Hello all. This may be a bit unusual but I am not a welder. I am trying to help a friend who is. He is a great welder wanting to start his own welding business, but is completely lost on the business end of things, so I'm trying to learn and give him a hand. I hope it's Ok to just be a member here and try to learn what I can for him. Thanks!
my advice is don't start your own business, i've been down that road.WelderRic wrote: ↑Sat Oct 16, 2021 8:26 am Hello all. This may be a bit unusual but I am not a welder. I am trying to help a friend who is. He is a great welder wanting to start his own welding business, but is completely lost on the business end of things, so I'm trying to learn and give him a hand. I hope it's Ok to just be a member here and try to learn what I can for him. Thanks!
it doesn't matter how good you are at your trade, if you don't have a head for business your going to fail.
if he has to do his own business then hes going to have to go an learn the business stuff.
i would recommend go listen to the welding tips and tricks podcast where they interview "barbie the welder".
her story covers some of that.
traditionally here its the wife that does the business side. that may or may not apply in this case.
from personal experience is that the people in your household/life have to be onboard with it as well, otherwise it will turn to crap.
tweak it until it breaks
While I agree with you Tweake, the side hustle stuff can be lucrative.
Keeping a job and moonlighting is kinda where it is at. Sometimes you have to shake something to get things and personal economies moving. Trick is finding the right clients, customers are right when they actually customers, no paying whingers are exactly that.
Depending where you are geographically, if an industry booms a bit and you can offer more as a business and benefit from that, then if you need to you should find out how to.
Sub contracting on smaller jobs is good for performance focused individuals it allows you to network, control your quality, and be hands on with your work.
It is great way to tax write of work related toys. Have an honest accountant, yes men or advisors who recommend debt as tools should be avoided at all costs.
You never really know what life will yield if you don't stand on its foot and wring its neck. If you have the trade skills and want to start a business, research and go in with eyes wide open.
Be kind but a healthy amount of trust issues wouldn't hurt either
Good luck
Keeping a job and moonlighting is kinda where it is at. Sometimes you have to shake something to get things and personal economies moving. Trick is finding the right clients, customers are right when they actually customers, no paying whingers are exactly that.
Depending where you are geographically, if an industry booms a bit and you can offer more as a business and benefit from that, then if you need to you should find out how to.
Sub contracting on smaller jobs is good for performance focused individuals it allows you to network, control your quality, and be hands on with your work.
It is great way to tax write of work related toys. Have an honest accountant, yes men or advisors who recommend debt as tools should be avoided at all costs.
You never really know what life will yield if you don't stand on its foot and wring its neck. If you have the trade skills and want to start a business, research and go in with eyes wide open.
Be kind but a healthy amount of trust issues wouldn't hurt either
Good luck
its a little different here. side hustles are usually done off the books.
your guys side hussle is like a part time home business. something you guys seam to be really big into. we don't have that sort of culture.
but main point i think stays the same. most self employed tradesman that fail, typically fail due to not getting the business side right.
really worth while learning business skills while still working a day job.
your guys side hussle is like a part time home business. something you guys seam to be really big into. we don't have that sort of culture.
but main point i think stays the same. most self employed tradesman that fail, typically fail due to not getting the business side right.
really worth while learning business skills while still working a day job.
tweak it until it breaks