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View Full Version : I won't give up my businesses - but need advice



muenzner
04-08-2015, 09:04 AM
Hello,

My name is Chris.

I always wanted to be an entrepreneur. There is no entrepreneur in my family. They all have jobs and have never been interested in entrepreneurship. I am the first entrepreneur in the family. I always wanted to build something, to be in charge, to decide everything, to create my own job, to be responsible of every aspect of my job in its entirety. My wife and family were never supportive towards my business. I have often been told that I should stop all this and give up.

It started in 2010. I was employed by a small company in IT and I was impressed by my bosses, the owners of the business. There were two bosses, they were a little older than me, and were also technicians. In fact, they did the same job than us, plus administrative tasks. It was quite fun and it was the kind of company I wanted. But I hated the fact that they treated me as a simple employee and I was often reminded that I had no decision-making power. One day, of the owners announced that he was leaving to form another company. The remaining owner then found a new business partner. I hated the new guy so much!. It was time for me to find another job.

I had a job interview with a company that specialized in telecommunications equipment installation at cell tower sites. Wow, that was my dream job! I always wanted to work in this field, but I never had the chance to do so. A few days after the interview, they called me to tell that I have the job. Guess what? I declined the offer. The pay was way too low. I would not have been able to pay my mortgage with a salary this low!

Then it happened very quickly. I had an idea: to become a cell tower contractor. I was still in the employ of another IT company. For a few weeks, while I was at work, I logged into my home computer and worked on the preparation of my business. Nights and weekends too. I had no real business plan. I've registered the business name, insurance, website, phone number, mail box, vehicle lettering, business cards, you name it. Business image was there. Everything was there. Bought tools, stocks. I was ready to go.

So I contacted potential customers, the tower owners. They were interested. In fact, after just a few weeks, I have travelled to dozens cell towers all over the state. I started working 3 weekdays for my day job and 2 weekdays/all weekend for my business. I had enough work to keep me busy from May till October. Then it went silent until next year.

The following years, I traveled to hundreds telecommunication facilities all over the state. It satisfied me. And it pays good, my rates are very competitive. Unfortunately, I still need to keep my job day because I was not making enough money to make the payments for the rest of the year.

As of 2013, I was finally working FULL TIME for my business for more than half of the year! Until December. Rest of the year, I came back to my day job... I had not resigned, only left temporarily.

When I came back to the day job, I couldn't bear it. I just couldn't.

In order to work full time for my business, I started a new business. IT services for SMBs. I had a few contracts but nothing big. Just another check in the mailbox but no enough to leave my job. No financial security.

IT service companies are everywhere and it is very difficult to be competitive and offer an original product. So i still offer these services.

I recently started a third business. Commercial buildings maintenance, commercial lawn mowing, snow removal. I already have all the tools, tractor with snow blower, mowers,...

So right now, today, I am currently sitting at my day job, in front of a computer, logged on to my home computer. I am trying to figure out what should I do next. I'm sending hundreds of cold emails to potential customers. People do reply. « Sorry, we already have someone else ».

I only know that in a few weeks, I'll receive a few emails with a big list of cell towers that I need to visit in the following months. I love doing that, but I just can't find any clients that will give me contracts for the rest of the year.

This is depressing but I won't give up. But I need some advice. What should I do?

Thank you.
Chris.

Freelancier
04-08-2015, 11:03 AM
Half of all businesses fail in the first year because they run out of money. Often because they never started with enough cash in reserves to tide them over through the rough patch that inevitably comes.

You went into an industry where the starting pay isn't enough to live. So the odds of you making enough to live is not good.

Then you added another business, but you're so busy doing everything else that you don't have time to market/sell either business now. And so things stay slow.

Then you added a completely unrelated labor intensive business that sucks up more time without good pay. What could go wrong?

My recommendation is to stop playing around with all those businesses and go find a "real" job and learn about running a business while someone pays you to do that. THEN when you have enough in the bank to live for months at a time without income while still selling your business, start a new business where you get paid a lot to work a little instead of the other way around.

It's not "giving up" either. It's "putting yourself in a position to succeed".