Wish Me Luck !



Best of luck, don't underprice too much.
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Buerste wrote:

Thanks , and I'm shooting for 20% under the big guys . I have a lot less overhead ... and no employees to pay SSI , insurance , workmen's comp , etc for .
--
Snag
sometimes ya gotta
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Terry Coombs wrote:

Don't forget your tax overhead, you do have to pay SSI and whatnot on yourself. Schedule C stuff...
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Pete C. wrote:

My wife has repeatedly reminded me about that ... I'm not going to fall into that trap again , it's all going into a savings account and payments will be made quarterly .
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Snag
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Terry Coombs wrote:

And remeber, SSI is really 12.4% and not the 6.2 % you see on your payroll check stub.
John
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john wrote:

Ohhh , yeah ! I know it's double , been in business before . There's an awful lot about being in business for yourself that the general public just doesn't know about . And I think you might have the withholding percentages wrong - though I haven't checked , and I know that since I was last in business <1992> they have changed the structure of SSI and medicaid/medicare withholding . I wish they'd passed legislation that would let me handle that myself . I trust me a hell of a lot more than I trust "them" . Been putting 6%+ away over and above SSI for several years now .
--
Snag
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Terry Coombs wrote:

Hi Terry,
No it's not really double.... There's a magic hole in the back yard of each employer, that money seems to pop out of, for SSI... the money kinda "miracles itself there". Where in "THE WIDE, WIDE WORLD of sports" is Darwin when you need him most????
Good luck on the "putin' out the shingle thing", for me it's worth at least $25 per hour just knowing what I'm doing tomorrow... Or maybe what I'm "not" doing (I love to say NO SALE).
BTW, all the stuff about insuring and indemnity, do it (risk based on books, but shop around). Also real friends don't mind if you take forever cause you're busy, and you're getting a case of beer anyway (you better)! Last, be friends with a real walk in welding or fabricating shop so when someone (city, state, airport, etc.) finds you, you can say "X" does that a lot and they can slip you in (make the call for them).
Oh, almost forgot, got caught in the AMT window 3 times before talking to the tax lady about it, didn't know you can plop money in municipals, get 10%, flip off the state and feds, and still do OK.
Matt (out'a the rat race 15 years now)!
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matthew maguire wrote:

I'll read this one again tomorrow , when I'm sober ...
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Snag
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Nothing
a
Going into business for yourself, eh? In this business environment? Boy, you are going to need a lot of luck. I don't want to tell you what the odds of failure for a new start up are so good luck anyway. You will be needing a lot of it to even make it through the first year. You'll be needing quite a bit of money too. I don't want to scare you off but making a new business pay off is a real challenge. If you can make any money from your efforts you'll have done a lot better than most.
Hawke
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On Tue, 25 Nov 2008 14:33:57 -0800, "Hawke"

At least he's TRYING, not just sitting on his ass waiting for the government to take care of him. I say, go for it Terry. At least you may have some income, as opposed to no income.
Jim
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with
you
of
a
Easy for you to say. You aren't putting out a dime or risking anything. He's going to put in all his time and a lot of money. Odds are he'll lose it all. That's not being pessimistic that's just the reality of a new start up business. It's very risky. Most people that try it lose everything they put into it and they work for nothing. It's not for the faint hearted or the risk averse. Most people are much better off looking for a new job than risking everything they have on a business. It's sounds like a downer but that is the reality. Welcome to America.
Hawke
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On Tue, 25 Nov 2008 20:17:43 -0800, "Hawke"

Snag doesn't sound like "most people" to me. Many who fail have no previous experience, nevermind degrees in accounting and/or business, or even doing any homework. Hope is definitely not a strategy. It's clear to me that Snag understands that because he's reported some homework and quite likely done a lot more he hasn't reported.
You can't know what the odds are for his success without knowing a lot more details than have been presented. Percentage of failed ventures per year is a statistic that could be completely irrelevant here: it could just as well reflect percentage of attempts by people who skip due diligence and/or simply don't know enough about business to succeed.
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Don Foreman wrote:

Thank you !
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Snag
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Good luck!
If your e mail addy is good, I can send you a few basics on the major things to watch for, or post them here.
BTDT. Check for the local fire laws on releases, and where they are required. You can get in a boatload of trouble for that. All the rest of the stuff is small stuff you can solve or negotiate. If some gets fried to a crisp, you'll be neck deep in it, and the FD investigators and insurance agents will be crawling in your front yard at first light.
I did what you did when I left the hotel. Never looked back. Had my contractor's license in two months. There's a lot of advice here, so ask as you go along. Dance within the lines and be safe.
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SteveB wrote:

My reply-to is good , but there might be others that can profit from your insights too ...
I do need to check with local FD rules , I'm sure there are circumstances where I'll need a means to open from inside - without compromising security . For a start , though , I've got a couple of AC surrounds to bid . Condenser and window unit theft is a major problem here . That might turn out to be enough business to keep this going ...
--
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>

First Good luck in your start-up If you provide a good quality product, show up and get the job done, you won't have to worry about being the low bid.
About bars and releases, ck with your building dept or whatever entity issues permits and inspects the work. You need to know what building code is adopted in the places you want to work. Some states have a prevailing code and then the cities add to it or have a security code of their own. Next talk to an inspector and get his/her take on it, local interpretation is generally the final word. Some places the bars don't need a interior release unless they protect an Egress. The number& dimensions of and egress can be affected by several factors like: # of stories, distance from grade,# of apts in building and what type of fire protective systems are in place like hard wired smoke systems & sprinklers. The idea that you have to have 2 ways out of every room or apt sounds good but is not true. Unless the fire dept does inspections they may not know the correct answer. No firefighter likes window bars because they block a way for us to get out, but that doesn't mean that you can't have them. Another good source of info is Nomma, there used to be a section on their web site that delt with code issues.
Good luck
Andrew
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AndrewV wrote:

I've heard that before - because it's true . Might have ot let a few go a bit cheaper to get the word out though . A happy customer can be the best advertising you can get .

More good advice , thank you !
--
Snag
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On Wed, 26 Nov 2008 18:02:24 -0600, the infamous "Terry Coombs"

I strongly recommend against that, Terry. Once you set a price, discounts seem to be the rule and people will think you're trying to cheat them if your regular price is higher.
BTDT and got bitten for it.
--
Tomorrow is the most important thing in life. Comes into us at midnight
very clean. It's perfect when it arrives and it puts itself in our hands.
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Larry Jaques wrote:

Sometimes prices can be too low and prevent sales as well. I once worked with a friend selling stuff at a hamfest, we had a big box of perfect new Belden power cords marked $0.50/ea and they were not selling. We got pissed, marked them up to $1/ea and sold out.
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On Thu, 27 Nov 2008 09:41:48 -0600, the infamous "Pete C."

And in Robert Cialdini's book, _Influence_, the shop owner who left word with her saleswoman to halve the price due to lack of sales is another good story. The woman thought the note said to double the price (missed the 1/ in 1/2?) and the items sold out within the week at the 2X higher price.
Ed put me on to that book and I've quoted numerous items from it ever since. Highly recommended, and reading it could -literally- save your life. (Read Devictimizing Yourself in the Social Proof chapter.) http://tinyurl.com/66epbt
-- Our greatest glory is not in never falling, but in getting up every time we do. -- Confucius
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