Also returned from a long time away....what Ive been up to.
 

I havent posted on 2p2 for a few months so I thought Id give MMB a shout. First off thank you to every one here that was around and giving me ideas and support on my startup a few months ago.....

Background: 2 months ago I started on a venture to open my own company from home to do whats called "skiptracing" or locating people remotely for creditors and other interested parties.

Since then I have sucessfully landed an opportunity with a large company for an open ended contract where I have been getting far more buisness than I can keep up with.
I am 5 days away from giving a 30 day notice to my day job.

Im pretty confident I will do quite well on my own, but as a compromise with my wife I have decided to also take on a part time job for 3-4 hours a day away from the house( Job suggestions welcome [img]/images/graemlins/smile.gif[/img] ) ...and honestly this will make my transition from quitting my day job much easier.

Anyways thanks to everyone in MMB for kicking my in the behind to get started. The next year is looking bright indeed.

(All questons or comments welcomed)

Thanks,
Richard

Re: Also returned from a long time away....what Ive been up to.
 

Congrats on your success! IMO, the hardest thing in starting your own business is just getting started. Its so scary, especially for spouses. Good for you.

Putting in my notice - SCARY!!
 

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Congrats on your success! IMO, the hardest thing in starting your own business is just getting started. Its so scary, especially for spouses. Good for you.

[/ QUOTE ]

Scary?....Im absolutely petrified. So is my wife.
I went to work after posting this and had "the talk" with my boss....nothing is final yet and I didnt put anything in writing. It was a pretty bad and emotional meeting....in the collections industry 6 years makes you a seasoned veteran and its unheard of for someone to leave the industry after that long. Ive been with them since I was 19 and my office is really all I know...I was broke and living in moms basement before I found this place. They basically helped and made me grow up.

Making this choice now to leave has literally been the hardest decision Ive ever had to make in my life.

I was also told that if the higher ups heard about the buisness then Id be fired via "conflict of interest". He then made his case for me to stay and supposedly there are talks now with administrators about offering me an incentive to stay and to drop the buisness all together.

A few days ago I was 100% sure as to where I would be in a few months. Ive had my eye on the prize and focused on the buisness startup 100% for 2 months...My buisness is 90% finalized and is already ready to start making money, but now Im second guessing everything Im doing as to if it is right or not. I need to make the decision now as to whether to take the plunge....like today... imediately. I was actually sent home from work about an hour ago and told that when I return tomorrow to have a black and white answer for them.

MMB this is a cry for help!! Please... anyone thats made the leap please give me some insight that may make this decision more clear today.

Thank you

Re: Putting in my notice - SCARY!!
 

Being your own boss > working for "the man" by a factor of 100. The goal beyond that is to get people to do what you do but pay them 1/5th of what you make for that service.

It does require focus though. Some days I kind of forget to do much work and then on Friday I say to myself, "Man I didn't get any [censored] done this week" and obviously my income for the week reflects that.


About your part-time job - I'd probably skip that completely if it's some low paying scrub job. The $40 you make in a day for 4 hours of work could probably be better spent building aspects of your business.

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
Being your own boss > working for "the man" by a factor of 100. The goal beyond that is to get people to do what you do but pay them 1/5th of what you make for that service.

It does require focus though. Some days I kind of forget to do much work and then on Friday I say to myself, "Man I didn't get any [censored] done this week" and obviously my income for the week reflects that.


About your part-time job - I'd probably skip that completely if it's some low paying scrub job. The $40 you make in a day for 4 hours of work could probably be better spent building aspects of your business.

[/ QUOTE ]

I was along those same thoughts before I had the meeting today....my boss is just a very good manipulator I guess.

Can you describe your plunge into self-employment? Was it as scary for you as it is for me right now?

Re: Putting in my notice - SCARY!!
 

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Scary?....Im absolutely petrified. So is my wife.

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It is completely normal. What is the biggest downside of this decision? If you can live with that, then you are golden. Fear is what keeps people in the same place for their whole lives, never realizing their true potential. Embrace it.

