owning your own company?

[VetNutJim]

I had the Lear in Memphis a few years ago. I don't remember if I bought fuel there, though.
And here I thought pilots had a strange schedule. My schedule was whenever the phone rang, and I heard the dispatcher's voice...

Gosh danged it !! If you're making enough dough to support a Lear, I want to read YOUR book!

Back in another lifetime, when I flew a Lear (25D s/n 331) those CJ610's burned almost more money in fuel from the time I started it up until we got to the runway for takeoff than I made in 6 months (almost ).

[jasonjames]

I'm in the final stages of acquiring my HVAC license. I think 10 years is too long for you to wait. You will regret not owning your own company sooner. My state requires only 4 years experience and 2 of those years can be substituted by education. Start your company asap. A major barrier for many is criminal history, so if your criminal record is clean, you have a great shot.

[wolfstrike]

I'm in the final stages of acquiring my HVAC license. I think 10 years is too long for you to wait. You will regret not owning your own company sooner.

you make it sound like owning your own business is all fan and games.

My state requires only 4 years experience and 2 of those years can be substituted by education. Start your company asap. A major barrier for many is criminal history, so if your criminal record is clean, you have a great shot.

it's easier getting a contractor's licence with a criminal history(if you meet experience requirments) than it is to get a job in the field with that same history.

[mustardman]

I'm in the final stages of acquiring my HVAC license. I think 10 years is too long for you to wait. You will regret not owning your own company sooner. My state requires only 4 years experience and 2 of those years can be substituted by education. Start your company asap. A major barrier for many is criminal history, so if your criminal record is clean, you have a great shot.

Well here is your problem two years of school two years in the field and quite frankly you wont have the experience or knowledge to be any good. Being inexperienced will not make for a very profitable company

[adamste81]

Well here is your problem two years of school two years in the field and quite frankly you wont have the experience or knowledge to be any good. Being inexperienced will not make for a very profitable company

I agree. Nothing against the guy who said he is ready to start his business after only 2 years in the field....if he thinks he can do it then more power to him. I personally will wait longer and for more hands on experience than just 2 years to feel more comfortable and profitable to start my own company.

[bjones]

[QUOTE=mustardman;3904602]

Well here is your problem two years of school two years in the field and quite frankly you wont have the experience or knowledge to be any good.

If the two years in school and two years in the field refers to his technical training experience and not his business training experience then I go along with your assertion that he may not be any good in personally performing the technical work that his business does; but it has nothing to do with his ability to run a profitable company. In fact, it's just the opposite, his lack of technical experience puts him in a better position to be successful in his own buisness.

Being inexperienced will not make for a very profitable company

Again, technical knowledge is not necessary to run a profitable business. It is a misconception that technical knowledge is necessary to become successful in this business. In fact, it is almost always a distraction, an excuse, a hindrance brought on by misunderstanding what really needs to be done to run a successful (profitable) business.

[adamste81]

[QUOTE=bjones;3906122]

If the two years in school and two years in the field refers to his technical training experience and not his business training experience then I go along with your assertion that he may not be any good in personally performing the technical work that his business does; but it has nothing to do with his ability to run a profitable company. In fact, it's just the opposite, his lack of technical experience puts him in a better position to be successful in his own buisness.



Again, technical knowledge is not necessary to run a profitable business. It is a misconception that technical knowledge is necessary to become successful in this business. In fact, it is almost always a distraction, an excuse, a hindrance brought on by misunderstanding what really needs to be done to run a successful (profitable) business.

i am just curious with being new in this business how do you say that lack of experience in HVAC is actually helpful in starting your own HVAC business?

in the tile business if you went to start your own business with no knowledge of the material or how to lay tile or marble trust me you would not be profitable. The only way you would be is if you sub contracted the work out, is that what you are saying he should do in HVAC?

[GinyaM]

I started my own company last year, but I went into it with a plan and backup (for the slow seasons). Business is good, I even had to hire a full time employee and a part-time one.

[mustardman]

[QUOTE=adamste81;3907752]

i am just curious with being new in this business how do you say that lack of experience in HVAC is actually helpful in starting your own HVAC business?

in the tile business if you went to start your own business with no knowledge of the material or how to lay tile or marble trust me you would not be profitable. The only way you would be is if you sub contracted the work out, is that what you are saying he should do in HVAC?

Thats funny the quote with my name at the top made me wonder did a search and realized I didn't say it had me going for a while.

[quickcat46]

The idea of running your own company is a lure to all of us who see a better way. I am just starting my own with 6 years experience, I was a superintendent who ran big chemical / refining type construction jobs before this. I believe while I may not be the best tech, I am a knowledgeable. I do bring a whole lot of other skills to the table.
Knowledge of contracts and scheduling, the ability to know when to ask for help. Having a ego and thinking one has all the answers has killed more small business' than anything else.
I read earlier about a coach for business and I may very well need one. The advertising knowledge and business contacts one must have to be successful is no small task.
But I believe in what is often stated here, that it all starts with customer relations. Treat your customer honestly and don't look for the quick buck.
Oh and reinvest, reinvest, reinvest.

