Small businesses—your experiences?

[Indylady]

Hi friends! I’ve been thinking of starting a small business or getting serious about a side hobby like writing, but despite thinking and dreaming I haven’t been able to get going—a ‘failure to launch’ as another poster put it in a thread recently. I guess I’m scared of failure; and so many things that I could do from home (collecting antique jewelry, anything hand craft related—soaps, candles, beading etc.) have very saturated markets, and the more creative ventures like writing are also so competitive and challenging to ‘make it’. Any advice or ideas? Do you have a small business, and would you do it again? Did you ever fail, and did you keep trying?

 

[lyra]

We technically still have our"home business". It wasn't very profitable and oh man the tax people have not been happy about anything regarding that business. But I live in Canada.

I always think it's better to try and fail, than to never try. You just never know. Maybe it would make your quality of life better. If you are a writer, you just must write, whether it is profitable or not, you need to satisfy your creative energy somehow. Writers must write.

 

[yssie]

I don't subscribe to the your job should be your hobby philosophy. I think there can be real value to keeping a hobby a hobby - that is, a pursuit driven solely by passion and that's unencumbered by "realities" of financial concerns. For many people... doing something one loves just because one loves it is different from doing that same thing in a context wherein one's health, welfare, or quality of life are impacted by "whether or not I succeed"... I think for many people the stresses of the impact of "success" - or lack thereof - can and do impact enjoyment of the activity itself.

I'm that sort of person. I'll never turn diamonds into a career because for me that change of perspective would steal some of its magic. But what type of person are you?

 

[paperunicorn]

I am a freelance illustrator, writer, and film critic and I also have an online vintage clothing business. If you are currently doing these things as a side hobby, I would just caution you that turning it into a business will inevitably decrease your enjoyment of it as well as require you to put MUCH more work and time in. I thought since I collected vintage clothing that I could just sell it off pretty easily...well, it turned into a 40-hour-a-week job between picking, photographing, listing, selling, shipping...and after a couple of years I've decided to scale back for the sake of my wallet and my sanity.

In addition, online platforms like Etsy and Instagram have been altering their algorithms to decrease visibility and engagement unless you have lots of followers and purchase lots of ads, which makes it very hard to grow a small business. I went from 0 to about 1500 followers in a year and since that have been struggling to get up to 1800.

If you need additional cash and are willing to put in the sweat equity, go for it. Otherwise, I think good advice is that the value your hobbies have does not need to be monetized, its value is the joy it brings you.

 

[yssie]

the value your hobbies have does not need to be monetized, its value is the joy it brings you.

Love this sentiment. Exactly what I was trying to say as well, worded very eloquently.

 

[Indylady]

I don't subscribe to the your job should be your hobby philosophy. I think there can be real value to keeping a hobby a hobby - that is, a pursuit driven solely by passion and that's unencumbered by "realities" of financial concerns. For many people... doing something one loves just because one loves it is different from doing that same thing in a context wherein one's health, welfare, or quality of life are impacted by "whether or not I succeed"... I think for many people the stresses of the impact of "success" - or lack thereof - can and do impact enjoyment of the activity itself.

I'm that sort of person. I'll never turn diamonds into a career because for me that change of perspective would steal some of its magic. But what type of person are you?

I should note that I love my day job and wouldn’t abandon it—that’s my career. I’m interested in starting a business as a side project to have a bit of challenge—it doesn’t have to be related to a hobby, but if it were to be, at least I have some familiarity with that kind of work.

ETA: Meant to add, definitely a good point to consider, and one I’ll think over.

I’m posting on the go and will get back in more depth soon thanks for taking the time to write!

 

[YadaYadaYada]

I started a small business last year on Etsy selling vintage (mainly toys). Mind you that wasn't really the goal, the goal originally was to sell vintage jewelry but the buyers spoke and said they wanted toys so there you go. You have to find your niche and not sell people what they don't want to buy, that was a big lesson I learned.

The term small business is rather misleading, there is so much that goes into it like making sure you have the proper license for selling of goods, filing reports (in my state monthly) to report any sales tax etc. Also there is the time factor, there is so much time that goes into having your own business in the beginning it can consume you BUT if you are doing something you truly enjoy then you don't mind or at least that's been true for me.

It may not be the best business advice but I say if you really want it then go for it, even if my business had failed I could honestly say I learned so much in the process.

 

[Indylady]

I am a freelance illustrator, writer, and film critic and I also have an online vintage clothing business. If you are currently doing these things as a side hobby, I would just caution you that turning it into a business will inevitably decrease your enjoyment of it as well as require you to put MUCH more work and time in. I thought since I collected vintage clothing that I could just sell it off pretty easily...well, it turned into a 40-hour-a-week job between picking, photographing, listing, selling, shipping...and after a couple of years I've decided to scale back for the sake of my wallet and my sanity.

In addition, online platforms like Etsy and Instagram have been altering their algorithms to decrease visibility and engagement unless you have lots of followers and purchase lots of ads, which makes it very hard to grow a small business. I went from 0 to about 1500 followers in a year and since that have been struggling to get up to 1800.

If you need additional cash and are willing to put in the sweat equity, go for it. Otherwise, I think good advice is that the value your hobbies have does not need to be monetized, its value is the joy it brings you.

Wow! Would you say social media is a big part of your side businesses? I’d briefly considered that but not thought it was so huge.

 

[paperunicorn]

Wow! Would you say social media is a big part of your side businesses? I’d briefly considered that but not thought it was so huge.

