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      11-29-2012, 09:44 PM   #33
Mr Tonka
Tonka.... Mr. Tonka
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Join Date: Feb 2009
Location: Tampa, FL

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Quote:
Originally Posted by Bobble View Post
Depends on the business model. I am self employed IT consultant, I had employees thru the 90's and for the last 12 years am solo. I only do projects I want to do, work about 50 hours a week including running the business, IE payroll taxes bills etc.. I do ok, less than when i had 4 people working for me but I work way less and spend way less, back then it was always 60+ hours per week and had some real asshats work for me sometimes(subcontracted gigs) always having to kiss someones ass because somebody thought because they were a so called expert they could pontificate to the client. Life is better now and have way more life.
To become wealthy, one typically has to leverage money or people.


To the OP.

What you're talking about doing is owning a job. Until you have multiple trucks, drivers and employees etc, you're basically a freelance guy with a truck. Not a damn thing wrong with that either. If you can make a good living from it, squirrel some away for the future, have only your customers to answer to..... sounds like a pretty good life.

If you eventually want to work 30 to 40 hours a week, while building wealth; read the E-myth and save every dime you make so you can get more trucks, drivers, etc...

I started out selling and moved in to owning the business. With the economy crapping out i had to continue to sell to keep things going. Lately I seem to be on the verge of having enough producers to allow me to work on my business and less in it. God willing that will be a great day. I really enjoy fine tuning the systems, processes, incentives that could add even a half of a percent to the bottom line. With people producing enough to pay the bills, my highest and best use will be to find ways to pump up the net profit percentage. Just thinking about putting things into the system that can add even one percent to the bottom line gets me excited. We're talking about working ON the business for 5 - 10 more hours a week than IN the business; possibly creating an additional $45k to $50k a year. That's why business owners kill for 1% of net profit.

Eventually, with processes and systems in place that continually capture those extra percentage points most business let slip by, you're creating enough extra profit for you to cut an extra 5 to 10 hours a week out of your work life. Which is great because you'll need that time to figure out how your going to leverage your newly found profit to make you more money.
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"Government is the great fiction, through which everybody endeavors to live at the expense of everybody else." — Frédéric Bastiat