Jump to content
Sign in to follow this  
CT-Seven

Its a sign of the times they said...

Recommended Posts

Since 2016 I have had trouble keeping up with the declining economy plus lack of good people to work with me. Last month I closed the doors on my location where my father had been since mid 2007. Landlord threw down a new rent rate and I could not keep up.

 

Opened at a new location with a more reasonable rent just two blocks down of my old place, but I have become very discontent with the business, myself and my loyalty to my old man.

 

Thinking of jumping ship and leaving Miami alltogether, I know that the freedom I have plus the income will be hindered but I just dont have the motivation anymore.

 

I do apologize for the long rant but I have had it bottled up for a minute.

 

Phew! Thanks!!

  • Thank You 2

Share this post


Link to post
Share on other sites
If possible take a vacation or just some time away, just to give yourself a chance to figure out what direction you want to go.
Considering you have a relatively young family(two young daughters I believe), now is the time to make a change. 
Also consider a company with solid insurance and retirement benefits. 
 
Sounds like at the very least take a couple days for a long weekend to decompress.
Good luck .................................. 
  • Thank You 3

Share this post


Link to post
Share on other sites
Sorry to hear your still struggling brother.
 
If your not happy, no amount of money can offset the price you pay. Eventually it will effect everything, health, marriage, kids, family, everything.
 
Running a business with constant liabilities in a variable economy is stressful. The potential for making high income often comes with the potential for large losses. Providing stable employment and business, to employees and vendors, while responding fast enough to the market, to not harm the company is stressful as you know. 
 
Take a deep breath. This WILL turn for good.
 
Can you sell the business?
Does your dad still run it?
 The last 5 years of business for me was terrible. Hated going to the shop so bad that puking was almost daily before going out the door. I tried to isolate everyone else from the stress and hold it in, comes with being the boss. That was a company that was profitable overall. Riding those waves can eat you up.. My little business had a cost of $60,000.00 per month to break even. Things slow down or crash and the potential to lose your ass comes quick. Real stress.
 
Bricks and mortar retail today could be very stressful.
 
I don't know your details but can tell what I did.
 
I did everything possible to make the finances very good. Liquidated everything of excess, unused equipment, everything that was not needed for operations. Got rid of as many liabilities as possible like Rugs and Shop towels, cleaning service, all the small shit that adds up. Lean is key and helps make the numbers look better. Cut meals and entertainment, all of it.
 
Then sold the company. Worked out well that the shop was full of work during the tour and the financials looked as good as I could make them.
 
I paid off my remaining debts at the sale and walked away. Yeah, I made money, but was miserable and depressed.
 
Now I don't make much. Less than 10% of my personal income from the business in a good year. I don't need much, but I'm old, and kids are grown up already.
 
It all works for good. Be conscious of that and you can enjoy the ride with less stress. Sometimes it seems that stress is the effect of fighting a change that is meant to be. 
  • Thank You 5

Share this post


Link to post
Share on other sites

 There are a lot of similar stories out there. I didn't believe them until it happened to me. That was 11 years ago. I could never could go back to that life. It took time even after it was all over, but now I am happier and more at peace than I ever remember. I know that it can all change almost overnight too. You are more capable than you realize for making a new future, but you have to know that it is right first of all. I hope that you end up with at least as good of an 'after-experience' as I did.

  • Thank You 1

Share this post


Link to post
Share on other sites

Sorry to hear of your plight. Leaps of faith require a lot of faith. Faith in yourself, your wife, your kids, God.

 

It’s healthy to sit back and evaluate where you are and where you are going. And if you are gonna run, run toward something. Not away from something. It works out okay. I did the whole “relocation and into a new career” thing 16 years ago. The grass was pretty green. I soon learned there were a lot of weeds. In the end, it worked out okay.

 

For me, the trick is keeping motivated. My current job had me running 60+ hours a week for 3 years. I was stressed, and when I was home, I wasn’t mentally home. Sanity for me came in the form of hobbies. Woodworking and audio to be precise. I made time to decompress. It wasn’t enough. I was burnt out. All I wanted to do was get out of here.

 

That was a year ago. My workload decreased some, but the biggest change was me. I decided my job is not the most important thing in my life. My life is. I leave work at work. My customers are still happy with me, and my relationships with them are better for it. My relationship with my wife is strong and my sons don’t live with us anymore but they still stop by to say hi.

 

My family is still with me. I’m one very blessed guy indeed!

 

 

  • Thank You 4

Share this post


Link to post
Share on other sites
Change can be liberating.
 
Liberation can be change.
 
Taking some time away from daily stress and distraction (a week, not just 5 minutes...) to really let your mind process things is a good idea - then liberate/change.  Worth it to get a clear sense before you leap forward with the decision, whatever it is.
  • Thank You 2

Share this post


Link to post
Share on other sites
Sorry to hear you are having a tough go of it Bryan. If you know anything about electronic security installation, service, etc. PM me - I am still trying to hire people all across the US.
 
If you do decide to explore a career with a "regular" company, be sure that you also explore engaging a financial planner at the same time. IMHO the 401K racket should be outlawed - many people relying on that for retirement are going to be really hurt if and when the stock market takes a dive, which is absolutely going to happen at some point. If I had known that little bit of info and had been doing what I do now for retirement funding, I'd be retiring next year, instead of 11 years from now...
 
Not saying the 401K is all bad - I participate for the first 6% - that is what my company matches 100%. I'd be stupid not to take the "free" money they throw in each month. But instead of giving them 20% of my income, I give the other 14% to my financial guy - who has handily bested the returns of my 401K every year since I hired him in 2008. An added benefit is the money I give him is all after-tax so when I choose to use it I will not have to claim it as income.
 
I know retirement planning is the last of your worries at this point but I really wish someone had set me down at age 25 and explained a workable plan. I'd be in a much better spot financially if that were the case. You can start small and grow it as your income grows. The trick is to engage early so you learn to live on the smaller take-home.
 
Good luck with whatever you decide. One last bit of advice - be slow when making decisions like this. Rare is the circumstance where it pays to make a quick decision, especially when it comes to career opportunities. 
  • Thank You 7

Share this post


Link to post
Share on other sites

Thank you all for the wonderful advice and there seems to be an equal advice across the board which is to decompress ane step back for a few days.

 

And yes harsh and rushed desicions never helped anyone, I am going to give my daughter the chance to finish the school year and by then I wil have a clear track of what I desire to do next.

 

B-Man, I will message you next week and you can explain in more detail and maybe I can see if I fit and meet the requirements for you.

 

Again thank you all for taking a moment to hear me out! I have come to a point where my only other person to talk to other than my wife (which I did not want to worry) is the old man and he does not need this new strees either. So it sometimes stays inside and just makes it worse.

 

But I feel good to have it off my chest!

Share this post


Link to post
Share on other sites

Well since that time I brushed up my resume and out it went.

 

I have had two interviews so far and I feel confident Incan fit somewhere.

 

Decided to take the usps 473 test and nailed a 87.5 on it on Feb. 22 I am slated for an interview on 3/13.

 

Any carversite members work for the USPS?

Share this post


Link to post
Share on other sites

Great job if you can get it Bryan.  Gov't employee benefits are probably worth as much as the salary.  My wife's father worked for USPS 25 years, retired.  He passed in 2003, but lived well on his income.

  • Thank You 1

Share this post


Link to post
Share on other sites

Its started to snow ball now I have another interview at another station lets catch them all like the kids used to say

  • That Rocks 2

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

×