It is a huge part, yes. In order to be able to sell stuff, people need to know about your business. And by and large, the way people find out about new businesses is through social media. On the creative side of things, unless you are doing something like technical writing or medical illustration, which is a very specific field in which there isn't a lot of competition, you won't be able to just seek businesses out and get work.

To put it into perspective, I have 8,000 followers on one social media site for my illustration business. But because that social media site fell out of vogue, my posts don't reach many of them anymore, maybe 500 at most. I wrote several grant applications, submitted my work to many contests, and applied to several in-house positions last year and unfortunately none came through. For the creative business in particular, it's rough out there.

 

[Gussie]

I love all kinds of hobbies. Home decor is a passion of mine. I have been offered a few jobs in the field but I just couldn't do it for several reasons. 1) my family and how our lives are set just doesn't allow the time. 2) I really want to continue tweaking my own home. If you don't have similar taste as mine and have strict budgets, I don't think I would fit. I had a booth in an antique shop once and it wasn't much fun. Margins are so low and hagglers suck the life out of it. I decided long ago, my hobbies are for me.

 

[strawrose]

(Assuming you are from the U.S.) If you are trying to make money off of a hobby, just make sure you have enough evidence to write off expenses to the IRS. They may audit you if they determine it’s just a hobby.

 

[Miss Marple]

Are there any reasons why you'd like to start a side hustle other than "challenge"? Any business really takes quite a lot of determination and time to make it work. My observation is that many people who have a small business side hustle (and many others who have a small business as their livelihood) do it because they love what they do enough enough to put up with the hassles of the administrative and other work that is necessary but peripheral to the core business. Many also find that their actual hourly pay is something less than minimum wage.

Not trying to be a downer, but It doesn't sound like you've identified anything that you're passionate enough about to make a side business worth the challenge.

hobbies can be a great challenge. I used to think that if I invested in a hobby, I was being flaky for abandoning it at a later time. I then realized that each time I've had an interest and invested time and money, I've enriched my life in some way and no guilt over moving on to the next thing.

 

[SandyinAnaheim]

Hi friends! I’ve been thinking of starting a small business or getting serious about a side hobby like writing, but despite thinking and dreaming I haven’t been able to get going—a ‘failure to launch’ as another poster put it in a thread recently. I guess I’m scared of failure; and so many things that I could do from home (collecting antique jewelry, anything hand craft related—soaps, candles, beading etc.) have very saturated markets, and the more creative ventures like writing are also so competitive and challenging to ‘make it’. Any advice or ideas? Do you have a small business, and would you do it again? Did you ever fail, and did you keep trying?

Hi Indy! This is a great question, and I have a slightly different perspective. I'll give you a less-than-brief history, and I hope it helps you somehow. This is more about following your passion, rather than pursuing a hobby.

I am the first generation offspring of blue collar workers. My first memories are of our family dog laying by my crib, and I was attached to him like a sibling. I have always had a very deep connection with animals that I won't get into here. Ever since I can remember, I've wanted to be with and work with animals, but my parents wanted me to work in air conditioning in an office doing something with my brain, so I would be better than them. I ended up working in law firms because that was the most money I could make in a clerical environment. I pursued a degree in paralegal studies and accounting and worked my way up the ladder into management.

In the late 1990s, my parents started an online cigar business during the cigar boom and were able to sustain themselves from that business. They asked me to build them a website and consequently, I learned the business. I started buying and reselling exotic and impossible to get cigars in 2000 with $1k from a spare bedroom. By the end of the first year I had $150k in sales and was exploding out of my house. By year two, I quit the legal field and devoted myself to this business and had $500k in sales. I proceeded to open a B&M cigar shop and things went well...for a while. In 2005 I started to feel the effects of the upcoming crash. My wealthy clients were losing their jobs and nearly overnight, my sales went from $40k/mo to less than $5k/mo, and then to nothing. By 2008 I had lost my home trying to save my business, and then lost my business, and was literally <60 days away from being homeless. This was a devastating loss of epic proportions and I swore I would NEVER work for myself again. It was really hard getting back into the legal field with such a long hiatus, but I did at less than half of what I made before.

In 2011 I moved to California to be with my husband, then fiance. I became employed in the legal field less than a week after arrival, but things are not the same here as in Florida. I held 5 different legal positions between 2011 and 2015 with each boss being worse and more corrupt than the last. In 2015, at the age of 49, I started seriously considering changing careers. I knew in my heart that I wanted to work with animals, but what could I possibly do that would sustain me and wouldn't require 5+ years of training? After about 8 months of research, I settled on pet grooming.

I quit my job and started grooming school. My husband had "pretended" to be on board with the idea until I actually did it. The pretense came to an abrupt end, no matter what I told him of the results of my research and that I would be nearly the only person serving North Orange County by going mobile. He predicted I would fail and lose all of my time and investment and that I would become dependent upon him. The complete and utter lack of support for my endeavor devastated our relationship and it hasn't been repaired. But I knew that if I wanted a change for MY LIFE, the only person who could do it for me, is me.

I decided to try having another business, a service business rather than buying and selling. I bought a brand new $100k grooming van and with not a single client, donated my time to local rescues and homeless people's pets - and no social media presence. Just by being out there and word of mouth, I was able to get enough business in the first month to make both the van and insurance payments. Within 6 months I was about 50% booked for the year, and within a year, I stopped taking new clients.