[ QUOTE ]

MMB this is a cry for help!! Please... anyone thats made the leap please give me some insight that may make this decision more clear today.

Thank you

[/ QUOTE ]

The reason that your boss can offer you special incentives is that he can afford to and still make money off your labor. The fact is that for every $10 you generate in revenue, your boss gets to put $4 or so in his pocket. You go into business for yourself in order to keep the whole $10, plus you get to charge other people 40% for the privilege of working for you. Thats a good deal and its a smart move. Its a hard decision. But you know what you are doing, you have years of experience, and you are already on the road to success in a growth industry. Don't let the fear stop you from getting where you want to go!

Who dares wins.

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
Can you describe your plunge into self-employment? Was it as scary for you as it is for me right now?

[/ QUOTE ]

Getting let go from my last job was the major deciding factor for me. Reading Rich Dad/Poor Dad was a real motivator to me (there's a long thread in Finance & Investing with opposing sides on the book). But 85% of what I do now is what I was doing for "the man" (which is making websites). Except now I'm my own client. There's just an initial period of lower income which comes with any brand new websites or almost any brand new business. To overcome that I have money saved up as well as business credit.

Re: Putting in my notice - SCARY!!
 

My bosses boss just called me and in a very proper, professional way said that we needed to sit down and talk tomorrow.....he did no elaborate. Hopefully before tomorrow I can deduce what is going to happen from some other people.

Im either getting fired or being offered more money to give up on my buisness....or maybe something that will include both (probably not).... Id say its 50/50 right now. Tomorrow should be fun.

Please discuss...

Re: Putting in my notice - SCARY!!
 

I don't think you have anything to fear. But you do have a decision to make, and you're scared you won't make the right one. You're (we're) still young and making a mistake now isn't going to be the end all be all. You haven't mentioned kids, so I'll assume there are none. You don't have a huge family responsibility and I think the risk of going into business on your own is best taken right now. That being said, its your decision. Have comfidence in your decision capabilities and go with what you think, no one else should be able to influence your choice.

Re: Putting in my notice - SCARY!!
 

I decided to stop the 9-5 at the beginning of this month. I've taken the last 26 days off getting ready for a move and setting up my business plan to run an IT services company for small businesses (10 to 50 workstations). I have no income coming in right now but lots of meetings lined up with prospective clients over the next month. I'll be offering basic IT support services like data backups, software upgrades, fixed asset inventory tracking, helpdesk support and technology purchasing.

I can live with no substantial income coming in for at least 12 months but hopefully I'll be much busier soon. I'm also fairly confident that I can pick up database programming gigs when business is still slow. I want to steer away from this type and focus on selling services that I can scale well and/or automate in order to get higher value for my time since programming gigs get paid on a per hour basis.

I'm excited, scared and overwhelmed at times but since I'm at that point in my life where I'm relatively free of responsibilities (no kids and no mortgage) I'll probably never get a better chance to avoid the drudgery of working 9-5 forever [img]/images/graemlins/smile.gif[/img].

Re: Putting in my notice - SCARY!!
 

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[ QUOTE ]


Scary?....Im absolutely petrified. So is my wife.

[/ QUOTE ]

It is completely normal. What is the biggest downside of this decision? If you can live with that, then you are golden. Fear is what keeps people in the same place for their whole lives, never realizing their true potential. Embrace it.

[ QUOTE ]

MMB this is a cry for help!! Please... anyone thats made the leap please give me some insight that may make this decision more clear today.

Thank you

[/ QUOTE ]

The reason that your boss can offer you special incentives is that he can afford to and still make money off your labor. The fact is that for every $10 you generate in revenue, your boss gets to put $4 or so in his pocket. You go into business for yourself in order to keep the whole $10, plus you get to charge other people 40% for the privilege of working for you. Thats a good deal and its a smart move. Its a hard decision. But you know what you are doing, you have years of experience, and you are already on the road to success in a growth industry. Don't let the fear stop you from getting where you want to go!

Who dares wins.

