Am I not smart?

[plastikdreams]

Well....the OP will be under huge pressure to get work, and be living sub-standard, so will undercut
all the other shops to get work.....Welcome to the race to the bottom.

I'm thinking possibly sub-bottom...like subterranean

I have a house...not almost paid off (i can get 4x what I owe if I wanted to sell), a good job, and a family. Even if I was single I wouldn't entertain selling everything I have to open a shop.

It's funny, I know 2 guys with shops, one very successful and one scrounging for work. Guess which one is the nicer guy*.

*they are both good people and I worked for one 10 years ago.

 

[wheelieking71]

Who the fuck are you guys to tell somebody what a good "quality of life" is FOR THEM?!
Nobody! That is who! None of us have ever met this dude! (unless is actually darin with yet another...........)

Quit being so damn judgmental, and let people live their own lives on their own terms.

 

[plastikdreams]

Who the fuck are you guys to tell somebody what a good "quality of life" is FOR THEM?!
Nobody! That is who! None of us have ever met this dude! (unless is actually darin with yet another...........)

Quit being so damn judgmental, and let people live their own lives on their own terms.

Ahhh shut up ya wanker

 

[Garwood]

Who the fuck are you guys to tell somebody what a good "quality of life" is FOR THEM?!
Nobody! That is who! None of us have ever met this dude! (unless is actually darin with yet another...........)

Quit being so damn judgmental, and let people live their own lives on their own terms.

If by "On their own terms" you mean the guy doesn't need a business plan or short and long term goals to last more than a few years in this business I would respectfully and wholeheartedly disagree with you.

I don't think the guy needs to conform to anyone else's standards of living, but I do think that if he's planning on living on discount top ramen, sleeping under cardboard and shitting in a bucket until he makes it big in business that's not really a worker of a plan.

You can say you're going to do whatever it takes to accomplish X, but if that involves sacrificing your physical well being to do so, you're going to pay for it. Cortisol is a hell of a motivator for a little while.

Odds of a good outcome are much better with some actual planning.

 

[wheelieking71]

If by "On their own terms" you mean the guy doesn't need a business plan or short and long term goals to last more than a few years in this business I would respectfully and wholeheartedly disagree with you.

I don't think the guy needs to conform to anyone else's standards of living, but I do think that if he's planning on living on discount top ramen, sleeping under cardboard and shitting in a bucket until he makes it big in business that's not really a worker of a plan.

You can say you're going to do whatever it takes to accomplish X, but if that involves sacrificing your physical well being to do so, you're going to pay for it. Cortisol is a hell of a motivator for a little while.

Odds of a good outcome are much better with some actual planning.

IDK? I had no "business plan" when I started other than do whatever it takes to make it work. Which is what I did.
Was that an acceptable "business plan"? Depends on which banker you ask.
The one at the window you give the money to. Or the one behind the desk you try to get money from.
The nice girl at the window in my bank would say my plan must have been solid. Even without ever "entering the race to the bottom".

Lately I have been noticing that I kind of understand why JW was the way he was.
Maybe I am now like the know-it-all 17yr/old who just turned 40 and had the epiphany: "everything Dad said makes perfect sense now".

I'm thinking possibly sub-bottom...like subterranean

I have a house...not almost paid off (i can get 4x what I owe if I wanted to sell), a good job, and a family. Even if I was single I wouldn't entertain selling everything I have to open a shop.

It's funny, I know 2 guys with shops, one very successful and one scrounging for work. Guess which one is the nicer guy*.

*they are both good people and I worked for one 10 years ago.

In red ^^^^ have you ever owned a shop? If the answer is "no": your input here has very little value to anybody who actually does aspire to own their own business.
I'm not saying that as an insult to your values in any way. Good for you for wanting to be around home with and for your family. That is solid.
But, if this guy is legit, your values do him no good.

Ahhh shut up ya wanker

Pound sand (I chose not to give the response I really wanted to)

 

[ILikeMachining]

To answer your question, yes. As stated above, a paid off home is the bestestest thing, ever.
You have equity. Use it to your advantage to move forward, not backwards.

Most Business savvy people would invest in a business before a home, as the Business should provide return that a home does not. He is gonna live in the shop. So he doesn't need the home.

 

[ILikeMachining]

I did pretty much the same as him, and Have a quality of life that would be far better than most. If I want S550 benz, I go get it, if I want to go to NYC for 2 weeks I do it. He will be fine, figure out the machines, how to maintain and fix them, learn the ins and outs of everything, knock on doors and provide good service, stay out of debt, and reinvest in the business when it makes sense. Soon he will be living like a king, without being someone else's B#tch.

 

[wheelieking71]

Most Business savvy people would invest in a business before a home, as the Business should provide return that a home does not. He is gonna live in the shop. So he doesn't need the home.

Well, technically the home does provide a return in the form of appreciation.

I did pretty much the same as him, and Have a quality of life that would be far better than most. If I want S550 benz, I go get it, if I want to go to NYC for 2 weeks I do it. He will be fine, figure out the machines, how to maintain and fix them, learn the ins and outs of everything, knock on doors and provide good service, stay out of debt, and reinvest in the business when it makes sense. Soon he will be living like a king, without being someone else's B#tch.

