Self employed or stay working for large firm

[dmitch071]

Hi, sorry to ask a question that has been asked a few times before, but as the indusrty is constantly changing so do peoples opinions. I currently work for a large firm as a breakdown engineer but I am thinking of starting up self employed doing site work. I joined this trade always with the intention of working for myself after I had gained sufficient breakdown and installation knowledge, however I now find myself in the trap of fairly decent pay and job security.

Do you think site work is a good idea or is it better to stay with the breakdowns and the odd instalation. Also am I thinking of doing this at the wrong time with all the economic worries going on.


Opinions appreciated

Cheers Dave

 

[slapper]

Stay with your present company, at least to see this year out."2008 is going to be tight

 

[JonB]

Are there any decent firms to work for in Botswana.

 

[Zampa]

 

[roughcaster]

Roughcaster.

 

[Andy165]

Have you got a good business brain and are you prepared to be swamped in paperwork and "chase" the work available? If youve got a mortgage and family to look after, stick with the regular work with the big company. If going self employed be prepared for very hard graft for up to a year to establish yourself with possibley low income and intermittent workloads until you get a good reputation. After that you could earn big providing you can work fast or are a whizz at fixing boilers. Be aware that sooner or later an experienced builder will sub you some work and be good to you at first and then shaft you big time for business reasons . We all fall for it, its called the learning process and can be quite painfull. Good luck what ever you decide.


If you'r a fitter, make it fit!

 

[davydunt]

i don't want to put you off but, i am just coming out the other side of self-employment venture gone wrong. if only i could turn the clock back.

my advice would be don't do it unless you are 110% sure its going to work out profitable in the long run. the current financial situation is bleak and its anybody's guess how long before it evens out again.

id say by your description your feeling like your stuck in a rut with your current employer ? if so change things around a bit to make work more interesting and maybe have a word with the boss to see if you can break a deal involving some sort of bonus scheme that would be lucrative for both of you.

 

[dmitch071]

cheers for the replys, It is not so much that I am unhappy, I just feel like I want the challenge of creating a succesful business, not making millions but making a local business that is thought highly of and provides me and my family with what we need. I am very business focused always have been, I treat myself as self employed, I look as my employment as my own business in regards to correct fault diagnosis rther than guess work even though I could chuck a thousand parts at a boiler in my current position if I needed. I also take on complaint jobs rather than pass the buck, and complete any crap job myself rather than stitch up other engineers. I do however relise that at the moment I have a decent pension plan, earn 29k before any overtime which there is plenty of, and I only work 8 to 5 and 5 days a week with job security,which I know would go out the window working for myself, but this im prepared for.

I am 25 have a newborn baby and mortgage I think from reading through threads and the state of the industry im better doing what im doing for the moment and making as much as i can of it, until the industy takes a turn.

 

[^woody^]

I just feel like I want the challenge of creating a succesful business, not making millions but making a local business that is thought highly of ....
...... I am 25 have a newborn baby and mortgage

Nice sentiments, but business is business and no one else cares if you have work the following Monday or if you get paid or not.

By all means give it a go, but think of your family and have a backup plan and some savings for if things go titsup

My own recollection of self employment was long hours, chasing work and money, stress, but most of all not really having much time to spend with the family and watch the kids grow up.

There are somethings MasterCard can't buy

 

[Andy165]

A bit of job security and regular money gives you a lot of peace of mind. Stick where you are and take on side jobs if you want to and not because you have to , which can be the case when you are self employed. Get into fixing these condensing boilers with their intermitent faults and become a much sort after expert. I,m self employed and will be looking at earning about £20K this year for an average 55 hour week and very little holidays and unsocial hours. Your job sounds great to me, I,d swop no problem@

 

[Thermo]

i run my own small company thats grown from nothing in 4 years. takes hard work, har work, and hard work, as well as a lot of other things. I went from an extremley secure job, to do it. Wouldnt go back if you paid me 4 times the amount. Think carefully before you do it and get lots of advice

try here www.startups.co.uk

and have a look at some others. I dont know your particular industry, so i dont know what state its in, but we are doing well for work. Dont do anything in haste

 

[dmitch071]

Cheers guys, will stay what im doing. Would love to have my own business, I know most customers wouldnt care if I had work thats not what I meant, I was thinking more along the lines of decent reputation, a business that I could be proud of and made me and my family a decent living. But like you say it could go all the other way and could end up hating it all, I cant have it all I suppose i have the opputunity to make a decent living and take time to spend with my family doing what im doing. Problem is you dont no until you have made the jump!!

 

[WoodYouLike]

Cheers guys, will stay what im doing. Would love to have my own business,

Nothing is stopping you this year to dig deeper into the subject of becoming self-employed and starting your own business. Learning and preparation is the key to any successful business.