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Brazos Valley | I am self employed and have been since 2017. I now have four full time employees. The lowest paid is $45k a year and the highest about $70k, not including benefits. Benefits are full health insurance paid by me, $50/mo lunch allowance, $50/mo cell phone allowance, uniforms, and one of them gets a take home vehicle.
In my business I try to teach them the costs of doing business, I share the trouble and the joy of winning and losing bids, I explain the issues of cash flows, I share income when we’re doing well. I saw a quote (on Facebook lol) that said “teach them so that they can leave, treat them well enough they don’t” and that’s truly what I’m trying. The last thing I would want is one of my former employees becoming a competitor of mine and being absolutely terrible. My old boss was extremely proud when I opened my company (he had already sold his) and I’ve gotten more work from his referrals than I could ever drum up on my own.
It’s been a wild ride owning this business and we’ve beaten a lot of the odds so far. Every year we’ve grown our gross sales number by 30% and this year was no exception.
Opening my business with $1,200 to my name, two young kids, a wife, and all the debt of college and life was not something a normal person should do. There were many weeks that first year where our credit card kept us fed, but I never stopped working, paid off the debt when I did have cash, worked harder than most, and now 7 years later I’m finally starting to be able to not put in 50 hour weeks. I still don’t have it figured out but I haven’t let up the pursuit of growth. My family and I are truly blessed and we are thankful for the work we’ve been given.
My advice to the younger crowd is to learn a strong work ethic and then find work that you enjoy a little. Don’t try and keep up with your friends toy chest. Out at least 6 months living expenses in a savings account. If you’re single and you either live at home and save on rent or share a house with others to lessen that loss. As soon as you’re able buy a house and then rent to others to pay your mortgage until the right spouse comes along. Then sell that house or kick out the roommates and you’ll be thousands ahead of your peers. My six year old just asked me at bed time “dad do you have to go to college to work at the factory that has the steam and makes electricity?”, I replied no there are a lot of good jobs there that don’t require a degree, he responded “whew, I’m glad, I really want to work there to see all that cool machinery and I didn’t want to get beat up at college”. I’m pretty sure he meant beat up with student debt lol.
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offshoot from last thread