Animals are my passion, not my hobby. It is hard and dirty work, but I will tell you the most beautiful truth. I have never felt more appreciated by so many people than I have in the past few years. I am doing something every day that I LOVE beyond words, working with pets. Pet parents adore me, because their pets adore me. I work with pets because I GENUINELY LOVE them, and everyone can see and feel it. I have enough people begging me to service them to be running 3-4 vans, but I can't find anyone with my sensitivity and empathy for pets, and so it is just me.

That old adage of do what you love and you'll never work a day in your life has turned out to be true for me. That's not to say that it's easy even though you love what you are doing. My choice is still physical labor, and as such, can be tiring many days, especially when you can't say no to the sad stories people have of prior experiences. But I wouldn't trade my lowly dirty job for any other. It satisfies my soul in ways I cannot express, every day, and I will continue to do this past retirement until I can't hold shears anymore.

I have listened to MANY business related podcasts that talk about the benefits of having a side hustle. Once it is developed, if something were to happen to your "day job", you have something else to rely on till you figure out what to do next. Wayne Gretzky once said "You miss 100% of the shots you don't take." In other words, you can't succeed unless you try, and that means you have to take a chance. It is easier to do nothing and not risk failure because it is scary to start something. You put yourself, your money and your reputation in jeopardy. But if you don't try, you'll never start anything. As @lyra said, it's better to try and fail, than to never try. Failure, as hard as it may be, is also one of the greatest learning experiences. And doing things in spite of your fear, while you're actually fearing it, is called courage.

My suggestion to you is to dig deep and figure out what YOU really love, what "thing" you would be doing if you had the freedom and finance to pursue it without worrying about the future. Then you need to determine if there is a need for that "thing" in your community. This doesn't mean what would you be doing to make the most money. The money will come when you're passionate about what you are doing and others recognize it, it can't be faked. Lastly, you need to develop a plan to get that "thing" started. Start with baby steps and intention, and you will figure out how to achieve that which you desire. But if you don't put yourself out there to get it going, it won't fall from the sky into your lap - you have to go get it and believe that you can do it.

So to answer your questions, yes, I have tried and failed, and yes, I did it again. Was I afraid? You betcha. No support and outright contempt from my husband, and friends thinking I was crazy to give up a paycheck to strike out on my own. But I believed I could do it, and the more people said I couldn't, or shouldn't, the more determined I became to prove to them and myself that I very well could. Watch. Did it work? Let me put it this way, I could never afford the luxury of diamonds before, but I can now.

I apologize for the length of this essay, but this is one of the better questions I've seen on PS and thought my story might inspire you to try to follow YOUR OWN PASSION.

 

[monarch64]

I hail from family businesses (that's what we call 'em) and am now self-employed, fulfilling my dream of never answering to anyone except myself. I don't sell a product, though, and I don't have a store front. I write, and I manage projects from afar, and I love it!

My family ran general stores, restaurants, but those were not the actual money-makers. They had real estate, and the land they rented out to major corporations (think chain joints in a small town--someone owns the land those buildings sit on) was a very lucrative investment. My advice to you is not to deal with running a business (thought it's so romantic and seems like fun!) but to start buying up property. Far less glamorous, but investment-wise you'll see returns much faster than going into retail.

Small business, i.e. setting up shop with a hobby and a dream? Everyone wants to do it, and it's a great thing, but it just isn't sustainable unless you have a ton of capital up front and a product with very high margin and the ability to (financially) basically sit on the bench the first few years.

 

[bludiva]

Hi Indy! This is a great question, and I have a slightly different perspective. I'll give you a less-than-brief history, and I hope it helps you somehow. This is more about following your passion, rather than pursuing a hobby.

I am the first generation offspring of blue collar workers. My first memories are of our family dog laying by my crib, and I was attached to him like a sibling. I have always had a very deep connection with animals that I won't get into here. Ever since I can remember, I've wanted to be with and work with animals, but my parents wanted me to work in air conditioning in an office doing something with my brain, so I would be better than them. I ended up working in law firms because that was the most money I could make in a clerical environment. I pursued a degree in paralegal studies and accounting and worked my way up the ladder into management.

In the late 1990s, my parents started an online cigar business during the cigar boom and were able to sustain themselves from that business. They asked me to build them a website and consequently, I learned the business. I started buying and reselling exotic and impossible to get cigars in 2000 with $1k from a spare bedroom. By the end of the first year I had $150k in sales and was exploding out of my house. By year two, I quit the legal field and devoted myself to this business and had $500k in sales. I proceeded to open a B&M cigar shop and things went well...for a while. In 2005 I started to feel the effects of the upcoming crash. My wealthy clients were losing their jobs and nearly overnight, my sales went from $40k/mo to less than $5k/mo, and then to nothing. By 2008 I had lost my home trying to save my business, and then lost my business, and was literally <60 days away from being homeless. This was a devastating loss of epic proportions and I swore I would NEVER work for myself again. It was really hard getting back into the legal field with such a long hiatus, but I did at less than half of what I made before.

In 2011 I moved to California to be with my husband, then fiance. I became employed in the legal field less than a week after arrival, but things are not the same here as in Florida. I held 5 different legal positions between 2011 and 2015 with each boss being worse and more corrupt than the last. In 2015, at the age of 49, I started seriously considering changing careers. I knew in my heart that I wanted to work with animals, but what could I possibly do that would sustain me and wouldn't require 5+ years of training? After about 8 months of research, I settled on pet grooming.

