I recently started browsing /antiwork in hopes of finding suggestions on how life could be better enjoyed. What I found was mostly hatred towards bosses, rich people, corporations and politicians. They may very well deserve some flak, but maybe we could post a little more constructive commentary.
In that light, I'm going to explain my current situation and then invite advice or answer questions. I'm 39 and support my 4 children and spouse while working 10-20 hours per week as an independent contractor. We have 3 vehicles and live in a 2k sqft house in a decent neighborhood. I have no college degrees and am an introvert.
I got into my current position by working for an electronics manufacturer until I had enough knowledge and connections to start up my own service company (just me, some tools, and a $2k truck). From there I branched out to different products to sell and service. I bill $95/hr and typically add 20% markup to products that I sell. This equates to some $8k work weeks and a lot of down time. Please note that this is not a ceiling. I could hire or travel if I was desperate to make more.
I'm not putting any additional effort into growing my company because I'm not passionate about it. It fills a role and that's about it. I have dabbled in corporate life, customer service, bench repair, field engineer work, property management, forestry management, interior design (my wife), a t-shirt business (also my wife), and now farming. The farm business is my future plan because I enjoy the work and it provides me with resources and options that I consider to have long term value.
My key advice would be:
– Always have a current plan, future plan and backup plan for your own money / happiness ratio. This involves understanding your own financial expectations and how many hours you are willing to commit to achieve that goal. Never settle in your work unless you plan to stay there. I have a dozen different jobs I could veer into if needed which allows me to take some risks. I also criticize myself for how long I stayed in some of my prior positions.
– Always look for efficiencies. My $0.17/mile econo-car gets the same federal mileage deduction as my $0.58/mile big truck (these are pre-covid numbers). Incurring expenses in December vs January may mean the difference of a few thousand dollars worth of tax credits. If I buy the bulk material now for a discounted price, will I use the rest at a later job and bill full price? When this project is over, where will the waste material go? Better efficiency means fewer hours spent working on things you don't care about.
– Make contacts, keep your composure, and don't burn bridges. I have an ex-boss that I despise and never let him know it. The reason is that I can at any point ignore my pride and ask for my old job back. I also had an aggravating cheapskate customer who gave me a used $9k piece of equipment because I knocked $500 off of her bill. In both cases I DID NOT give them a piece of my mind and ended up coming out ahead. This is business. Save the cathartic release for the punching bag.
– Always negotiate and make sure your expectations are clear. Knowing when to say “no” is important, but charging a higher rate often works too. I have on multiple occasions asked for a strongly inflated price because I didn't want the work only to find that the customer was willing to pay.
– Never do work “favors” or pitch in for work “emergencies” unless you are seeing some sort of compensation or consider it a future investment. Companies will always ask for more. Sales people will always promise more. Don't be the person left “taking one for the team”. These are opening for negotiation. I save my charity for people (and animals) who I think deserve it. Capitalism is selfishness and that's fine by me when it comes hours of my own life.