[/ QUOTE ]

Thanks for the kick in the butt. Im pretty clear now on what I want to do. Now the tricky part is how to explain what I want to do with my bosses so that I dont get fired in this next 30 days and lose a powerful job reference. This is my only real fear now.

I think I just need to accept the fact that Im not going to be 100% ready to make this leap in 30 days....and Im sure Ill have some more mini-breakdowns before April is over. I just need to keep focused and not let emotion take the better of me.

Thanks for all the advice and Id love to see some more responses here as I update the thread.

Richard

Re: Putting in my notice - SCARY!!
 

Livingitup0

Say goodbye to the rat race.

Welcome to financial freedom.

I'm glad you've made the transition.

Re: Putting in my notice - SCARY!!
 

Hmmmm, if only you were in Canada....

I need skip tracers for my real estate business. Locating owners of vacant properties etc etc.

How much should it cost to simply find an owner of a vacant property if they are not found in tax rolls / white pages?

I don't want to use the big private investigator firms because they'll just whoop me a big bill.

I know there are small time private investigators but not sure how to find them.

A lot different here in Quebec Canada than United States, in terms of public information.

Interesting though.

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
Hmmmm, if only you were in Canada....

I need skip tracers for my real estate business. Locating owners of vacant properties etc etc.

A lot different here in Quebec Canada than United States, in terms of public information.

Interesting though.

[/ QUOTE ]

more restrictions on public information or less?

Re: Putting in my notice - SCARY!!
 

More restriction.

For example, bankruptcies, divorces, notice of mortgage default are all public info in United States. Or more so in some states than others.

In Quebec, Canada, it's extremely difficult to get a list of the said people above.

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
More restriction.

For example, bankruptcies, divorces, notice of mortgage default are all public info in United States. Or more so in some states than others.

In Quebec, Canada, it's extremely difficult to get a list of the said people above.

[/ QUOTE ]

Yes but Ive found that Canadians are far more detailed about their record keeping and updating with creditors. I have access to peoples credit reports and verify most of my information that way. Without premitted use to search private databases and get these reports like I do its nearly impossible to find up to date info on anyone, US or Canadian....and yes the information is expensive...its really my only monthly expense outside my phone and website (not completed lol).

Even if you cant find them its really only the due diligence report that matters in the end. The creditor will always gets their money back in some shape or form.

Re: Putting in my notice - SCARY!!
 

I'm derailing this thread. I'll post via PM.

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
Thanks for the kick in the butt. Im pretty clear now on what I want to do. Now the tricky part is how to explain what I want to do with my bosses so that I dont get fired in this next 30 days and lose a powerful job reference. This is my only real fear now.

I think I just need to accept the fact that Im not going to be 100% ready to make this leap in 30 days....and Im sure Ill have some more mini-breakdowns before April is over. I just need to keep focused and not let emotion take the better of me.

Thanks for all the advice and Id love to see some more responses here as I update the thread.

Richard



[/ QUOTE ]

If you have made up your mind that you are not going to stay there (it sounds like you have), then tomorrow I would essentially give them 30 days notice that you are resigning. Spin it in a good way, you have decided to start your own business, but that it is important to you to leave on good terms, and don't want to leave them in a pinch. You are giving them extra notice and are flexible on when your last day will to help them make the transition to after you are gone. They should appreciate this.

Remember, you never signed your life away to these people, and while I understand your sense of loyalty, you are probaby a lot more loyal to them than they are to you (not true with every company, but most these days).

If you end up staying, you pretty much need to get a raise/promotion in return for staying and giving up your business, or they could hold it against you as a blemish on your record (how much or if they would hold this against you is highly situational dependent too)

Re: Putting in my notice - SCARY!!
 

You asked:

Was taking the plunge scary?

For me, taking the plunge into the world of the unknown was not scary. I had a vision / purpose towards what I wanted to accomplish in life and a 9-5 job was not going to cut it. I just refused to let my fate be like the fate of 90% of other people.