I quit my job and started grooming school. My husband had "pretended" to be on board with the idea until I actually did it. The pretense came to an abrupt end, no matter what I told him of the results of my research and that I would be nearly the only person serving North Orange County by going mobile. He predicted I would fail and lose all of my time and investment and that I would become dependent upon him. The complete and utter lack of support for my endeavor devastated our relationship and it hasn't been repaired. But I knew that if I wanted a change for MY LIFE, the only person who could do it for me, is me.

I decided to try having another business, a service business rather than buying and selling. I bought a brand new $100k grooming van and with not a single client, donated my time to local rescues and homeless people's pets - and no social media presence. Just by being out there and word of mouth, I was able to get enough business in the first month to make both the van and insurance payments. Within 6 months I was about 50% booked for the year, and within a year, I stopped taking new clients.

Animals are my passion, not my hobby. It is hard and dirty work, but I will tell you the most beautiful truth. I have never felt more appreciated by so many people than I have in the past few years. I am doing something every day that I LOVE beyond words, working with pets. Pet parents adore me, because their pets adore me. I work with pets because I GENUINELY LOVE them, and everyone can see and feel it. I have enough people begging me to service them to be running 3-4 vans, but I can't find anyone with my sensitivity and empathy for pets, and so it is just me.

That old adage of do what you love and you'll never work a day in your life has turned out to be true for me. That's not to say that it's easy even though you love what you are doing. My choice is still physical labor, and as such, can be tiring many days, especially when you can't say no to the sad stories people have of prior experiences. But I wouldn't trade my lowly dirty job for any other. It satisfies my soul in ways I cannot express, every day, and I will continue to do this past retirement until I can't hold shears anymore.

I have listened to MANY business related podcasts that talk about the benefits of having a side hustle. Once it is developed, if something were to happen to your "day job", you have something else to rely on till you figure out what to do next. Wayne Gretzky once said "You miss 100% of the shots you don't take." In other words, you can't succeed unless you try, and that means you have to take a chance. It is easier to do nothing and not risk failure because it is scary to start something. You put yourself, your money and your reputation in jeopardy. But if you don't try, you'll never start anything. As @lyra said, it's better to try and fail, than to never try. Failure, as hard as it may be, is also one of the greatest learning experiences. And doing things in spite of your fear, while you're actually fearing it, is called courage.

My suggestion to you is to dig deep and figure out what YOU really love, what "thing" you would be doing if you had the freedom and finance to pursue it without worrying about the future. Then you need to determine if there is a need for that "thing" in your community. This doesn't mean what would you be doing to make the most money. The money will come when you're passionate about what you are doing and others recognize it, it can't be faked. Lastly, you need to develop a plan to get that "thing" started. Start with baby steps and intention, and you will figure out how to achieve that which you desire. But if you don't put yourself out there to get it going, it won't fall from the sky into your lap - you have to go get it and believe that you can do it.

So to answer your questions, yes, I have tried and failed, and yes, I did it again. Was I afraid? You betcha. No support and outright contempt from my husband, and friends thinking I was crazy to give up a paycheck to strike out on my own. But I believed I could do it, and the more people said I couldn't, or shouldn't, the more determined I became to prove to them and myself that I very well could. Watch. Did it work? Let me put it this way, I could never afford the luxury of diamonds before, but I can now.

I apologize for the length of this essay, but this is one of the better questions I've seen on PS and thought my story might inspire you to try to follow YOUR OWN PASSION.

Just reading this I can see why your clients love you. What a wonderful story and i wish you many happy years in this career.

 

[yssie]

Hi Indy! This is a great question, and I have a slightly different perspective. I'll give you a less-than-brief history, and I hope it helps you somehow. This is more about following your passion, rather than pursuing a hobby.

I am the first generation offspring of blue collar workers. My first memories are of our family dog laying by my crib, and I was attached to him like a sibling. I have always had a very deep connection with animals that I won't get into here. Ever since I can remember, I've wanted to be with and work with animals, but my parents wanted me to work in air conditioning in an office doing something with my brain, so I would be better than them. I ended up working in law firms because that was the most money I could make in a clerical environment. I pursued a degree in paralegal studies and accounting and worked my way up the ladder into management.

In the late 1990s, my parents started an online cigar business during the cigar boom and were able to sustain themselves from that business. They asked me to build them a website and consequently, I learned the business. I started buying and reselling exotic and impossible to get cigars in 2000 with $1k from a spare bedroom. By the end of the first year I had $150k in sales and was exploding out of my house. By year two, I quit the legal field and devoted myself to this business and had $500k in sales. I proceeded to open a B&M cigar shop and things went well...for a while. In 2005 I started to feel the effects of the upcoming crash. My wealthy clients were losing their jobs and nearly overnight, my sales went from $40k/mo to less than $5k/mo, and then to nothing. By 2008 I had lost my home trying to save my business, and then lost my business, and was literally <60 days away from being homeless. This was a devastating loss of epic proportions and I swore I would NEVER work for myself again. It was really hard getting back into the legal field with such a long hiatus, but I did at less than half of what I made before.

In 2011 I moved to California to be with my husband, then fiance. I became employed in the legal field less than a week after arrival, but things are not the same here as in Florida. I held 5 different legal positions between 2011 and 2015 with each boss being worse and more corrupt than the last. In 2015, at the age of 49, I started seriously considering changing careers. I knew in my heart that I wanted to work with animals, but what could I possibly do that would sustain me and wouldn't require 5+ years of training? After about 8 months of research, I settled on pet grooming.

