this line of work, but clearly it has grown on me.

Still, I also feel strongly about my computer repair business and truly enjoy what I do. It is just plain rewarding to have people honestly thank me for doing good, quality work and not band-aiding every job that comes along (which was, apparently, what the other guy did before he retired). I am gaining a positive reputation and don't want to leave my customers in a lurch, without anyplace local to get their computers serviced, which is what would happen if I shuttered my shop doors.

I can handle the business I have right now, but too much more and I'm not sure I would be providing what I would consider great turn around times or the level of attention I might expect as a customer. I'm just not sure how to move forward. Arrrggghhhhhhh!!!

More brainpower than what my low-voltage system can muster is needed. Any advice?

 

[Paul Rodgers]

Maybe transition to part time at your full time job?

 

[SilverLeaf]

Honestly, I'd keep doing both. If your tech work becomes too overwhelming, just raise you prices. That way you can keep the work at a manageable level and be well compensated for it as well.

 

[ComputerRepairTech]

Only you have the information to make that call. One thing to consider is how you currently get clients. Is that method likely to take a dive at some point? etc etc.

 

[OCWI]

Honestly, I'd keep doing both. If your tech work becomes too overwhelming, just raise you prices. That way you can keep the work at a manageable level and be well compensated for it as well.

100% Agree w/ silverleaf on this one. i dont think im the only one here but the biggest mistake i made starting off was doing it at very low prices under the assumption that price would be my competative edge. To my massive surprise it had the opposite effect.

 

[Martyn]

It's a difficult choice for you because you actually like doing what you are doing full time but you have to make a choice. I had to do this back in 2000 and sat down with a pen and paper and listed all the plusses and minuses to each job. It might make it a bit clearer. I knew at the time I couldn't carry on doing both. Firstly money will come into it so if you can pay your way with either job it's your choice. I couldn't pay my way with my part time job at the time so chose to stay in my full time job and packed in the part time one. I started 10 years later when finances were better in 2010 and here I am now. I love it being my own boss and without the financial pressures.

 

[cypress]

Honestly, I'd keep doing both. If your tech work becomes too overwhelming, just raise you prices. That way you can keep the work at a manageable level and be well compensated for it as well.

excellent advice!

at the end of the day you wanna do what makes YOU happy. If you have that passion for your full time job and feel like your helping others, keep at it.

 

[YeOldeStonecat]

Gotta make a decision.....stick with one, or the other....and have a somewhat manageable life. Or do both..and live an insane life of burning the candle at both ends. Not bad in your 20's and 30's...starts to grow old when you get older.

Working at the youth home, and loving that job...you're lucky and I'd encourage that. It's a rare type of person that loves those social work jobs, so you're a rare jewel there that does a very important job and you impact the lives of many. You're actually doing something that betters mankind there! There's a kajillion computer nerds out there, plenty of which can do a decent job, but there's not many good social workers out there.

However, since it is a social work job...I'm guessing the pay isn't all that great, which is why you might like having a second source of income?

 

['putertutor]

Gotta make a decision.....stick with one, or the other....and have a somewhat manageable life. Or do both..and live an insane life of burning the candle at both ends. Not bad in your 20's and 30's...starts to grow old when you get older.

Working at the youth home, and loving that job...you're lucky and I'd encourage that. It's a rare type of person that loves those social work jobs, so you're a rare jewel there that does a very important job and you impact the lives of many. You're actually doing something that betters mankind there! There's a kajillion computer nerds out there, plenty of which can do a decent job, but there's not many good social workers out there.

However, since it is a social work job...I'm guessing the pay isn't all that great, which is why you might like having a second source of income?

Pays not bad, it's actually good for these parts. Between that and my wife's income, we do go wanting. We could swing it on just mine, not including the tech stuff, but she likes working.

I never really thought of it as social work, but I guess in a way it is. But I'm not working for the county or state which keeps the red tape and work load at completely regular levels.What I'm saying is there aren't really any of the administrative or red tape challenged that come along with the idea of a social worker, which is why I don't really think of it that way.

I don't mind the current work load, but yes, it does interfere with family stuff from time to time. I really started the tech company out of a desire to do so rather than a need for money.

Still don't know what to do, but raising my prices seems like a good place to start.

 

[FoolishTech]

+1 for raising prices and keep doing both. I don't mean a 5% raise either. Give yourself a significant raise in rates and enjoy less work and more family time for the same scratch.

 

[dr_ram]

Raising your prices is a good idea.

This might be another: hire some lackeys to do the grunt work of your business, but don't give them important jobs that could hurt your business (dealing with customers etc).


That way you can continue to grow. I don't know your motivation, but if you get large enough then you work at a completely executive level which seems, to me at least, to be something that would be easier to balance with other things because the majority of your work will at that point be speaking and researching rather than 'getting your hands dirty'.