Once you have a reason for doing what you are doing, and that reason is so powerful, so convincing for you to make the decision to plunge into the unknown.... anyone that comes to you trying to steal your dreams / sway you / discourage you, those people will quickly be ignored by yourself.


You must stand your ground for your own beliefs. Don't let them steal your dreams, don't let them pull you down.

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
About your part-time job - I'd probably skip that completely if it's some low paying scrub job. The $40 you make in a day for 4 hours of work could probably be better spent building aspects of your business.

[/ QUOTE ]

I disagree. If it makes your wife deal with the transition better, you should do it for her. As the business grows, she'll find that your financial security comes from you and your abilities and not an employer. Until then, I'd humor her. It's only temporary.

BTW, you can do a lot better than $10 an hour for parttime work. Look into stuff like tutoring or pt things that requre a little skill.

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
You asked:

Was taking the plunge scary?

For me, taking the plunge into the world of the unknown was not scary. I had a vision / purpose towards what I wanted to accomplish in life and a 9-5 job was not going to cut it. I just refused to let my fate be like the fate of 90% of other people.


[/ QUOTE ]

This was basically the way it was for me too. In fact, I took my first job with the intention of being self-employed within two years. I couldn't wait to start building wealth. It was still scary though when i quit. But I figured that the worst that could happen is I lose all my money and possibly have to declare bankruptcy. I decided that I could live with that, and I stopped being as afraid.

I like to say, 'who dares wins'. For some reason, that little slogan has always rang really true to me. Its the guys (and gals) willing to take substantial risk (comparatively) that get to reap the most substantial rewards. That doesn't mean that its not scary - it is. And thats not to say that its not hard - it is. But it's being scary and hard is not a good excuse to not do it.

Re: Also returned from a long time away....what Ive been up to.
 

I spoke with my boss last night and found that the company is unwilling or able at this time to offer me any substantial promotion and raise.

I have just finihsed my resignation letter and will be going into work in about an hour. My boss last night said that when I give my resignation that there is a 50/50 chance that I would be fired immediately. Supposedly a company has a choice once you submit a resignation to not allow a notice and let you go that day.

We'll see how it goes....hoping for the best...preparing for the worst....and thanks to you guys and my family I now see that the worst thing that can happen today.....really aint all that bad.

Wish me luck [img]/images/graemlins/crazy.gif[/img]

Re: Also returned from a long time away....what Ive been up to.
 

Good luck!

Re: Also returned from a long time away....what Ive been up to.
 

[ QUOTE ]
Good luck!

[/ QUOTE ]

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]


I like to say, 'who dares wins'. For some reason, that little slogan has always rang really true to me. Its the guys (and gals) willing to take substantial risk (comparatively) that get to reap the most substantial rewards. That doesn't mean that its not scary - it is. And thats not to say that its not hard - it is. But it's being scary and hard is not a good excuse to not do it.

[/ QUOTE ]

QFT

Those who do what others dare not do, are the ones that make the most money and are the most successful.

I only feel alive when I am walking that edge of uncertainty. Knowing that at any moment I can fail and have to start over all over again. What I do must be on the borderline of impossibility for me to even be interested in what I am doing.

You like to say: "who dares wins"

I say: "If it's not impossible, I won't do it"

I am a bit of an extremist but it seems to work for me. heheheh

Re: Putting in my notice - SCARY!!
 

livinitup -- I guess I wasn't on the MMB forum so much when you were around, but I'm glad to hear about your success. Congrats!

Re: Putting in my notice - SCARY!!
 

livinitup,

Sorry for posting so late but I did get your pm. Looks like you already made your choice on what you are going to do.

I just want to wish you luck and I'm sure you will be successful in whatever you do.

Nato

Re: Putting in my notice - SCARY!!
 

Just an update...put in the notice today. They decided to expidite my 30 day notice and my last day is Friday. [img]/images/graemlins/smile.gif[/img]

Oh well....starting one month earlier...should be exciting.
Cool thing is Ive got like a months paycheck worth of vacation coming on my last check. So...really everything ust kind of fell into place today and Ive been reletively calm about the situation.

