Who runs their own business?

[Edbear]

The thread on the Gummints review of our tax system has brought out some interesting perspectives on how businesses and business persons operate.

No-one has missed the total collapse of many of the world's financial institutions and the problems of large companies due to mismanagement and greedy recklessness, so I have no argument that there are "big guys" who are irresponsible in their roles.

However many businesses are run very well and although not pushing anyone's barrow, I use as an example, TelstraClear which had a nightmare year last year and laid off many staff and had to really micro-manage their finances in a very competitive market under some significant disadvantages. No, despite their tie-up with Telstra Australia, they had to survive as an independent company and this year they are doing much better.

I know the CEO personally and it was very painful for him to be forced to lay off people. He genuinely cares. I was one of the casualties back in May and was very upset to lose a job I enjoyed and my bosses weren't happy either. Our business manager fought tooth and nail to retain his team, but in the end the number crunchers won.

I'd be interested in people's expriences and attitudes to running their own business as I think there are also misconceptions about what types of people run successful businesses and how they see their roles and their staff.

[Headbanger]

Shes a hard road, I ran my own company for four years of blood, sweat and tears but had to close her.

Aside from that, I have been involved in another (family) company for many years (though no longer, Fuckin Bastards) in a management role, and the biggest struggle was always the 50 grand a month wages bill, Always amusing to hear the bitching going on from the work force who had no comprehension of what was going on behind the scenes to ensure they were being looked after first and foremost.

And we have launched my wifes company in the last few months, Hasn't found traction yet.

A lot of the ignorant anti-business bullshit I read around this place makes me chuckle, No fucking idea at all.Just mouth.

[yungatart]

Mstrs and I run a small business from home...
No staff, just us. That way he gets to sleep with the receptionist and I get to sleep with the boss and nobody else gets upset about it.
(Well, there has to be some perks, right?)
It's not easy, we aren't rich, but we make a living and it suits us.

[rainman]

I am currently a one-man consulting company (my nod to "labour flexibility" in the current market) but have also run a successful small business with staff, as well as worked in mostly middle management roles in large and small businesses.

[scott411]

i run a company with 10 employees and it can be hard, he had to lay someone off last year and it is the hardest thing i have ever had to do so far

[Winston001]

Its quite normal for business owners to earn less than their employees in tough times. Why do they do it? In a small business the human relationships are personal and laying a good employee off hurts. At the same time the owner keeps optimistically hoping things will turn around and improve. Often they do.

[Big Dave]

I'm self employed, freelance, my own man, it's great, but the the boss is an idiot.

[JimO]

im a self employed tradesman, no staff only me

[Edbear]

I ran my own business back in the '90's as a travelling salesman. Started off as a "Bon Brush Man" calling on dairy farmers with dairy shed brushware. By the end I was selling all sorts of stuff but I did it wrong, worked too hard with too little capital, grew too fast and had a couple of setbacks which meant I wound up behind the 8-ball. Short story, I got sick, lost everything and ended up in a wheelchair. Since then we've been reluctant to pwn another busines, but circumstances such as being laid off in a recession and an offer to work with my daughter and son-in-law in their businesses has resulted in me once again owning and running my own business.

This time I'm trying to be smarter and consulting "people who know about such things". My daughter and son-in-law's business has grown and is becoming very successful to the point he now employs staff including an apprentice I have seen the sacrifices they have made, the sleeplessness the long hours, the countless thousands they have invested out of their own pockets and the sheer determination and effort they have put in to it. I take my hat off to them!

Personally I've worked my butt off for nothing for six months and my wife and I are living on very little. We've spent pretty much everything we had, hence my ad for the C50T along with putting all our toys up for sale.

Good news is we really don't have to sell off everything now and we're about to place our first order from overseas which will finance our second and we're now getting things in place to expand this year. Starting with no capital is hard, but it also means one is very careful about what one spends scarce resources on meaning very little money is wasted.

Any other experiences?