I quit my job and started grooming school. My husband had "pretended" to be on board with the idea until I actually did it. The pretense came to an abrupt end, no matter what I told him of the results of my research and that I would be nearly the only person serving North Orange County by going mobile. He predicted I would fail and lose all of my time and investment and that I would become dependent upon him. The complete and utter lack of support for my endeavor devastated our relationship and it hasn't been repaired. But I knew that if I wanted a change for MY LIFE, the only person who could do it for me, is me.

I decided to try having another business, a service business rather than buying and selling. I bought a brand new $100k grooming van and with not a single client, donated my time to local rescues and homeless people's pets - and no social media presence. Just by being out there and word of mouth, I was able to get enough business in the first month to make both the van and insurance payments. Within 6 months I was about 50% booked for the year, and within a year, I stopped taking new clients.

Animals are my passion, not my hobby. It is hard and dirty work, but I will tell you the most beautiful truth. I have never felt more appreciated by so many people than I have in the past few years. I am doing something every day that I LOVE beyond words, working with pets. Pet parents adore me, because their pets adore me. I work with pets because I GENUINELY LOVE them, and everyone can see and feel it. I have enough people begging me to service them to be running 3-4 vans, but I can't find anyone with my sensitivity and empathy for pets, and so it is just me.

That old adage of do what you love and you'll never work a day in your life has turned out to be true for me. That's not to say that it's easy even though you love what you are doing. My choice is still physical labor, and as such, can be tiring many days, especially when you can't say no to the sad stories people have of prior experiences. But I wouldn't trade my lowly dirty job for any other. It satisfies my soul in ways I cannot express, every day, and I will continue to do this past retirement until I can't hold shears anymore.

I have listened to MANY business related podcasts that talk about the benefits of having a side hustle. Once it is developed, if something were to happen to your "day job", you have something else to rely on till you figure out what to do next. Wayne Gretzky once said "You miss 100% of the shots you don't take." In other words, you can't succeed unless you try, and that means you have to take a chance. It is easier to do nothing and not risk failure because it is scary to start something. You put yourself, your money and your reputation in jeopardy. But if you don't try, you'll never start anything. As @lyra said, it's better to try and fail, than to never try. Failure, as hard as it may be, is also one of the greatest learning experiences. And doing things in spite of your fear, while you're actually fearing it, is called courage.

My suggestion to you is to dig deep and figure out what YOU really love, what "thing" you would be doing if you had the freedom and finance to pursue it without worrying about the future. Then you need to determine if there is a need for that "thing" in your community. This doesn't mean what would you be doing to make the most money. The money will come when you're passionate about what you are doing and others recognize it, it can't be faked. Lastly, you need to develop a plan to get that "thing" started. Start with baby steps and intention, and you will figure out how to achieve that which you desire. But if you don't put yourself out there to get it going, it won't fall from the sky into your lap - you have to go get it and believe that you can do it.

So to answer your questions, yes, I have tried and failed, and yes, I did it again. Was I afraid? You betcha. No support and outright contempt from my husband, and friends thinking I was crazy to give up a paycheck to strike out on my own. But I believed I could do it, and the more people said I couldn't, or shouldn't, the more determined I became to prove to them and myself that I very well could. Watch. Did it work? Let me put it this way, I could never afford the luxury of diamonds before, but I can now.

I apologize for the length of this essay, but this is one of the better questions I've seen on PS and thought my story might inspire you to try to follow YOUR OWN PASSION.

Terribly cliched as it is to say... You are a brave, strong woman. A few hundred words and I find myself in complete admiration of a person I’ve never met: I know myself, and I see myself taking different, “safer” routes at each of your inflection points. In your position... I know that I would not have chosen your path, and then I would not have ended up the content, happy groomer who you are now.

Thank you so much for sharing your story @SandyinAnaheim! I too wish you many happy and fulfilling years in your new career

 

[SandyinAnaheim]

Just reading this I can see why your clients love you. What a wonderful story and i wish you many happy years in this career.

Thank you so much @bludiva for your kind words.

Terribly cliched as it is to say... You are a brave, strong woman. A few hundred words and I find myself in complete admiration of a person I’ve never met: I know myself, and I see myself taking different, “safer” routes at each of your inflection points. In your position... I know that I would not have chosen your path, and then I would not have ended up the content, happy groomer who you are now.

Thank you so much for sharing your story @SandyinAnaheim! I too wish you many happy and fulfilling years in your new career

Thank you @yssie, your words moistened my eyes. I almost didn't post this after writing it, but I wanted @Indylady to know that I had been through exactly what she was asking, and while hard, is doable.

I hail from family businesses (that's what we call 'em) and am now self-employed, fulfilling my dream of never answering to anyone except myself. I don't sell a product, though, and I don't have a store front. I write, and I manage projects from afar, and I love it!

My family ran general stores, restaurants, but those were not the actual money-makers. They had real estate, and the land they rented out to major corporations (think chain joints in a small town--someone owns the land those buildings sit on) was a very lucrative investment. My advice to you is not to deal with running a business (thought it's so romantic and seems like fun!) but to start buying up property. Far less glamorous, but investment-wise you'll see returns much faster than going into retail.

Small business, i.e. setting up shop with a hobby and a dream? Everyone wants to do it, and it's a great thing, but it just isn't sustainable unless you have a ton of capital up front and a product with very high margin and the ability to (financially) basically sit on the bench the first few years.