Even the meeting was pretty decent outside of the unexpected timeline.

Anyways...thanks again guys for the support the past 24 hours. Ill keep people updated as to how my first month goes.

Richard

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
Just an update...put in the notice today. They decided to expidite my 30 day notice and my last day is Friday. [img]/images/graemlins/smile.gif[/img]

Oh well....starting one month earlier...should be exciting.
Cool thing is Ive got like a months paycheck worth of vacation coming on my last check. So...really everything ust kind of fell into place today and Ive been reletively calm about the situation.

Even the meeting was pretty decent outside of the unexpected timeline.

Anyways...thanks again guys for the support the past 24 hours. Ill keep people updated as to how my first month goes.

Richard

[/ QUOTE ]

Ha! Its funny that they think that firing you 30 days early is going to keep you from stealing their confidential information. You've worked there six years! You already know everything! Dummies.

Last day
 

Well I did it. I am now officially self employed. My last day went without any incidents and went better than expected. I was even told by the owner of the company that I would always have a place there if I needed it. It just goes to show that old fashion loyaly and friendships still exist in this crazy world of corporate backstabbing [img]/images/graemlins/smile.gif[/img]

Ill give you guys an update as to how my first week goes.

Thanks for all the support

Richard

Re: Putting in my notice - SCARY!!
 

[ QUOTE ]
[ QUOTE ]
Just an update...put in the notice today. They decided to expidite my 30 day notice and my last day is Friday. [img]/images/graemlins/smile.gif[/img]

Oh well....starting one month earlier...should be exciting.
Cool thing is Ive got like a months paycheck worth of vacation coming on my last check. So...really everything ust kind of fell into place today and Ive been reletively calm about the situation.

Even the meeting was pretty decent outside of the unexpected timeline.

Anyways...thanks again guys for the support the past 24 hours. Ill keep people updated as to how my first month goes.

Richard

[/ QUOTE ]

Ha! Its funny that they think that firing you 30 days early is going to keep you from stealing their confidential information. You've worked there six years! You already know everything! Dummies.

[/ QUOTE ]

Actually its funny you say that....as of 5:01pm the IT guy was there asking for my ID badge and took my computer. I made a joke saying "Yeah now you get to spend the next 2 days seeing what Ive been doing on this thing over the past few years" (Not that there was anything to find anyways)

Dude he looked at me with all seriousness and said: "Yep"

[img]/images/graemlins/grin.gif[/img]

I thought it was ironically hilarious. Hes going to spend the next two days on a wild goose chase just out of pure paranoia....and Ive hung out with this guy on numerous occasions, even had him over to my house and met his wife and kids. Some people are just funny.

I mean I completely understand why they would do that, but I dont see why he needs to assume there is something there instead of just "inspecting" the computer to see if there is something there. I mean if everyone else there was bummed about me leaving and made sure to talk to me and wish me good luck, why couldnt he have done that too? ...and then done his job when I was gone?

To all corporate IT people out there.....calm it down guys. You can still do your jobs effectively without being an (censored) [img]/images/graemlins/smile.gif[/img]

Richard

Re: Putting in my notice - SCARY!!
 

As someone who once long ago worked in corporate IT, do you think they enjoy it? Seriously inspecting someones computer is about as much fun as watching paint dry. Secondly he's not going to spend two days looking at your computer, I give him an hour/two at tops before it's reimaged and ready for the next person. A lot of what we use to do was taking all the data on the computer off it and being sure we had it all before the reimage so that 2 weeks down the line when someone realizes you forgot to send them that file you were working on it's there.

I also didn't see him assuming there was something there.

A note to all business guys leaving their jobs. Stop being so touchy :P

San

Re: Putting in my notice - SCARY!!
 

Congratulations on your new career, hopefully you don't end up back in your mom's basement. [img]/images/graemlins/wink.gif[/img]

In all seriousness Skip Tracers can make some bank if they develop a good client list and are good at finding people! :P