[Edbear]

Its quite normal for business owners to earn less than their employees in tough times. Why do they do it? In a small business the human relationships are personal and laying a good employee off hurts. At the same time the owner keeps optimistically hoping things will turn around and improve. Often they do.

Often the case, too. My son-in-law wishes he earned as much as the registered plumber on his payroll!

I'm self employed, freelance, my own man, it's great, but the the boss is an idiot.

They usuallly are...

[Headbanger]

I am currently a one-man consulting company .

Can I ask in what field?

I've been mulling over the idea of launching myself as a consultant, Though a bit of research indicates a few others locally have gone before me and failed.

[slofox]

I've had two businesses.

The first one employed several people. They got paid first. I got paid last. None of them would have worked for the hourly rate I made for myself...not even for twice what I paid myself. Why? Because it was all that was left, that's why. We eventually wound that business up after roading changes killed our passing traffic and made us hard to get to. The City Council were very happy...they didn't like having us where we were, despite us being there before the city took in the area.

My current business in basically just me but in the last year I have employed a one day a week part timer. I aim at the quality end of a market that is over supplied by those who are prepared to cut margins to the bone to get market share and who have the privilege of subsidising their selling of my product with the other things they also sell. It seems to me that the interest in quality product in general is on the wane in EnZed - especially with the current financial climate. But I also think we suffer from "Warehouse Syndrome" here - same as USofA's "Walmart Syndrome". Basically it goes "if it's cheap we buy it and fuck quality".

Or perhaps I am just a shit business man...

[rainman]

Can I ask in what field?

I've been mulling over the idea of launching myself as a consultant, Though a bit of research indicates a few others locally have gone before me and failed.

Sure, IT. (What else?) Basically I have a GST registered co for contract gigs. If the market is good I get to keep busy, if not... I might eventually pick up something more permanent. I do like contracting but to be honest one-man IT contracting in NZ is usually just a succession of short-term employment (doing whatever is required or available) rather than developing a solid single specialist product. Portfolio woking, basically. No hope of a job-for-life and a comfy pension, these days its a life of relative uncertainty. But such is labour flexibility.

This time around (done this before) I've had to do a real mix of stuff to keep afloat. It's been a tough market lately, getting a bit better though.

[BoristheBiter]

My father started our business up in 91, in started in 97 and we grew very well untill a few years ago when we just had too few jobs.
had to lay off one worker, then everyone thourght we were broke and left. ended up all right as without the overheads we fine.
best thing we did was sack the accountant and payed a bit more and got one that does look after us.
Have often thourght about packing it all in but i don't think i could work for anyone now.

[LilSel]

My parents are self employed, the biz has been going for over 30 years. I was made redundant from my job as a key account manager in april last year. Just so happened that another company who we contracted to, made their staff redundant at the same time. They then approached us & asked if we would take over the work for greater auckland.
As I was still looking for a new job (had 4 weeks to do so), parents asked if I wanted to start/manage & run my own biz (I've worked in the industry for years). So decided yep, & we hired the redundant guys, bought them vans etc etc... has been 9 months of intensely hard work thus far!! I do everything for my side of things & havent had a break since starting up.
I don't get paid extra for working stats, weekends or for any of the many hours of 'overtime' I put in... if my guys work overtime or on the weekend, they get paid overtime etc.
I'm 25 & the 'boss' to 6 full time guys (that is just my side of the fam biz), if I don't get my monthy invoice out, we dont get paid & the result would be.... disasterous!! I work very long hours & put so much into this. If I screw up, its not just me that will be f***ed...

So all in all, this is my experience ^^ & my attitude is, ya gotta do what ya gotta do to be successful, sacrificing time/money/social life is part & parcel.
My role is the 'boss' lol & my staff are gems I treat them as I'd like to be treated myself, with respect, I used to hate being spoken down to at previous jobs & that is something I just couldn't do. At first I was a little concerned about possibly being walked over because of my age but my guys are great!! I may be their 'boss' but I dont put myself above them, someone has to be in charge so to speak, we're a team, we work together & work together well!! Without them, I wouldn't have the biz.

Right... back to work LOL!!