I actually agree with all of what @monarch64 says, except having managed law firms, I KNOW running a business is neither romantic nor fun. I think real estate investment is a very profitable endeavor and I am working towards having rental properties in the future, but one is limited by their location. Here in California, you can pay right around $400k for a small condo, the average price for a house in an average area is about $600k, never mind commercial property. For someone that doesn't have the capital to get in, one has to start generating the income to get into that market somewhere, and I couldn't do it in my traditional job. If I had family that would back me, it might be a different story. But I agree, property investment is lucrative and the way to go, if you can afford to get in.

 

[Indylady]

Paperunicorn, Thank you so much for your thoughtful post. Do you have a favorite of your businesses?

Wowow on a social media site falling out of vogue--hadn't even considered that! Thanks for your support and words of encouragement. This NYT Opinion article speaks to the pressures of social media and combining passion with business--and how ultimately it feels like the individual becomes their 'brand' and it feels like the person behind the business turns into a commodity. That part of modern business sounds challenging.https://www.nytimes.com/2018/11/24/opinion/sunday/gig-economy-self-promotion-anxiety.html

 

[Indylady]

Hi Indy! This is a great question, and I have a slightly different perspective. I'll give you a less-than-brief history, and I hope it helps you somehow. This is more about following your passion, rather than pursuing a hobby.

I am the first generation offspring of blue collar workers. My first memories are of our family dog laying by my crib, and I was attached to him like a sibling. I have always had a very deep connection with animals that I won't get into here. Ever since I can remember, I've wanted to be with and work with animals, but my parents wanted me to work in air conditioning in an office doing something with my brain, so I would be better than them. I ended up working in law firms because that was the most money I could make in a clerical environment. I pursued a degree in paralegal studies and accounting and worked my way up the ladder into management.

In the late 1990s, my parents started an online cigar business during the cigar boom and were able to sustain themselves from that business. They asked me to build them a website and consequently, I learned the business. I started buying and reselling exotic and impossible to get cigars in 2000 with $1k from a spare bedroom. By the end of the first year I had $150k in sales and was exploding out of my house. By year two, I quit the legal field and devoted myself to this business and had $500k in sales. I proceeded to open a B&M cigar shop and things went well...for a while. In 2005 I started to feel the effects of the upcoming crash. My wealthy clients were losing their jobs and nearly overnight, my sales went from $40k/mo to less than $5k/mo, and then to nothing. By 2008 I had lost my home trying to save my business, and then lost my business, and was literally <60 days away from being homeless. This was a devastating loss of epic proportions and I swore I would NEVER work for myself again. It was really hard getting back into the legal field with such a long hiatus, but I did at less than half of what I made before.

In 2011 I moved to California to be with my husband, then fiance. I became employed in the legal field less than a week after arrival, but things are not the same here as in Florida. I held 5 different legal positions between 2011 and 2015 with each boss being worse and more corrupt than the last. In 2015, at the age of 49, I started seriously considering changing careers. I knew in my heart that I wanted to work with animals, but what could I possibly do that would sustain me and wouldn't require 5+ years of training? After about 8 months of research, I settled on pet grooming.

I quit my job and started grooming school. My husband had "pretended" to be on board with the idea until I actually did it. The pretense came to an abrupt end, no matter what I told him of the results of my research and that I would be nearly the only person serving North Orange County by going mobile. He predicted I would fail and lose all of my time and investment and that I would become dependent upon him. The complete and utter lack of support for my endeavor devastated our relationship and it hasn't been repaired. But I knew that if I wanted a change for MY LIFE, the only person who could do it for me, is me.

I decided to try having another business, a service business rather than buying and selling. I bought a brand new $100k grooming van and with not a single client, donated my time to local rescues and homeless people's pets - and no social media presence. Just by being out there and word of mouth, I was able to get enough business in the first month to make both the van and insurance payments. Within 6 months I was about 50% booked for the year, and within a year, I stopped taking new clients.

Animals are my passion, not my hobby. It is hard and dirty work, but I will tell you the most beautiful truth. I have never felt more appreciated by so many people than I have in the past few years. I am doing something every day that I LOVE beyond words, working with pets. Pet parents adore me, because their pets adore me. I work with pets because I GENUINELY LOVE them, and everyone can see and feel it. I have enough people begging me to service them to be running 3-4 vans, but I can't find anyone with my sensitivity and empathy for pets, and so it is just me.

That old adage of do what you love and you'll never work a day in your life has turned out to be true for me. That's not to say that it's easy even though you love what you are doing. My choice is still physical labor, and as such, can be tiring many days, especially when you can't say no to the sad stories people have of prior experiences. But I wouldn't trade my lowly dirty job for any other. It satisfies my soul in ways I cannot express, every day, and I will continue to do this past retirement until I can't hold shears anymore.

I have listened to MANY business related podcasts that talk about the benefits of having a side hustle. Once it is developed, if something were to happen to your "day job", you have something else to rely on till you figure out what to do next. Wayne Gretzky once said "You miss 100% of the shots you don't take." In other words, you can't succeed unless you try, and that means you have to take a chance. It is easier to do nothing and not risk failure because it is scary to start something. You put yourself, your money and your reputation in jeopardy. But if you don't try, you'll never start anything. As @lyra said, it's better to try and fail, than to never try. Failure, as hard as it may be, is also one of the greatest learning experiences. And doing things in spite of your fear, while you're actually fearing it, is called courage.