Amen to that!

 

[john.k]

I dont have a crystal ball.........twenty years ago,if youd asked about sell a house and start a shop,I would have said Go for it..............but ,if Id known for sure that $100k house in 2000 would be a $1 million house in 2022,then I 'd say what Im saying now.

 

[plastikdreams]

IDK? I had no "business plan" when I started other than do whatever it takes to make it work. Which is what I did.
Was that an acceptable "business plan"? Depends on which banker you ask.
The one at the window you give the money to. Or the one behind the desk you try to get money from.
The nice girl at the window in my bank would say my plan must have been solid. Even without ever "entering the race to the bottom".

Lately I have been noticing that I kind of understand why JW was the way he was.
Maybe I am now like the know-it-all 17yr/old who just turned 40 and had the epiphany: "everything Dad said makes perfect sense now".



In red ^^^^ have you ever owned a shop? If the answer is "no": your input here has very little value to anybody who actually does aspire to own their own business.
I'm not saying that as an insult to your values in any way. Good for you for wanting to be around home with and for your family. That is solid.
But, if this guy is legit, your values do him no good.



Pound sand (I chose not to give the response I really wanted to)

We had a family business until my dad retired, not a machine shop though.

I should have put a smiley face, I was just pokin ya.

If you don't feel comfortable posting in the open, there's always private messages

 

[Cole2534]

Good luck gettin laid.

Programmed via Mazatrol

 

[Scruffy887]

I did pretty much the same as him, and Have a quality of life that would be far better than most. If I want S550 benz, I go get it, if I want to go to NYC for 2 weeks I do it. He will be fine, figure out the machines, how to maintain and fix them, learn the ins and outs of everything, knock on doors and provide good service, stay out of debt, and reinvest in the business when it makes sense. Soon he will be living like a king, without being someone else's B#tch.

WTF! Get an AMG Black series if you want something nice. S550=fat old mans road boat. I had an SL55 with Kleeman Stage III tuning and it was a hoot.
Wifey and I spent the first 18 years living over the shop. "Loft" apartment in an old mill building. Drafty, hard to heat, doable AC about 5 years in. I had a millwork shop with 18 employees and that is where I started my tool company. Ran the Mazak lathe sorta 24/7 at times because getting it to drill a .016 hole 8xd in brass was pure voodoo. If I woke up at night and did not hear it running I would don my robe, head down the stairs, load another bar.
For sure I do not miss living there. But I did not have a house to sell back then.

 

[david n]

So no more from the OP? Prolly didn't like what he heard(or is a troll/poser).....................no way I'd sell a house to buy a building/shop/machines................................

 

[Ox]

Without a doubt - if I had to choose between making machine payments, and house payments during the bad times, the house is gone!

I can replace the house next year if things turn around.
Starting over at the shop is a MUCH bigger deal.


-----------------

Think Snow Eh!
Ox

 

[DDoug]

Without a doubt - if I had to choose between making machine payments, and house payments during the bad times, the house is gone!

I can replace the house next year if things turn around.
Starting over at the shop is a MUCH bigger deal.


-----------------

Think Snow Eh!
Ox

True.
Houses can be had with 3-6 axles under them, machine shops...not so much.

 

[wheelieking71]

Without a doubt - if I had to choose between making machine payments, and house payments during the bad times, the house is gone!

I can replace the house next year if things turn around.
Starting over at the shop is a MUCH bigger deal.


-----------------

Think Snow Eh!
Ox

Exactly!!!!!!!! X eleventytrillion

 

[wheelieking71]

True.
Houses can be had with 3-6 axles under them, machine shops...not so much.

Matt @ RFR lived in a house like that when that bastard fire stole his "real" house from him.
And started rebuilding at his shop that the bastard fire didn't steal! With his family no less!

 

[wheelieking71]

I should have put a smiley face, I was just pokin ya.

Ox has that neat little pokey-stick that none of us regular Joe's can use. It's not fair I tells 'ya!

 

[Ox]

Well, considering that my shop has paid for everything that I own, and my house has paid for nothing - unless I sell it.... I know where my bread is buttered.

Jan 2009 you couldn't have sold your house for a profit - at least not around here.
Matter of fact, you wouldn't have been able to git'cher pre 9/2008 value back out of it until prolly 2015?

I have a few "mill/turns", and I can put a value on them quite easily.
They make me money WITHOUT selling them!

I didn't buy a house until just a few (8) years ago.
I was NOT having that overhead until my shop was in a good place. (financially)

I watched too many farmers in my area go through hard times in the mid 80's (post Russian Grain Embargo) right after good times.
The ones that spent a boat load fixing up the house for the wife - they all lost the farm.
Those that didn't, built a new or fixed up the old in later years, and didn't lose sleep over it.
This is one of the biggest lessons that I model my life/business after.

Don't invest in something that doesn't make money until you have money.



Did you wunna barrow this?

---------------------

Think Snow Eh!
Ox

 

[charlie gary]

Ox has that neat little pokey-stick that none of us regular Joe's can use. It's not fair I tells 'ya!

You mean this thing?