[jumpit]

I would just like to say this is a great post to read, and I have gotten alot of good answers from it. I am sure several people will benefit from this post.

[Sammer VII]

I know this may be a little too intimate to some, but realistic expectations of yearly or monthly income for owning your own business is what? I have heard anywhere from 50 to 1000000... So that really doesnt say anything. Im guessing the average Contractor makes 150000 to 200000 a year... am I way off ? close ? Im located in Dallas Texas so we can hopefully keep this relative. After all why would you want the headache of owning your business if it wasnt double or triple what you make working for someone.

[Dowadudda]

[QUOTE=bjones;3906122]

If the two years in school and two years in the field refers to his technical training experience and not his business training experience then I go along with your assertion that he may not be any good in personally performing the technical work that his business does; but it has nothing to do with his ability to run a profitable company. In fact, it's just the opposite, his lack of technical experience puts him in a better position to be successful in his own buisness.



Again, technical knowledge is not necessary to run a profitable business. It is a misconception that technical knowledge is necessary to become successful in this business. In fact, it is almost always a distraction, an excuse, a hindrance brought on by misunderstanding what really needs to be done to run a successful (profitable) business.

I would humbly and kindly ask you to really explain this in detail. For me and everyone else. I think you have a lot to offer. I need to see it from another perspective so I can digest both sides. We technical guys always want to be in business because of our technical expertise.

We reach a certain level and we say, "well, I am better than anyone at my shop, I am ready". I was not and have done it twice to only give it up because of the fact I did not have any real clarity to my plan. I had some customers who said "were with you". I said. "how can I go wrong". I held myself above water and did okay, but I never really got the thing where it should have been.

SO please. Tell me if not anyone else.

As far as biz goes and who desires to. Here is my take on this. This is mother effin America. Gol Darn it all. This trade is opportunity every where. SO. Every guy with a desire for anything would naturally think that "down the road I want to try". And you know what? For anyone and everyone who wants to or has tried God Love ya and God speed. I can tell you, the guy your working for now, he was there too. He was absolutely the guy at one time thinking the same thing you are. And he knows that your thinking it.

[jpsmith1cm]

Again, technical knowledge is not necessary to run a profitable business. It is a misconception that technical knowledge is necessary to become successful in this business. In fact, it is almost always a distraction, an excuse, a hindrance brought on by misunderstanding what really needs to be done to run a successful (profitable) business.

I'm no business man, but here is MY take on this.

Running a business and being a technician require two different mindsets. Two different ways of thinking.

If you are a good technician, you will be more apt to let the small details of business slip by while you are busy in the field attending to the small mechanical details. If you have no technical knowledge and know it, you will hire people that have the technical knowledge to do that job while you manage your business.

This is the biggest reason that I will not strike out on my own in business. I am a very good technicain. That is how my brain is wired. Business is a totally different and alien thing to me. Give me a sick machine and a set of gauges and I'm a happy guy.

[tyreman]

I owned my own company and with my step dad from '75-'98
But by that time in the "business" you want to run from the truck!!
If you are small your time is never your own.

[Some Dude]

I would like to thank everybody who contributed to this thread. I am going through the transition from working in to working on my company as well. I have had the opportunity to speak with one of the mods on the phone who offered great advise that i am following,thanks b.

[grasshopper]

WOW............. when I grow up I want to be like HIM!
Congrats! I am your grasshopper!

Back off thats my name!!

[jasonjames]

currently 15+ yr on my own (1 man op)
I was 45 when I started it.
I have worked in SERVICE for 22 yr prior to that.

so that makes you... 110 years old? (just kidding).

[bjones]

[QUOTE=Dowadudda;3924542]

I would humbly and kindly ask you to really explain this in detail. For me and everyone else. I think you have a lot to offer. I need to see it from another perspective so I can digest both sides. We technical guys always want to be in business because of our technical expertise.

We reach a certain level and we say, "well, I am better than anyone at my shop, I am ready". I was not and have done it twice to only give it up because of the fact I did not have any real clarity to my plan. I had some customers who said "were with you". I said. "how can I go wrong". I held myself above water and did okay, but I never really got the thing where it should have been.

SO please. Tell me if not anyone else.


As far as biz goes and who desires to. Here is my take on this. This is mother effin America. Gol Darn it all. This trade is opportunity every where. SO. Every guy with a desire for anything would naturally think that "down the road I want to try". And you know what? For anyone and everyone who wants to or has tried God Love ya and God speed. I can tell you, the guy your working for now, he was there too. He was absolutely the guy at one time thinking the same thing you are. And he knows that your thinking it.

Absolutely! I have every intent to do just that. Please give me until tomorrow (Sunday) to get it posted. I'm not sure why Dowadudda name is at the top; it should be bjones. Not that it really matters I just don't him to be held respondsible for I say.

Thanks for your patience.

Bill

[HVACSvc08]

I would like to own my own company someday. My take on it is that of it is in your heart and you are determined to start up your own shop, go for it. You might fail in 2yrs or who knows you might have a very successful company but you will never know if you don't try.