My suggestion to you is to dig deep and figure out what YOU really love, what "thing" you would be doing if you had the freedom and finance to pursue it without worrying about the future. Then you need to determine if there is a need for that "thing" in your community. This doesn't mean what would you be doing to make the most money. The money will come when you're passionate about what you are doing and others recognize it, it can't be faked. Lastly, you need to develop a plan to get that "thing" started. Start with baby steps and intention, and you will figure out how to achieve that which you desire. But if you don't put yourself out there to get it going, it won't fall from the sky into your lap - you have to go get it and believe that you can do it.

So to answer your questions, yes, I have tried and failed, and yes, I did it again. Was I afraid? You betcha. No support and outright contempt from my husband, and friends thinking I was crazy to give up a paycheck to strike out on my own. But I believed I could do it, and the more people said I couldn't, or shouldn't, the more determined I became to prove to them and myself that I very well could. Watch. Did it work? Let me put it this way, I could never afford the luxury of diamonds before, but I can now.

I apologize for the length of this essay, but this is one of the better questions I've seen on PS and thought my story might inspire you to try to follow YOUR OWN PASSION.

Sandy, WOW! Thank you so much for taking the time to write such a thoughtful post and to share your experiences--I appreciate it so much. Your encouragement is so so helpful!! You are right--putting myself out there is necessary, and I'll never know till I try. I keep wondering what the magic is that makes one business successful and another not--esp. with the internet and sites like Etsy, its really easy to compare some numbers (just by viewing the # of sales, reading reviews, etc.); it sounds like passion is one of those propelling factors that makes people take notice. You have definitely inspired me!

 

[Indylady]

I hail from family businesses (that's what we call 'em) and am now self-employed, fulfilling my dream of never answering to anyone except myself. I don't sell a product, though, and I don't have a store front. I write, and I manage projects from afar, and I love it!

My family ran general stores, restaurants, but those were not the actual money-makers. They had real estate, and the land they rented out to major corporations (think chain joints in a small town--someone owns the land those buildings sit on) was a very lucrative investment. My advice to you is not to deal with running a business (thought it's so romantic and seems like fun!) but to start buying up property. Far less glamorous, but investment-wise you'll see returns much faster than going into retail.

Small business, i.e. setting up shop with a hobby and a dream? Everyone wants to do it, and it's a great thing, but it just isn't sustainable unless you have a ton of capital up front and a product with very high margin and the ability to (financially) basically sit on the bench the first few years.

Interesting idea, Monnie! That could be a business and side project in and of itself--buying and managing properties. I think you're right--it does take time to see returns on a business, if you see any at all, and of course lots of people dream of it and competition is fierce. You really do need a perfect recipe of right time, right place, right product, right drive, etc. all together to make something work. In terms of buying property--would you suggest buying undeveloped land, commercial property, or condos and apartments? Where do you start?

 

[SandyinAnaheim]

Sandy, WOW! Thank you so much for taking the time to write such a thoughtful post and to share your experiences--I appreciate it so much. Your encouragement is so so helpful!! You are right--putting myself out there is necessary, and I'll never know till I try. I keep wondering what the magic is that makes one business successful and another not--esp. with the internet and sites like Etsy, its really easy to compare some numbers (just by viewing the # of sales, reading reviews, etc.); it sounds like passion is one of those propelling factors that makes people take notice. You have definitely inspired me!

You are MOST welcome!! I am very happy that you feel inspired, that was my intent. I think you hit on the essence of the "magic" in your post below. In my particular case, I recognized a need in my local area at a time when pet-related businesses are booming. I just read that the pet industry generated $65B+ in 2018!! That need just happened to coincide with something I wanted to be doing, so that was lucky for me. I just needed to refine a vision for my "product", to distinguish me from the norm, and it worked.

...You really do need a perfect recipe of right time, right place, right product, right drive, etc. all together to make something work....

 

[paperunicorn]

Paperunicorn, Thank you so much for your thoughtful post. Do you have a favorite of your businesses?

Wowow on a social media site falling out of vogue--hadn't even considered that! Thanks for your support and words of encouragement. This NYT Opinion article speaks to the pressures of social media and combining passion with business--and how ultimately it feels like the individual becomes their 'brand' and it feels like the person behind the business turns into a commodity. That part of modern business sounds challenging.https://www.nytimes.com/2018/11/24/opinion/sunday/gig-economy-self-promotion-anxiety.html

I don't have a favorite, no. I mean, I've been driven to do art since I was a child, so that one's certainly more essential to me as a person, but it's also much more draining taking something so personal and putting it out there asking people to buy it. I also try really hard to avoid the individual becoming the brand...a lot of people I know who are artists share a ton about themselves personally and I always wanted my art to speak for itself.

Read a few more comments in the thread and it's obvious that a lot of folks are coming from very different financial places than I am! I grew up in poverty, worked in fashion retail management for 10+ years before quitting on the verge of a nervous breakdown. Never made more than $25k per year. If you can afford to buy property absolutely do it! It is much harder starting a business with not a lot/no collateral.

 

[Crazie4Cuts]

@SandyinAnaheim Thank you so much for sharing your story with us! I so appreciate the time you took to give us the details! You are definitely a person who experienced much and decided that if your going to live you should do what you love! Courage and determination are the words for this New Year!
-C4C

 

[Karl_K]

There is a huge gotcha with a side business and that is taxes.
If you income is close to a higher bracket it may put you over plus both parts of the fica taxes you have to pay and cost you more than you made.
If it puts you over the AMT threshold it may cost you thousands of dollars in higher taxes plus both parts of the fica taxes you have to pay on it.