Perhaps not the right thing for you, but isn't this a way that a lot of successful start ups have gone?--minus the full time job?

 

[tom11011]

How about taking the money that the business makes and hiring an employee to do the work?

 

[Tony_Scarpelli]

Self employment if that is all you do, can be very lonely. If you are getting much of your psychological needs met at your job and financial security then you might be jumping from the frying pan into the fire. See if you can hire a part time employee to help further develop your business so that when you do jump it is not a one man company.

My business is growing, but it is not yet strong enough to replace my full time job. But it's getting close. It's getting so that it is difficult to balance both jobs, and I am at the point where I feel I have to start seriously looking at what I want to do. The problem is my full time job is also a passion of mine.

I work at a sort of youth home for young men dealing with addiction. It is, without a doubt, the most fulfilling thing I have ever done, and most definitely has a greater impact on this world, or at least the young men we help, than anything else I have ever done. I pretty much fell into this line of work, but clearly it has grown on me.

Still, I also feel strongly about my computer repair business and truly enjoy what I do. It is just plain rewarding to have people honestly thank me for doing good, quality work and not band-aiding every job that comes along (which was, apparently, what the other guy did before he retired). I am gaining a positive reputation and don't want to leave my customers in a lurch, without anyplace local to get their computers serviced, which is what would happen if I shuttered my shop doors.

I can handle the business I have right now, but too much more and I'm not sure I would be providing what I would consider great turn around times or the level of attention I might expect as a customer. I'm just not sure how to move forward. Arrrggghhhhhhh!!!

More brainpower than what my low-voltage system can muster is needed. Any advice?

 

[dr_ram]

Self employment if that is all you do, can be very lonely.

I second this. My partner got a nine to five and it's been really boring lately. I wouldn't say I'm lonely, but if I didn't care what people thought I would.

 

['putertutor]

Loneliness is not really an issue for me. Whether I was running my own show or working for someone else, I have almost always worked in sole proprietor mode.

I have considered adding an employee, but my past experience is that this doesn't alleviate any of the pressures that exist today, it shifts them at best. Besides, I'm just the kind of control freak that has driven most employees insane.

I have had some time to mull this over and I think that I will continue both venues for now, with a substantial price hike. It's time for one regardless, I think I'll just make it a larger increase than I might otherwise have done. On top of that, I think I will start to let loose some of my residential customers, which will be tough as they got me up and running when I was first starting out. The business customers I have tend to be more tolerant of longer response times, outside of the odd emergency her and there.

I think I will also spend some time streamlining my process as much as possible. That means adding a new bench, couple of extra stations, and some more gear, but hopefully the end result will be a more hands off approach and more efficiency.

This time next year I'll either be going strong and really loving both careers, or I'll have burned this whole town to the ground!

 

[tom11011]

>>>I think I will start to let loose some of my residential customers, which will be tough as they got me up and running when I was first starting out.

Maybe see if you can find them a replacement tech before you let them go.

 

[Tony_Scarpelli]

Prepping for going full time self employment....you should make sure you are getting a full retail rate as if you have been subsidizing your business with your full time employment then you may be surprised how difficult it is to support yourself.

I tend to prefer to be in about the 75% of rates. Meaning about 75% of all IT guys are cheaper by hour than I am, but then again I have 20 years experience. I do not wish to be the most expensive and I never want to be less than average cost as that is not defensible....

So make sure you know what you got and the only way to do that is to charge a full rate to begin with. It would be a pity to think you built a business and find out that when you charge a real rate all your customers dissipate. It would be a real problem if you took steps to terminate your other income and find out that the other leg is not strong enough to stand on.

As a small one man shop you should be able to pay minimal overhead and still support yourself on 8-10 billable hours a week. When doing 20-30 hours billable a week you should be able to build savings or invest into the company.

Loneliness is not really an issue for me. Whether I was running my own show or working for someone else, I have almost always worked in sole proprietor mode.

I have considered adding an employee, but my past experience is that this doesn't alleviate any of the pressures that exist today, it shifts them at best. Besides, I'm just the kind of control freak that has driven most employees insane.

I have had some time to mull this over and I think that I will continue both venues for now, with a substantial price hike. It's time for one regardless, I think I'll just make it a larger increase than I might otherwise have done. On top of that, I think I will start to let loose some of my residential customers, which will be tough as they got me up and running when I was first starting out. The business customers I have tend to be more tolerant of longer response times, outside of the odd emergency her and there.

I think I will also spend some time streamlining my process as much as possible. That means adding a new bench, couple of extra stations, and some more gear, but hopefully the end result will be a more hands off approach and more efficiency.

This time next year I'll either be going strong and really loving both careers, or I'll have burned this whole town to the ground!