Don't forget general liability and errors and omissions insurance.
Depending on the field that can be a ton of money right there.

 

[SandyinAnaheim]

Thank you @Crazie4Cuts for the kind words! You hit the nail on the head, life is TOO SHORT to be miserable at your daily money-earning tasks. Like @paperunicorn, I was heading towards a breakdown and actually ended up in the hospital in the middle of the night with what we thought was a cardiac event. Turned out to be a severe panic attack, the only one I've ever had. My life changed that night. My body/mind was telling me that something was terribly wrong, and I listened and started working towards changing my circumstances.

 

[Indylady]

There is a huge gotcha with a side business and that is taxes.
If you income is close to a higher bracket it may put you over plus both parts of the fica taxes you have to pay and cost you more than you made.
If it puts you over the AMT threshold it may cost you thousands of dollars in higher taxes plus both parts of the fica taxes you have to pay on it.

Don't forget general liability and errors and omissions insurance.
Depending on the field that can be a ton of money right there.

I actually hadn't even considered that. I have some wiggle room up the the next tax bracket. I don't even know about FICA taxes and will have to read about that.

 

[Indylady]

I don't have a favorite, no. I mean, I've been driven to do art since I was a child, so that one's certainly more essential to me as a person, but it's also much more draining taking something so personal and putting it out there asking people to buy it. I also try really hard to avoid the individual becoming the brand...a lot of people I know who are artists share a ton about themselves personally and I always wanted my art to speak for itself.

Read a few more comments in the thread and it's obvious that a lot of folks are coming from very different financial places than I am! I grew up in poverty, worked in fashion retail management for 10+ years before quitting on the verge of a nervous breakdown. Never made more than $25k per year. If you can afford to buy property absolutely do it! It is much harder starting a business with not a lot/no collateral.

I can definitely understand the stress of putting something personal out there for sale; I think that that holds me back on submitting my writing for any publication (+fear of rejection too). I read an Amazon review of a memoir, and I was shocked when the reviewer said something to the effect of, "...and the author is a *$!%# to her husband..." the memoir was actually about a health issue and not even about her relationship with her husband! People out there can say make an opinion out of anything and reviews, which good for a consumer, are sometimes terrifying in the small business/art world where the individual owner/artist is very connected to the work that they are selling. However, I don't write memoir type pieces so I think that any criticism would be more about my writing and ideas, while I'm sure I'd take it personally and think about it seriously, but wouldn't hit me quite in the gut like that comment.

 

[Indylady]

You are MOST welcome!! I am very happy that you feel inspired, that was my intent. I think you hit on the essence of the "magic" in your post below. In my particular case, I recognized a need in my local area at a time when pet-related businesses are booming. I just read that the pet industry generated $65B+ in 2018!! That need just happened to coincide with something I wanted to be doing, so that was lucky for me. I just needed to refine a vision for my "product", to distinguish me from the norm, and it worked.

I just wanted to note that I'm also a fellow dog lover and love that you have a mobile grooming business. In my area, doggy day hikes have really taken off and Wag is everywhere. Its really fun to listen to someone talk about their passion--even if its something you don't know a lot about--it becomes exciting simply in part because the person you're talking to is so engaged and knowledgeable, and I'm sure that's translate into the success of a business. I will always pay extra for someone or a business that I like and trust over a cheaper alternative--the peace of mind is worth it.

 

[paperunicorn]

I can definitely understand the stress of putting something personal out there for sale; I think that that holds me back on submitting my writing for any publication (+fear of rejection too). I read an Amazon review of a memoir, and I was shocked when the reviewer said something to the effect of, "...and the author is a *$!%# to her husband..." the memoir was actually about a health issue and not even about her relationship with her husband! People out there can say make an opinion out of anything and reviews, which good for a consumer, are sometimes terrifying in the small business/art world where the individual owner/artist is very connected to the work that they are selling. However, I don't write memoir type pieces so I think that any criticism would be more about my writing and ideas, while I'm sure I'd take it personally and think about it seriously, but wouldn't hit me quite in the gut like that comment.

You definitely get used to rejections; it doesn't stop being disappointing, but it certainly isn't crushing. But more personal comments are definitely always hurtful. I've been lucky not to have anyone say something terrible to me, but people have definitely said things that have made me upset. I rarely read comments and I try my hardest not to compare myself to any other artists.

The first step in putting your writing out there is letting people you trust to be honest but kind read it. It took me years to be confident enough to go from there to submitting to publications, but eventually I got enough faith in my writing to do so.

 

[Indylady]

You definitely get used to rejections; it doesn't stop being disappointing, but it certainly isn't crushing. But more personal comments are definitely always hurtful. I've been lucky not to have anyone say something terrible to me, but people have definitely said things that have made me upset. I rarely read comments and I try my hardest not to compare myself to any other artists.

The first step in putting your writing out there is letting people you trust to be honest but kind read it. It took me years to be confident enough to go from there to submitting to publications, but eventually I got enough faith in my writing to do so.

Your experiences are totally invaluable and awesome to read. I have a tough skin in my line of work and don't take things too personally/out of proportion in my career, which is why I'm surprised at how cautious and preemptively sensitive I am in this arena. Yup--what they say--comparison is the thief of joy. Avoiding comments makes total sense; people just say anything online, especially when its so easy to make a throwaway account/shill account.